San Francisco (July 7, 2022) -- Metrus Energy (“Metrus” or the “Company”), an Energy as a Service (EaaS) and building efficiency market leader, today announced that it has been acquired by ECP, a leading energy transition-focused investor with an almost two decades-long track record of successful investments in the electricity, clean energy, renewable and sustainable solutions sectors. Financial terms of the transaction were not disclosed.
Metrus provides innovative EaaS financing solutions for large-scale energy-efficiency and renewable-energy projects. The Company’s signature Sustainable Energy Services Agreement (SESA) product is a proven financing tool that enables commercial, industrial and institutional customers to undertake large energy and water efficiency projects with no upfront capital outlay. Active in the EaaS space since 2009, Metrus has successfully implemented energy and water efficiency upgrades in over 690 facilities nationwide, saving nearly 785 thousand metric tons of CO2 for a wide range of customers, including Fortune 500 and education sector clients. With a reputation for supporting customers in reducing GHG emissions, tracking and reporting energy savings and generating immediate costs savings, Metrus has differentiated itself as the leading provider of tailored, climate-positive financing solutions.
ECP’s acquisition of Metrus comes at a watershed moment for the EaaS industry, which continues to grow at a rapid pace and is expected to reach a total market size of $66 billion by 2030. With the new proposed SEC climate disclosure rules and increasing stakeholder focus on emissions caused by aging buildings and infrastructure in North America, the industry is poised to be a significant contributor to GHG emissions reductions by lowering overall electricity consumption in a low risk and economical manner. Following the close of the acquisition, Metrus will continue to be led by CEO Bob Hinkle and the existing management team and the company’s headquarters will remain in San Francisco.
As a leading investor in clean energy solutions with a long track record of successful investments across the energy transition ecosystem, ECP will accelerate Metrus’ expansion into new markets and products while the Company pursues increased commercial opportunities in the EaaS market. With ECP as a partner, Metrus is increasingly well positioned to meet the ever-expanding efficiency and sustainability needs of its customers, including a diverse array of energy and water efficiency solutions as well as new distributed solar, energy storage, EV charging and technology offerings.
“With the race to net zero well underway, this is an exciting time for the EaaS industry as a whole and for Metrus in particular,” said Mr. Hinkle. “I’m thrilled to continue executing on our long-term plans and to partner with ECP, one of the most experienced and sophisticated investors in the clean energy space with unparalleled expertise growing and enhancing businesses at the forefront of energy transitions. The ECP team shares our vision for growing the climate-positive financing platform we’ve built at Metrus and understands the importance of the efficiency sector in achieving broad global decarbonization goals.”
“Metrus’14-year track record of delivering successful EaaS projects for leading Fortune 500 companies and MUSH customers is second to none,” said Schuyler Coppedge, Partner at ECP. “The team’s ability to see around corners and anticipate the increasingly complex sustainability needs of their customers pairs well with ECP’s success in distributed renewable and sustainability solutions. We look forward to working with Bob and the entire management team to help expand Metrus’ reach and broaden its offerings.”
About Metrus Energy
Since 2009, Metrus Energy has been leading the way to a sustainable, low-carbon future by bringing energy efficiency and clean energy projects to life. Its comprehensive climate-positive financing solution pays for all upfront and ongoing project costs, providing upgrades to aging infrastructure, improving equipment resiliency, and lowering carbon emissions without the capital expense. Metrus bundles efficiency and clean energy measures into one simplified contract, tailoring each project to provide a turnkey solution. Metrus is a signatory to the United Nations Principles for Responsible Investment.
About ECP
Founded in 2005, ECP is a leading investor across energy transition, electrification and decarbonization infrastructure assets. The ECP team, comprised of 63 people with 500 years of collective industry experience, deep expertise and extensive relationships, has consummated more than 60 transactions over the last 10 years, representing more than $45 billion of enterprise value. For more information, visit www.ecpgp.com.
Contact
For ECP: \Jonathan Keehner / Woomi Yun / Kara Brickman \Joele Frank, Wilkinson Brimmer Katcher \212-355-4449
For Metrus:\Maureen Bitter\Vice President of Marketing\415-608-2017 mobile
