CBRE Makes Strategic Investment in Redaptive to Promote Efficiency as a Service (“EaaS”) Model
New Offering Will Deliver Efficiency and Smart Building Solutions to Clients
LOS ANGELES--(BUSINESS WIRE)-- CBRE Group, Inc. (NYSE: CBRE) announced today that it has made a strategic investment in energy services firm Redaptive, Inc. Headquartered in San Francisco, Redaptive is a fast-growing provider of integrated energy efficiency solutions and energy financing for building owners and occupiers.
“Redaptive offers a new and compelling service for CBRE clients,” said Matt Werner, Global President, Facilities Management. “CBRE’s strategic partnership and investment will enable Redaptive to expand its capacity into more portfolios worldwide, while helping our clients reduce costs and improve sustainability.”
Mr. Werner will join the Redaptive Board of Directors, representing CBRE and other external investors.
Redaptive differs from traditional energy services firms in that it offers portfolio-wide, turnkey efficiency solutions, backed by transparent measurement and verification reporting. Redaptive finances and manages building efficiency projects, recovering costs from savings delivered. Redaptive’s solutions allow clients to implement projects in a risk-mitigated manner, leveraging third-party technology and installation partners.
“Every one of our client portfolios has latent energy inefficiencies, presenting an opportunity for improvement,” says John Hagen, CBRE’s Managing Director, Energy and Sustainability. “The challenge for many of our clients is securing capital and project resources to implement energy conservation measures when their organization has so many other priorities. We are excited to support Redaptive and bring forward a compelling option for our clients.”
“We are thrilled to have this strategic support from CBRE,” said Arvin Vohra, Co-CEO of Redaptive. “It will enable us to accelerate our product offerings and continue to break down the barriers to large-scale efficiency deployments.”
“CBRE and Redaptive are already collaborating to solve complex client problems and design unique solutions to accelerate and scale energy efficiency,” added John Rhow, Redaptive Co-CEO. “This investment and partnership bodes well for the future of the industry.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
Certain of the statements in this release regarding our investment in Redaptive, Inc. that do not concern purely historical data are forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “anticipate,” “believe,” “could,” “should,” “propose,” “continue,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “will” and words of similar meaning. Forward-looking statements are made based on our management’s expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, but not limited to, our clients’ willingness to utilize the services offered by Redaptive, as well as other risks and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. For additional information concerning factors that may cause actual results to differ from those anticipated in the forward-looking statements and other risks and uncertainties to our business in general, please refer to our SEC filings, including our Form 10-K for the fiscal year ended December 31, 2017. Such filings are available publicly and may be obtained from our website at www.cbre.com or upon request from the CBRE Investor Relations Department at firstname.lastname@example.org.
Source: CBRE Group, Inc.
Released April 16, 2018