Joule Assets wins funding to promote energy efficiency towards SMEs in the UK.
BOOSTING ACCESS FOR SMES TO ENERGY EFFICIENCY
BRUSSELS, Belgium, 09 September 2019 – Joule Assets, in partnership with VRM Technology, Oxford Innovation, and Future Climate, has won a project grant from the UK government’s Department for Business, Energy & Industrial Strategy (BEIS), under the call for proposals, Boosting Access for SMEs to Energy Efficiency. The project – Smarter Choices - was one of only five successful proposals awarded funding, of over 100 total applications for the call. Smarter Choices is currently in the feasibility phase of funding, which runs from August to November 2019.
Smarter Choices looks to create an end-to-end integrated service to radically simplify access to energy efficiency for SMEs, covering global best practice measurement and verification and off-balance sheet project finance solutions. Smarter Choices is intended to be useable within and alongside a wide variety of third-party services helping SMEs manage their energy and buildings. The service will be developed with an initial focus on the UK manufacturing sector.
About Joule Assets Europe
Europe’s 2030 climate targets can only be met with an estimated mobilization of €177 billion investment annually in building stock alone. Meanwhile, project uptake has lagged due to high due diligence and customer acquisition costs blocking access to capital and complicating project deployment. To unlock this market potential, Joule Assets Europe provides access to innovative financing solutions and strategic support for Sustainable Energy Assets, including energy efficiency, distributed renewables, and storage. Through its online platform, eQuad, Joule helps ESCOs, engineering firms, and construction companies across Europe access appropriate project investment by providing third-party valuation, performance insurance, project certification, and due diligence that facilitate and expedites funding for Sustainable Energy Assets.
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