Facilities management company Mitie and Sustainable Development Capital LLP (SDCL), an investment firm specialising in energy efficiency and decentralised energy generation, have launched a new partnership.
The two companies will help organisations looking to roll out equipment such as solar panels to generate renewable energy on site, as well as air and ground source heat pumps, and switch buildings from gas to electricity-based heating systems.
The companies say that research among finance executives reveals tha that limited expertise (50%) and access to capital (34%) are among the top factors limiting their business’ investment in decarbonisation. Mitie will help customers manage their sustainability projects, starting with the auditing of sites to collect baseline energy consumption and carbon emissions data. It will use this to help its customers procure, install, and maintain equipment to decarbonise and make sites more energy efficient. SDCL will selectively provide capital to fund the delivery and installation of the solutions identified by Mitie and will maintain long-term ownership of the projects, making them available for use under an energy services agreement.
Pradyumna Pandit, Managing Director, Energy and Sustainability, Mitie, said: “There are many technologies available today that are proven to help businesses reduce costs and carbon emissions from their sites, however large upfront capital costs mean that many are delaying their actions towards reaching net zero. This partnership with SDCL will help more businesses overcome these challenges and go further, faster towards their net zero transition while ensuring their operational costs stay on track. We look forward to using our energy management and engineering expertise to help customers with every aspect of their decarbonisation journey.”
Jonathan Maxwell, CEO and Founder, Sustainable Development Capital LLP, said: “SDCL has worked with Mitie for many years and is pleased to be entering into a partnership to provide cheaper, cleaner and more reliable energy solutions to businesses.”