ImpactAlpha, October 23 – Carbon Lighthouse, a clean energy services company, and Generate Capital, the green project-finance firm co-founded by SunEdison founder Jigar Shah, have closed a $65 million fund to help building-owners green their properties.
Carbon Lighthouse also raised $7.5 million in equity from CEAS Investments. The new capital adds to an open growth round, for which it raised $27 million earlier this year.
Buildings account for 30% of global carbon emissions and up to 70% of urban energy use.
The new fund will front capital for property owners working with Carbon Lighthouse to map, monitor, and upgrade their buildings’ energy consumption. Customers pay no upfront costs, and Carbon Lighthouse works with them to recoup savings as “lease revenue”. The company says its technology and services can increase a building’s value by $5 to $10 per square foot.
Carbon Lighthouse launched in 2010 and has worked on more than 500 buildings across the U.S. Its partnership with Generate Capital on a project finance fund will speed up new projects by helping building owners secure the upfront capital they need for infrastructure upgrades.