November 29, 2017
Lighting-as-a-service deals continue to shine as Metrus closes another large LED lighting upgrade deal with its Fortune 100 technology customer–the second transaction closed in the last three months. This $13.2 million deal expands the Efficiency Services Agreement (ESA) program to an additional six new customer sites in three different states. Metrus partners again with SmartWatt and Citi on this ESA, which is phase two of a much larger nationwide rollout.
Metrus and Citi will fund 100% of this ongoing efficiency-as-a-service transaction with no capital outlay from the customer. Citi is Metrus’ lending partner on the deal. SmartWatt, a leading energy optimization company, provided design services, and will construct and monitor the ongoing energy savings performance.
Phase two will reduce total electricity use for lighting at these six new customer sites by 72%, thereby eliminating 21,500 tons of annual CO2 emissions. Over the life of Phase two, this is equivalent to taking 20,900 cars off the road.
To date, Metrus has financed over $27 million under this Fortune 100 ESA program. Metrus will release further details and provide updates on upcoming phases of this efficiency-as-a-service rollout.