GridPoint Lands $150M Credit Facility to Expand Energy Optimization Platform
GridPoint, an energy management and optimization technology company based in Reston, has secured a credit facility of up to $150 million from HASI, an investor in climate solutions.
GridPoint plans to utilize the financing to extend its services to small and midsize commercial businesses, aiming to help them improve energy efficiency and reduce their carbon footprints. The investment facility provided by HASI will enable GridPoint to make its building energy management and optimization technology accessible to a broader range of buildings.
GridPoint’s platform collects data from sensors and other sources to analyze energy usage patterns, identify inefficiencies, and assess building health. The company already serves national brands such as Walgreens, Chipotle, and Panda Express, and has achieved significant energy savings and carbon emissions reduction for its customers. The funding will accelerate the adoption of energy management technology, and GridPoint aims to expand its deployment to 100,000 sites in the coming years.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.