This startup develops and manages decarbonization and energy retrofit projects for Canadian businesses in the commercial, industrial, and multi-residential sectors. By implementing energy-efficient technologies, the company enables clients to reduce energy costs and meet emission reduction targets effectively.
Funding
$412.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many Canadian businesses face challenges in reducing energy costs and meeting emission reduction targets due to the high upfront capital investment and technical risks associated with decarbonization and energy efficiency projects. These barriers often prevent businesses and municipalities from implementing necessary upgrades to their infrastructure.
Solution
SOFIAC provides an investment solution that enables Canadian businesses and municipalities to implement decarbonization and energy-efficient renovation projects without requiring any upfront capital investment. SOFIAC assumes 100% of the costs, as well as the technical and economic risks, associated with each project phase. Project costs are repaid through a portion of the savings generated, allowing clients to maintain positive cash flow from the outset. SOFIAC optimizes available subsidies to minimize project costs and transfers asset ownership to the client upon installation, enabling fiscal amortization throughout the asset's lifetime.
Target Audience
SOFIAC's primary customers are Canadian businesses in the commercial, industrial, and multi-residential sectors with annual energy costs exceeding $750,000, as well as Quebec municipalities seeking to improve the energy performance of their buildings.
Features
- Project financing with no upfront capital required from the client
- Cost recovery through a share of the energy savings generated by the project
- Management of all project phases, including development, implementation, and performance monitoring
- Optimization of available subsidies to reduce the total amount to be reimbursed
- Complete transfer of asset ownership to the client upon installation for fiscal amortization
- Partnership with energy service companies (ESCOs) for detailed studies and implementation of technical solutions
- Continuous validation of the performance of implemented solutions through a measurement and verification (M&V) plan