Honeywell announced that it had invested in energy-as-a-service company Redaptive to bring the latter's capabilities to private sector-owned commercial and industrial buildings.
Details of the deal were not disclosed.
"Energy-as-a-service (EaaS) is a business model whereby customers pay for an energy service without having to make any upfront capital investment," says non-profit research institution Resources for the Future. "EaaS models usually take the form of a subscription for electrical devices owned by a service company or management of energy usage to deliver the desired energy service."
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