Energy-as-a-service company Redaptive, which enables private sector-owned commercial and industrial buildings to adopt data solutions and energy savings programs without upfront investment, announced additional fund raising to bring their Series-E total to $250 million.

"This latest investment follows recent contributions to the round made by Canada Pension Plan Investment Board (CPP Investments), Honeywell, CBRE, and others," said the company's press release. Redaptive will use the additional investment "to support enterprise customers with data-driven energy generation and efficiency programs including HVAC, LED lighting, solar, EV, as well as Data Solutions, and other utility upgrades that can be deployed at large sites or across distributed real estate portfolios."

"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."