EVANSTON & CHICAGO, Ill.–(BUSINESS WIRE)–Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced it has entered into a long-term Energy as a Service (EaaS) agreement with Northwestern University. The partnership will help the institution address its energy-related deferred maintenance challenges with no up-front capital required, while also advancing its sustainability and academic goals.
As part of the agreement, Ameresco will provide ongoing energy management and related services in addition to identifying and implementing energy efficiency upgrade, for the campus’s 175 buildings and central plants. Energy efficiency projects slated for these buildings will leverage advanced technologies to provide more efficient, better performing building systems such as building automation, lighting, heating and cooling, and alternative energy systems while also providing an improved learning environment for students and faculty.
“This ambitious, multi-year partnership will make our campuses more environmentally sustainable through reduced energy demand, which will ultimately decrease utility costs,” said Craig Johnson, Northwestern’s senior vice president for business and finance. “We will also now be able to draw upon Ameresco’s expertise to inform our continued pursuit of more sustainable practices.”
By utilizing the EaaS model, the University will be able to tackle its immediate infrastructure capital needs while simultaneously funding these projects over time using energy savings. EaaS, a service model rising in popularity, allows for energy-related infrastructure improvements to be delivered directly to an end customer with no upfront capital required from the customer.
“We are proud to be Northwestern’s strategic partner through this innovative approach to addressing the critical infrastructure needs of the campus. This is a tremendous blueprint for colleges and universities across the nation,” said Lou Maltezos, executive vice president at Ameresco. “The energy infrastructure upgrades, and ongoing energy management services will not only provide efficiency and cost savings but will also address critical deferred maintenance and bolster the sustainability and carbon reduction goals of their campuses. As a longtime professional in the energy industry and an alumnus of Northwestern University, I am delighted to see this partnership help Northwestern reach its future goals of reducing greenhouse gas emissions 30 percent by 2030.”
“The sustainability fellowship program will help prepare our students for meaningful careers in the fields of energy management, renewable energy, and sustainability. The topics addressed by fellowship teams will include leading edge application of energy and sustainability concepts to real-world problems,” said Holly Benz, director of the Master of Science in Energy and Sustainability.
To learn more about the energy efficiency solutions offered by Ameresco, visit www.ameresco.com/energy-efficiency/.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
The announcement of a customer’s entry into a project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. This project was included in our previously reported awarded backlog as of March 31, 2021.