In the simplest terms, we’ve created an investment fund that will expand financing for energy efficiency.
Bedford Hills, N.Y. (PRWEB) January 22, 2014
Joule Assets Inc. today launched the Joule Energy Reduction Assets Fund (“ERA Fund”), a private equity fund targeting $100M and that will invest in energy efficiency and demand response markets in the United States and globally. This first-in-kind fund provides accredited investors a channel into the previously closed $900B energy reductions assets markets, which encompass revenues generated from global demand response and energy efficiency programs. An energy reduction asset or ERA is an umbrella term for any unit of saved energy, which has become a tangible asset.
“In the simplest terms, we’ve created an investment fund that will expand financing for energy efficiency. On a grander scale, we believe that we have designed a fund that will aim to achieve the returns of top-performing private equity funds,” said Joule Assets CEO, Mike Gordon. “We anticipate that our fund will tap into pre-existing marketplaces and for the first time provides investors—in addition to utilities—a way to benefit from those gains.”
According to McKinsey’s ”Unlocking Energy Efficiency in the U.S. Economy” report, today’s global ERA market is currently valued at $900B. With Google’s purchase of Nest, there has been renewed interest in the potential of energy efficiency as a market. Once the purview of utilities and commercial customers, energy reduction asset programs like peak load reduction and energy efficiency have consistently generated lucrative returns and revenue opportunities for utilities and their customers. With the introduction of the ERA Fund, qualified investors can—for the first time—tap into these ERA markets and share in the rewards.
“The ERA Fund portfolio comprises projects based on technologies that can tangibly demonstrate energy savings such as those realized by building controls, HVAC (heating, ventilation and air conditioning), programmable thermostats, LED lighting, and automated demand response,” continued Mike Gordon. “By aggregating small and medium efficiency projects targeting the $50k-500K range, Joule’s ERA Fund streamlines project finance making available financing features like performance-backed insurance and medium term service-based investments to the ERA Fund’s investors.”
The ERA Fund will be managed by Joule Assets Inc., whose principals, Mike Gordon and Dennis Quinn, have proven track records of delivering consistent returns on energy efficiency and demand response-based investments. As founder of ConsumerPowerline (acquired by Constellation New Energy), Gordon managed 1GW of ERAs, achieving 30 percent annual returns and distributing $100M to participating commercial customers. Dennis Quinn, co-founder of Celerity Energy, led his firm in achieving returns in excess of 70 percent per annum over the three years of ownership, before Celerity’s acquisition by EnerNOC.
Investment opportunities for the ERA Fund are identified and vetted by Joule Assets. Investors may receive returns based on project yields as well as additional cash values of the projects that are identified by Joule Assets such as rebates and lowered price. For disclosures, see the following: http://www.jouleassets.com/legal-information.
For further investment information, register here.
Legends and Disclosures
- The ERA Fund’s securities may be sold only to accredited investors, which for natural persons, are investors who meet certain minimum annual income or net worth thresholds. In general, an accredited investor is a person (i) whose net worth (excluding his/her primary residence) exceeds $1 million, or (ii) whose income has exceeded $200,000 ($300,000 with his or her spouse) for the previous two years and is reasonably expected to exceed that level for the current year. Entities such as trusts, LLCs or corporations will be required to meet separate standards to be deemed an accredited investor. Prospective investors will be required to provide evidence that they are “accredited investors.”
- Performance data represents past performance. Past performance does not guarantee future results. Current performance may be higher or lower than the performance data presented. The Fund is not required by law to follow any standard methodology when calculating and representing performance data. The performance of the Fund may not be directly comparable with the performance of other private or registered funds. For current performance data, please contact us through our website at http://www.jouleassets.com.
- Fees and expenses have not been deducted from the performance data relating to the prior experience of the principals of Joule Assets Inc. and, if they had, performance may be lower than presented.
- Securities in our funds are being offered in reliance on an exemption from the registration requirements of the Securities Act of 1933 (the “Securities Act”) and are not required to comply with specific disclosure requirements that apply to registration under the Securities Act. The Securities and Exchange Commission has not passed on the merits of or given its approval to our securities, the terms of the offering, or the accuracy or completeness of any offering materials. Securities in our funds are subject to legal restrictions on transfer and resale, and investors should not assume they will be able to resell their securities. Investing in securities involves risk, and investors should be able to bear the loss of their investment. Securities offered are not subject to the protections of the Investment Company Act of 1940, as amended.
About Joule Assets
Joule Assets delivers financing solutions backed by performance insurance for energy efficiency (EE) and demand response (DR) initiatives and projects. We create Energy Reduction Assets (ERA) by integrating simple financing and insurance options with untapped revenue streams from our market analysis software tools like ERA-DR. Leveraging our proprietary database, software and extensive industry expertise, our mission is to expand commerce and reduce barriers in these complicated markets by creating transparency and providing financing solutions.