Alberta Ecotrust Foundation and Efficiency Capital have joined forces to deliver deep energy retrofits in multi-unit residential buildings across the province of Alberta. The goal of the partnership is to align with both Calgary and Edmonton’s climate plans by accelerating building retrofits, a key action for achieving carbon neutrality by 2050.

“This model works great because Efficiency Capital manages the process, provides access to the capital and provides assurances with its partners that the cost savings and emissions reductions will be achieved,” said Philipp Binder, Director of Operations on the first project currently underway in Edmonton.

“Through this partnership we can better help building owners implement deep emissions reductions while also creating more local jobs in the retrofit industry,” added Mike Mellross, Alberta Ecotrust Program Director. “Alberta Ecotrust will be a source of capital as well as serve as a connector between Efficiency Capital and building owners by providing some coaching assistance at the outset of the project.”

According to Efficiency Capital’s CEO, Chandra Ramadurai, the company’s business model aims to help building owners achieve better building performance, reduce emissions, and save money on energy bills without needing upfront capital.

“We are excited to partner with Alberta Ecotrust, bridging private and public sector funding to break down barriers to low-carbon solutions and improve energy efficiency in the residential multi-unit building sector,” she said.

Between Efficiency Capital’s impact funding platform and Alberta Ecotrust Foundation’s Climate Innovation Fund, over $140 million in capital can be mobilized into project investments. Interested building owners and trade allies can find more information at buildings@albertaecotrust.com.