Institute for Advanced Study Partners with Redaptive To Achieve Significantly Reduced Carbon Emissions
Through the partnership, Redaptive is installing a geothermal system demonstrating the company's aggressive expansion of its holistic, multi-faceted Energy-as-a-Service offering.
SAN FRANCISCO, Oct. 21, 2021 /PRNewswire/ -- Redaptive, a leader in portfolio-scale energy solutions, today announced its partnership with the Institute for Advanced Study (IAS), one of the world's leading postdoctoral research centers for theoretical research and intellectual inquiry. Together, Redaptive and IAS will greatly reduce energy consumption on the Institute's 800-acre Princeton, New Jersey campus while achieving $10.1 million in energy and infrastructure savings for the organization.
Through the partnership, Redaptive is installing a geothermal system demonstrating the company's aggressive expansion of its holistic, multi-faceted Energy-as-a-Service offering. As part of the efficiency measures, Redaptive has installed LED lighting, a hot water recovery system, and variable-frequency drives (VFDs). The upgrades are expected to reduce the campus's annual energy use by 2.83 million kilowatt-hours (kWh) and 226,000 therms. That is equivalent to 3,200 metric tons of CO2 emissions or the greenhouse gas emissions from 696 passenger or 385 homes' energy use.
The IAS partnership with Redaptive positions the Institute as a national climate leader, putting it ahead of most other learning and research institutions in its path towards net neutrality. Of the 450 teaching institutions that have pledged to work toward carbon neutrality since 2007, according to Second Nature, only 10 have presently reached their goals. With atmospheric levels of carbon dioxide at an all-time high, higher education and research institutions are joining corporate and commercial energy users to lead in emission reduction. IAS' work with Redaptive also further demonstrates the partners' emphasis on reducing emissions rather than offsetting them as many corporations do, according to a recent UN report.
"We're proud to help set the national pace for educational institutions seeking to eliminate their carbon footprint and create sustainable energy systems," said Janine M. Purcaro, Chief Operating Officer, for IAS. "The Redaptive team has been an exceptional partner, maintaining flexibility and working to achieve our goals with the resources available to us. Redaptive's Energy-as-a-Service program makes it possible for us to have a large-scale positive impact on the environment within our chosen financial resources."
"Educational and research institutions face an enormous opportunity to reduce their carbon footprint and create sustainable, cost-saving infrastructure through efficiency upgrades and integration of renewable energy," said Arvin Vohra, CEO of Redaptive. "Our partnership with the Institute marks the first net-neutral oriented project in Redaptive's portfolio. It is a major step forward for our green technology work and aligns with our long-term mission to change how buildings consume resources."
Redaptive provides fully funded portfolio-scale energy upgrades leveraging data and generating turnkey building savings for enterprise customers. The company's flexible capital solutions and contracting structures help customers with distributed real estate portfolios and large single sites overcome financial and logistical barriers for energy savings. Redaptive helps universities, Fortune 500 companies, and other customers reduce costs and reach carbon-reduction targets, all while maintaining optimal building asset performance.
An infographic is available with additional project details: https://redaptive.com/wp-content/uploads/IAS-Redaptive-Geothermal-Infographic.pdf
About the Institute for Advanced Study
The Institute for Advanced Study is one of the world's foremost centers for theoretical research and intellectual inquiry. Located in Princeton, NJ, the IAS is dedicated to independent study across the sciences and humanities. Founded in 1930, the Institute is devoted to advancing the frontiers of knowledge without concern for immediate application. From founding IAS Professor Albert Einstein to the foremost thinkers of today, the IAS enables bold, curiosity-driven innovation to enrich society in unexpected ways.
Each year, the Institute welcomes more than 200 of the world's most promising post-doctoral researchers and scholars who are selected and mentored by a permanent Faculty, each of whom are preeminent leaders in their fields. Among present and past Faculty and Members there have been 35 Nobel Laureates, 42 of the 60 Fields Medalists, and 21 of the 24 Abel Prize Laureates, as well as many MacArthur Fellows and Wolf Prize winners.
About Redaptive
Redaptive is an Energy-as-a-Service provider that funds and installs energy-saving and energy-generating equipment. Redaptive's programs help many of the world's most sophisticated organizations reduce energy waste, save money, lower their carbon emissions and meet their sustainability goals across their entire real estate portfolios. With Redaptive, customers can overcome capital and contractual barriers to achieve energy-saving benefits quickly, all with real-time data powered by International Electron, Redaptive's in-house Data-as-a-Service metering platform. Redaptive was founded in 2015 and is headquartered in San Francisco, CA. For more, visit https://redaptive.com.
Contacts:
Redaptive
Barbara Leavitt
[email protected]
Institute for Advanced Study
Lee Sandberg
609.455.4398
[email protected]
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SOURCE Redaptive
