CORRECTING and REPLACING Alturus LLC and Generate Form Sustainable Infrastructure Financing Partnership for Fortune 1000 Customers

$600 Million available for financing energy efficiency, generation and storage initiatives that help companies meet sustainability goals and reduce energy costs

BOSTON & SAN FRANCISCO--(BUSINESS WIRE)--Please replace the release with the following corrected version due to multiple changes to the fifth paragraph.

The updated release reads:

ALTURUS LLC AND GENERATE FORM SUSTAINABLE INFRASTRUCTURE FINANCING PARTNERSHIP FOR FORTUNE 1000 CUSTOMERS

$600 Million available for financing energy efficiency, generation and storage initiatives that help companies meet sustainability goals and reduce energy costs

Alturus, a leading provider of sustainable infrastructure finance and advisory services, today announced a new partnership with Generate. The partnership provides Alturus with up to $600 million to be deployed into energy efficiency, onsite generation and storage solutions for its Fortune 1000 customers. Generate has also made a minority investment in Alturus and David Perl, a Managing Director at Generate, will join the Alturus Board of Directors.

“Alturus has developed a highly differentiated approach to helping Fortune 1000 companies meet their sustainability goals and infrastructure upgrade needs in this multi-trillion-dollar market opportunity. They serve as a strategic partner for their customers and help them to identify the most effective ways to reduce the greenhouse gas emissions and energy costs of their operating facilities without any upfront investment required,” said Scott Jacobs, CEO of Generate. “The management team at Alturus has a long track record of identifying, developing and delivering market leading sustainability products for the Fortune 1000. With more than 1000 customers across North America already depending on Generate for affordable, reliable, sustainable energy solutions, our partnership with Alturus will accelerate the transition to a decentralized, decarbonized, democratized and digitized resource infrastructure.”

Alturus was founded in 2018 to accelerate corporate energy and sustainability initiatives. Alturus has developed a suite of advisory services and contract structures that enable customers to leverage the most efficient lighting, HVAC, building control, onsite cogeneration, energy storage and water treatment technologies available at no upfront cost. Alturus identifies, optimizes, develops and finances portfolios of projects on behalf of its customers. Projects are deployed and managed using Alturus’ proprietary service-based contract model. This enables customers to deploy programmatic solutions at scale, accelerating reductions in carbon emissions and energy costs.

“Historically, even if they have known about opportunities for significant emissions reduction or cost savings, Fortune 1000 companies have had difficulty implementing energy efficiency programs at scale,” said Charles Esdaile, Managing Partner of Alturus. “Projects have had to compete for internal capital against core business activities that are treated as higher priorities. This partnership with Generate allows us to remove those barriers and provide our customers with an attractive, scalable, service-based solution that helps to bring enterprise-wide energy efficiency programs to the frontlines of sustainability conversations unlike ever before.”

“Partnering with Alturus has enabled us to take a more centralized, strategic view of our existing corporate energy management and facility upgrade initiatives. Their unique approach has helped us quickly assess the value of using outside capital to support our energy efficiency investments across our entire manufacturing footprint. The work we are doing with Alturus will accelerate our ability to deliver on our sustainability commitments, reduce our carbon footprint and control our energy costs – while simultaneously freeing up our capital for other projects,” said Rodgers Greenawalt, EVP of Operations as Berry Global Group, Inc., an Alturus customer.

“Alturus is thrilled to partner with Generate for the next phase of our growth,” said Christopher Hayes, Managing Partner at Alturus. “Generate’s investment in our company and the availability of up to $600 million for Alturus-led energy efficiency, generation and storage programs will help us to reinvent the way that today’s most sophisticated companies manage the energy-based infrastructure at their facilities worldwide.”

About Alturus

Alturus provides comprehensive infrastructure and energy efficiency advisory and development services to large companies that are interested in reducing the emissions footprint and energy costs associated with operating their facilities - without any upfront investment required. Customers rely on Alturus to identify and develop centralized, scalable and programmatic solutions for all of their lighting, HVAC, building control, onsite cogeneration, energy storage and water treatment projects. For more information, please visit www.alturus.com.

About Generate

Generate is the one-stop shop driving the Infrastructure Revolution, providing both money and support to project developers, technology companies, and system integrators while delivering affordable, reliable and sustainable resources to customers. Founded in 2014, Generate works with infrastructure pioneers to build, own, operate, and finance the sustainable infrastructure that provides affordable, reliable resources to more than 1000 companies, communities and campuses. Together, we are rebuilding the world. For more information, visit www.generatecapital.com.