PEABODY, Mass.–(BUSINESS WIRE)–Energi, a leading provider of risk management and insurance programs for the energy industry, has partnered withNew England Energy Management Inc. (NEEM), a Connecticut-based full-service energy service company, to backstop savings guarantees on NEEM’s lighting retrofit projects. Among the projects where NEEM has employed Energi’s Energy Savings Warranty are six lighting upgrade projects at General Motors Co. (GM) facilities totaling more than 135 GWh of energy savings.
“With more than 25 years implementing and installing efficiency projects, we know what customers are looking for in their projects”
NEEM installed lighting upgrades and fixture retrofits for GM manufacturing facilities in Fort Wayne and Marion, Indiana; Lordstown, Ohio; Wentzville, Missouri; and GM campuses in Warren and Milford, Michigan. These measures totaled more than 60,000 units and included the largest-ever LED installations for GM. Under the Energy Savings Warranty, Energi will cover energy savings shortfalls resulting from the design or installation of the lighting retrofits.
Energi’s Energy Savings Warranty program was specifically developed to provide investment grade security into the performance guarantees offered by contractors. “The concept of financing building improvements using future utility bill savings is still new to many building owners,” said Chris Lohmann, Vice President of Alternative Energy Solutions at Energy. “However, the work of outstanding engineering firms such as NEEM, backed by an Energy Savings Warranty, is so dependable that you can literally take it to the bank—creating a more profitable building, with a net positive impact to the bottom line from day one.”
Recently, in part due to its work with GM, Detroit Edison (DTE) ranked NEEM as the top contractor in generating customer energy savings in Michigan. As part of its project performance guarantee, NEEM guarantees the performance of the GM projects and its other efficiency retrofits on an annual basis, giving the project owners greater security for the project financials.
“With more than 25 years implementing and installing efficiency projects, we know what customers are looking for in their projects,” said Scott Hinson, President and CEO of NEEM. “In addition to now-standard offers like turnkey services and energy savings guarantees, customers want an additional level of risk mitigation for contractors. Energi’s ESW adds financial and engineering security and unlocks deals, driving energy efficiency forward.”
William Gallagher Associates Insurance Agency and All American Investment Group, an investment bank, played key roles in developing the GM retrofits. The NEEM partnership follows recent ESW deals in Honolulu, Hawaii and Toronto, Canada.
Energi is a Peabody, Massachusetts-based industrial reinsurance company that provides specialized insurance and risk management products to targeted market segments of the North American energy industry. The core programs include fuel distribution, fuel transport, energy construction, agricultural cooperatives, renewable energy, energy efficiency, utilities and oil & gas exploration. Founded in 2005 by insurance professionals and energy industry leaders, Energi is licensed in all 50 states and Canada. For more information, visit www.emaxxgroup.com.
NEEM is headquartered in Brookfield, CT, with locations in Michigan, Florida, North Carolina and Sao Paulo, Brazil. NEEM has been providing “turn-key” energy efficiency solutions to the America’s for over 25 years. NEEM specializes in improving the energy efficiency within Commercial, Industrial and Municipal facilities. Services include: comprehensive energy efficiency studies, incentive processing and installation of recommended energy conservation measures. NEEM also offers energy resale services, and other related energy efficiency consulting services.