BRIGHTON, Mich., Jan. 11, 2018 (GLOBE NEWSWIRE) — CGE Energy (OTCPINK:CGEI) announced its backing from a major capital provider to fund energy projects. CGE’s financing partner—a global vendor finance company and subsidiary of one of the world’s largest banks with total assets of over $900 billion—was not disclosed. Last year, the group helped CGE fund […]
BRIGHTON, Mich., Jan. 11, 2018 (GLOBE NEWSWIRE) —
CGE Energy (OTCPINK:CGEI) announced its backing from a major capital provider to fund energy projects. CGE’s financing partner—a global vendor finance company and subsidiary of one of the world’s largest banks with total assets of over $900 billion—was not disclosed. Last year, the group helped CGE fund $7.7 million in sales.
CGE’s funding partner worked with CGE to seamlessly mesh both parties’ contracts and create a funding program exclusive to CGE and its no capital cost “CGE Sustain” program. The funding, in combination with CGE’s investment into the customer, covers the capital cost of energy project equipment and installation, making it possible for the customer to receive the benefits of sustainable energy with no upfront cost.
By having a financial partner with a strong balance sheet, CGE can currently fund projects up to $10 million each. With thousands of potential projects in the CGE pipeline, having a strong capital provider and a streamlined funding process will allow CGE to grow without project financing limitations.
In addition to this and other funding relationships with major capital providers, CGE’s intent is to attract investors to build CGE’s first $100 Million dollar energy project portfolio fund. Investors include organizations such as pension/holding companies, insurance companies, or institutions seeking to diversify their portfolios and receive long-term returns on well-qualified energy projects.
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About CGE Energy
CGE Energy (OTCPink:CGEI) makes it easy for businesses, local governments, and non-profits to receive the benefits of sustainable energy projects with no upfront cost. CGE hand-selects the very best facilities to partner with and turns their wasted energy into immediate and continuous savings for the customer. By uniquely selling sustainability-as-a-service, CGE’s proprietary Sustain business model delivers an exclusive combination of today’s best energy efficiency and sustainable energy generation technologies, including CGE’s exclusive WIND-e20 wind turbine, http://www.cgeenergy.com.
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