DAVIS, CA — (Marketwire) — 08/02/11 — Octus, Inc. (OTCBB: OCTI), a leading resource efficiency company, today announced it has completed seven water efficiency projects for multi-family apartment communities.
“We believe water is the next frontier for resource efficiency due to rapidly increasing water costs and ever constrained supply,” said Octus CEO Chris Soderquist. “Our strategy in this area is to implement turnkey water efficiency solutions for apartment, hospitality and senior care management companies, whereby we identify and capitalize water utility rebates and deploy solutions that maximize utility bill savings. This is a market-driven expansion of our building efficiency financing platform.”
The water-saving retrofit projects involved the replacement of inefficient toilets with high-efficiency systems in Northern California apartment complexes, generating an estimated 5.3 million gallons of water savings per year. Octus secured financing for the projects including $80,000 in utility rebates, significantly subsidizing the water-saving property improvement for the apartment management and investment groups.
“When property owners implement resource efficiency measures, they generate superior risk-adjusted returns and enhance the amenity and value of their assets,” said Soderquist. “Octus collaborates with utilities and facilitates the needed project financing, thus delivering comprehensive building efficiency solutions with minimal or no out of pocket investment for property owners.”
In February 2008, California Governor Arnold Schwarzenegger directed state agencies to develop a plan to reduce statewide per-capita urban water use by 20 percent by the year 2020. Octus is collaborating with water utilities to implement water conservation measures — including high-efficiency toilets, showerheads, faucet aerators, and irrigation systems — that drive conservation and generate significant utility bill savings.
About Octus, Inc.
Octus, Inc. (OTCBB: OCTI) is a leading building efficiency company headquartered in Davis, California that significantly reduces the utility costs of commercial, multi-family and institutional buildings through the financing and implementation of energy-efficient lighting, HVAC and water management systems and products. Octus– project development division, Quantum Energy Solutions, has completed more than 1,500 building efficiency projects for clients that include ARCO, Bank of America, Blockbuster, Delta Airlines, Frito Lay, Hewlett-Packard, Home Depot, Ikea, Nabisco, Pepsi, Petco, Safeway, Sears, and University of California.
Contact:
Chris Soderquist
Octus
530/564-0200