DAVIS, CA — (Marketwire) — 09/14/11 — Octus, Inc. (OTCBB: OCTI), an innovative California-based resource efficiency company, today announced the debut of PACEWorks, a platform to develop, implement and manage Property Assessed Clean Energy (PACE) financing programs.
“The linchpin for unlocking the clean energy market is financing,” said Octus CEO Chris Soderquist. “PACE financing — initially for commercial and multi-family buildings, and eventually for residential properties — is poised to catalyze the retrofit of inefficient buildings and the installation of renewable energy systems, and the PACEWorks platform puts Octus out in front of this high-growth industry.”
PACE financing enables property owners to make renewable energy, energy efficiency, and water efficiency improvements through low-interest, long-term loans secured by voluntary property tax assessments. Financing terms are based on the life of the improvement (up to 20 years) and payback responsibility can be transferred with property ownership — making PACE one of the most attractive loan products for lenders and property owners alike. Twenty-four U.S. states and the District of Columbia have passed laws enabling PACE financing.
Through PACEWorks, Octus provides turnkey program services, including PACE program creation, sales and marketing, contractor training, project qualification, and project financing. Octus has partnered with trade, professional and financing organizations to deploy PACEWorks. In concert with RebateWorks, Octus– comprehensive rebate procurement and management service, PACEWorks strengthens Octus– ability to finance clean energy measures.
According to a baseline forecast scenario in a report by Pike Research, $2.5 billion will be invested annually in financing for retrofits in commercial properties through PACE by 2015, creating 50,000 new jobs and preventing 8 million metric tons of carbon dioxide emissions.
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. You can learn more about Octus at , and more about PACEWorks at .
Contact:
Chris Soderquist
Octus
530/564-0200