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Classified in: Business
Subjects: FINANCING AGREEMENTS, BOARD OF DIRECTORS

AltCrest Energy Announces Close of Seed Equity Raise and New Board


TORONTO, Feb. 06, 2024 (GLOBE NEWSWIRE) -- AltCrest Energy ("AltCrest") is pleased to announce the closing of its seed equity raise and the appointment of a newly constituted Board of Directors which further enhance its ability to support the real estate industry's transition to net-zero by developing on-site rooftop solar PV and geothermal systems.

AltCrest's new Board includes Anthony Broccolini (CEO ? Broccolini), Trevor Blakely (CEO ? Forgestone Capital), Stu Wanlin (EVP ? QuadReal Property Group-retired), and Ben Gilbank (Founder & CEO of AltCrest). With their combined multi-decade experience across institutional real estate development, investments, capital markets, and operations, and a shared focus on sustainability, the AltCrest team is uniquely positioned to deliver net-zero results for its real estate clients.  

"AltCrest is poised to deliver on its next stage of growth. The Energy-as-a-Service ("EaaS") model used by AltCrest is emerging as a key component of the global energy transition, with the EaaS market expected to grow at a compound annual growth rate of 9.8%, reaching $103 billion by 2028," says Ben Gilbank. "The transition to net-zero in real estate is complicated, capital-intensive, and requires both renewable energy and real estate expertise. AltCrest is the only player in the Canadian market with the requisite offering."

"Net-zero is quickly becoming the only standard that matters," adds Anthony Broccolini. "AltCrest's offering directly supports our company's ESG objectives and the net-zero demands of the market."

"In our view, AltCrest's offering is aligned with this real estate cycle," comments Trevor Blakely. "Going forward, sustainable development will increasingly emerge as a market standard."

About AltCrest Energy
AltCrest Energy is a Toronto-based renewable energy developer supporting the real estate industry's transition to net-zero. AltCrest develops rooftop solar PV and geothermal systems under an EaaS framework. AltCrest delivers capital and operating cost savings to its real estate clients and their tenants by investing in on-site energy systems, while meeting decarbonization objectives.

For more information, visit www.altcrestenergy.com or contact [email protected].



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