Essential Properties Realty Trust, Inc. Announces Sustainability Partnership with Budderfly Inc.
12 Setembro 2022 - 7:30AM
Business Wire
- Potential for up to 30% Reduction in Carbon Footprint from
Sustainability Upgrades
- Implementing Sustainability Measures Guarantees Energy Savings
to EPRT Tenants
- EPRT is Providing “Green” Capital to Facilitate Sustainability
Upgrades
Today, Essential Properties Realty Trust, Inc. (NYSE: EPRT) (the
“Company” or “EPRT”) announced, as part of its Essential
Sustainability strategy, a partnership with Budderfly Inc.
(“Budderfly”), the fastest growing Energy-Efficiency-as-a-Service
("EEaaS") provider in the United States. The Company’s first
sustainability partnership aims to deliver operating savings to its
tenants by deploying sustainability upgrades that are estimated to
reduce the carbon footprint of the upgraded properties by up to
30%.
Under the program, EPRT plans to invest capital in more
efficient technologies and equipment upgrades that Budderfly will
install and manage. The sustainability upgrades will include, but
are not limited to: the installation of LED lighting and lighting
controls, higher efficiency HVAC units along with HVAC controls and
monitoring, refrigeration controls and monitoring, solar solutions,
and net metering and controls. Budderfly’s established
methodologies as a leading EEaaS provider include identifying the
optimum sustainability upgrades to deploy, completing the
installation, maintaining the upgrades, and monitoring utilization.
Tenants will receive an immediate reduction in their monthly
utility costs and will have access to valuable data about their
energy consumption, monthly savings, and carbon footprint
reduction— all with Budderfly’s Facility Smart Grid.
“Our goal in launching the sustainability partnership with
Budderfly is to generate a meaningful reduction in the carbon
footprint of our portfolio and contribute to our primary objective
of maximizing shareholder value,” said Julia Burman, EPRT’s
Director of Sustainability. “In addition, we believe our actions
can strengthen our tenant relationships helping them reduce their
energy usage, increase their profitability through lower operating
costs, and create opportunities for increased customer
attraction.”
“We are thrilled to partner with EPRT in the launch of this
significant sustainability initiative and to set a leading example
in the net lease space together,” said Tom Flynn, Vice President,
Corporate Strategy & General Counsel, Budderfly. “We’ve been
impressed by EPRT’s commitment to sustainability and their tenant
relationships, as clearly evidenced by their investment in the
success of this program and their commitment to aggressive savings
goals for tenants.”
About Essential Properties Realty Trust, Inc.
Essential Properties Realty Trust, Inc. is an internally managed
REIT that acquires, owns and manages primarily single-tenant
properties that are net leased on a long-term basis to companies
operating service-oriented or experience-based businesses. As of
June 30, 2022, the Company’s portfolio consisted of 1,561
freestanding net lease properties with a weighted average lease
term of 13.8 years and a weighted average rent coverage ratio of
4.0x. In addition, as of June 30, 2022, the Company’s portfolio was
99.9% leased to 322 tenants operating 469 different concepts in 16
industries across 46 states.
About Budderfly
Budderfly, the fastest-growing Energy Efficiency as a Service
(EEaaS) company in the United States, is the premier sustainability
partner for businesses with repeatable footprints, such as
restaurant chains, assisted living facilities, retail franchises,
and more. Budderfly installs, monitors, and manages a combination
of patented technologies, equipment upgrades, and proprietary
energy software for its customers at no out-of-pocket cost.
Businesses benefit with lower energy bills, a reduced carbon
footprint, more reliable operations, and an improved customer and
employee experience. Budderfly ranked #2 in energy companies and
#10 overall on the 2021 Inc. 5000 America’s Fastest-Growing Private
Companies list. For more information visit www.budderfly.com, or
follow Budderfly on Twitter @BudderflyEnergy and LinkedIn
@Budderfly Inc.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220912005375/en/
Investor/Media: Essential Properties Realty Trust, Inc.
Daniel Donlan, Senior Vice President, Capital Markets 609-436-0619
info@essentialproperties.com
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