A website dedicated to matching combined heat and power (CHP) project developers with investors has been launched in the US.
The mission of CHP-Funder.com is “to speed time-to-funding for viable CHP projects and to connect such projects to the broader venture capital market”, according to a statement.
The new site aims to help developers secure funding under a number of models including direct ownership of a CHP plant (via internal funds, debt financing through loans, bonds and equity financing) and third-party ownership (via lease financing, contract financing through power purchase agreements (PPAs) or special-purpose entities).
The site is hands-on, with developers matched to investors and then assisted throughout the contact and vetting process.
CHP-Funder was founded by two engineers, Jim Scherrer and Steve Krug, who describe themselves as evangelists for CHP. Located in Pennsylvania state atop the eastern fringe of the Marcellus shale formation, the engineers say: “There is quite a bit of natural gas coming for the balance of our lives, and CHP is a very efficient way of using this paleo-solar energy”. The site, they said, “takes the hassle out of investment in CHP projects”.
“Project owners appreciate having quick access to funders, thus ensuring their milestones can be met on time and within budget,” the engineers added. “And, energy investors appreciate this single source portal for its succinct project characterization.”