May 16, 2019   SOURCE: PR NewsWire

IBTS Signs New Master Service Agreement with LordCap PACE

ASHBURN, Va., May 16, 2019 /PRNewswire-PRWeb/ -- The Institute for Building Technology and Safety (IBTS) is excited to announce a new master service agreement (MSA) with LordCap PACE to provide technical and professional services, including contractor evaluations, energy audit reporting, and other property holder related services.

LordCap PACE is a pioneer in green energy finance for commercial buildings and in ESG (environmental, social, governance) investments. Its parent, Lord Capital LLC, has structured and consolidated over $86 billion of trade assets in the Americas, Asia, and Europe.

Property Assessed Clean Energy (PACE) financing covers hard and soft costs of energy savings projects and other improvements, allowing property owners to use a tax mechanism to repay the project over a significant period, up to 30 years.

"LordCap PACE is excited to partner with IBTS," says Joe Lau, Chief Operating Officer of Lord Capital. "IBTS' expertise in quality management and LordCap's leadership and dedicated capital for commercial PACE is a differentiator for our team to provide competitive and market-leading solutions that promote both economic efficiency and environmental sustainability."

Under the MSA, IBTS' Energy & Sustainability Division will provide quality management to ensure state, local, and LordCap PACE program compliance across the project lifecycle, including: 

    --  Compiling and reviewing contractor information for compliance with
        state, local and LordCap PACE program requirements
    --  Review of energy audit reports conducted by the property holder or their
        contractor
    --  Building envelope design review of all construction documents
    --  Quality control via onsite construction verification inspections

IBTS has years of experience performing quality management and oversight for residential and commercial PACE programs, and is a Market Partner for the Department of Energy's Commercial PACE Working Group (C-PACE) - a cohort of state and local governments working together to learn about, launch, and refine C-PACE financing programs.

SOURCE Institute for Building Technology and Safety