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Noventa Energy Retrofits

Sector(s)
Green Infrastructure
Location(s)
Across Canada
Participation
$100 million
(Under construction)
Partner(s)
Noventa Energy Partners Inc., and Ancala Partners LLP

Enabling low-carbon upgrades of heating and cooling systems in buildings

Noventa’s delivery model for building upgrades allows clients to reduce energy use.

Fast facts

Reducing GHG emissions from buildings by 70%
Upgrading buildings to low-carbon heating and cooling systems
Retrofits are critical to meeting climate change goals

We are collaborating with Noventa Energy Partners (Noventa), and Ancala Partners LLP (Ancala) on decarbonizing buildings through sustainable retrofits. The projects will rely on Noventa’s Wastewater Energy Transfer™️ (WET™️) Systems, anchored by HUBER ThermWin®️ technology, which harness the thermal energy in wastewater to provide low-carbon heating and cooling to buildings.

Noventa’s Energy-as-a-Service model will help building owners manage capital and operating costs of upgrades.

The investment is part of our Building Retrofits Initiative (BRI), which provides long-term investment solutions focused on upgrades which modernize and improve the energy efficiency of existing buildings.

Benefits of CIB’s Involvement

We tailor financing solutions to organizations, municipalities and businesses looking to advance their green projects and meet their sustainability targets. We are transforming the retrofits market by leading the way for private financing.

Our investment will help finance upfront capital costs of retrofits, which will be repaid through the sharing of energy savings over a period of several years.

Learn more

Diagram of Noventa's WET™ system, depicting the sanitary sewer, the Wetwell and the energy transfer station
Birdseye view of large civil infrastructure (Wetwell) with several workers inside
Two HUBER Rowin® wastewater heat exchangers, pictured side by side
Noventa Energy Partners

This funding commitment from CIB coupled with the financial support and resources of our major shareholder, Ancala, will allow us to execute on our Wastewater Energy Transfer™️ projects at the nine (9) sites approved by Toronto City Council last year. Once commissioned over the next four years, these projects will achieve meaningful GHG emissions reductions, significantly less water consumption, and energy cost savings for our customers.

Dennis Fotinos, Chief Executive Officer
Government of Canada

Increasing the energy efficiency of Canada’s buildings is key to reaching net-zero by 2050. Through this investment from the Canada Infrastructure Bank, building operators will be able to access financing that will allow them to accelerate the implementation of energy-efficiency measures.

Hon. Dominic LeBlanc
Ancala Partners

Dennis and his team at Noventa are uniquely placed to help building owners to significantly reduce their carbon emissions and heating costs while improving their energy ratings. Alongside the CIB, we look forward to working with the Noventa team to provide our capital and expertise to help grow the business. We are actively looking to invest in and support more exciting renewable energy specialists like Noventa.

Lee Mellor, Partner