July 18, 2019, New York, NY – EMPEQ, Inc. (https://empeq.co), an energy-efficiency fin-tech company, has been awarded $500,000 by the New York State Energy Research and Development Authority (NYSERDA) (www.nyserda.ny.gov), for EMPEQ’s novel business model which proliferates cleantech solutions. EMPEQ provides swift, safe, and simple financing for small and medium-sized businesses for operational equipment upgrades.
Herbert Dwyer, CEO of EMPEQ, provided the following commentary: “Receiving the grant contract through this opportunity presented by NYSERDA has allowed EMPEQ to hire strategic leadership team members, secure vendor partnerships to grow the business, and further the fin-tech platform that is the engine behind EMPEQ. Our partnership with NYSERDA continues to be a catalyst for our growth and their commitment to our region is one of the biggest reasons why Central New York is such a great place to do business.”
The aim of NYSERDA’s Novel Business Model and Offering funds is to promote novel business models and commercial service or product offerings, such as EMPEQ’s, that enable scaling of the deployment of clean energy technologies for companies. The grants intend to empower novel models and offerings to proliferate clean energy in a market that is frequently met with resistance due to high startup costs and uncertainty in financial returns.
Alicia Barton, President and CEO, NYSERDA said, “Novel business models enable proven clean energy solutions to be more rapidly deployed by helping to navigate market barriers to growth and I congratulate EMPEQ on this award. As New York continues its leadership position on climate and clean energy issues under Governor Cuomo’s nation-leading goals, it’s imperative we maintain our support for bringing solutions to some of our most pressing challenges to market quickly to help us address the impacts of climate change head-on.”
Founded by three Upstate New York natives, EMPEQ allows small to mid-sized businesses in any sector to upgrade their essential building equipment, such as HVAC or lighting, with simple and swift financing through their fin-tech subscription model. There are few financing solutions that can approve an organization for a financial solution with just two pieces of information without need for a personal guarantee, and EMPEQ is one of them.