Veteran-Led Startup, EMPEQ, Is Awarded $100K Through NYSERDA’s Exclusive Ignition Grant to Provide Seed Capital

EMPEQ was awarded the Ignition Grant through eligibility as a “Client Company” in NYSERDA-Sponsored Clean-Energy Incubators.

June 20, 2019, New York, NY – EMPEQ, Inc. (https://empeq.co), an energy-efficiency fin-tech company,  has been awarded $100,000 by the New York State Energy Research and Development Authority (NYSERDA) to support the next stage of growth for the startup company. EMPEQ provides swift, safe, and simple financing for small and medium-sized businesses, nonprofits, and municipalities for building equipment upgrades. NYSERDA provided funds through its Ignition Grants, available for client companies of NYSERDA-sponsored clean energy incubators that require seed capital to achieve technical or commercialization objectives that will help achieve near-term outcomes.

“Receiving the Ignition Grant contract propelled EMPEQ into the next stage of growth allowing for increased capacity in all facets of the business,” said Herbert Dwyer, CEO of EMPEQ.

The aim of the Ignition Grants is to best position the client companies working with NYSERDA-sponsored incubators, such as EMPEQ, to attract and secure sufficient follow-on capital to commercialize clean energy innovations and accelerate their time to market. NYSERDA’s strategy for the Ignition Grants initiative is to make highly targeted, timely seed investments in incubator client companies that will directly impact near-term outcomes for these ventures, such as raising investment capital, securing corporate/strategic partnerships, and engaging potential customers/partners.

EMPEQ allows small to mid-sized businesses in any sector to upgrade their essential building equipment, such as HVAC or lighting, with quick and easy financing through their fin-tech subscription model. There are very few financing solutions that can quickly approve an organization for a financial solution with just a few pieces of information without the need for a personal guarantee, and EMPEQ is one of them.

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About EMPEQ

EMPEQ solves the three biggest problems that stop small to mid-sized organizations from taking advantage of energy efficient equipment:

1. Upfront cost

2. Time-consuming loan review

3. Decision-makers having to personally guarantee corporate loans or leases

With EMPEQ, a multi-family, commercial, nonprofit, or municipal organization can use energy efficient equipment, such as LED lighting or an air source heat pump system, without upfront cost by providing just their corporate name and address for financial review. Within 48 hours, approved organizations can simply sign a service contract with EMPEQ and then an approved contractor will perform the installation. EMPEQ uses its unique financing model and proprietary FinTech platform to help channel partners like contractors and utilities to overcome the equipment financing challenges faced by their customers.

EMPEQ MEDIA CONTACT: Herbert Dwyer, Co-Founder and CEO, at herbert.dwyer@empeq.co