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CleanDesign Income Secures C$10 Million in Financing to Purchase Additional hEMS Units

CleanDesign Income Secures C$10 Million in Financing to Purchase Additional hEMS Units

FirePower Capital provides C$10M in financing to cleantech company CleanDesign Income Corp. to increase cash flowing asset purchasing power

FirePower Capital, Canada’s entrepreneurial lender, investor and M&A advisor, announced the closing of a $10M credit facility for Toronto-based CleanDesign Income Corp.

“The electrification of drilling rigs and the impact on decarbonization initiatives in drilling operations across North America is accelerating the demand for hEMS units”

CleanDesign purchases hybrid Energy Management System (hEMS) lithium-ion battery units from CleanDesign Power Systems once they are installed and running on drilling rigs. This hEMS technology significantly reduces fuel consumption and CO2 emissions.

Each hEMS generates ongoing cash flow throughout the life of the unit. This financing allows CleanDesign to fulfill contracts for additional hEMS units throughout North America.

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“The electrification of drilling rigs and the impact on decarbonization initiatives in drilling operations across North America is accelerating the demand for hEMS units,” says Mark Lerohl, President and CEO of CleanDesign. “This credit facility will allow CleanDesign to aggressively ramp up purchasing power to meet the growing demand for our technology, which now leads the industry in the decarbonization of drilling rigs. With ninety-nine percent of CleanDesign’s revenue coming from the deployment of hEMS units, CleanDesign continues to positively impact environmental sustainability while providing an income-generating investment for our shareholders.”

“Cleantech is one of Canada’s fastest-growing sectors. FirePower is committed to understanding the demands and putting creative growth financing solutions to work, supporting the global potential of Canadian cleantech companies like CleanDesign,” commented Trevor Simpson, Associate Partner, Private Debt at FirePower.

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About CleanDesign Income Corp.

CleanDesign Income Corp. is a dividend-paying company. On an exclusive basis, CleanDesign acquires hybrid Energy Management Systems (hEMS) from CleanDesign Power Systems, a related company. These purchases are realized only when the equipment is installed on the oil and gas company’s or rig operator’s equipment and is fully operational. The equipment then becomes a cash-flowing asset generating monthly revenue for CleanDesign.

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