CounterpointeSRE Funds Commercial Laundry Project Yielding Carbon Emissions Reductions & Benefits to the Chesapeake Bay
CounterpointeSRE provides C-PACE capital for wastewater heat recovery system at one of Maryland’s largest commercial laundry facilities, Up to Date Laundry of Baltimore.
Date: July 11, 2022
Counterpointe Sustainable Real Estate (CounterpointeSRE) announced today it has provided over $1.1 million of Commercial PACE financing to support energy efficiency capital improvements for Up to Date Laundry (UTD), one of the largest healthcare laundry providers on the east coast and the State’s largest commercial laundry facility.
Entering its 70th year of operations UTD processes close to 60 million pounds of linen at its Baltimore facility and is projected to decrease its energy use by 387,000 therms per year through the heat recovery system and related improvements. UTD is already TRSA Clean Green Certified and this heat recovery system installation reinforces their green commitment.
“The financing from CounterpointeSRE through the C-PACE program is helping facilitate a project that is great for the environment but would not have been in our capital improvement budget for the upcoming year,” stated Mark Carter, President and CEO of Up to Date Laundry.
The technology behind the savings is a wastewater heat recovery system from Kemco Systems, a Clearwater Florida-based company. The Kemco heat reclaimer preheats freshwater by passive transference of heat from wastewater. This reduces the energy required to actively heat water for cleaning and substantially reduces the temperature of the outgoing wastewater. Not only does this heat recovery system benefit the local water systems and the balance of aquatic life, but the anticipated reduction in greenhouse gas from energy production is 1,900MT CO2e annually.
“These projects help commercial and industrial clients conserve energy while also having a positive impact on the environment and their community,” states, Kemco Systems President and CEO, Tom Vanden Heuvel, “At Up To Date Laundry we are significantly reducing the energy required to heat their process water, saving them money and tons of CO2 emissions, demonstrating that it is possible to be both good stewards of the environment and good business entities.”
The financing from CounterpointeSRE through the C-PACE program is helping facilitate a project that is great for the environment but would not have been in our capital improvement budget for the upcoming year.
“Up to Date Laundry’s project is an example of how a modest investment can have a meaningful impact,” suggested Michele Pitale, Managing Director of CounterpointeSRE. “With a single improvement, they will reduce the building’s OPEX, preserve aquatic life, and provide a large reduction in the building’s carbon emission.”
The measures financed through PACE are anticipated to produce a reduction of over $6.5MM in utility costs over the term with additional incentives and rebates estimated at over $1.2MM to be retained by the facility.