TORONTO, June 10 /CNW/ - RESCoLease Corp. announced today the launch of a
Vendor Finance Program (VFP) to support manufacturers, distributors, and
retailers of renewable energy systems. This program is tailored to the
emerging cleantech market. "We have put funding together with our own in-house
technology team to provide intelligent financing for this rapidly growing
market," says Jim Mulheron, President of RESCoLease.
The Vendor Finance Program provides suppliers of clean technology with
the ability to offer financing to their customers, enabling them to capitalize
the cost of these solutions. "This market has many short-term payback
solutions, but also a great number that are infrastructure related and require
20-yr financing," adds Mr. Mulheron.
RESCoLease has built relationships with vendors of solar thermal, solar
photovoltaic, small wind, bio-gas, bio-mass, and combined heat and power (CHP)
technologies. By launching the Vendor Finance Program, RESCoLease will be able
to further support the sales functions of these partners.
This is part of the growing role that RESCoLease and the other RESCo
companies are playing in the development of the cleantech and renewable energy
sector. Originally an in-house financing program, RESCoLease was formed as a
joint venture with Manulease Capital, to make financing available to other
organizations. These services include financing, leasing, lines of credit and
now vendor financing.
According to Fidel Reijerse, President of RESCo Energy Inc., "financing
for renewables is a critical part of the market development, and making these
services available to those interested in producing their own green energy has
been well received by vendors and building owners alike."
About RESCoLease Corp.
RESCoLease provides third-party financing to industrial, commercial and
institutional clients. The focus is on cleantech and renewable energy systems,
leveraging the traditional equipment leasing and financing, operating lines of
credit, and receivables financing expertise. RESCoLease Corp. is part of the
RESCo group of companies that include RESCo Energy Inc., a developer of
building-integrated renewable energy, and RESCo Technical Services Ltd, a
professional services company providing engineering and design services for
renewable energy generation projects.
For further information:
For further information: Kevin Monsour, VP Partner Development, (905)
607-9354, firstname.lastname@example.org; RESCoLease Corp., 1 First Canadian
Place, Suite 350, Toronto, Ontario, Canada, M5X 1C1, www.rescoenergy.com