Kanin Energy secures Credit Facility from PaceZero Capital Partners to advance Waste Heat to Power Projects across North America

TORONTO, Aug. 12, 2025 /CNW/ - PaceZero Capital Partners ("PaceZero") announced today that it has entered into a committed credit facility with Kanin Energy ("Kanin"). The funding will support Kanin's continued waste heat to power project development activities across North America.

"The demand for baseload electricity is rapidly rising; we see immense growth potential for waste heat to power," said Jordan Peckham, Founder and CEO of PaceZero. "Janice and the team at Kanin are best in class and mission aligned. We look forward to supporting them in bringing new commercial scale projects online."

Founded in 2020, Kanin Energy is a clean energy project developer focused on decarbonizing heavy industry by transforming industrial waste heat into baseload carbon-free power. Kanin's core offering is the development of waste heat to power (WHP) projects for heavy industry sectors such as natural gas, cement, refineries, steel, and other metals.

"Innovative financing like this is a powerful catalyst for the energy transition, helping accelerate clean energy deployment in hard-to-abate sectors," said Janice Tran, CEO of Kanin Energy. "Development capital is traditionally the hardest to access, yet it is absolutely critical in moving projects from concept to reality. We're excited to partner with PaceZero to unlock the untapped potential of waste heat and deliver affordable, clean energy to our industrial partners."

Project Development Model
Kanin provides end-to-end solutions, covering project design, engineering, construction, operations, and maintenance, using third-party capital to minimize initial costs. By delivering clean power without requiring host facilities to invest upfront, Kanin helps industrial partners decarbonize operations, lower energy costs, and generate revenue from their waste stream.

Technology
Waste heat to power systems generate baseload electricity by capturing high-temperature exhaust and converting it into power through closed-loop thermodynamic cycles that operate independently of host facility's core industrial processes. A key technology in this approach is the Organic Rankine Cycle (ORC), which uses a low-boiling-point working fluid that continuously evaporates and condenses to drive a turbine. ORC systems are well-suited for medium-grade heat and can be deployed with minimal disruption to existing operations.

About PaceZero Capital Partners
PaceZero Capital Partners is an independent, sustainability-focused private debt firm, headquartered in Toronto, Canada. PaceZero executes credit investments in established, high-growth companies developing innovative technologies that drive improved social and environmental outcomes.

About Kanin Energy
Kanin Energy is a turnkey developer of waste heat to power projects that convert industrial waste heat into clean electricity, helping heavy industry decarbonize while delivering cost savings, reliable energy, and long-term environmental impact.

SOURCE PaceZero Capital Partners

Media Contact: PaceZero Capital Partners, Ryan Finn, [email protected]; Kanin Energy, Inc., Eeshwar Dutt, [email protected]