Pilot program to provide energy efficiency and sustainability training, mentoring, and project funding support for small CT manufacturers
HARTFORD, Conn. (December 11, 2024) – The Connecticut Department of Economic and Community Development’s Office of Manufacturing, in partnership with the Connecticut Sustainable Business Council (CTSBC) and the Connecticut Green Bank (Green Bank), today announced the launch of GreenGain, a year-long pilot program designed to provide training, subject matter expertise, and financial resources to help smaller manufacturing companies in the state integrate energy efficiency, renewable energy, and other technologies and strategies into their operations. The program will support manufacturers in building more sustainable and resilient businesses, boosting economic growth, performance, and competitiveness.
GreenGain is funded through the Office of Manufacturing’s Manufacturing Innovation Fund (MIF) and will be administered by the Green Bank through a partnership with CTSBC.
Geared towards smaller manufacturing companies in Connecticut, GreenGain will provide participants with monthly training sessions led by experts in the areas of sustainability and green manufacturing as well as representatives from larger manufacturers that have robust corporate sustainability programs. Sessions will be focused on decarbonization, ESG reporting, green manufacturing practices, certifications like Ecovadis and additional sustainability topics. Participating manufacturers will also receive consulting support to implement sustainability practices, perform energy audits, complete energy efficiency upgrades and renewable energy projects, install carbon accounting software, and more.
Additionally, through GreenGain’s voucher program, companies will have the opportunity to apply for matching funds to finance related projects and initiatives.
“Sustainability is no longer just an option for businesses—it’s necessary to remain competitive in a rapidly changing business environment. GreenGain provides small manufacturers with a clear roadmap and much-needed resources and support to build more sustainable and resilient operations while meeting the growing expectations of customers and stakeholders. This program is an exciting step forward for Connecticut’s manufacturing sector and we’re excited about the positive impact,” said Heather Burns, CEO, CT Sustainable Business Council.
“One of the components of Connecticut’s Manufacturing Strategic plan is building resilient and sustainable companies,” said Paul Lavoie, Chief Manufacturing Officer for the State of Connecticut. “An essential part of that initiative is energy efficiency, and the GreenGain program is designed to increase engagement, education and enablement for the manufacturing sector to become more resilient and to help them compete in today’s global environment.”
“As energy intensive businesses, Connecticut manufacturers have always known and navigated the impact of energy costs. Now, they face increasing pressure from their customers and stakeholders to integrate sustainability and resiliency into their operations while demonstrating a commitment to ESG goals,” said Connecticut Green Bank Vice President of Financing Programs Mackey Dykes. “However, many of the smaller manufacturers don’t have the time, resources, or funding to explore improvement projects, such as energy efficiency or renewable energy, and make progress towards new goals. This is where GreenGain comes in, and we are proud to partner with the Office of Manufacturing and the Connecticut Sustainable Business Council to bring the program to life. Connecticut’s vital manufacturing sector is a critical component to our state’s overall economy, and GreenGain will help companies save money, save energy, reduce their carbon footprints, and increase their competitiveness.”
West Hartford-based Legrand, North America, is a leading global specialist in electrical and digital building infrastructures. They are one of GreenGain’s partner companies that will provide expert training and mentorship to program participants. Over the last three years, Legrand has earned a Platinum rating from EcoVadis, putting them in the top 1% of over 130,000 evaluated companies based on performance across Environment, Ethics, Social and Human Rights, and Responsible Purchasing.
“Sustainability and corporate responsibility are at the heart of Legrand’s operations. As a global company, achieving aggressive targets for renewable energy procurement, energy use reductions, and energy efficiency requires close collaboration with suppliers and our teams across all of sites,” says Michael Kijak, Legrand Director of Operational Excellence. “We also attribute our continuing success to many great state and federal programs available – including the DOE’s Better Plants Challenge and the EPA’s Smart Way program. We are very open about sharing our processes and best practices within our industry and look forward to sharing our knowledge and expertise with smaller manufacturers that will be participating in the GreenGain program.”
GreenGain builds off the successful “Energy on the Line” grant program that was funded by MIF and administered by the Green Bank. Between 2016 and 2023, Energy on the Line helped 30 manufacturers across the state complete 25 solar PV projects and seven energy efficiency projects while providing access to C-PACE financing to support project implementation and equipment installation. The program delivered significant energy and cost savings to participating companies—collectively, more than 405 million BTU in energy savings and $25 million in electric cost savings over the effective useful life of the equipment.
For more information on GreenGain or to apply for the program, visit ctsbcouncil.org/green-gain.
March 2025 Newsletter
/in Newsletters, NewslettersGreen Bank launches their second green liberty offering, announces enhancements to c-pace, annual awards, and more
Connecticut Green Bank Launches 12th Green Liberty Notes Offering
/in Investment Solutions, NewsSuccessful crowdfunding program continues supporting local small businesses and economic growth.
Hartford, CT (February 27, 2025)—CGB Green Liberty Notes LLC, a subsidiary of the Connecticut Green Bank, today announced the launch of its award-winning 12th offering. Now in its fourth year, the crowdfunding campaign is made possible by Honeycomb Credit, an online marketplace for impact investing.
“Our raises over the past few years have been a tremendous success, and we’re proud to continue that momentum,” said Bryan Garcia, President and CEO of the Connecticut Green Bank. “This program bridges the gap between the climate investment marketplace and our local economy by allowing investors across the country, including the communities of our state, to directly support energy efficiency for Connecticut small businesses.”
Featuring a low minimum investment of just $100, a short one-year term, and an easy online purchase process, Green Liberty offerings were created to be accessible to nearly anyone who wants to invest.
In total, more than $3 million has been raised from Connecticut citizens and buyers from 40 states nationwide. Over 60% of original investments have been $1,000 or less, with more than half of the investors being Connecticut residents.
Investments in the Green Liberty Notes offering support Eversource’s Small Business Energy Advantage (SBEA) program, which enables small businesses in Connecticut to lower their energy expenses through efficiency enhancements and interest-free loans. Due to the climate benefits associated with the SBEA program, Kestrel has reviewed and verified this Green Liberty offering for its environmental attributes.
Green Liberty Notes can be purchased at www.greenlbertynotes.com.The previous Green Liberty offering was the ninth consecutive offering to surpass its maximum raise amount, so investors are encouraged to act quickly to secure their participation in the next offering.
Previous investors can now track all active Green Liberty Notes investments through the Honeycomb platform, which provides a centralized location for investors to access. Reinvesting is streamlined through the Honeycomb wallet, allowing investors from the ninth round of Green Liberty Notes to reinvest both principal and interest into the latest offering.
Additionally, investors who participated in the ninth round and choose to invest in this offering—whether by reinvesting or contributing a different amount—will receive an interest rate “boost” as a token of appreciation for their ongoing support of the Green Liberty Notes.
For more information about this investment opportunity, please visit www.greenlibertynotes.com.
GreenGain Program Accepting Applications through February 25
/in NewsHARTFORD, Conn. – February 11, 2025 – GreenGain, a new pilot program geared towards smaller manufacturing companies in Connecticut, is continuing to accept applications to participate in the program now through February 25. The program is open to business owners, executives, and department heads in smaller manufacturing companies—no prior sustainability experience is required to apply.
Recently launched by the Connecticut Department of Economic and Community Development’s Office of Manufacturing in partnership with the Connecticut Sustainable Business Council (CTSBC) and the Connecticut Green Bank (Green Bank), GreenGain provides training, subject matter expertise, and matching funds to help smaller manufacturing companies in the state integrate energy efficiency, renewable energy, and other technologies and strategies into their operations. The program will support manufacturers in building more sustainable and resilient businesses, boosting economic growth, performance, and competitiveness.
“Connecticut’s smaller manufacturers are uniquely positioned to lead the way in sustainable innovation,” said Heather Burns, CEO, CT Sustainable Business Council. “GreenGain offers them the tools to navigate industry challenges while balancing sustainability goals, ensuring they remain competitive and resilient. We’re excited to work with the companies that have already committed to the program and hope to add more before we launch our monthly training sessions on February 26.”
One of the companies signed on to the program is Bristol-based medical device manufacturer Beekley Corporation. The company began its sustainability journey with its first EcoVadis submission in April 2024, which earned Beekley a Bronze Medal from the sustainability-rating organization and placed it in the Top 35% Globally for Corporate Social Responsibility (CSR) performance. Since then, Beekley has created a sustainability committee that has set corporate sustainability goals and policies. The company is leveraging GreenGain to build upon its solid sustainability foundation and expand initiatives with the program’s support and training.
“Beekley Corporation is excited to join Connecticut’s new GreenGain Program,” said Maureen O. Gallo, President, Beekley Corporation. “Our EcoVadis rating highlighted key opportunities and actionable insights, and we look forward to leveraging GreenGain’s support as we advance our sustainability journey. As a small business, it’s an invaluable opportunity to learn from industry experts and adopt impactful practices that drive positive change.”
GreenGain provides participants with monthly training sessions led by experts in sustainability and green manufacturing, as well as representatives from larger manufacturers with robust corporate sustainability programs. Upcoming sessions include:
February 26th, 9:30 AM
March 26th, 9:30 AM
April 30th, 9:30 AM
May 14th, 9:30 AM
In addition to the monthly training sessions, participating manufacturers can qualify to receive funding support to implement sustainability practices, perform energy audits, complete energy efficiency upgrades and renewable energy projects, install carbon accounting software, and more.
Through GreenGain’s voucher program, companies can apply for matching funds to finance related projects and initiatives.
GreenGain is funded through the Office of Manufacturing’s Manufacturing Innovation Fund (MIF) and is administered by the Green Bank through a partnership with CTSBC.
To learn more about GreenGain or to apply, visit ctsbcouncil.org/green-gain.
Due to High Demand, Connecticut’s Battery Storage Program Opens New Tranche of Commercial Incentives
/in NewsStrong commercial and industrial demand prompts shift in program capacity allocation; residential installations continue to grow, including in low- and moderate-income households.
HARTFORD, Conn. (January 20, 2025) – The Public Utilities Regulatory Authority (PURA) recently announced updates to the Energy Storage Solutions program, including the opening of Tranche 3 of the commercial and industrial (C&I) incentives as well as the reallocation of 140 megawatts (MW) of capacity from the residential sector to the C&I sector to match the growing demand for storage. This reallocation will help the program achieve its goals faster and at a lower overall cost while allowing more C&I property owners to benefit.
In the residential sector, the market has seen a steady increase in battery installations for homes across Connecticut, including nearly 100 approved projects for low- and moderate-income customers. Residential customers can still receive up to $16,000 in upfront incentives, with customers that qualify as low-income receiving $600 per kilowatt hour (kWh) and customers residing in underserved communities receiving $450 per kWh. These residential incentives can also qualify for a 50% adder if the customer is located on a grid circuit that experiences a greater frequency or duration of power outages than other customers. Incentives are designed to decrease over time as program capacity targets are achieved. The sooner families and businesses act to make their homes and buildings more resilient through onsite battery storage, the better.
Other approved changes to the Energy Storage Solutions program include but are not limited to:
All Energy Storage Solutions program changes were made as part of the Year Four Decision in Docket No. 24-08-05, released on December 4, 2024. The program is paid for by electric ratepayers, overseen by PURA, and administered by the Connecticut Green Bank, Eversource, and UI.
For more information on Energy Storage Solutions, visit energystorageCT.com.
Hitchcock Printing installs solar system to power their facility
/in Building Solutions, NewsNew Britain business will save more than $1.2 million in energy costs
Hartford, CT (January 16, 2025) – The Connecticut Green Bank is pleased to announce the closing of Commercial Property Assessed Clean Energy (C-PACE) financing for a solar photovoltaic system at Hitchcock Printing & Distribution Services, located at 191 John Downey Drive in New Britain. The system is estimated to save the business more than $1.2 million in avoided energy costs over the next 20 years. Founded in 1904 by Edwin Rogers Hitchcock, the company runs a modern 21,000 square foot facility with a highly skilled workforce and state-of-the-art equipment to provide printing, creative design, finishing, and mailing services.
“The addition of our solar system is a key to staying competitive now and in the future,” said Anthony Bracco, President of Hitchcock Printing. “State of the art equipment, and a highly trained youthful workforce accompanied with a plan to manage our energy costs will ensure that we have an edge in the years to come.”
The 227-kw system was developed and installed by Smart Roofs Solar Inc. in Monroe.
Since 2013, C-PACE financing has helped building owners complete more than 400 projects for estimated energy costs savings of nearly $420 million. C-PACE financing allows commercial property owners to install green energy upgrades today and pay for them over time, covering up to 100% of costs at low-interest rates with terms up to 25 years.
“We are seeing continued interest in C-PACE from energy-intensive businesses seeking ways to reduce their energy-cost burdens, especially through the addition of solar systems,” said Mackey Dykes, Vice President of Financing Programs at the Connecticut Green Bank. “It’s exciting when companies with long histories in their community, like Hitchcock Printing, take advantage of green technologies to enhance their bottom line.”
For more information about C-PACE, please visit ctgreenbank.com/cpace
Connecticut Green Bank’s Fiscal Year 2024 Annual Report Highlights Progress as Economic Catalyst Through Partnerships
/in Financing, innovation, jobs, NewsGreen Bank programs continue to create jobs and grow the green economy while helping thousands of families and businesses reduce their energy costs
Hartford, CT (Jan. 8, 2025) – The Connecticut Green Bank recently released its 13th annual report for fiscal year 2024, which showed continued leadership in the state’s green economy. Every public dollar invested by the Green Bank attracted $8.60 in private capital in FY2024, bringing its total contribution to nearly $3 billion since it was created through bipartisan legislation in 2011. This investment helps reduce the energy burden on more than 71,000 families and businesses across Connecticut. Additionally, this investment supports the creation of thousands of jobs and reduces greenhouse gas emissions and air pollution, which benefits public health.
“The Green Bank is proud to be a leading catalyst driving the green economy. Since our establishment, we have helped enable nearly $3 billion of investment in our state’s green economy, which has supported the creation of more than 29,000 jobs and contributed nearly $150 million in state tax revenues to Connecticut’s budget,” said Bryan Garcia, President and CEO of the Green Bank. “Since 2011, we have forged strong relationships with lending institutions, contractors, advocates, and community and labor organizations as a reliable, dependable leader in this space. We remain committed to sharing our data and stories through reports like this annual report and our extensive Annual Comprehensive Financial Report because we understand the value of partnerships and people working together to achieve our vision of a planet protected by the love of humanity.”
Some highlights of the fiscal year 2024 include:
To access the FY24 report, please visit https://www.ctgreenbank.com/strategy-impact/reporting-and-transparency/ or https://www.ctgreenbank.com/strategy-impact/reporting-and-transparency/connecticut-green-bank-annual-report-2024/.
Milford Holdings LLC closes on 1.1-megawatt solar project
/in Building Solutions, NewsWampus Lane project is estimated to generate $4 million in energy revenue for the ownership
Hartford, CT (Dec. 16, 2024) – The Connecticut Green Bank is pleased to announce that Milford Holdings LLC has recently closed on C-PACE financing for a 1.1-megawatt solar project at their property at 80 Wampus Lane in Milford. The tenants on-site include both industrial and manufacturing operations. The total gross installed costs are approximately $2.2 million and the estimated energy revenue for the ownership over the next 20 years will surpass $4 million. The project participated in Connecticut’s Non-residential Renewable Energy Solutions (NRES) program, through which the utility company will buy the produced electricity from the property owner.
“I’m pleased with our decision to utilize the C-PACE program to finance our Solar project at 80 Wampus Lane. The process was straightforward across the multiple partners involved. Additionally, the Green Bank worked efficiently to close C-PACE financing allowing us to begin saving energy,” said Ahron Rosengarten, the project manager working for the property ownership. “We want to give a big thanks Jodi French of KPT Renewables for being an indispensable resource to get this transaction closed and giving us expert guidance on every step of the process. Thanks to Evergreen Energy for developing the project, managing the NRES submission process as well as coordinating the installation.”
The system will generate approximately 1.1 million kWh annually which equals a carbon reduction of 785 metric tons, or the carbon offset of 1,025 acres of forest.
“I enjoyed the role of coordinating the efforts of multiple project partners in order to facilitate the critical element of successful project financing,” said Jodi French of KPT Renewables.
“It was a wonderful opportunity to develop and install this solar facility for Milford Holdings and take part in the NRES program,” said Jacob Sussman, Chief Operating Officer of Evergreen Energy. “We are extremely satisfied working with the Green Bank and appreciate Jodi’s guidance through the process.”
In Connecticut, the Commercial Property Assessed Clean Energy (C-PACE) program has surpassed 400 closed projects for more than $300 million in total investment. C-PACE is administered by the Green Bank and is specifically designed to finance green upgrades, including energy efficiency improvements, renewable energy sources, and projects to increase resilience.
“Commercial property owners’ interest in adding large solar systems to their roofs continues to remain strong in Connecticut,” said Mackey Dykes, Vice President of Financing Programs at the Green Bank. “C-PACE was designed to allow these projects to make financial sense in addition to the positive environmental impact.”
For more information about C-PACE, please visit ctgreenbank.com/cpace.
Connecticut Launches “GreenGain” Sustainability Program for Small Manufacturers
/in Building Solutions, NewsPilot program to provide energy efficiency and sustainability training, mentoring, and project funding support for small CT manufacturers
HARTFORD, Conn. (December 11, 2024) – The Connecticut Department of Economic and Community Development’s Office of Manufacturing, in partnership with the Connecticut Sustainable Business Council (CTSBC) and the Connecticut Green Bank (Green Bank), today announced the launch of GreenGain, a year-long pilot program designed to provide training, subject matter expertise, and financial resources to help smaller manufacturing companies in the state integrate energy efficiency, renewable energy, and other technologies and strategies into their operations. The program will support manufacturers in building more sustainable and resilient businesses, boosting economic growth, performance, and competitiveness.
GreenGain is funded through the Office of Manufacturing’s Manufacturing Innovation Fund (MIF) and will be administered by the Green Bank through a partnership with CTSBC.
Geared towards smaller manufacturing companies in Connecticut, GreenGain will provide participants with monthly training sessions led by experts in the areas of sustainability and green manufacturing as well as representatives from larger manufacturers that have robust corporate sustainability programs. Sessions will be focused on decarbonization, ESG reporting, green manufacturing practices, certifications like Ecovadis and additional sustainability topics. Participating manufacturers will also receive consulting support to implement sustainability practices, perform energy audits, complete energy efficiency upgrades and renewable energy projects, install carbon accounting software, and more.
Additionally, through GreenGain’s voucher program, companies will have the opportunity to apply for matching funds to finance related projects and initiatives.
“Sustainability is no longer just an option for businesses—it’s necessary to remain competitive in a rapidly changing business environment. GreenGain provides small manufacturers with a clear roadmap and much-needed resources and support to build more sustainable and resilient operations while meeting the growing expectations of customers and stakeholders. This program is an exciting step forward for Connecticut’s manufacturing sector and we’re excited about the positive impact,” said Heather Burns, CEO, CT Sustainable Business Council.
“One of the components of Connecticut’s Manufacturing Strategic plan is building resilient and sustainable companies,” said Paul Lavoie, Chief Manufacturing Officer for the State of Connecticut. “An essential part of that initiative is energy efficiency, and the GreenGain program is designed to increase engagement, education and enablement for the manufacturing sector to become more resilient and to help them compete in today’s global environment.”
“As energy intensive businesses, Connecticut manufacturers have always known and navigated the impact of energy costs. Now, they face increasing pressure from their customers and stakeholders to integrate sustainability and resiliency into their operations while demonstrating a commitment to ESG goals,” said Connecticut Green Bank Vice President of Financing Programs Mackey Dykes. “However, many of the smaller manufacturers don’t have the time, resources, or funding to explore improvement projects, such as energy efficiency or renewable energy, and make progress towards new goals. This is where GreenGain comes in, and we are proud to partner with the Office of Manufacturing and the Connecticut Sustainable Business Council to bring the program to life. Connecticut’s vital manufacturing sector is a critical component to our state’s overall economy, and GreenGain will help companies save money, save energy, reduce their carbon footprints, and increase their competitiveness.”
West Hartford-based Legrand, North America, is a leading global specialist in electrical and digital building infrastructures. They are one of GreenGain’s partner companies that will provide expert training and mentorship to program participants. Over the last three years, Legrand has earned a Platinum rating from EcoVadis, putting them in the top 1% of over 130,000 evaluated companies based on performance across Environment, Ethics, Social and Human Rights, and Responsible Purchasing.
“Sustainability and corporate responsibility are at the heart of Legrand’s operations. As a global company, achieving aggressive targets for renewable energy procurement, energy use reductions, and energy efficiency requires close collaboration with suppliers and our teams across all of sites,” says Michael Kijak, Legrand Director of Operational Excellence. “We also attribute our continuing success to many great state and federal programs available – including the DOE’s Better Plants Challenge and the EPA’s Smart Way program. We are very open about sharing our processes and best practices within our industry and look forward to sharing our knowledge and expertise with smaller manufacturers that will be participating in the GreenGain program.”
GreenGain builds off the successful “Energy on the Line” grant program that was funded by MIF and administered by the Green Bank. Between 2016 and 2023, Energy on the Line helped 30 manufacturers across the state complete 25 solar PV projects and seven energy efficiency projects while providing access to C-PACE financing to support project implementation and equipment installation. The program delivered significant energy and cost savings to participating companies—collectively, more than 405 million BTU in energy savings and $25 million in electric cost savings over the effective useful life of the equipment.
For more information on GreenGain or to apply for the program, visit ctsbcouncil.org/green-gain.
Electric School Bus Deployment RFP Announced
/in Community Solutions, Investment Solutions, NewsDecember 9, 2024 – The Connecticut Green Bank is pleased to announce a Request for Proposals (RFP). This RFP makes available Green Bank low-interest financing resources and state matching grant funds administered by the CT Department of Energy and Environmental Protection (CT DEEP) for electric school bus (ESB) projects in Connecticut. Recipients of previously awarded federal and state ESB grant funds are highly encouraged to apply.
Capital provided through the RFP process may be used to cover costs associated with:
• Bus procurement,
• Electric vehicle charging hardware procurement and installation, and
• Charging depot site upgrades and make-ready infrastructure investments.
The Green Bank and CT DEEP will also consider proposals to deploy ESBs at sites not currently contemplated by either federal or state grant awards.
Priority will be given to projects planned or proposed in Connecticut Distressed Municipalities and Federal Low-Income and Disadvantaged Communities. More information on these communities is provided in the RFP Appendix.
The Green Bank and CT DEEP will host a bidders’ conference on Monday, December 16 at 1:00 pm ET. Please register here to participate.
Connecticut Green Bank Seeks Proposals to Construct Solar Projects at Affordable Multifamily Housing Sites
/in Building Solutions, Community Solutions, NewsHARTFORD, Conn. (Dec. 2, 2024) – The Green Bank recently released a Request for Proposals (RFP) seeking qualified contractors or entities to provide engineering, procurement, and construction (EPC) services for solar photovoltaic (PV) projects at Affordable Multifamily Housing (AMFH) sites. Through this RFP, the Green Bank seeks to procure EPC services to install 2 megawatts (MW) of solar on nine AMFH sites in Connecticut working with the Green Bank’s Solar Marketplace Assistance Program (Solar MAP).
The Green Bank is working with AMFH site owners through Solar MAP to facilitate solar PV deployment at nine sites located in Cheshire, Hamden, Storrs, Tolland, New Haven, and West Hartford to install seven rooftop and two hybrid carport projects for a total portfolio of 2 MWdc. The Green Bank commissioned evaluations of each Site and provides detailed exhibits for each proposed project through this Request.
This solicitation also requests secondary project pricing that incorporates the requirements associated with the use of federal Greenhouse Gas Reduction Funds (GGRF), such as the Build America, Buy America Act and Davis-Bacon and Related Acts. Federal compliance requirements are further explained in the solicitation. This secondary pricing is optional, but Green Bank strongly encourages submissions as this is a priority funding area.
The solicitation offers site visits on Dec. 9 and 10th and an informational webinar on federal compliance requirements on Dec. 13 for federal compliance requirements. Submissions are due on Jan. 13, 2025.
The RFP and registration links can be found at https://www.ctgreenbank.com/about-us/rfps/.