Plastonics Closes on C-PACE Financing for Solar, Efficiency Project

Energy savings will surpass $775,000 for the Hartford powder coating business

 

Rocky Hill, CT (April 19, 2018) – The Connecticut Green Bank announces that Plastonics, located at 230 Locust Street, Hartford, has closed on Commercial Property Assessed Clean Energy (C-PACE) financing for the installation of a 99.7 kW solar photovoltaic (PV) system and energy efficiency upgrades to their lighting, HVAC system and roof insulation. Projected savings over the effective useful life of the upgrades is expected to surpass $775,000.

Established in 1959, Plastonics, Inc. was a pioneer in the powder coating business and continues to remain an innovator in the industry. They have developed specialized equipment for many unique applications, and automated equipment is used when possible to provide cost-effective operations. Plastonics applies coatings for automotive, medical, aerospace, military, marine, electronics and building hardware markets as well as consumer applications.

In addition to C-PACE financing, the project utility incentives and an Energy on the Line grant, an initiative funded through the Connecticut Department of Economic and Community Development’s Manufacturing Innovation Fund.

Design with Nature LLC in Avon, CT, provided technical assistance on the energy efficiency improvements, and the solar PV system was installed by All Green It, a solar photovoltaic contractor firm headquartered in Bristol, CT. The system is projected to produce 116,000 kWh per year.

“This was a perfect time to proceed with this project,” said Bob Zimmerli Jr., President of Plastonics. “The federal and state rebates were available, the solar panels will hopefully save us money for many years to come, and the LED lighting will make our work space brighter and better for our employees.”

“Using C-PACE financing, manufactures can lower energy costs, run more efficiently, have a greener footprint in the environment, and improve condition for their employees,” said Mackey Dykes, Vice President of Commercial, Industrial, and Institutional Programs at the Green Bank. “Energy efficiency measures and solar will help Plastonics, like many other Connecticut manufacturers that have used C-PACE, remain strong.”

For more information about Plastonics, visit www.plastonics.com. For information on C-PACE, visit www.cpace.com.

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