ENERGY RETROFITS PROVIDE
A BRIGHTER FUTURE FOR OUR
ECONOMY & ENVIRONMENT
Building retrofits may not be top of mind when thinking about clean energy. However an energy-efficient retrofit, especially of a large commercial building, can have a substantial impact on energy usage, and further, on greenhouse gas emission reductions in the community. Instead of producing clean energy, the strategy is to reduce the amount of fossil fuel consumed by the property.
Naveco Power realized that this is a big opportunity for communities to invest locally and make a huge difference.
82 WESTMORLAND STREET RETROFIT
Our first project is the retrofit of the 65,000 square foot office building at the corner of Westmorland and Queen Street in Fredericton. It houses Service New Brunswick, The Federal Court of Canada, The Maritime's Higher Education Commission, Interactive Computer Systems, and Naveco Power. During the retrofit, we will introduce several energy-efficient measures such as:
Cooling & Ventilation Systems
Heating & Hot Water Systems
Smart Building Management and Control Systems
The retrofit is expected to take approximately six months and will cost about $860,000. It will reduce the energy consumption by 1/3 and curb greenhouse gas emissions by 30% (175 tonnes.) The building will be built to LEED Gold Existing Building (EB & OM) standards and will be the first of it’s kind in New Brunswick, and only the second of its kind in Atlantic Canada.
So why would you invest in a retrofit of a building you don’t even own? Good question. Someone else’s problem, right?
Answer: It’s an investment.
Through our investment tools, such as the Small Business Investor Tax Credit (SBITC,) you as an investor choose how much you want to invest, are eligible for a 50% tax credit on your investment, and depending on which share class you purchase, bi-annual dividends over a four-year period.
Currently, the investment is only open to Accredited Investors in New Brunswick who meet the following criteria:
- All accredited investors must be at least 19 years of age
- Min/Max Investment (Individuals): $1,000 - $250,000
- Min/Max Investment: $50,000 – $500,000