Westborough, MA

August 24, 2023

The U.S. Department of Energy (DOE) has competitively awarded a new, multi-year contract to NORESCO to provide Energy Savings Performance Contracts (ESPCs) to improve the efficiency and sustainability of federal agency facilities, across all states and international locations. As a top-ranked energy service company (ESCO), NORESCO has provided ESPC services with guaranteed energy savings to the DOE, Department of Defense and other government agencies since the inception of the ESPC program 25 years ago. NORESCO is part of Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions.

Energy and water infrastructure projects financed through DOE’s ESPC indefinite-delivery, indefinite-quantity (IDIQ) contract offer guaranteed cost savings for federal sites. The contract with NORESCO has a ceiling of $5 billion, inclusive of the five-year base and five-year option ordering periods. Projects financed this way require no upfront government funding and are designed to pay for themselves over time.

“It’s an honor for NORESCO to continue supporting the federal government’s energy efficiency, resiliency, electrification and decarbonization initiatives,” said Doug Sattler, Senior Vice President, Federal, NORESCO. “This new award enables NORESCO to develop public private partnerships that provide significant infrastructure improvements through guaranteed energy and water savings without the need for additional taxpayer funds. We are committed to our long-standing relationship with the DOE and look forward to helping federal agencies meet the requirements of the Energy Act of 2020, Executive Order 14057 and the Climate Smart Buildings Initiative.”

NORESCO’s delivery of projects through this IDIQ contract supports Carrier’s 2030 Environmental, Social & Governance (ESG) goals to help reduce its customers’ carbon footprint by more than 1 gigaton.

For more information about NORESCO services, visit www.noresco.com.

About NORESCO

NORESCO, a part of Carrier Global Corporation, helps customers modernize aging building systems and upgrade energy and water infrastructure to meet evolving demands. We implement innovative energy efficiency, distributed generation, energy storage, and renewable energy solutions that optimize the operational efficiency and improve resilience of buildings, campuses, military installations, and communities. To date, NORESCO has implemented solutions that provide more than $5 billion in guaranteed energy and operating cost savings at more than 10,000 facilities, while reducing customer CO₂ emissions by more than 25 million metric tons – the equivalent of planting 1.4 million acres of forest. For more information, visit www.noresco.com