HCi3 Makes First Impact Investment

HCi3 has concluded its first impact investment with a $500,000 loan to the ReCover Initiative in support of its Atlantic Canada Deep Retrofit Accelerator.

The Deep Retrofit Accelerator Initiative (DRAI), running from 2024-2027, is dedicated to accelerating the adoption of deep energy retrofits across Atlantic Canada, focusing on commercial, institutional, and multi-unit residential buildings, as well as housing in Indigenous communities. This multi-partner program, led by the ReCover Initiative, will involve publishing a strategic roadmap for the deep retrofit industry, providing services and support to property owners and developers, and building industry capacity. Learn more about ReCover’s work here.

HCi3’s investment will provide the Recover Initiative with working capital to execute DRAI and leverage a $16.5 million award from Natural Resources Canada and additional support from other philanthropic funders. You can read more about HCi3’s impact investing program here.