The ReCover Initiative and Efficiency Capital Partner to Accelerate Deep Retrofits Across Atlantic Canada

April 20, 2026

Building owners in Atlantic Canada now have a streamlined, fully supported pathway to modernize aging infrastructure, improve energy efficiency, and reduce carbon emissions.

The ReCover Initiative (ReCover) and Efficiency Capital have announced a strategic partnership to accelerate deep retrofits and net-zero retrofits for commercial, institutional and multi-unit residential building owners across Atlantic Canada.

The collaboration combines local building owner engagement and project readiness support from ReCover with Efficiency Capital’s Infrastructure-as-a-Service model, which delivers turnkey infrastructure upgrades without requiring upfront capital or new debt from building owners.

“Our offerings are highly complementary,” says Brittany Davison, Interim Executive Director of the ReCover Initiative. “We develop business cases and provide funding for feasibility studies through our Building Transformation Program, while Efficiency Capital acts as the long-term delivery partner, investing its own capital to develop, own, and operate the infrastructure upgrades. This ensures building owners can move forward with confidence, backed by measurable financial and environmental outcomes.”

“Efficiency Capital’s finance-led model is designed to help owners achieve financial, climate, and social outcomes without tying up capital or impacting their balance sheet,” says Chandra Ramadurai, CEO of Efficiency Capital. “We develop, own, and operate the infrastructure in their buildings, delivering performance as a service. Partnering with the ReCover Initiative allows us to bring dedicated institutional capital and turnkey execution to Atlantic Canada, removing traditional barriers to low-carbon investment.”

The partnership is designed to accelerate infrastructure renewal in alignment with regional climate targets. The existing building stock in Atlantic Canada represents a significant share of greenhouse gas emissions, making building modernization a critical lever in achieving net-zero goals by 2050 while improving comfort, reliability and long-term asset performance.

Through the partnership, the ReCover Initiative will serve as a trusted advisor to building owners, helping them navigate early-stage planning and prepare for project execution.

“We’re focused on removing barriers at the start of the process,” said Lorrie Rand, Senior Advisor and Co-Founder at the ReCover Initiative. “By supporting project readiness and connecting owners to a proven delivery model, we can help accelerate adoption of deep retrofit solutions across the region.”

Efficiency Capital will lead project development, financing, implementation and long-term operation of infrastructure upgrades, delivering performance through long-term service agreements.

Building owners and industry partners can learn more or assess project eligibility by contacting Erin Ellis at erin.ellis@efficiencycap.com.

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