RE Royalties Provides $3 Million Financing Facility to FuseForward
All amounts in Canadian dollars unless otherwise stated
RE Royalties Provides $3 Million Financing Facility to FuseForward for Smart Infrastructure Solutions
December 15, 2021, Vancouver, BC – RE Royalties Ltd. (TSX.V: RE) (“RE Royalties” or the “Company”), a global leader in renewable energy royalty-based financing, has entered into an agreement to provide financing to FuseForward Solutions Group Ltd. (“FuseForward”), a Vancouver based technology company that provides smart infrastructure and digital transformation solutions to utilities, real estate, health care and government industries. FuseForward’s smart infrastructure solutions allow their clients to improve operational efficiencies and reduce energy consumption, waste, and water use.
RE Royalties has provided a $2 million secured loan for three years with an 8% interest rate, (the “Loan”); and acquired a royalty for $1 million (the “Royalty”) from FuseForward (together the “Financing Facility”). The Royalty will provide RE Royalties with a fixed annual royalty payment of $284,000 for 10 years.
The Financing Facility will enable FuseForward to fund its growth into the smart infrastructure sector, enabling FuseForward to expand its product offerings, in particular their Smart Cities and Campus Initiative. This initiative will allow educational institutions and municipalities to use advanced network infrastructure, internet-connected devices, and digital twins to build operational efficiencies and improvements into their sustainability programs, reduce cost by streamlining processes and automation, and improve the management and security of data.
Bernard Tan, CEO of RE Royalties, commented, “This transaction offers RE Royalties an opportunity to move into the smart infrastructure space, a key component of the low carbon energy transition, and critical next horizon for advanced energy efficiency and increased integration of distributed renewable energy resources. Buildings contribute over 13% of Canada’s annual greenhouse gas emissions and we are excited to partner with the FuseForward team in bringing forward market solutions to help reduce emissions.”
Mark Damm, CEO of FuseForward, commented, “RE Royalties provides us with a unique, flexible and non-dilutive financing solution to help grow our business and expand our smart infrastructure product offering for our customers. This partnership with RE Royalties will allow our customers to generate meaningful solutions to achieve their sustainability objectives.”
On Behalf of the Board of Directors,
FuseForward Solutions Group (“FuseForward”) is a cloud-based, industrial Solution-as-a-Service company based in Vancouver, offering global soft infrastructure and digital transformation solutions to key industries such as utilities, real estate, education, and healthcare.
About RE Royalties Ltd.
RE Royalties Ltd. acquires revenue-based royalties from renewable energy generation facilities by providing a non-dilutive financing solution to privately held and publicly traded renewable energy generation and development companies. RE Royalties is the first to apply this proven business model to the renewable energy sector. The Company currently owns 98 royalties on solar, wind, storage and hydro projects in Canada, Europe, and the United States. The Company’s business objectives are to provide shareholders with a strong growing yield, robust capital protection, high rate of growth through re-investment and a sustainable investment focus.
For further information, please contact:
Renmark Financial Communications Inc.
Daniel Gordon: firstname.lastname@example.org
Tel: (416) 644-2020 or (212) 812-7680
RE Royalties Ltd. Talia Beckett: email@example.com Tel: (778) 374‐2000 www.reroyalties.com
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Forward Looking Statements
This news release includes forward-looking information and forward-looking statements (collectively, "forward-looking information") with respect to the Company and within the meaning of Canadian securities laws. Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. This information represents predictions and actual events or results may differ materially. Forward-looking information may relate to the Company’s future outlook and anticipated events or results and may include statements regarding the Company’s financial results, future financial position, expected growth of cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth opportunities including financing. The reader is referred to the Company’s most recent filings on SEDAR for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company’s profile page at www.sedar.com.