Green energy financing company “PACE Atlantic CIC” Rebrands as “SwitchPACE CIC” to accelerate carbon reductions nationally
[Halifax, October 16th, 2023] – PACE Atlantic Community Interest Corporation, an innovative brand in the green energy financing sector, proudly announces its strategic rebranding as SwitchPACE CIC. This move comes as part of the company’s ambitious growth strategy, aimed at expanding its services across Canada, transcending its initial focus on the Atlantic provinces.
Under the name “PACE Atlantic CIC”, the social enterprise company has become the fastest growing 3rd party administrator of PACE programming in Canadian history. SwitchPACE CIC has demonstrated Canadian leadership in the energy efficiency financing space, retrofitting 2-5% of housing stock annually in every program it delivers. Julian Boyle, President of SwitchPACE CIC said “A lot of communities across Canada are looking to replicate the success of PACE programs we have developed and executed over the last 10+ years here in the Maritimes. They provide a sustainable local financing pathway to scale up carbon reduction in Canada. We are working with municipalities and community partners across Canada and will be making announcements soon on these. Switching PACE on carbon reductions is critical this decade.”
The new name SwitchPACE CIC captures the essence of the mission to enable Canadian homeowners to transition or “switch” to sustainable energy solutions. Inspired by the successful Switch Programs launched throughout the Maritimes, the rebranding represents the pivotal moment when homeowners choose to embrace energy efficiency and renewable energy, contributing to an eco-friendlier future.
For media inquiries, please contact:
Julian Boyle, P. Eng., President
About SwitchPACE CIC…
SwitchPACE is a community interest corporation (CIC) with a mandate to reduce carbon through energy efficiency programming in partnership with municipalities. CIC’s are a unique corporation structure in Canada, with only British Columbia and Nova Scotia having enabled these forms of quasi-for-profit social enterprises. Nova Scotia passed CIC enabling legislation in 2016. As a CIC, SwitchPACE must operate for a public benefit, re-invest 60% of any dividends within the community and report annually to the Province of Nova Scotia on its activity.
SwitchPACE CIC (www.switchpace.org), based in Halifax, are the leaders of PACE programming in Canada. SwitchPACE CIC has active programs in Nova Scotia and Prince Edward Island and have been recognized nationally for transforming the carbon reduction marketplace through sustainable financing and programming partnerships with municipalities. In the last year over 1,000 homes have been retrofitted with solar, heat pumps, EV chargers, insulation and other carbon reduction technologies saving residents over $1.5M annually. In the last 14 months, over 330 jobs have been created in programming while reducing 4 million kg of CO2 reductions.