A Locke Lord team led by Michael Malfettone (New York) advised Kelvin, a national leader in intelligent HVAC solutions, to form an exclusive partnership with ClearGen LLC, a provider of capital for innovative energy solutions. The partnership leverages Kelvin’s innovative HVAC technology, backed by ClearGen’s investment to finance up to $100 million of affordable energy efficiency and comfort improvements for legacy multifamily buildings and campus properties. Formerly known as Radiator Labs, Kelvin’s innovative product, The Cozy™, an insulated radiator cover that distributes heat with maximum efficiency to prevent overheating and waste in legacy buildings, stands at the forefront of the partnership. Through the venture, ClearGen and Kelvin aim to provide a feasible path forward for older multifamily buildings seeking retrofit solutions without undertaking disruptive and expensive changes to infrastructure by offering a fully financed solution, benefitting both building owners and residents. For more information, see the press release. Additional assistance was provided by Buddy Sanders, Walter Keneally, Andrew Nelson (all of Houston), Mark Backofen (Dallas) and Will Barnard (New York).
Posted on April 19, 2024