The ReCover Initiative and Efficiency Capital Partner to Accelerate Deep Retrofits Across Atlantic Canada
April 22, 2026
New partnership delivers a turnkey, off-balance sheet funding option for building owners to modernize infrastructure and reduce carbon emissions
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.
About the ReCover Initiative
The ReCover Initiative (ReCover) is Atlantic Canada’s deep retrofit accelerator, advancing scalable, whole-building transformation solutions. Our ecosystem-building approach integrates applied research, advocacy for systemic change, workforce capacity building, and direct support for building owners. Our flagship Building Transformation Program guides building owners from early concepts to implementation, delivering tailored, investment-ready business cases grounded in technical and financial feasibility. We focus on ensuring that the economic, environmental, and social benefits of deep retrofits are broadly shared. Learn more at www.recoverinitiative.ca.
About Efficiency Capital
Efficiency Capital (EC) is a building-scale Infrastructure-as-a-Service platform, founded in Canada, that originates, designs, finances, builds, owns, and operates its own infrastructure projects in client buildings. Incubated by The Atmospheric Fund (TAF), EC brings dedicated institutional capital and specialized capability into buildings so owners can achieve their financial, climate, and social goals. EC delivers Energy-as-a-Service, Net-Zero-as-a-Service, and Accessibility-as-a-Service solutions, leveraging strategic partnerships with institutional banks, impact investors, and community foundations to deliver turnkey, balance-sheet-unencumbered solutions. For more information, visit www.efficiencycap.com.
