Low-emission microturbine systems producer Capstone Turbine partnered with advisory firm Acresis to put together a potentially $100 million dollar product financing program for Capstone qualified distribution partners to provide working and growth capital.

RSP Systems, Capstone’s distributor in the greater New York area and Connecticut, with support from Acresis, secured an initial $3 million credit facility based on current sales of Capstone products to quality end use New York area customers.

“Working with RSP Systems on securing this $3 million product financing facility was a pleasure. We look forward to partnering with Capstone to roll out this financing program to all qualified Capstone distributors. It is an excellent opportunity for the distributors to grow their revenue and expand their business with Capstone,” said Michael Edwards, Acresis’ operating partner.

RSP Systems was selected by Capstone as the pilot distributor for this new product-financing program with Acresis as it is in one of the largest and fastest growing combined heat and power (CHP) markets in the world with solid energy efficiency incentives, low cost natural gas and high electric utility rates.

“The CHP market in New York continues to expand from hotels and hospitals to industrial customers and mixed use properties,” said Cory Glick, president and co-founder of RSP Systems. “This new financing program is critical as we continue to expand and grow our Capstone business from historic levels.”

Capstone, as part of its new focus on the energy efficiency or CHP market, has commenced several initiatives to help spur the growth of this market that is now more than 60% of the company’s business. Capstone recently announced a new Signature Series product line with integrated heat recovery modules and a partnership with Sky Solar (Sky Group) for $50 million in additional project capital (and an option for up to $100 million) for the second phase of Capstone Energy Finance Joint Venture (CEF), which was launched last December and currently has a pipeline of $25 million in well-qualified projects.

“Acresis has successfully developed a solution that I believe will afford several of our distributors access to low cost growth capital based upon Capstone products and solid credit ratings of our valued end use customers,” said Darren Jamison, president and CEO of Capstone. “This is not only good for our distribution partners but it is also an opportunity to meaningfully improve Capstone’s cash cycle.”