Octus Energy And Five Star Bank Announce Energy Efficiency Project Financing Program

Aug. 12, 2010 - PRLog -- Octus, Inc. (OTCBB- OCTI.OB), a leading smart energy efficiency company, today announced it has partnered with Five Star Bank to provide energy efficiency project financing for commercial and industrial building owners. The Octus/Five Star Bank Smart Energy Financing Program enables property owners to significantly reduce their energy expenses with little to no upfront costs.

“Increasingly, commercial building owners are taking advantage of energy efficiency technologies to enhance their net operating income and asset values, differentiate their real estate portfolios, boost occupancy, and command greater lease rates,” said Octus CEO Chris Soderquist. “Five Star Bank was founded by Northern California business and commercial real estate leaders who understand the critical value of these types of measures in managing their businesses and assets. The Smart Energy financing program will make the benefits of energy efficiency measures for commercial building owners immediately accessible.”

“The paramount challenge with implementing energy-savings measures has been the availability of capital to finance investment-prudent building improvements,” said Five Star Bank President and CEO James Beckwith. “Through the Octus/Five Star Bank Smart Energy Financing Program, property owners can use the energy savings generated through facility improvements to cover energy efficiency project expenses.”

The Octus/Five Star Bank Smart Energy Financing Program targets projects ranging from $25,000 to $500,000, with simple payback periods of less than four years. In most cases, incentives and rebates from utility companies for energy-savings measures will serve as the down payment for the non-collateralized financing. Octus and Five Star Bank are collaboratively marketing the program, and Octus is responsible for all phases of energy efficiency project development.

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Octus, Inc. (OTCBB- OCTI.OB) is a smart energy efficiency company headquartered in Davis, California that significantly reduces the energy costs of commercial and institutional buildings through energy-efficient lighting, HVAC and energy management systems. Octus monetizes the energy savings it creates through three business units: Smart Energy Technologies, Energy Project Development and the Octus Smart Energy Platform. Octus’s energy project development division, Quantum Energy Solutions, has completed more than 1,500 smart energy projects for 300-plus clients including ARCO, Bank of America, Blockbuster, Chevron, Delta Airlines, Frito Lay, Hewlett-Packard, Home Depot, Ikea, Nabisco, Pepsi, Petco, Safeway, Sears, Siemens, and University of California.