Please Read Our Disclaimer
Location: Richmond, BC
Sector: Clean Tech.
Connect Thermal Energy Solutions Inc. (“Connect TES “) acquires, owns, and operates thermal energy infrastructure in multi-use and residential developments.
Our mission is to maximize the utilization of available onsite energy through the use of technology and effective energy management protocols, with the goal of reducing external input energy requirements for the HVAC and DHW systems of large buildings.
As our name suggests, we strive to connect different energy sources and technologies, with the goal of consistently improving each building system’s energy efficiency and sustainability.
Long Term Stable return
- The investment will be raised within the Connect TES (Parent Company) which will own each of the individual Energy companies. These Energy companies will remain their own entity to ensure separation for liability purposes.
- Each energy system will have a long term contract ranging from 35-60 years in length (Life of the building).
- The Energy contracts will be made with the Strata Corporation or Building Owners (who have a strong reputation and record).
- 7% Dividend paid on a quarterly basis with 10 year term. Potential for buyback at 5 years with 5% bonus.
Approved by Lender
- We have achieved 80% financing from a large institutional Canadian Bank.
- The 80% purchase financing has been included within each individual project cashflow. Each project looks to maintain a minimum 1.45 Debt Coverage Ratio. Profits from each project will flow up to the Connect TES to pay the Preferred share payments.
- As each system is held separately, if there is an issue with a building the balance of our buildings will ensure cashflow is available to maintain profitability levels and debt payments.
1. Partnerships with Developers to create a long standing relationship and repeat business
Offering a developer a share in the ownership of the HVAC systems, once it is operating, is our marketing and loyalty program. When a developer learns that we are willing to share the profits of the asset that we are purchasing, two things occur:
• Developers give us first right of refusal on upcoming projects, accelerating our growth and adding repeat business stability to the portfolio.
• Our actions are very different from others in the industry, which reflect on how we manage and how transparent we are as a company. We treat the developer as a partner from the beginning of the relationship. We share more information than we would share in a simple asset purchase transaction and provide upfront design and project management support to the development.
2. Strong relationships
Connect TES has strong relationships with many of the large developers in the Greater Vancouver area and are leveraging these relationships to target opportunities that support our business model. Our model mandates that we only accept projects that provide low risk, stable, long-term returns with the ability to effectively manage and optimize the systems on a long-term basis.
3. Experience, expertise, transparency, and actioned corporate values
We bring over 100 years of combined experience and in-depth expertise to bear in our relationships with developers. We believe if we can help solve an issue, we should; not because of a financial benefit but because it is the right thing to do. We treat our potential clients and client partners the way we want to be treated, with openness, transparency and integrity.
4. Integrated Software System
This system will allow us to work with any type of mechanical control system used by Developers and Building Owners. This ensures we are able to bring our tools and experience to any type of system to help improve energy efficiency.
Dana Westermark, Co-founder, President
Dana has been involved in the construction, development and management of residential real estate for over 35 years. He is affiliated with the Project Management Institute, the Urban Development Institute (“UDI”) and UDI’s liaison committee. Dana served for 8 years on the Richmond Heritage Commission, and for 6 years on the Design Panel for the City of Richmond, five years as Chair.
He has developed numerous multi-family residential projects throughout the Lower Mainland area of British Columbia and has completed the award winning London Landing development and the Remy development, both in Richmond, BC.
Dana became involved in the Renewable energy industry with his first geothermal development for a client on a single family house in early 2000’s. Since then he has made it a major part of all developments he completes, spending the last 15 years refining the program to create his vision of Connect TES in 2016.
Nathan Curran, Finance
Nathan is responsible for managing all financial and accounting aspects for Connect Thermal Energy Solutions Inc. He is accountable for sourcing financing, due diligence required for financings, as well as managing compliance with all terms and conditions of any loans to the company. Nathan is also responsible to ensure that project modeling meets internal and external thresholds.
Since Graduating UBC in 2007, Nathan has worked for Oris Consulting for the past 11 years. His main role has been to provide financial analysis and secure financing for Oris’ multi-year, multi-faceted projects, which has been pivotal to Oris’ growth and development success.
Andrew Illingworth, General Manager
Andrew is an energy manager and entrepreneur with over 40 years of experience. He has a significant background in mechanical engineering design and HVAC systems management. He has worked with innovative technologies throughout his career and excels in identifying and growing unique opportunities in the energy sustainability sector.
Andrew has held senior management roles for the last 30 years in several companies. He served as Vice-President at Watermark Construction, focusing on heating and cooling systems in the industrial context. He was the Chief Operating Officer of GEOtivity Inc.
At Connect TES, he is responsible for managing the growth, implementation, and operations of all in-building utility infrastructure.
Indra Maharaj, General Counsel, Corporate Secretary
Indra is responsible for managing all corporate administration and corporate legal work for the company. She is also responsible for supporting the legal aspects of financings, communications with external counsel, preparation of regulatory filings, management of compliance filings, and contract preparation and management.
Indra has practiced law in the energy, power, and environmental sustainability industries for the most recent 16 years of her career, serving as primarily as corporate counsel or Alberta Utilities Commission counsel. Prior to that time, Indra’s private practice focused on litigation matters and alternative dispute resolution.