In July 2017, the University of New Hampshire (UNH) Foundation invested $3.06 million investment into the Community Loan Fund. This was the UNH Foundation’s first impact investment, and its first investment directly into a New Hampshire organization or business. This total investment was one of the largest investments ever in the Community Loan Fund, and the UNH Foundation has since grown that commitment to $4.3 million. The Foundation’s Treasurer, Erik Gross, said the convergence of several factors made it happen. UNH has a proud history in the field of sustainability, which includes its Sustainability Institute, several related majors, renowned work on climate research, a student-led trash-to-treasure program, and a University-wide commitment to earn the Platinum-level STARS (Sustainability Tracking, Assessment & Rating System) rating achieved later in 2017. At the same time, students encouraged UNH to divest its investments from fossil fuel companies and one student suggested making an investment in the New Hampshire Community Loan Fund. The Foundation’s investment advisor analyzed the Community Loan Fund and approved it as an impact investment, not only for UNH, but for many of its clients. “It’s a natural fit,” says Erik. “New Hampshire is part and parcel of what UNH is,” he says. “The fact that (the investment) fits within our portfolio as a prudent investment is very important, but after that, it’s a great way to be able to help the people of New Hampshire.”
Case Study
The university is working with energy storage firm Stem, Inc. to implement the company’s software-driven energy storage service to drive down energy costs across the university. “CSU Dominguez Hills is another example of a higher education leader who seeks Stem’s automated energy savings while also contributing to more intelligent grid solutions,” said John Carrington, CEO of Stem. “California’s universities and colleges want energy storage to help them control their energy choices, play a strong role in their community, and help transition the state to even higher amounts of renewable energy.”
Links to relevant articles:
Case Study
Clemson University has deployed a distributed energy storage system in an effort to reduce energy costs and to provide engineering students an opportunity to practice measuring and tracking energy savings. “Our distributed energy storage system is a natural extension of our core businesses in the buildings and battery markets and partnering with Clemson University allows us to help deliver the kind of smart and integrated energy management that will keep students and faculty comfortable while driving down utility costs,” said John Schaaf, vice president of distributed energy storage at Johnson Controls, in a prepared statement.
Links to relevant articles:
Case Study
“Hannon Armstrong joins ENGIE and Meridiam in the “Hawkeye Energy Collaborative,” which was awarded a $1 billion 50-year utility management concession contract in December 2019 and reached financial close on March 10, 2020. Hawkeye Energy Collaborative will support the University of Iowa’s energy, water, and sustainability goals for two campuses spanning 1,700 acres in Iowa City, Iowa. Under the agreement, ENGIE will operate, maintain, optimize, and improve the on-campus utility systems for the University. The scope includes providing heating, cooling, and electricity to the campuses through a dedicated network while also managing high-quality water, sanitary sewer and storm sewer services. Notably, the P3 will help the University of Iowa meet its zero-carbon energy transition objectives, becoming coal-free in energy production on campus by January 1, 2025, if not sooner.”
Links to relevant articles:
Case Study
Local universities leveraging their faculty and staff to help spur expansion of critical local businesses and industries makes those businesses and industries more investable – and Maine lobster is a perfect example. Ready Seafood developed a lobster processing plant, creating a surge in local economic development and business expansion. With funding from the Maine Technology Institute, Ready Seafood, in collaboration with the University of Maine and St. Joseph’s College will study lobsters and the sustainability of the lobster industry in Maine by exploring ways to improve lobster quality, shipability and yield.
Links to relevant articles:
Case Study
Livable City Year program is a partnership between cities in Washington state and UW’s faculty and students from various disciplines to strategize solutions to the specific community’s needs. Since 2016, this university program has produced numerous projects for the cities of Auburn, Tacoma, and Bellevue including enhancing Startup 425, a program that provides value-adding services to local startups and neighborhood planning projects.
Links to relevant articles:
Case Study
In 2004, La Salle University’s Office of Community and Economic Development worked with leadership and community members to craft a realistic plan to improve the quality of life for residents around the campus. The University’s findings led them to The Reinvestment Fund (TRF), a Philadelphia-based CDFI and leader in the financing of neighborhood revitalization, affordable housing, community facilities, supermarkets, and commercial real estate. With the support of TRF, La Salle University began to develop a redevelopment strategy for its investment in the adjacent neighborhoods. The keystone of the plan was a 80,000 square foot retail center, The Shoppes at La Salle, located adjacent to the campus. The Shoppes at La Salle was anchored by a 50,000 SF Fresh Grocer, the first full-service supermarket built in the area in over 40 years. TRF facilitated $14 million in financing for the supermarket through a combination of grants and loans from Pennsylvania’s Fresh Food Financing Initiative and Pennsylvania’s Redevelopment Agency, New Markets Tax Credit financing, the American Recovery and Investment Act financing, and other sources of state loan funds and leveraged financing. The Fresh Grocer opened its doors in 2009, creating more than 250 jobs, mainly filled by local residents. The store also increased access to affordable, fresh food for the residents in the underserved neighborhoods around La Salle’s campus. In addition, the construction of the store incorporated state-of-the-art energy refrigeration and energy management systems that reduce energy consumption and contribute to enhanced financial performance to ensure sustainable operations of the store.