Skip to Content

NOPEC PACE Financing to Save Mantaline Corporation $19,000 Per Year in Energy and Maintenance Costs

By Mary Ripley on  October 19, 2017

Mantaline Corporation is the first entity in Portage County to take advantage of NOPEC’s Property Assessed Clean Energy (PACE) energy efficiency financing.  The company secured financing of $119,000 at a 3% fixed interest rate for 10 years. Mantaline, which designs, develops, and produces precision molded and extruded components for a variety of industrial markets, is using the funds to upgrade the lighting in their newest facility, The Plastics Innovation Center in Hiram, Ohio. The company is replacing the existing fluorescent fixtures with LEDs, most of which will also be equipped with occupancy sensors to enhance the energy efficiency.  The combined energy savings and reduced maintenance costs will save the company approximately $19,000 annually, equating to about a six-year payback on the investment. Mantaline, which has three other locations including a molding facility in Monterrey Mexico, and extrusion facilities in San Antonio, Texas and Mantua, Ohio, serves a global customer base throughout North and South America, Europe and Asia.  Current customers include BMW, VW, Ford, GM and Honda. “At Mantaline we are devoted to developing, inspiring and engaging our entire community of stakeholders in a healthy, vigorous and sustainable way.  This project will create a positive impact through investing our resources in the sustainability of our business.  Over the life of the fixtures we will help save over 4,000,000 pounds of carbon from entering the environment,” said David Little, Mantaline’s Head of Global Purchasing and Sustainability. Mantaline financed this project using NOPEC’s PACE financing program and will repay it through an assessment placed on the improved property.  The assessment is paid twice a year over a 10-year term. NOPEC launched its PACE program in May 2016.  The program provides financing of $100,000-$500,000 for energy efficiency and renewable energy projects. “This program gives our members another community and economic development tool, and our customers a way to finance smaller energy projects. The end result is savings. Mantaline’s project clearly demonstrates that,” said Portage County Engineer and NOPEC Board Member Mickey Marozzi. NOPEC offers this energy efficiency financing program to all member communities.  Public and private sector commercial properties, enrolled in NOPEC’s electric and gas aggregation programs, are eligible for this unique financing tool. Information on the program is available at www.nopecinfo.org/commercial.

Tags:
Categories:

Connect with Nopec

Join and get news and updates first

We promise not to sell your email or spam you.