Business
Good Carbon Co. Closes $20 Million Loan Facility Upsize to Bridge Investment Tax Credits for Geothermal Systems
BUFFALO, N.Y., October 29, 2025--Good Carbon Co. (GCC) closed a $20 million loan facility upsize with NY Green Bank (NYGB) a division of the New York State Energy Research and Development Authority (NYSERDA), to support the installation of geothermal heating and cooling systems at its portfolio of multifamily affordable housing developments in the Buffalo region.
About this update from Gcc Sab De Cv
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":237,"url":"https://media.zenfs.com/en/business-wire.com/3cc6bc9006adabddd49caa75a6a4f632"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/.0qFQUh_d.9feLco4DLrjQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQ3NDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/3cc6bc9006adabddd49caa75a6a4f632","width":480,"height":237}},"lazy":false},{"type":"text","content":"Investment Tax Credit Transferability Bridge Facility will finance up to 25+ geothermal systems at affordable multifamily housing properties across Buffalo","length":155,"tagName":"p"},{"type":"text","content":"BUFFALO, N.Y., October 29, 2025--(BUSINESS WIRE)--Good Carbon Co. (GCC) closed a $20 million loan facility upsize with NY Green Bank (NYGB) a division of the New York State Energy Research and Development Authority (NYSERDA), to support the installation of geothermal heating and cooling systems at its portfolio of multifamily affordable housing developments in the Buffalo region.","length":382,"tagName":"p"},{"type":"text","content":"The facility—the first publicly announced Investment Tax Credit (ITC) transferability bridge loan for geothermal heating and cooling technology—allows GCC to further accelerate its mission of developing deeply decarbonized affordable housing.","length":242,"tagName":"p"},{"type":"text","content":"Over the next year, the facility may be utilized to fund the construction of up to 25+ geothermal systems eligible for federal Investment Tax Credits installed in multifamily affordable housing developments, boosting energy efficiency, cutting fossil fuel reliance and helping keep energy costs steady for residents. Geothermal systems leverage underground heat to provide highly efficient, carbon-free HVAC services to residents and are eligible for full federal Investment Tax Credits if construction starts by the end of 2033. By unlocking federal Investment Tax Credits, the facility will accelerate deployment of clean energy solutions while supporting equitable housing and community benefits.","length":699,"tagName":"p"},{"type":"text","content":"Adam Serbert, Good Carbon Co. President/CEO, said "This initiative demonstrates how innovative financing can accelerate the transition to clean, equitable en...