Capital One announced that it has provided term loans to finance the renovation of the Washington, D.C., headquarters of the American Geophysical Union (AGU). Capital One’s participation included a tax-exempt bond held by Capital One Municipal Funding and a taxable bond held by Capital One, N.A. AGU aspires to be the first organization in the District of Columbia to renovate an existing commercial building for net-zero energy usage.
“At Capital One, we consider environmental sustainability an essential element of corporate citizenship,” said Kathleen Malloy, Senior Vice President and Washington-area Manager of Capital One’s Not-for-Profit Banking Group. “We were able to move quickly to provide AGU with the best possible financing tailored to their specific needs for this groundbreaking project.”
A net-zero building realizes an annual balance between energy demand and the energy created on site. To achieve net zero, AGU incorporated a variety of sustainable technologies including an 11.5-foot-high rooftop photovoltaic array, a green wall to reduce energy loads and improve indoor air quality, a municipal sewer heat exchange, and high-performance exterior upgrades such as triple-pane glazing, dynamic glass shading, and enhanced insulation. The building will attain other sustainability goals by reusing existing architectural elements, repurposing building materials, and recycling demolition and construction debris.
“We’re pleased to work with Capital One, a partner with a dedication to environmental sustainability, in our efforts to renovate our headquarters to achieve net zero energy goals,” said Christine McEntee, AGU’s Executive Director and CEO. “In undergoing this project and showcasing sustainability and environmental best practices to reduce our own footprint, we hope the project will provide a guide for other organizations, in Washington, D.C., and across the country, looking to reduce their energy needs and environmental impact.”
The renovated 62,000-square-foot headquarters building will include a collaborative, state-of-the-art conferences center and workspace for AGU members, the public, and staff. In addition, it will house an interactive public exhibit highlighting innovations in Earth and space science. The building is expected to reopen in time for the organization’s 51st annual Fall Meeting. The reopening will also serve as the unofficial kick-off for the AGU’s centennial celebration, which will take place in 2019.
Dedicated to advancing the Earth and space sciences for the benefit of humanity through scholarly publications, conferences, and outreach programs, AGU is a not-for-profit, professional, scientific organization representing more than 60,000 members in 139 countries.