NJEDA Awards More than $3.3M through NJ Cool Program to Support Energy Efficiency Projects

The program aims to reduce greenhouse gas emissions from buildings in select New Jersey municipalities

TRENTON, N.J. (March 4, 2025) – The New Jersey Economic Development Authority (NJEDA) has awarded more than $3.3 million under the NJ Cool program to support five clean energy projects in Edison and Newark. Through this program, building owners and tenants in eligible municipalities can receive grants for construction projects that reduce greenhouse gas emissions.

“Under Governor Phil Murphy’s leadership, New Jersey continues to invest in our clean energy economy by supporting programs and initiatives that lower our carbon footprint, and foster a cleaner and greener state,” said NJEDA Chief Executive Officer Tim Sullivan. “These approvals will help improve the health and well-being of families and children in the Newark and Edison communities, while creating jobs and boosting New Jersey’s clean energy sector.”

Edison 27 Investors, LLC, the owners of a multi-tenant office building in Edison, was awarded $1 million in grant funding through NJ Cool to replace six existing rooftop Heating, Ventilation, and Air Conditioning (HVAC) units with efficient electric models, as well as upgrade the associated system controls within the building.

“We are thrilled to receive this NJ Cool funding to modernize our building’s HVAC systems and enhance energy efficiency,” said David Elkouby, a partner at American Equity Partners, the owner of Edison 27 Investors, LLC. “Energy conservation and sustainability are top priorities for us, and this project will reduce emissions, lower costs, and create a greener environment for our tenants.”

Samp Spirits II Inc., the owners of Harvest Wines & Spirits in Edison, was awarded over $200,000 in grant funding to replace the store’s existing natural gas fired rooftop HVAC unit with a new air-source heat pump and auxiliary gas burner, as well as install solar photovoltaic panels, upgrade the interior and exterior lighting to energy-efficient LED lighting, and replace the roof with improved thermal insulation.

“HWS is taking a bold step toward sustainability with new energy efficiency upgrades, supported by NJEDA incentives that reduce costs and maximize savings,” said Rakesh Patel, Partner at HWS. “These upgrades include high-efficiency lighting, HVAC system modernization, and renewable energy solutions, cutting greenhouse gas emissions while lowering operational expenses. By leveraging these incentives, we are achieving top-tier efficiency and a greener footprint, benefiting both the environment and the community.”

Samarpan at Edison, LLC, an independent franchisee of a Dunkin’ in Edison, was awarded over $130,000 in grant funding through NJ Cool to replace the building’s existing HVAC system, as well as upgrade the interior and exterior lighting systems to utilize energy-efficient LEDs.

“With the support of the NJ Cool grant, we are taking meaningful action to combat climate change by reducing emissions and improving energy efficiency,” said Himanshu Patel, a partner at Samarpan at Edison LLC (DBA Dunkin’). “This initiative reflects our ongoing commitment to environmental stewardship and a more sustainable future for New Jersey.”

153 Halsey Newark, LLC was awarded two grants through NJ Cool totaling $2 million for projects at two commercial condominium units they own in Newark. The grants will be used to replace existing natural gas boilers in the building with an electric Variable Refrigerant Flow (VRF) system, as well as make energy-efficient lighting upgrades.

“153 Halsey Newark LLC and our partners, SHIFT Capital, The Hanini Group, and Mahalakshmi LLC, are excited for the opportunity to partner with the New Jersey Economic Development Authority on the NJ Cool Program,” said Jamie Graziano, Senior Asset Manager at SHIFT Capital. “Our companies have been significant players in the rehabilitation of Newark and other metropolitan areas with a focus on creating equitable and mixed-income communities for the long-term. We believe community-centered investments create shared and sustainable economic opportunity and growth, and community impact that unites people, businesses, neighborhoods, and cities. With the help of the NJEDA, we hope to continue our investments in Newark and have a positive impact on the local communities that we serve. We thank NJEDA for their continued support.”

Under NJ Cool, the NJEDA provides grants of up to $1 million for 50 percent of project costs to applicants for eligible hard construction costs for emissions-reducing retrofit projects. Projects are required to update the building’s heating or cooling system and can also include other energy efficiency measures or adding on-site renewable energy systems, such as solar panels. In addition to reducing emissions, the program intends to accelerate the adoption of more environmentally friendly building systems, technologies, and construction practices within New Jersey. Currently, projects in the municipalities of Atlantic City, Edison, and Newark are eligible.

Applications for NJ Cool are currently open and are being accepted on a first-come, first-served basis. For more information on the program, including full application requirements and eligible projects, please visit https://www.njeda.gov/njcool/ or email njcool@njeda.gov.

About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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