Recap was founded in 2010, initially as a consulting firm for sustainable finance. Since then, the company has evolved and started to offer Energy as a Service (EaaS) solutions to C&I clients in 2016. With a technical and commercial team in Tenerife, Recap started the deployment of its EaaS business in Spain, initially focused on the Canary Islands, but soon after also mainland Spain and Portugal. The expansion did not stop there, as Recap created the Colombian and Nordic (2018), Brazilian (2019), and Indian (2020) subsidiaries offering similar EaaS solutions. Recap is constantly looking to expand its energy services in the established markets, and now also broadening the scope to energy storage and Battery-as-a-Service to corporate clients.