Greenback Party

Sunlight Financial Emerges from Restructuring Process

Retrieved on: 
Wednesday, December 6, 2023

Sunlight Financial Holdings Inc. (“Sunlight Financial”, “Sunlight” or the “Company”), a technology-enabled point-of-sale finance company, today announced that it has successfully completed its Chapter 11 restructuring process and emerges as a stronger company with a clear vision for the future.

Key Points: 
  • Sunlight Financial Holdings Inc. (“Sunlight Financial”, “Sunlight” or the “Company”), a technology-enabled point-of-sale finance company, today announced that it has successfully completed its Chapter 11 restructuring process and emerges as a stronger company with a clear vision for the future.
  • The Consortium and CRB now own shares of capital stock representing 100% of the ownership of the Company.
  • “As long-term investors in the solar energy space, the members of the Consortium understand the value and impact Sunlight brings to our industry,” said Benjamin Baker, Managing Director of Greenbacker.
  • Weil, Gotshal & Manges LLP, Guggenheim Securities, LLC, and Alvarez & Marsal North America, LLC, advised Sunlight in connection with its chapter 11 cases.

Revolv Secures $25M in Project Financing for EV Fleets

Retrieved on: 
Thursday, November 16, 2023

SAN FRANCISCO, Nov. 16, 2023 /PRNewswire/ -- Revolv, a leading full-service provider of electric commercial fleets, today announced it has raised $25 million in equity project financing to fund the deployment of fleet electrification projects in the United States. Made possible by a commitment from Greenbacker Capital Management ("GCM" or "Greenbacker") through an affiliated investment vehicle focused on sustainable infrastructure, the new Revolv facility will be the first dedicated non-recourse financing facility for commercial EVs and charging stations in North America.

Key Points: 
  • SAN FRANCISCO, Nov. 16, 2023 /PRNewswire/ -- Revolv , a leading full-service provider of electric commercial fleets, today announced it has raised $25 million in equity project financing to fund the deployment of fleet electrification projects in the United States.
  • Revolv enables businesses to decarbonize their fleets by meeting customers wherever they operate, providing them with a single partner solution that encompasses electric vehicles and EV charging infrastructure owned, implemented, and maintained by Revolv – all supported by the company's post-implementation fleet optimization, analytics, and insights.
  • "Greenbacker's commitment to Revolv signifies the proven benefits of our full-service fleet solutions model, as well as the growing desire of corporates looking to expedite the adoption of their electric fleets," said Revolv CEO Scott Davidson.
  • "We look forward to collaborating with Revolv to help companies across the country decarbonize their fleets."

Greenbacker Development Opportunities expands private equity investment team

Retrieved on: 
Wednesday, October 11, 2023

NEW YORK, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Greenbacker Capital Management, LLC (“GCM” or “Greenbacker”), a leading renewable energy asset manager, is pleased to announce that it has expanded its private equity investment team, keeping up with its growing activity in the middle market of sustainable infrastructure.

Key Points: 
  • NEW YORK, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Greenbacker Capital Management, LLC (“GCM” or “Greenbacker”), a leading renewable energy asset manager, is pleased to announce that it has expanded its private equity investment team, keeping up with its growing activity in the middle market of sustainable infrastructure.
  • Most notably, Rahul Bhalodia has joined the firm as a managing director of the Greenbacker Development Opportunities (“GDEV”) strategy.
  • Along with managing director and group head Ben Baker, who joined Greenbacker in 2020 to launch the strategy, Bhalodia will lead origination, execution, investment management, and capital raising for GDEV.
  • He brings over two decades of investment experience in renewables and the energy transition, during which he managed real assets, growth equity, and venture capital investments.

Revolv Names Clean Mobility Leader Arno Harris to Board of Directors

Retrieved on: 
Tuesday, October 3, 2023

SAN FRANCISCO, Oct. 3, 2023 /PRNewswire/ -- Revolv, a leading full-service provider of electric commercial fleets, today announced the appointment of renowned clean energy leader Arno Harris to its Board of Directors. Joining Greenbacker Principal Quinn Pasloske and Revolv CEO Scott Davidson, Harris was an early investor in Revolv whose expertise in strategic partnerships will be instrumental as the company scales across the United States.

Key Points: 
  • With a 25-year-long track record scaling clean energy companies, Harris will accelerate Revolv's growth plans amid the rise of EV fleets
    SAN FRANCISCO, Oct. 3, 2023 /PRNewswire/ -- Revolv , a leading full-service provider of electric commercial fleets, today announced the appointment of renowned clean energy leader Arno Harris to its Board of Directors.
  • Joining Greenbacker Principal Quinn Pasloske and Revolv CEO Scott Davidson, Harris was an early investor in Revolv whose expertise in strategic partnerships will be instrumental as the company scales across the United States.
  • Arno Harris has nearly three decades of experience founding and scaling successful businesses at the intersection of clean energy and electric mobility.
  • "With experience leading many of the nation's most successful clean energy and electrification businesses, we've been fortunate to have Arno's support since the very beginning," said Scott Davidson, Revolv CEO.

Telyon announces investment from Greenbacker Capital Management

Retrieved on: 
Tuesday, August 22, 2023

NEW YORK, Aug. 22, 2023 /PRNewswire/ -- Telyon, a Connecticut based renewable energy development firm, announced today that it has finalized a strategic investment that will fuel continued growth and execution capabilities of its current and future pipeline of projects across the country. As part of the deal, Telyon has sold a significant minority stake of the company to a New York City-based private equity fund affiliated with Greenbacker Capital Management ("Greenbacker").

Key Points: 
  • Greenbacker makes a strategic equity investment in Telyon, a Connecticut-based renewable energy developer and leader in the Commercial & Industrial space.
  • As part of the deal, Telyon has sold a significant minority stake of the company to a New York City-based private equity fund affiliated with Greenbacker Capital Management ("Greenbacker").
  • "We're thrilled to have completed this transaction with the Greenbacker team," said Andrew Chester, CEO of Telyon.
  • "This investment allows Telyon to grow exponentially in the coming years, expand our platform's reach and continue to meet the complex and ever-changing renewable needs of our customers.

Greenbacker secures $75 million in warehouse facility financing

Retrieved on: 
Thursday, August 17, 2023

NEW YORK, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Greenbacker Renewable Energy Company LLC (“GREC” or “Greenbacker”), a leading climate-focused investment manager and independent power producer, announced today that it has closed on a new warehouse financing facility in an initial aggregate principal amount of $75 million, with the potential to increase up to $250 million.

Key Points: 
  • NEW YORK, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Greenbacker Renewable Energy Company LLC (“GREC” or “Greenbacker”), a leading climate-focused investment manager and independent power producer, announced today that it has closed on a new warehouse financing facility in an initial aggregate principal amount of $75 million, with the potential to increase up to $250 million.
  • Greenbacker will use the proceeds of the facility to support the construction and operation of its renewable power generation and energy storage portfolios.
  • Wells Fargo serves as sole lead arranger, bookrunner, sustainability structuring agent, and administrative agent for the facility.
  • Greenbacker is currently in market to upsize the facility through incremental commitments from other key lending relationships.

Greenbacker hires new Head of Real Estate Investments

Retrieved on: 
Thursday, August 17, 2023

NEW YORK, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Greenbacker Capital Management (“GCM”), a leading renewable energy asset manager, is pleased to announce that David Zackowitz has been hired as the firm’s new Head of Real Estate Investments.

Key Points: 
  • NEW YORK, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Greenbacker Capital Management (“GCM”), a leading renewable energy asset manager, is pleased to announce that David Zackowitz has been hired as the firm’s new Head of Real Estate Investments.
  • As Head of Real Estate Investments, Zackowitz will manage GCM’s investments in real estate—a sector that contributes approximately 40% of global GHG emissions.1 He will oversee deal origination and deploy capital to improve energy efficiency and support the expansion of electric vehicle fleet charging and rooftop community solar across the real estate assets acquired.
  • Zackowitz brings 22 years of experience in principal investments, asset management, and portfolio company oversight across the real estate asset class, including acquiring and implementing value-add strategies for $25 billion of commercial properties throughout his career.
  • “His experience and track record with some of the country’s leading real estate investment platforms will bolster Greenbacker’s capabilities within sustainable real estate—a sector with significant opportunity for investment to drive a clean energy future.”
    “I am thrilled to join the talented team at Greenbacker and look forward to growing the firm’s sustainable real estate business.

Greenbacker delivers second quarter results

Retrieved on: 
Tuesday, August 15, 2023

NEW YORK, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Greenbacker Renewable Energy Company LLC (“Greenbacker,” “GREC,” or the “Company”), an independent power producer and a leading climate-focused investment manager, has announced financial results1 for the second quarter of 2023, as well as substantial continued year-over-year fleet expansion.

Key Points: 
  • Operating revenue of nearly $51 million in the quarter, driven by strong energy revenue.
  • NEW YORK, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Greenbacker Renewable Energy Company LLC (“Greenbacker,” “GREC,” or the “Company”), an independent power producer and a leading climate-focused investment manager, has announced financial results1 for the second quarter of 2023, as well as substantial continued year-over-year fleet expansion.
  • As of June 30, 2023, Greenbacker was conducting business in 32 states, Canada, Puerto Rico, and Washington, DC.
  • With this capacity growth, the Company’s fleet generated over 765,000 MWh of total clean power during the quarter, a 17% year-over-year increase that highlighted the Company’s continued production growth.

Peak Power Raises $35 Million to Ramp Up Expansion of Its Energy Storage Optimization Software into the US

Retrieved on: 
Thursday, May 18, 2023

Peak Power controls and optimizes battery storage, grid-interactive buildings, and electric vehicles, unlocking their hidden capacity.

Key Points: 
  • Peak Power controls and optimizes battery storage, grid-interactive buildings, and electric vehicles, unlocking their hidden capacity.
  • Peak Power’s flagship software, Peak Synergy, optimizes for various revenue streams enabling investors to receive higher returns that can be used to deploy more battery storage projects.
  • With this latest injection of capital, Peak Power plans to ramp up its expansion into the US, hire for critical roles, and continue to develop its software capabilities.
  • The ITC reduces the cost of installing, owning, and operating battery energy storage systems, making them more attractive for investment.

rPlus Energies and Appaloosa Solar 1 Project Partners Launch the ‘Local First – Appaloosa Solar 1 Scholarship’, Committing $120,000 to Students of Iron County, UT

Retrieved on: 
Wednesday, May 17, 2023

The $120,000 scholarship is specifically for students who currently reside in Iron County, UT -- home to the 200-megawatt (MW) Appaloosa Solar 1 project.

Key Points: 
  • The $120,000 scholarship is specifically for students who currently reside in Iron County, UT -- home to the 200-megawatt (MW) Appaloosa Solar 1 project.
  • View the full release here: https://www.businesswire.com/news/home/20230517005212/en/
    Local First – Appaloosa Solar 1 Scholarship donors pose for a photo with Southern Utah University President, Mindy Benson.
  • (Photo: Business Wire)
    The Local First Scholarship series will be available exclusively to students residing in counties where rPlus Energies constructs a namesake project.
  • “We’re proud to continue contributing to the Local First scholarship series and supporting both education and the local workforce in Iron County.”