Press releases

CleanCapital closes of $3.7M Investment Round to Help Investors Access Solar Market

We are excited to announce that our team at CleanCapital closed its Series A with a total investment of $3.7 million. This investment came through 50 investors to include FinTech and CleanTech leaders as well as SeedInvest’s Selections Fund in this latest round. The new capital will allow us to accelerate implementation of our technology roadmap, scale operations, grow our team, and expand opportunities for clean energy investing.

This new funding is driving our innovative approach to connect investors with investment-ready portfolios of solar projects across the United States. The capital will help us as we are actively acquiring seasoned solar projects that generate long-term contractual cash flows with creditworthy counterparties providing predictable long term returns. Our team performs best in class underwriting evaluation that uses our seasoned experience and proprietary metrics to acquire quality assets.

To date, our team has financed over $50M of solar projects and more than 20 MW in operating solar assets. We are already reducing barriers for institutional investors to access projects, and allows project owners to seamlessly exit their current portfolios.

Click here if you are ready to sell your solar project!

Who is investing?

We competed to be featured on leading startup fundraising platform SeedInvest which historically has accepted just 1% of startup applicants. In addition to SeedInvest, CleanTech leaders including Jeff Phillips, Treasurer and Co-Founder of the Corporate Climate Alliance and Barney Schauble, Managing Partner of Nephila Advisors join FinTech pioneers Ron Suber, President of Prosper Marketplace, Jon Barlow, Founder of Eaglewood Capital Management, and Bradley Pattelli, Former Chief Investment Officer of LendingClub with investments in CleanCapital.

What’s next?

We are busy implementing our technology road map and growing our team to make clean energy investing simple and accessible to everyone. We will continue to be a leading exit option for solar developers, and we will soon introduce new innovative financing products that will continue to propel clean energy growth.

CleanCapital Expands Team with Matt Eastwick, Former Managing Director of Global Environmental Fund

CleanCapital announced that Matt Eastwick has joined the company to structure and execute capital markets transactions. As Head of Capital Markets, Eastwick will bring an innovative approach to securing the optimal structures and investors for CleanCapital’s various and growing capital needs. Eastwick’s hire comes after a successful Series A equity raise this past summer, as CleanCapital continues to scale operations, while expanding opportunities for clean energy investing.

The renewable energy industry offers a variety of different financial structuring opportunities, and Eastwick, having spent the last eight years focused exclusively on these types of transactions, is bringing his expertise across several areas of fixed income and equity markets to the team. In this new role, Eastwick will also support the CleanCapital team to leverage big data analytics and technology to reduce inefficiencies that still exist for this sector of the market.

We are committed to creating innovative financing solutions that reach all segments of the market, and bringing a seasoned capital markets leader like Matt to the team will accelerate that effort.”— Thomas Byrne, CEO, CleanCapital

“Throughout my career in the capital markets and renewable energy finance, I’ve had the opportunity to work on a number of exciting and groundbreaking transactions,” stated Eastwick. “CleanCapital’s pioneering mission to innovate in the renewable energy market attracted me to join the company, and I look forward to building out our capital markets leadership.”

“Matt’s breadth of capital markets experience will help CleanCapital grow into a market leader,” said CleanCapital CEO Thomas Byrne. “We are committed to creating innovative financing solutions that reach all segments of the clean energy market, and bringing a seasoned capital markets leader like Matt to the team will accelerate that effort.”

Earlier in his career, Eastwick held various leadership positions at Credit Suisse, Deutsche Bank, and Merrill Lynch.

Jurgen Altziebler joins CleanCapital

Jurgen Altziebler has joined CleanCapital to lead the creative direction of our clean energy finance platform. As Head of Design, Jurgen will help expand CleanCapital’s online clean energy marketplace and will be responsible for managing our brand and visual identity.

A Webby award-winning creative director and interface architect for desktop and mobile applications, Jurgen adds deep expertise in information architecture and user experience (UX) to the CleanCapital team. Most recently, Jurgen was Product Design Lead at Elastic, a software provider that makes structured and unstructured data usable in real time for search, logging, security, and analytics use cases. As the first UX hire at Elastic, he pioneered product design at a rapidly growing enterprise software startup. During his time with the company, Jurgen combined multiple open source projects under one unified user interface and laid the foundation for versions to come. Jurgen’s exceptional talents have been awarded by One Show, Print Magazine, and The International Academy of Digital Arts and Sciences.

“When I learned about CleanCapital’s vision for clean energy and finance, I realized that this is a once-in-a-lifetime opportunity to create a global environmental impact with design,” said Jurgen. “Good design enables users to understand data and make smart decisions for their businesses, their families, and the future of our planet. It’s this synergy that transforms a business into a power brand.”
Earlier in this career, Jurgen held various roles with leading national corporations and nonprofit organizations across an array of industries, including CoreBrand, Siegel & Gale, OVEN Digital, ADP, American Express, AT&T, Microsoft, JPMorgan Chase, Pew Research, Pepsi, Motorola, and The World Bank. Jurgen studied design at the Parsons School of Design.

Solar hasn’t seen the revolution in UX that’s come to other industries. We face the challenge of visualizing complex data sets at the intersection of clean energy and finance. I can’t think of anyone better suited to help us grow in this environment than Jurgen.

CleanCapital Closes Investment Round Led By FinTech Leaders And Pioneers

WASHINGTON, DC— CleanCapital, an innovative online marketplace for clean energy investing, announced today the closing of the first round in Series A funding, as part of an ongoing capital raise. The new capital will allow CleanCapital to implement their technology roadmap and continue scaling operations, growing its team, and expanding opportunities for clean energy investing. CleanCapital’s proprietary platform has benefits that are two-fold, by creating opportunity for investment and increasing ease for project owners to exit their current portfolios. By reducing barriers both for the flow of capital and access to investments, CleanCapital is accelerating clean energy deployment.

This capital raise follows an exceptional first year for CleanCapital. To date, the team has financed over $40M of solar projects and more than 20 MW in operating solar assets. They have also received funding from industry leader John Hancock Life Insurance to finance numerous assets. CleanCapital has created a unique algorithm to efficiently scrub and value projects so that only the best investment opportunities are included in investment portfolios.

Investors include FinTech leaders and pioneers such as Ron Suber, President of Prosper Marketplace, Jon Barlow, Founder of Eaglewood Capital Management, and Bradley Pattelli, Former Chief Investment Officer of LendingClub. In addition, the company was recently selected to be featured on leading startup fundraising platform SeedInvest which historically has accepted just 1% of startups applicants.

“To accelerate clean energy we need a marketplace that provides all investors with access to this asset class. Our team is honored to be working with numerous FinTech pioneers to grow CleanCapital and clean energy more broadly,” said Thomas Byrne, Co-founder and CEO of CleanCapital. “CleanCapital is committed to attracting more investors to the space by providing a simple, understandable way to invest in clean energy.”

Ron Suber is at the center of San Francisco’s flourishing FinTech community. As of today, he’s invested in 16 FinTech companies, including high-profile players like DocuSign and SoFi, and serves as an official advisor to a half dozen companies.

“Clean energy is more important than ever before. I am excited to support CleanCapital as it provides retail and institutional investors with a simpler way to invest in clean energy. They have a strong team that can execute and a unique strategy to accelerate growth in the industry,” said Ron Suber, President of Prosper Marketplace.

Jon Barlow is the founder and former CEO of Eaglewood Capital Management, a leading P2P asset-management firm with approximately $2 billion of assets under management. He currently serves as a director and advisor to several FinTech companies, including Money360, eOriginal, VeriComply and Marketlend.

“I was initially attracted to CleanCapital because they are on the cutting edge of an emerging and highly scalable asset class, with an innovative platform that I believe helps create an attractive risk adjusted return profile for investors and accelerates clean energy at the same time,” Mr. Barlow said. “Furthermore, they have validated their market and I believe the company is poised to grow substantially as both institutional and retail investors discover the compelling merits of this platform.” Mr. Barlow’s investment was consummated following a multi-month due diligence process, and he will join CleanCapital as a board advisor.

Bradley Pattelli, the Founder of Troodon Advisors, is the former Chief Investment Officer of LendingClub. Prior to joining LendingClub, Pattelli was a partner at Angelo, Gordon & Co., a $26 billion alternative investments advisor, where he managed CDO portfolios and multiple non-investment grade portfolios while leading significant growth in assets and delivering solid returns. Pattelli, a Chartered Financial Analyst, holds a Bachelor’s of Science in Electrical and Computer Engineering from the University of Notre Dame and received an MBA from Columbia Business School, where he was most notably trained by Jim Rogers, Chairman of Rogers Holdings. CleanCapital is excited to welcome Mr. Pattelli to the Board of Directors.

“CleanCapital has the potential to profoundly transform clean energy by leveraging its proprietary technology to create a lower cost, more transparent flow of capital between projects and investors,” said Pattelli. “By streamlining the acquisition of high quality, clean energy projects, CleanCapital is able to pass through the benefits to its investors. I look forward to working with this talented team to help make CleanCapital a reliable provider of unique, tax efficient, impact investments to alternative fixed income investors.”

CleanCapital will be making a small portion of its Series A available to individual investors who are interested in clean energy through SeedInvest. For more information, potential investors may visit www.seedinvest.com/cleancapital.

 

CleanCapital And Generate Capital Announce Partnership To Enable The Acquisition Of $300 Million In Operating Clean Energy Assets

FINANCIAL FACILITY TO FOCUS ON DISTRIBUTED SOLAR PROJECTS
CleanCapital announced today a partnership with Generate Capital that enables the acquisition of approximately $300 million of operating clean energy assets. The transaction harnesses Generate Capital’s proven track record of backing innovative approaches to financing clean energy infrastructure solutions. The relationship between these groundbreaking firms brings liquidity to the distributed solar market and provides project owners access to permanent, flexible capital and exit opportunities in an otherwise limited market.

The innovative warehouse facility has the capacity to acquire $300 million in operating clean energy projects with a near term focus on distributed solar. It provides CleanCapital the flexibility to acquire assets while also offering investment opportunities through its state-of-the-art innovative investment platform and alongside a trusted industry partner, Generate Capital.

“Distributed energy resources are a critical component of the future electric grid but to date the investment opportunities have been limited. CleanCapital’s streamlined approach is attractive as it facilitates access to safe and secure opportunities to invest in these low-risk, cash flowing assets,” said Jigar Shah, President of Generate Capital. “After financing billions in innovative infrastructure, my co-founders and I created Generate’s novel model to fill a funding gap and advance the proven solutions required to build a resource-efficient economy. We’re pleased to partner with CleanCapital and its investors to bring a trusted, robust solution to this historically illiquid sector.”

“To rapidly transition to a clean energy economy, we need broader participation from the investment community and increased opportunity for project owners to successfully exit their existing portfolios. CleanCapital is committed to attracting more investors to the space by providing a simple, understandable way to invest in clean energy, ultimately facilitating access to the billions of dollars of untapped capital sources that have been searching for opportunities in this sector,” said Thomas Byrne, Co-founder and Chief Executive Officer of CleanCapital. “Partnering with Generate Capital, one of the most forward-thinking clean energy capital providers, gives us the resources and experience to accelerate that goal.”

CleanCapital delivers technology solutions to all aspects of the transaction process – from lending to capital raising, origination to diligence. The proprietary platform identifies, screens and manages clean energy projects for investors, expanding the clean energy market that until now has been limited to only a handful of institutional investors, banks, private equity firms, and tax equity investors.

About CleanCapital:
CleanCapital is a financial technology company that makes it easy to invest in clean energy. CleanCapital allows accredited investors, including institutional investors, family offices, and investment funds, to invest in secure and diversified clean energy projects. Investors can monitor investments in real-time using our seamless online platform. We were founded in 2015 and are headquartered in New York, NY. Stay up to date on the evolving market of clean energy finance by signing up on our website, following us on Twitter, liking us on Facebook or connecting via LinkedIn.

About Generate Capital, Inc.
Generate Capital is a specialty finance company based in San Francisco, California, founded by leaders in the renewable energy, technology, finance and sustainability sectors. Generate partners with project developers and technology manufacturers globally to finance proven solutions for the Resource Revolution; doing more with less of our critical resources like energy, water, food and materials. For more information on Generate Capital, please visit www.generatecapital.com.

The Evolution Of Solar Finance

It was not that long ago solar energy developers needed to convince a capital partner there was enough sunshine in New Jersey to power homes. The uncertainty of the market, questions about the reliability of the photovoltaic panels themselves, and unfamiliarity with power purchase agreements caused significant challenges to get new projects financed. Over time, as the right policies began to align, projects were built and the cost of solar panels declined. The risks began to mitigate allowing more capital to enter the market and reduce transaction costs. Cheaper deals meant better prices for the power, better prices meant more deals, and the solar marketplace grew exponentially. Today, solar is competing for a share in the $5 trillion renewable energy market projected for 2030. This changing business landscape leads us to the next phase of solar finance.

Read the rest of the article in North American Clean Energy.

Governor Cuomo Announces CleanCapital As 43North Finalist

On Monday, October 3 New York Governor Andrew Cuomo announced CleanCapital as one of the 16 finalists for 43North, the world’s largest business idea competition. CleanCapital will now compete in front of a panel of expert judges in Buffalo to win 43North’s top cash prize of $1 million.

“CleanCapital is excited to bring our innovative business model to Buffalo and introduce 43North to the future of clean energy finance,” Jon Powers, Buffalo native and Chairman and Co-Founder of CleanCapital said. “Cleantech and fintech are two rapidly growing industries, and CleanCapital’s unique approach merges these two markets while accelerating clean energy deployment and providing great returns for investors.”

“43North continues to draw some of the world’s best, brightest and most innovative entrepreneurs to Buffalo—helping to remake the city and revitalize Western New York’s economy—and the best is yet to come,” Governor Cuomo said. “I look forward to the third year of this competition and the additional excitement and momentum it provides to a city that continues to be on the move.”

Earlier this summer CleanCapital announced a $21 million deal backed by John Hancock. Just last week they launched the ability for accredited investors to invest in a diversified solar portfolio directly via CleanCapital.com. An award through 43North would allow for an accelerated deployment of their transformational investment platform.

Historically, clean energy finance has been limited to institutional investors, large banks, private equity firms, and tax equity investors. CleanCapital changes that, and allows more people to have access to these lucrative investments. The CleanCapital strategy is about long term investing and maximizing existing cash flowing assets.

CleanCapital’s investment platform identifies, screens and manages clean energy projects for investors. The team manages the entire process—from sourcing projects to underwriting and evaluating each project. Once the project is onboarded, CleanCapital actively monitors the investment in real-time and distributes proceeds to investors. By eliminating typical transaction barriers and making capital more accessible, they’re accelerating clean energy growth worldwide.

About CleanCapital:
CleanCapital is a financial technology company that makes it easy to invest in clean energy. CleanCapital allows accredited individuals—including institutional investors, family offices, and investment funds—to invest in secure and diversified clean energy projects. Investors can monitor investments in real-time using our seamless online platform. We were founded in 2015 and are headquartered in Washington, DC. Stay up to date on the evolving market of clean energy finance by signing up on our website, following us on Twitter, liking us on Facebook or connecting via LinkedIn.

About 43North:
43North is the $5 million startup competition, awarding cash prizes to some of the best entrepreneurs and startups from around the world. 43North winners also receive free incubator space in Buffalo for one year, guidance from mentors in related fields, and access to other business incentive programs such as START-UP NY. 43North operates through the support of Governor Andrew Cuomo’s Buffalo Billion initiative and grants of $6 million from the New York Power Authority and $1 million from Empire State Development. Additional support comes from National Grid and several other sponsors. For a full list of sponsors and more information about 43North, visit www.43north.org.

CleanCapital Announces John Hancock To Lead Financing Of Distributed Generation Solar Portfolio

CleanCapital announced today a first-of-its-kind clean energy financing opportunity. The company closed its first offering in which individual private investors are able to invest directly into a diversified portfolio of solar projects. CleanCapital received funding from John Hancock Life Insurance Company, which invested senior debt into the $21 million portfolio of 15 solar projects in 7 states.

“This is an exciting time for CleanCapital and a turning point for clean energy investing, as we demonstrate to the market a more efficient process for solar developers to quickly exit their existing distributed generation portfolios,” said Jon Powers, Co-Founder of CleanCapital. “We are pleased to have John Hancock’s support because of their long history of financing in the renewable energy space.”

Historically, clean energy finance has been limited to institutional investors, large banks, private equity firms, and tax equity investors. CleanCapital changes that, and allows more people to have access to these lucrative investments. The CleanCapital strategy is about long term investing and maximizing existing cash flowing assets.

CleanCapital’s investment platform identifies, screens and manages clean energy projects for investors. The team manages the entire process—from sourcing projects to underwriting and evaluating each project. Once the project is onboarded, CleanCapital actively monitors the investment in real-time and distributes proceeds to investors. By eliminating typical transaction barriers and making capital more accessible, we’re accelerating clean energy growth worldwide.

“Solar project investing offers the opportunity to invest in clean and renewable sources of energy with predictable cash flows each year. CleanCapital provides high quality investment opportunities with long term power contracts,” said Scott Kushner, Director, Power & Infrastructure at John Hancock.

The portfolio is a mixture of ground-mounted and roof-top solar systems that provide electricity to school districts, universities, and large enterprises. The CleanCapital-John Hancock financing enables large institutional investors to make high impact and high yield investments in clean energy channels.

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“The solar projects are a win-win for our school district, not only are we making a positive contribution to the community by transitioning to renewable energy, the schools are receiving free solar power and using technical performance data from these systems to enhance classroom learning,” said Richard Steinbrugge, the Executive Administrator for Facilities, Beaverton School District. “The CleanCapital team made the acquisition of the investor-financed solar projects located on three schools in our district frictionless. I am looking forward to working closely with them in the future.”

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This is the first in a series of offerings CleanCapital will roll out this year, as the company already has over $100 million in operating distributed generation solar projects in the pipeline for future investments