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United States installer PosiGen lands US$ 100m in funding to grow low-income household offering

Jan 12, 2022 12: 59 PM ET

  1. PosiGen, a United States carrier of household photo voltaic as successfully as performance products and services for low- to average-earnings (LMI) households, has if truth be told secured US$ 100 million in appreciated equity financing.

The Fresh Orleans-headquartered industry claimed it is for the time being “positioned to swiftly scale” as it goals to creep its efforts to shut the orderly vitality imprint gap by supplying decrease expense vitality charges and the ecological advantages of orderly vitality thru home photo voltaic, vitality storage and also vitality performance upgrades.

Having safeguarded US$ 60 million in a Series D financing round closing year, PosiGen claimed basically the most up to this point progress capital will with out a doubt retain its progress at some level of unique states and also crimson meat up monetary investments in the industry’s standard technology infrastructure.

Change asset supervisor Magnetar Capital– which obtained property team Lendlease’s renewable vitality industry in 2020, renaming it Vesper Energy– used to be the lead financier in the most fresh round, whereas existing PosiGen financiers, in conjunction with Emerson Collective, Irradiant Companions, Prompt Capital, The Builders Fund, SJF Ventures as successfully as The Kresge Foundation, likewise took allotment in the elevating.

PosiGen wants to day served greater than 19,000 customers, around half of of them in communities of colour.

“As a firm, we predict about that offering LMI customers who will with out a doubt earnings basically the most from our photo voltaic plus vitality performance choices develops a virtuous cycle of cost– making a distinction in the lives and areas of the households we attend, whereas on the identical time riding client engagement and portfolio efficiency,” talked about PosiGen CEO Tom Neyhart.

PosiGen used to be allotment of a marketing campaign closing year that deployed extra than a heaps photo voltaic installments at station home, churches and neighborhood centres in Louisiana that had been left with out energy adhering to Hurricane Ida.


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