Posigen Announces $100 Million Preferred Equity Financing
01/05/22, 10:07 AM
Location
new orleansMoney raised
$100 million
PosiGen, the nation's leading provider of renewable energy and efficiency solutions for low-to-moderate income (LMI) households, is pleased to announce the close of a $100 million preferred equity financing. Magnetar Capital's Energy & Infrastructure group was the lead investor in the financing and will nominate two new directors to join PosiGen's Board of Directors. Existing PosiGen investors, including Emerson Collective, Irradiant Partners, Activate Capital, The Builders Fund, SJF Ventures, and The Kresge Foundation, also participated in the financing.
Company Info
Location
new orleans, louisiana, united states
Additional Info
Headquartered in New Orleans, LA, PosiGen is the nation's leading residential solar, energy efficiency and energy education providers for low-to-moderate income families. PosiGen has more than 19,000 residential customers, over 460 direct employees and supports more than 150 employees through its contractors in Louisiana, Mississippi, Connecticut, New Jersey, Pennsylvania, New York, and Florida. PosiGen's unique services and products make solar energy affordable to homeowners of all income levels, and offer individuals, families and businesses the opportunity to achieve greater fiscal autonomy and energy independence by lowering their utility bills. To learn more about PosiGen, please visit www.posigen.com.