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Posigen Announces $100 Million Preferred Equity Financing

Jan 05, 2022•over 3 years ago

Amount Raised

$100 Million

New Orleans

Description

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 Information

Company

Posi Gen

Location

New Orleans, Louisiana, United States

About

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.

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