New York, NY (PRWEB) August 25, 2014
Advanced Energy Capital, LLC (“AEC”), an energy finance company led by Jack Doueck and Richard Rudy, has announced that it has acquired a stake in Greenbacker Group (“Greenbacker”), which, through its subsidiary, Greenbacker Capital Management, is the manager of the Greenbacker Renewable Energy Company, a publicly-registered, New York based company focused on investments in the renewable energy sector.
“AEC is the ideal partner for us. Messrs. Doueck and Rudy and their team have extensive experience in asset-based lending and finance across a variety of industry sectors including energy. We look forward to working with them for many years to come,” said David Sher, Co-CEO of Greenbacker Group.
Advanced Energy Capital will originate and help underwrite Energy Efficiency and Energy Storage Finance transactions for its investors and it is anticipated that Greenbacker Renewable Energy Company will participate in those deals as it continues its $1.5 billion raise.
The partners at AEC, in their 25 years together, have financed hundreds of millions of dollars of credit transactions.
"AEC is currently in talks with over a dozen energy efficiency and energy storage companies with the goal of assisting them finance their project pipelines, as well as their operating platforms" says Rick Rudy, principal of AEC.
"We are crafting flexible financing solutions so that end-users, such as building owners and industrial customers, will be able to access energy efficiency and energy storage without a cash outlay.”
“We are speaking with energy service companies and project developers who want to bring energy efficiency transactions to fruition and, on the other side, we are speaking with energy storage developers and enablers who want to grow their businesses," said Jack Doueck, principal and co-founder of AEC. “These companies are looking for ways to market their products and will now offer a ‘turn-key’ solution for the end-users which they expect will open the door to exponential growth.
The powerful combination of Greenbacker’s renewable energy expertise, and AEC’s credit, finance and structuring expertise should help many -companies achieve their goals."
About Advanced Energy Capital ("AEC")
AEC is a specialty finance firm dedicated to providing affordable and innovative financing solutions to Energy Efficiency, Energy Storage, Renewable Energy and Retail Energy businesses. AEC’s flexibility allows it to focus on small and medium size businesses and its capital pool permits it to fund significant projects and pipelines of opportunity. AEC’s finance clients have tapped into both senior as well as junior tranches of capital to jump-start their growth. With respect to Energy Efficiency and Energy Storage, AEC has developed unique and simple end-user turnkey financing solutions that enable energy firms to dramatically increase their revenues by offering customers embedded financing without up-front payments.
Greenbacker is an asset management business that intends to bring investment products to the retail public in a previously unavailable asset class: renewable energy, energy efficiency, and sustainability. Greenbacker’s vision is that ordinary Americans should own the energy generation assets of the future. To execute its strategy, Greenbacker created a publicly registered company (Greenbacker Renewable Energy Company “GREC”) and received SEC and FINRA approval for a $1.5 billion public offering. Greenbacker has assembled an experienced management team to execute our business plan. The team has combined experience of over $50 Billion in energy infrastructure and related investments. Greenbacker is supported by investments from AEC and Franklin Park Management.