Scale Microgrid Solutions Announces First Closing of New Developer-Friendly Funding Products, Bringing Up to $ 55 Million in Available Capital for

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RIDGEWOOD, NJ – (BUSINESS WIRE) – Scale Microgrid Solutions announces the first closing of its new developer-friendly financial products, making up to $ 55 million of capital available to Urban Energy Inc. to grow the solar power in New York and beyond.

Urban Energy Inc. (“Urban Energy”) is designed to increase the adoption of distributed clean energy among small commercial buildings and residential condominium / co-ops in New York City by enabling investment-free participation and maximizing values system through city-specific technology and design. Their mission is to be the easiest way for New York City building owners to participate in clean energy projects. They have experienced spectacular growth in recent years, fueled by their focus on developing innovative roofing solutions for a historically underserved market. The team works tirelessly to meet New York City’s changing clean energy needs.

Scale Microgrid Solutions (“Scale”) is pleased to announce a funding commitment with Urban Energy to fund the development, construction and acquisition of community solar facilities in the five boroughs of New York and beyond. Scale is partnering with Urban Energy to break down the barriers that have traditionally challenged clean energy developers in dense urban environments.

“Scale has provided us with flexible development capital that will help us grow our pipeline. With their commitment to acquiring projects, we can now confidently deliver funded solutions to building owners in New York, ”said Russell Wilcox, co-founder and CEO of Urban Energy.

“We are excited to launch Scale’s Capital Solutions Development Finance Facility credit product with Urban Energy in New York. Urban Energy offers innovative solutions to save money and meet the energy needs of a wide range of New Yorkers. They will use this capital to reach new levels of scale, ”said Julian Torres, CFA, Chief Investment Officer of Scale Microgrid Solutions.

About Scale Microgrid Solutions: Scale is a vertically integrated distributed energy platform, whose primary goal is to design, build, finance, own and operate cutting-edge distributed energy assets that deliver cheaper, cleaner and more resilient energy. Their team of energy and financing experts are accelerating the growth of distributed energy projects by providing financing to technology providers, energy developers and OEMs, while directly helping large energy-consuming customers to take in charge of their energy infrastructure and to sustain their businesses.

About urban energy: Urban Energy was founded in July 2017 as a solar developer, EPC and advanced shelving manufacturer. Following the triple bottom line principles, Urban Energy makes rooftop solar energy viable for multi-family structures by offering scalable and fundable solar products, including an innovative solar awning designed specifically for underserved urban buildings. Urban Energy currently has a 6.5 MW pipeline of projects under contract in the Con Edison territory of New York and Westchester, representing more than 80 large multi-family residential and small commercial buildings. More than half of Urban Energy’s contracted projects will use the solar canopy, and almost all of them will serve low- and moderate-income buildings or social housing.

Contacts

Scale media:

Nicole Green

Director, Marketing and Branding

Micro-grid solutions at scale

nicole.green@scalemicrogridsolutions.com

Urban energy media:

Russell wilcox

Co-founder & CEO

Urban energy

rwilcox@urbanenergy.nyc

Copyright © acrofan / Business Wire All rights reserved

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