Wilson Sonsini Advises PosiGen in $33 Million Series D
- Client Highlights
- Clean Technology
On December 16, 2020, PosiGen, the nation's leading provider of renewable energy and efficiency solutions for low-to-moderate income (LMI) households, announced the first close of its Series D growth equity financing with a $33 million investment from a group of leading impact-focused private equity investors. The Series D investment syndicate is led by the Builders Fund, The 2040 Fund, and Emerson Collective. Wilson Sonsini Goodrich & Rosati represented PosiGen in the transaction.
PosiGen's mission is to close the clean energy affordability gap for LMI homeowners by delivering lower-cost utility bills and the environmental benefits of clean energy through rooftop solar and energy efficiency upgrades. PosiGen has served over 17,000 customers to date and is now positioned to rapidly scale. The funds raised through the Series D growth equity financing will be primarily used to expand to select markets across the nation, as PosiGen looks to achieve its core mission of making solar available to everyone, regardless of income or credit score. PosiGen's unique business model of low-cost rooftop solar panel leases combined with energy efficiency upgrades makes clean energy available to LMI households who can see dramatic savings well in excess of 20 percent of their annual energy spend.
The Wilson Sonsini team that represented PosiGen in the transaction includes Bob O’Connor, Piper Miles-Coccaro, Justin D’Aniello, Jocelin Chang, Kate Georgen, Kevin Guzik, and Karen Becker (paralegal).
For more information, please see PosiGen’s press release.