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- PosiGen
PosiGen Funding, Investors & Competitors
PosiGen has raised $220M across 8 funding rounds, most recently a $100M undisclosed-stage round in January 2022.
Last PosiGen funding round
$100M
Undisclosed stage · Jan 2022
Cumulative funding PosiGen raised
$220M
across 8 funding rounds
Key investors in PosiGen
Emerson Collective
SJF Ventures
The Builders Fund
Activate Capital
Impact Engine
Constellation Technology Ventures
Magnetar Capital
Kayne Anderson Capital Advisors
About PosiGen
PosiGen is a New Orleans-headquartered residential solar installer specializing in third-party ownership models for low- to moderate-income homeowners. Operating across Louisiana, New York, and Connecticut, it bundles solar panels, energy-efficient HVAC upgrades, and battery storage to reduce utility bills by up to 50 percent through Power Purchase Agreements.
Founded
2011
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Services
PosiGen Funding History
PosiGen has raised a total of $220M across 8 funding rounds.
PosiGen's first fundraising round was a $9M Series A in November 2015. The most recent completed round was a $100M undisclosed-stage round in January 2022.
PosiGen funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jan 2022 | Undisclosed stage | Magnetar Capital (lead); SJF Ventures; Emerson Collective; Irradiant Partners; Activate Capital; The Builders Fund; Kresge Foundation | $100M | PosiGen, headquartered in New Orleans, Louisiana, is the nation's leading provider of residential solar, energy efficiency, and energy education solutions targeting low-to-moderate income (LMI) households. The company serves customers in states including Louisiana, Mississippi, Connecticut, New Jersey, Pennsylvania, New York, and Florida, with over 19,000 residential customers and more than 460 direct employees plus 150 contractor-supported roles as of early 2022. PosiGen's model focuses on delivering lower utility bills through solar PV, storage, and efficiency upgrades without requiring high FICO scores or strict debt-to-income ratios, positioning itself as a utility replacement for LMI families, about 50% of whom are in communities of color. On January 5, 2022, PosiGen closed a $100 million preferred equity financing led by Magnetar Capital's Energy & Infrastructure group, which nominated two directors to the board. Existing investors Emerson Collective, Irradiant Partners, Activate Capital, The Builders Fund, SJF Ventures, and The Kresge Foundation participated. Marathon Capital advised PosiGen exclusively on the transaction, with Wilson Sonsini Goodrich & Rosati as legal counsel and Kirkland & Ellis advising Magnetar; PLEXUS Solutions provided diligence. The funds aim to accelerate growth, expand the footprint nationally, support entry into new markets like Illinois, Missouri, Washington D.C., and Massachusetts, and enhance partner financing in California. PosiGen's revenue model leverages federal Investment Tax Credits, local subsidies, and partnerships with banks and tax equity providers like GAF Energy to finance installations leased to homeowners. The company demonstrated resilience post-Hurricane Ida by deploying 12 solar power stations at disaster sites. Magnetar, managing $13.5 billion in assets with extensive energy and infrastructure experience, sees PosiGen scaling to address the clean energy affordability gap for LMI households. |
| Apr 2021 | Series D | SJF Ventures; Kayne Anderson Capital Advisors; Activate Capital | $27M | PosiGen is the nation's leading provider of renewable energy and efficiency solutions, specializing in solar and energy efficiency for low-to-moderate income (LMI) households through no-credit-check financing to reduce utility bills. On April 28, 2021, it completed the second close of its Series D growth equity financing with $27 million from Activate Capital, Kayne Anderson Capital Advisors, and SJF Ventures, bringing the total Series D to $60 million after a $33 million first close in December 2020. Earlier funding included Series D investments from Emerson Collective and The Builders Fund. The company aimed to expand clean energy access and close the affordability gap for underserved communities. PosiGen had raised prior rounds totaling significant capital by 2021, with historical financings like Series B ($20M in 2016) and others from investors including NewWorld Capital Group and Constellation Technology Ventures. Later developments included additional funding commitments, such as $200 million from Brookfield in 2024, but the company faced financial difficulties by 2026, ceasing most operations due to liquidity issues and federal tax credit rollbacks. |
| Dec 2020 | Series D | Emerson Collective (lead); The Builders Fund (lead); Impact Engine | $33M | PosiGen is the nation's leading provider of renewable energy and efficiency solutions for low-to-moderate income households, operating in states including Louisiana, Connecticut, New Jersey, New York, and Florida. The company offers solar leases and energy efficiency services, enabling customers to save approximately 20% on energy costs, with over 17,000 customers at the time of the Series D announcement. On December 16, 2020, PosiGen completed the first close of its Series D growth equity financing, raising $33 million from impact-focused investors led by The Builders Fund, Emerson Collective, and The 2040 Fund. A second close added $27 million in April 2021, supporting accelerated national expansion amid strong unit economics and growth through the COVID-19 pandemic. Marathon Capital acted as exclusive financial advisor for the Series D, assisting with the first close and planning additional capital for growth. Investors highlighted PosiGen's mission-driven model combining economic upside, carbon mitigation, and economic empowerment for underserved communities. The funding enables scaling to meet rising demand for renewable energy solutions as families seek cost savings and investors prioritize the sector. |
| Apr 2019 | Undisclosed stage | GAF (lead) | $20M | PosiGen is a New Orleans-based provider of renewable energy and energy efficiency solutions targeting low-to-moderate income households, offering solar systems and upgrades without credit checks to reduce utility bills. In 2019, the company secured a $20 million tax equity investment from GAF Energy to fund approximately 2,500 new and upgraded solar systems in states including Connecticut, Florida, Louisiana, and New Jersey. This followed a $90 million debt facility earlier that year from Inclusive Prosperity Capital, LibreMax Capital, and Connecticut Green Bank. By that time, PosiGen had served over 14,000 customers since its 2011 founding, aiming to close the clean energy affordability gap. The GAF-led round was structured as tax equity where the investor receives tax benefits like Production Tax Credits and depreciation in exchange for capital contributions to project assets. GAF Energy, part of Standard Industries, provides integrated solar solutions for roof replacements and tax equity for renewables projects. PosiGen continued scaling post-2019 with additional debt and equity raises, including a Series D in 2021 ($60M from Active Capital, SJF Ventures, Kayne Anderson), unspecified funding in 2022 ($100M from Emerson Collective, Magnetar Capital, etc.), and larger debt commitments from Brookfield starting in 2023 ($250M + $150M + $200M). |
| Aug 2017 | Series A | Stonehenge Growth Capital (lead) | $5M | PosiGen is a solar company founded in 2011 that specializes in providing renewable energy and efficiency solutions, including rooftop solar photovoltaic panel systems, to low-to-moderate income households. The company operates across multiple states, including Connecticut, New York, Louisiana, and Florida. In August 2017, Stonehenge Growth Capital invested $5 million in PosiGen through the Invest CT program to expand operations in Connecticut and provide clean energy technology to hundreds of low-to-moderate-income households, enabling the installation of an additional 750 rooftop solar panel systems. |
| Jun 2016 | Series C | Callais Capital (lead) | $6M | - |
| Mar 2016 | Series B | Constellation Technology Ventures (lead); NewWorld Capital Group LLC (lead); CCM Energy | $20M | PosiGen is a US-based solar and energy efficiency services provider founded in 2011, specializing in residential installations that can be purchased or leased, with a focus on low-to-moderate income households in states including Louisiana, New York, Connecticut, and Florida. The company raised a $20 million Series B round on approximately March 16-17, 2016, backed by Constellation Technology Ventures (corporate venturing arm of Exelon), NewWorld Capital Group LLC, and CCM Energy. This followed prior financing including $40 million debt from Goldman Sachs' Urban Investment Group in February 2015 and a $9 million equity investment from Goldman Sachs in November 2015. The funds were intended to support further geographic expansion. PosiGen's model combines solar leasing with energy efficiency to reduce utility bills for underserved communities, aligning with initiatives like the Obama Administration's efforts to increase solar access for low-income households. The company committed to hiring 40% of employees from low-to-moderate income communities and investing over $100 million in such areas by end-2016. |
| Nov 2015 | Series A | - | $9M | - |
Who has invested in PosiGen?
15 investors have backed PosiGen across its funding rounds, including Emerson Collective, SJF Ventures, The Builders Fund, Activate Capital, Impact Engine and Constellation Technology Ventures.
Lead investors include Magnetar Capital, Emerson Collective, The Builders Fund, GAF, Stonehenge Growth Capital and 3 other investors.
PosiGen Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Apr 2021 | ||
| 2 | Lead | Dec 2020 | ||
| 2 | Participant | Apr 2021 | ||
| 2 | Lead | Dec 2020 | ||
| 1 | Participant | Mar 2016 | ||
| 1 | Lead | Aug 2017 | ||
| 1 | Participant | Jan 2022 | ||
| 1 | Lead | Apr 2019 | ||
| 1 | Participant | Apr 2021 | ||
| 1 | Lead | Jun 2016 | ||
| 1 | Lead | Jan 2022 | ||
| 1 | Lead | Mar 2016 | ||
| 1 | Participant | Dec 2020 | ||
This data is available for Pro users. Sign up to see all 15 PosiGen investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialPosiGen Competitors
PosiGen competitors include listed companies like GE Vernova, TBEA and Siemens Energy India, and private ones like Base Power, Round-the-Clock and Enpal.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $38B | $3.2B | $246B | 5.4x | ||
| Publicly listed | $15B | $2.4B | $13B | 1.4x | ||
| Private | - | - | $13B | - | ||
| Publicly listed | $811M | $158M | $12B | 10.9x | ||
| Private | - | - | $6.1B | - | ||
| Private | $1B | $24M | $2.5B | - |
PosiGen Public Comps
PosiGen is still privately-owned, but its public comps include GE Vernova, Reliance Industries, Iberdrola, Siemens Energy, Enbridge, China Yangtze Power, Constellation Energy, Quanta Services, Williams Companies and Enterprise Products.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $38B | $3.2B | 6.2x | 5.4x | 73.5x | 43.5x | |||
| $110B | $20B | 1.9x | 1.7x | 10.4x | 10.3x | |||
| $51B | $17B | 4.4x | 4.3x | 13.2x | 11.8x | |||
| $45B | $4.5B | 2.7x | 2.4x | 27.3x | 16.1x | |||
| $47B | $15B | 4.2x | 3.6x | 13.3x | 13.3x | |||
| $13B | $11B | 11.4x | 11.3x | 13.9x | 14.4x | |||
| $26B | $5B | 4.6x | 3.8x | 23.5x | 15.3x | |||
| $28B | $2.5B | 3.5x | 2.7x | 38.8x | 26.3x | |||
This data is available for Pro users. Sign up to see all PosiGen competitors and their valuation data. Start Free Trial | ||||||||
Common questions about PosiGen
| When was PosiGen founded? | PosiGen was founded in 2011. |
| Where is PosiGen headquartered? | PosiGen is headquartered in New Orleans, LA, United States. |
| Is PosiGen publicly listed? | No, PosiGen is a private, VC-backed company. |
| How much funding has PosiGen raised? | PosiGen has raised $220M across 8 funding rounds. |
| What was PosiGen's last funding round? | PosiGen's last funding round was a $100M undisclosed-stage round in January 2022, led by Magnetar Capital. |
| Who are PosiGen's investors? | PosiGen's investors include SJF Ventures, Emerson Collective, Activate Capital, The Builders Fund, CCM Energy, Stonehenge Growth Capital, Irradiant Partners, GAF, Kayne Anderson Capital Advisors, Callais Capital and 5 others. |
| Which companies are comparable to PosiGen? | Companies comparable to PosiGen include GE Vernova, TBEA, Base Power, Siemens Energy India, Round-the-Clock and Enpal. |
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