The strategic debt financing was provided by Lacuna Sustainable Investments and Javelin Capital
BURLINGTON, Vt. – Encore Renewable Energy, a leading innovator in community-scale clean energy, announced today it has closed on a $20 million senior loan provided by Lacuna Sustainable Investments and Javelin Capital. Lacuna and Javelin are both solution-based providers of strategic capital to renewable energy clients and add substantial expertise in support of Encore’s long-term objectives.
This interim debt financing retires existing debt and provides significant growth capital for expansion into new geographic markets and the advancement of innovative clean energy solutions including solar + storage, brownfield redevelopment, and dual land-use agrivoltaic initiatives.
“This infusion of capital comes at a critical time in our company’s growth trajectory and will allow us to accelerate our strategic plan and enhance our ability to deploy distributed solar and storage in our core markets and beyond,” offered Blake Sturcke, President of Encore Renewable Energy. “The energy transition is unstoppable and despite the uncertainty currently facing our industry, this commitment from investors with deep sector expertise underscores the value of our work to build the clean energy economy.”
“By partnering with Javelin to provide the Encore team with an innovative capital solution that allows for growth and flexibility, we are also supporting the company’s long-term strategic objectives,” said Brad Bauer, Co-Founder and Managing Partner of Lacuna Sustainable Investments. “We have a deep knowledge and understanding of the intricacies of the solar and storage development business and applaud Encore on its accomplishments to date and look forward to many future successes.”
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The team at Encore Renewable Energy® is proud to be certified as a B Corp, joining over 3,500 other businesses worldwide who also share a commitment to social and environmental performance, accountability and transparency.