SAN FRANCISCO--(BUSINESS WIRE)--Generate Capital, Inc. announced today it had secured more than $1 billion in funding to continue to scale its renewable, sustainable infrastructure fleet. New investors include some of the world’s leading institutions focused on infrastructure, including AustralianSuper, QIC, Railways Pension, and AP2 of Sweden. In addition, Generate announced that Richard Kauffman, former New York State Energy Czar and current Chairman of the New York State Energy Research and Development Authority (NYSERDA), has been named Chair of the Board, and Lynn Jurich, co-founder and CEO of Sunrun, has joined the Generate Board of Directors.
Generate builds, owns, operates, and finances sustainable infrastructure that delivers affordable and reliable resource solutions for companies, governments and communities. Generate currently has more than 25 technology and project development partners and serves more than 400 companies, universities, school districts, cities and non-profits across North America. Over the last five years, Generate has built more than $1 billion in sustainable infrastructure assets across the energy, waste, water and transport markets.
By partnering with leading project developers and technology companies, Generate has established market leadership in many emerging infrastructure asset classes including battery storage; community, commercial and industrial solar; energy efficiency; electric vehicles; fuel cells; wastewater treatment; distributed desalination; and organic waste management.
Scott Jacobs, co-founder and CEO of Generate – “At Generate, we are working with the leading pioneers to bring about an infrastructure revolution, one that is democratized, digitized, decentralized, and decarbonized. This transition requires an entirely different type of company committed to rebuilding the world: one that is mission-aligned with its many stakeholders, can provide flexible, efficient capital solutions to enable more projects to be built, and has the expertise and capacity to manage that infrastructure and deliver those resources -- forever -- to its customers. We are fortunate to add partners like AustralianSuper, QIC, Railways Pension and AP2, who share our vision and values and are excited to support us in scaling sustainable infrastructure solutions. As cities, municipalities and corporations increasingly prioritize the undeniable economic benefits of sustainability and decarbonization, Generate has a critical role to play in the market, and we are thrilled to have visionaries like Richard and Lynn to help guide our approach as members of our Board.”
Richard Kauffman, former energy czar, State of New York, current chairman of the New York State Energy Research and Development Authority (NYSERDA) – “Acceleration of clean energy deployment requires innovation in finance. Small projects, new technologies, multiple counterparties, customer preferences for energy as a service—these are only some of the challenges that clean energy companies need to overcome to get their solutions to market. Generate’s mission is to turn these obstacles into opportunities. With our permanent capital and long-term time horizon, we can be a new kind of partner for the pioneers who are building sustainable infrastructure.”
Lynn Jurich, CEO and co-founder, Sunrun – “Today, Sunrun has made solar financing as easy as auto financing. We recognize that customers want more affordable, reliable, and sustainable forms of energy. We also all know that solving our climate crisis involves a massive scale-up of many forms of sustainable infrastructure. I’m proud to help Generate as it pioneers new approaches to building and financing many types of sustainable infrastructure that the capital markets otherwise tend to overlook.”
AustralianSuper’s Derek Chu, senior investments director, infrastructure, and QIC’s Ross Israel, head of global infrastructure, have also joined Generate’s Board of Directors.
About Generate
Founded in 2014, Generate builds, owns, operates, and finances sustainable infrastructure to deliver affordable and reliable resource solutions for companies, governments and communities. Generate currently has more than 25 technology and project development partners and serves more than 400 companies, universities, school districts, cities and non-profits across North America. www.generatecapital.com