NEW YORK & CHARLOTTE, N.C.–(BUSINESS WIRE)–Sunlight Financial Holdings Inc. (“Sunlight Financial”, “Sunlight” or the “Company”), a technology-enabled point-of-sale finance company, today announced that it has successfully completed its Chapter 11 restructuring process and emerges as a stronger company with a clear vision for the future. Sunlight’s acquisition by a consortium of established investors in the solar energy industry, including an affiliate of Greenbacker Capital Management, Sunstone Credit, IGS Ventures, and others (collectively, “ED Umbrella Holdings, LLC” or “the Consortium”), as well as its secured lender, Cross River Bank (“CRB”), is also now complete. The Consortium and CRB now own shares of capital stock representing 100% of the ownership of the Company. “As long-term investors in the solar energy space, the members of the Consortium understand the value and impact Sunlight brings to our industry,” said Benjamin Baker, Managing Director of Greenbacker. “We’re excited for the future of Sunlight and look forward to expanding the company’s work with its installer partners to ensure they can secure quick and efficient loans for their solar and home improvement customers.”
“I am proud of everything Sunlight has accomplished so far and believe wholeheartedly in its future,” said Josh Goldberg, Sunstone Credit Co-Founder and CEO. “And, on a personal note, I’m thrilled to be back with the Company and appreciate the opportunity to help foster its growth in this new era.”
Sunstone Credit, one of the members of the Consortium, was co-founded by Josh Goldberg and Wilson Chang, who also were among the co-founders of Sunlight in 2014. In addition to the new ownership structure, the emergence allowed Sunlight to recapitalize. With the new capital, the Company will soon announce several initiatives to help installers sell more solar, including a price reduction on higher coupon loans; faster loan review and approval times; more time for homeowners to make their first loan payments; and a new Sunlight Rewards campaign for sales representatives. Details of these initiatives will be released in the coming weeks and months. Additional Information
Additional information is available on Sunlight’s restructuring website at www.omniagentsolutions.com/sunlight . Weil, Gotshal & Manges LLP, Guggenheim Securities, LLC, and Alvarez & Marsal North America, LLC, advised Sunlight in connection with its chapter 11 cases. About Sunlight Financial
Sunlight Financial is a technology-enabled point-of-sale finance company. Sunlight partners with contractors nationwide to provide homeowners with financing for the installation of residential solar systems and other home improvements. Sunlight’s best-in-class technology and deep credit expertise simplify and streamline consumer finance, ensuring a fast and frictionless process for both contractors and homeowners. For more information, visit www.sunlightfinancial.com . Contacts

Sunlight Financial Emerges from Restructuring Process

NEW YORK & CHARLOTTE, N.C.--(BUSINESS WIRE)--Sunlight Financial Holdings Inc. (“Sunlight Financial”, “Sunlight” or the “Company”), a technology-enabled point-of-sale finance company, today announced that it has successfully completed its Chapter 11 restructuring process and emerges as a stronger company with a clear vision for the future. Sunlight’s acquisition by a consortium of established investors in the solar energy industry, including an affiliate of Greenbacker Capital Management, Sunsto

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The electric vehicle fleet financing facility with Greenbacker Capital Management will be the first-in-kind in North America and support the deployment of hundreds of commercial EVs and charging stations
SAN FRANCISCO, Nov. 16, 2023 /PRNewswire/ -- Revolv , a leading full-service provider of electric commercial fleets, today announced it has raised $25 million in equity project financing to fund the deployment of fleet electrification projects in the United States. Made possible by a commitment from Greenbacker Capital Management ("GCM" or "Greenbacker") through an affiliated investment vehicle focused on sustainable infrastructure, the new Revolv facility will be the first dedicated non-recourse financing facility for commercial EVs and charging stations in North America. Revolv’s first-in-kind finance facility for EV fleets and infrastructure changes the national investment landscape for EV fleet financing. The new facility will enable Revolv to finance long-term contracts with its corporate customers while significantly scaling national EV fleet adoption by funding dozens of new fleet decarbonization projects within the coming year. Revolv enables businesses to decarbonize their fleets by meeting customers wherever they operate, providing them with a single partner solution that encompasses electric vehicles and EV charging infrastructure owned, implemented, and maintained by Revolv – all supported by the company's post-implementation fleet optimization, analytics, and insights. "Greenbacker's commitment to Revolv signifies the proven benefits of our full-service fleet solutions model, as well as the growing desire of corporates looking to expedite the adoption of their electric fleets," said Revolv CEO Scott Davidson. "Revolv's new non-recourse finance facility, which we hope to be the first of many, will enable us to continue our mission of becoming the leading national provider of commercial electric fleets," said Trevor Hill, Director of Capital Markets for Revolv. The transportation industry is one of America's heaviest polluters, accounting for nearly 29 percent of all greenhouse gas emissions. Government policies, public opinion, and the notable environmental and economic benefits of electrification are quickly incentivizing corporates to decarbonize their fleets. "Greenbacker's expanded partnership with Revolv reaffirms our commitment to accelerating the deployment of sustainable infrastructure through innovative financing," said Elle Brunsdale, Assistant Vice President on Greenbacker's infrastructure investment team. "We look forward to collaborating with Revolv to help companies across the country decarbonize their fleets." The financing announcement comes on the heels of Revolv's recent Series A announcement, which set the company on course to expand its operations to support the growing demand for decarbonized light, medium and heavy-duty commercial fleets. Revolv's Series A financing was led by another GCM-affiliated fund , which focuses on growth equity investments in sustainable infrastructure development platforms. "We are proud to assist our portfolio companies in raising innovative asset-level financings. This type of capital markets activity is a critical component of the value we add," said Quinn Pasloske, Principal for Greenbacker's growth equity strategy. "We are especially pleased to collaborate once again with Greenbacker's affiliated infrastructure vehicle." Allen & Overy served as legal advisor to Revolv on the transaction. Sheppard Mullin served as legal advisor to Greenbacker on the transaction. About Revolv
Revolv is helping commercial fleets move more quickly and confidently toward zero-emission solutions. A complete single-partner solution to deploy, charge, and integrate electric vehicles seamlessly into operations. Our mission is to simplify EV adoption for fleets by reimagining how they buy and use transportation. We are empowering fleets to accelerate zero-emission adoption without losing focus on their core business or operations. For more information, please visit www.revolv.us . About Greenbacker
Greenbacker Capital Management LLC is an SEC-registered investment adviser that provides advisory and oversight services related to project development, acquisition, and operations in the renewable energy, energy efficiency, and sustainability industries. For more information, please visit https://greenbackercapital.com . Media Contacts

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Revolv Secures $25M in Project Financing for EV Fleets

Revolv Secures $25MM in Project Financing for EV Fleets
November 16, 2023, 07:11 AM
Revolv , a full-service provider of electric commercial fleets, announced it has raised $25 million in equity project financing to fund the deployment of fleet electrification projects in the United States. Made possible by a commitment from Greenbacker Capital Management through an affiliated investment vehicle focused on sustainable infrastructure, the new Revolv facility will be the first dedicated non-recourse financing facility for commercial EVs and charging stations in North America. The new facility will enable Revolv to finance long-term contracts with its corporate customers while significantly scaling national EV fleet adoption by funding dozens of new fleet decarbonization projects within the coming year. Revolv enables businesses to decarbonize their fleets by meeting customers wherever they operate, providing them with a single partner solution that encompasses electric vehicles and EV charging infrastructure owned, implemented, and maintained by Revolv – all supported by the company's post-implementation fleet optimization, analytics, and insights. "Greenbacker's commitment to Revolv signifies the proven benefits of our full-service fleet solutions model, as well as the growing desire of corporates looking to expedite the adoption of their electric fleets," said Revolv CEO Scott Davidson. "Revolv's new non-recourse finance facility, which we hope to be the first of many, will enable us to continue our mission of becoming the leading national provider of commercial electric fleets," said Trevor Hill, Director of Capital Markets for Revolv. The transportation industry is one of America's heaviest polluters, accounting for nearly 29 percent of all greenhouse gas emissions. Government policies, public opinion, and the notable environmental and economic benefits of electrification are quickly incentivizing corporates to decarbonize their fleets. "Greenbacker's expanded partnership with Revolv reaffirms our commitment to accelerating the deployment of sustainable infrastructure through innovative financing," said Elle Brunsdale, Assistant Vice President on Greenbacker's infrastructure investment team. "We look forward to collaborating with Revolv to help companies across the country decarbonize their fleets." The financing announcement comes on the heels of Revolv's recent Series A announcement, which set the company on course to expand its operations to support the growing demand for decarbonized light, medium and heavy-duty commercial fleets. Revolv's Series A financing was led by another GCM-affiliated fund, which focuses on growth equity investments in sustainable infrastructure development platforms. "We are proud to assist our portfolio companies in raising innovative asset-level financings. This type of capital markets activity is a critical component of the value we add," said Quinn Pasloske, Principal for Greenbacker's growth equity strategy. "We are especially pleased to collaborate once again with Greenbacker's affiliated infrastructure vehicle." Allen & Overy served as legal advisor to Revolv on the transaction. Sheppard Mullin served as legal advisor to Greenbacker on the transaction.

Revolv Secures $25MM in Project Financing for EV Fleets

SOLARCYCLE is an environmental services company. It provides solar asset owners with an eco-friendly process for retiring solar systems and repurposing solar panels. It was founded in 2022 and is based in Odessa, Texas.

SOLARCYCLE

The partnership will supply SOLARCYCLE with a volume of panels to help scale its operations and will also provide Greenbacker Renewable Energy with a secure recycling contract .

Greenbacker, SOLARCYCLE Enter Partnership for Solar Panel Recycling

Acelerex develops a single Digital Grid software platform, which integrates grid analytics and grid controls. Its product REX provides a solution to integrating renewables, energy storage, and electric vehicles into the power grid. The company also provides clean energy and storage advisory services to governments, developers, utilities, and clean energy investment funds. Acelerex was founded in 2017 and is based in Cambridge, Massachusetts.

Acelerex

Meta (NASDAQ: META) is a technology company focused on building platforms and tools that facilitate social connections and business growth. The company's main offerings include social networking applications and immersive technologies such as augmented and virtual reality. It primarily serves the social technology industry. Meta was formerly known as Facebook. It was founded in 2004 and is based in Menlo Park, California.

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Greenbacker Capital is a green energy investment company operating in the renewable energy and sustainable infrastructure sectors. The company's main services include the acquisition, ownership, and operation of income-producing clean energy infrastructure projects, such as solar energy, wind power, and energy storage. These projects sell power under long-term contracts to various entities including utilities, municipalities, and corporations. It was founded in 2010 and is based in New York, New York.

Name	Work History	Title	Status
David Sher	ElephantX, and Bear Stearns	Chief Executive Officer	Current
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