OAKLAND, Calif. and CHARLOTTE, N.C. and BOSTON, Jan. 11, 2021 /PRNewswire/ -- Radian Generation LLC (Radian) announced today it closed an investment from 424 Capital (424) during the last week of 2020. The investment makes 424 Capital the majority owner of Radian Generation LLC while SP Energy (USA) One LLC, a subsidiary of Plus Renewable Technologies (Plus), remains a significant minority holder. The investment in Radian will support continued growth of its renewable energy asset management services and RadianLENSTM software offerings and provide capital for expansion opportunities.
Radian provides asset management solutions and software to the renewable energy industry. Radian's offerings currently support over 18GW of solar and wind facilities with individual project sizes ranging from 30kWp to over 600MWp. Radian's comprehensive services include the desktop elements of accounting, contract management, regulatory compliance (including NERC), and performance engineering. The RadianLENSTM SaaS offering leverages industry-leading cloud computing platforms and focused business processes to enable asset managers to monitor and manage, operations, contracts, finances, and field services for their projects & portfolios.
"We have built a robust platform dedicated to providing best-in-class asset management services and software over the past 8-years and are excited to be operating under this new ownership structure with 424 and Plus," said Joe Kastner, CEO and Founder of Radian. "This partnership provides a great environment for strengthening our existing offering while expanding our product line and geographic footprint."
"424 is thrilled at the opportunity to partner with Plus in growing Radian's services and software platform. Radian is an established leader in providing third-party services and software for clean energy in North America and we look forward to working with Joe and the entire team to continue its growth trajectory," said Walter Beinecke, Partner at 424 Capital. "The partnership between Plus, 424 and Radian will accelerate Radian towards the goal of creating the leading, global, best-in-class platform for renewable energy asset management."
"Plus believes that with 424's expertise and financial support, Radian will not only consolidate its position in North America but also broaden its service offering into new sectors and markets. Both Plus and 424 have the ambition to see Radian being a clear market leader at this time of unprecedented change and growth," said Paul Cheng, CEO of Plus Renewable Technologies. "We are totally confident that this new partnership with 424 will capture new horizons for the business and create excellent opportunities for all that work with the company now and in the future."
About Radian Generation:
Radian Generation is a solar asset management services and software (RadianLENS™) provider with a strong track record, industry and technology expertise, and a comprehensive approach to solar asset management. Founded in 2013 by a team of renewable industry veterans, Radian strives to optimize asset performance for its customers: infrastructure funds, tax equity, lenders, national utilities, developers, IPPs, and O&M providers, by offering a full range of services and our SaaS platform, RadianLENS™. This comprehensive asset management offering, enabled with its industry best practices, spans all project owner needs: contract compliance, financial management, operations, monitoring, and regulatory. Radian provides services and software to over 18GW of solar and wind assets across the U.S., Canada, Australia, and the Caribbean. Our mission is to create a supportive, inclusive, and engaged environment and platform for providing best in class, technology enabled solutions to owners of renewable energy power plants with a focus on optimal plant and portfolio performance. www.radiangen.com
About 424 Capital:
424 Capital is a venture and private equity investor based in the Boston making investments across the US and offshore. 424 is primarily focused on investments in the healthcare and renewable energy space and committed to supporting companies which make a positive impact to the environment or society. 424 believes strongly in the enhanced role renewables need to play in the global energy mix and feels this is one of the most important times to be investing time and capital in the space. www.424capital.com
About Plus Renewable Technologies:
Plus Renewable Technologies, Limited is led by an experienced management team with domain expertise in infrastructure, renewable energy, capital raising, mergers and acquisitions, investment and asset management. The Company owns operating renewable assets in China, Taiwan and the U.S. and continues to evaluate and develop new projects in the United States, the United Kingdom, Italy and other Asian markets, including the Philippines, Malaysia, Vietnam, Myanmar, Taiwan, South Korea, and Sri Lanka. www.plusretech.com
CONTACT: For more information about Radian Generation please contact Camden Udwin at firstname.lastname@example.org