NewWorld Capital Group and Soltage to enter into strategic partnership to build more than 11 megawatts of solar generation assets.
New York City, March 21, 2013. Soltage, a premier North American solar power provider, today
leading institutional investor to fund the deployment of six solar power generating stations to be
constructed in Connecticut and Massachusetts. The partners will commit at least $30.5 million of
funding, with all projects slated to come online by the end of this year.
"Our partnership combines crucial capital financing with development expertise, a quality set of clients,
and the progressive support for clean power generation from the states of Connecticut and
Massachusetts," said Jesse Grossman, Soltage co-founder & CEO. "We are thrilled to receive such a
resounding endorsement from leading investors in our industry. In particular, NewWorld Capital is
widely recognized for their depth of investment and operating experience and their leadership in
Everett Smith, a founding partner of NewWorld Capital commented, "We are excited about making this
strategic investment with Soltage - to back the leading developer in the region and work alongside such
a highly talented team. We share a common vision of commercial solar infrastructure as a business
opportunity that transforms our energy future by reducing the cost of electricity, increasing our nation's
energy security, improving our environmental stewardship, and providing an immediate and positive
impact on quality job creation in our region."
NewWorld Capital Group will make the investment through their infrastructure investment initiative,
NewWorld Environmental Infrastructure, L.P, in partnership with the CleanTech Alliance Fund, managed
by North Sky Capital of Minneapolis, Minn.
Soltage specializes in the development, design, ownership, finance and operation of solar power plants
for large commercial customers. Since its founding, Soltage has successfully developed 10 solar power
generating projects representing more than 14 megawatts (MW) of distributed generating capacity.
Soltage is backed by a group of investors, including independent energy company Tenaska, ranked by
Forbes as the 35th largest privately held U.S. company based on 2011 revenues, with approximately
11,000 MW of power generating assets under management.
Soltage, LLC is a full service renewable energy company that develops, finances, and operates solar
energy stations serving client facilities across the U.S. Using proven technology and distributed
generation facilities, Soltage supplies a significant portion of client long-term energy demand at a cost
below retail rates. Soltage has an office in Hartford, Conn. and is headquartered in Jersey City, N.J. For
more information visit Soltage at www.soltage.com.
About NewWorld Capital Group
NewWorld Environmental Infrastructure, L.P. was established in collaboration with North Sky Capital
and provides project equity for clean infrastructure assets and structured equity to companies engaged
in deploying clean infrastructure.
NewWorld Capital Group is a private equity firm focused on investing in the rapidly growing
environmental opportunities sector, principally in the United States and Canada. NewWorld makes
growth capital and control investments in growing mid-sized and smaller companies in energy efficiency,
clean energy, water reclamation and reuse, waste-to-value, and related environmental services. The
Firm does not accept technology risk and invests only when a productive relationship can be formed
with company management. NewWorld was founded by a group of experienced investors and business
builders from General Electric, McKinsey, and several private equity firms. (www.newworldcapital.net)