Generate (formerly Generate Capital) has announced that it has secured more than $1 billion in funding to continue to scale its renewable and sustainable infrastructure fleet
Generate has announced that it had secured more than USD 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.
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 USD 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 said that at Generate, they are working with the leading pioneers to bring about an infrastructure revolution, one that is democratised, digitised, decentralized, and decarbonised. And that 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 prioritise the undeniable economic benefits of sustainability and decarbonisation, 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,” he added.
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.