Media-OutReach Newswire
 and Mr Timo Kratzer, Head of Lens Product Development at ZEISS Vision Care (back row, right), Mr Kelvin Wong, Director of Knowledge Transfer and Entrepreneurship of PolyU (front row, left) and Dr Benjamin Viering, Chief Technology Officer and Chief Operating Officer of ZEISS Vision Care (front row, right) sign)
OP-ED: Party personnel work requires thorough checks
1.
HONG KONG SAR - MediaOutReach - 12 January 2021 - Plus Renewable Technologies Limited("Plus Renewable") today announced that its subsidiary, SPEnergy (USA) One LLC ("SP Energy"), the parent company of RadianGeneration LLC ("Radian") has entered into a merger agreement with a subsidiaryof 424 Capital ("424"). The business will operate under the name ofRadian Generation LLC. This partnership will support the continued growth ofRadian's renewable energy asset management services and RadianLENSTMsoftware offerings and provide capital for expansion opportunities.
Radianprovides asset management solutions and software to the renewable energyindustry. Radian's offerings currentlysupport over 18GW of solar and wind facilities with individual project sizesranging from 30kWp to over 600MWp. Radian's comprehensive services includes the desktop elements ofaccounting, contract management, regulatory compliance (including NERC), andperformance engineering. The RadianLENSTM asset management softwareleverages industry-leading cloud computing platforms and focused businessprocesses to enable asset managers to monitor and manage, operations,contracts, finances, and field services for their projects & portfolios.
Underthe terms of the merger agreement, Radian will be owned 60% by 424 and SPEnergy will own the remaining 40%.
424 isa private equity and venture capital firm based out of Boston, Massachusetts.424 has a 20-year track record investing in and fostering growth companies intechnology enabled service solutions across different sectors with a recentfocus on healthcare and renewable energy and are committed to supportingcompanies which make a positive impact to the environment or society andconsider the investment in Radian consistent with their mission and values.424's investment will enable Radian to consolidate its position in NorthAmerica and further broaden its service offering into new sectors and markets.
PlusRenewable and 424 will provide their industry expertise to help grow thebusiness even further with the aim of becoming a global market leader in the thirdparty asset management services while also developing Radian's flagship renewableenergy management software solution RadianLens™ to become the gold standard ofasset management platforms.
PaulCheng, CEO of Plus Renewable remarked: "Bycreating a strong partnership with 424 to bring together our respectiveexpertise, we are expanding on an emerging and increasingly important sectorwhere Radian has already established a dominant position in North America. Wesincerely believe in Radian's future and we are totally confident that with thisnew partnership under Joe Kastner's leadership as CEO of Radian, Radian will continueto reach new milestones for the business."
"Westrongly support Radian's mission and are seeking to do our part to support andenhance the mission, not to change it. The partnership between PlusRenewable, 424 and Radian will accelerate Radian towards the goal of creatingthe leading, global, best-in-class platform for renewable energy assetmanagement. We are strong believers in the enhanced role renewables need toplay in the global energy mix and believe this is one of the most importanttimes to be investing our time and capital in this space. We are certainthat together we can make real impact," said Walter Beinecke, Partner of 424.
"Wehave built a robust platform dedicated to providing best-in-class assetmanagement services and software over the past 8-years and are excited to beoperating under this new ownership structure with 424 and Plus Renewable," saidJoe Kastner, CEO and Founder of Radian. "This partnership provides a greatenvironment for strengthening our existing offering while expanding our productand geographic footprint."
About the Companies:
Plus Renewable Technologies Limited is led by an experienced managementteam with domain expertise in infrastructure, renewable energy, capitalraising, mergers and acquisitions, investment and asset management. The Company ownsoperating renewable assets in China, Taiwan and the U.S. and continues toevaluate 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.
424 Capital is a growthcapital partner that makes control equity investments in lower middle marketcompanies within B2B Tech-Enabled Services. 424 Capital works in partnershipwith founders and management teams to accelerate and scale for long-termgrowth. Focusing primarily on investments in North America, we invest incompanies that are profitable, growing, and that align with our values ofhonesty, integrity and impact. For more information about 424 Capital,please visit 424capital.com.
RadianGeneration is a solar asset management services and software(RadianLENSTM) provider with a strong track record, industry andtechnology expertise, and a comprehensive approach to solar asset management.Founded in 2013 by a team of renewable industry veterans, Radian optimizes theperformance of our customers: infrastructure funds, national utilities,developers, IPPs, and O&M providers, by offering a full range of servicesand our SAAS platform, RadianLENSTM. This comprehensive assetmanagement offering, enabled with Radian's industry best practices, spans allproject owner needs: contract compliance, financial management, operations,monitoring, and regulatory. Radian manages or provides services toapproximately 18 GW of solar and wind assets across the U.S., Canada, and theCaribbean.
