Energetic Capital’s innovative insurance product addresses critical gaps in climate-focused risk management, advancing New York State’s clean energy goals.
BOSTON–(BUSINESS WIRE)–Energetic Capital is honored to announce its recognition as one of the winners of the InnSure Innovation Prize, a $5 million program designed to catalyze groundbreaking insurance products for the energy transition. Supported by the New York State Energy Research and Development Authority (NYSERDA) and managed by InnSure, the prize highlights Energetic Capital’s success in driving scalable insurance solutions to unlock clean energy deployment.
Energetic Capital’s award-winning proposal focuses on mitigating credit and financing challenges faced by renewable energy projects, accelerating the adoption of clean energy technologies in New York State and beyond.
“This award represents a pivotal moment for Energetic Capital as we continue to innovate in support of the energy transition,” said Jeff McAulay, CEO. “Our solutions bridge critical gaps in the insurance market, empowering developers and financiers to bring transformative projects to life while ensuring resilience and scalability.”
Energetic Capital has enabled $800 million in renewable energy projects across 1,500 sites in 46 states, reducing carbon emissions by over 114,700 metric tons. With this recognition, the company will expand its impact further, leveraging resources and data access provided through the prize to scale its insurance products to benefit the New York market.
The InnSure Innovation Prize is part of a broader initiative to meet New York’s ambitious decarbonization goals, including an 85% reduction in greenhouse gas emissions by 2050.
NOTE: This Press Release does not constitute and is not intended by Energetic Capital or any of the entities mentioned in this release to constitute a solicitation for any insurance business.
About Energetic Capital (www.energeticcapital.com)
Energetic Capital is a specialty financing company with a novel, data-driven approach to develop new risk management products to unlock investment in the renewable energy industry. Our first product, EneRate Credit Cover®, unlocks renewable energy project financing for unrated and below investment grade counter parties by covering counterparty credit risk. In 2023, Energetic added lending capabilities in order to provide more solutions for its customers.
Headquartered in Boston, Energetic Capital was awarded a SunShot Prize from the US Department of Energy in 2017 and has raised $15M in funding to date from equity backers and grants.. EneRate Credit Cover® and other insurance policies are issued by RE3 Energetic Insurance Solutions, LLC, or SiKey Insurance Services, LLC in New York, wholly-owned subsidiaries of Energetic Insurance, Inc. d/b/a Energetic Capital. Energetic Capital complies with all state-mandated regulations for surplus line insurance brokers and RE3 Energetic Insurance Solutions, LLC is licensed as a surplus lines broker in Massachusetts with License #: 2053916.
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