Koch Strategic Platforms (KSP), a subsidiary of Koch Investments Group, has made a $150 million preferred stock investment in GameChange Solar Holdings Corp., a provider of racking and tracker systems for utility-scale solar power plants.

Founded in 2012, GameChange Solar has grown from a regional provider of fixed-tilt racking systems to a global provider of comprehensive utility- and commercial-scale solar mounting solutions, trackers and software to renewable developers and engineering, procurement and construction (EPC) firms.

“We are excited to be able to launch this next phase of our growth with the validation of a major investor in the energy transformation space,” says Mark Gibbens, GameChange’s CFO. “Koch offers not just the capital to grow, but the opportunity to mutually leverage the capabilities of each organization.”

Most recently, KSP has announced investments in the battery value chain and new sources of energy storage and infrastructure.

“KSP is excited to invest in GameChange Solar as they bring their advantaged solar energy solutions to market,” states Jeremy Bezdek, managing director of Koch Strategic Platforms. “We believe these offerings will continue to positively disrupt the industry and look forward to helping accelerate that growth in the future.”

The $150 million preferred stock investment which, if converted, would represent a minority stake in GameChange Solar. The investment follows extensive due diligence into GameChange’s advanced solar mounting solutions, tracking and software, historical performance, and project pipeline. The parties continue to explore strategic partnerships in key areas of focus, supporting additional growth opportunities for GameChange Solar and Koch.

In addition to the new capital investment, GameChange, along with several Koch Industries subsidiaries, is committed to working collaboratively to explore strategic synergies across companies, including KBX, which provides global transportation, logistics and technology solutions through high-tech tools and services, as well as Koch Engineered Solutions (KES).

Source link