\n<\/p>\n
HONG KONG SAR –\u00a0Media \u00a0<\/p>\n Radian \u00a0<\/p>\n Under \u00a0<\/p>\n 424 is \u00a0<\/p>\n Plus \u00a0<\/p>\n Paul “We \u00a0<\/p>\n “We
\nOutReach<\/a>\u00a0–\u00a012 January 2021 –\u00a0Plus Renewable Technologies Limited<\/a><\/b>
\n(“Plus Renewable<\/b>“) today announced that its subsidiary, SP
\nEnergy (USA) One LLC (“SP Energy<\/b>“), the parent company of Radian
\nGeneration LLC (“Radian<\/b>“) has entered into a merger agreement with a subsidiary
\nof 424 Capital (“424<\/b>“). The business will operate under the name of
\nRadian Generation LLC. This partnership will support the continued growth of
\nRadian’s renewable energy asset management services and RadianLENSTM<\/sup>
\nsoftware offerings and provide capital for expansion opportunities.<\/p>\n
\nprovides asset management solutions and software to the renewable energy
\nindustry.\u00a0 Radian’s offerings currently
\nsupport over 18GW of solar and wind facilities with individual project sizes
\nranging from 30kWp to over 600MWp.\u00a0Radian’s comprehensive services includes the desktop elements of
\naccounting, contract management, regulatory compliance (including NERC), and
\nperformance engineering. The RadianLENSTM<\/sup> asset management software
\nleverages industry-leading cloud computing platforms and focused business
\nprocesses to enable asset managers to monitor and manage, operations,
\ncontracts, finances, and field services for their projects & portfolios.<\/p>\n
\nthe terms of the merger agreement, Radian will be owned 60% by 424 and SP
\nEnergy will own the remaining 40%. <\/p>\n
\na private equity and venture capital firm based out of Boston, Massachusetts.
\n424 has a 20-year track record investing in and fostering growth companies in
\ntechnology enabled service solutions across different sectors with a recent
\nfocus on healthcare and renewable energy and are committed to supporting
\ncompanies which make a positive impact to the environment or society and
\nconsider the investment in Radian consistent with their mission and values.
\n424’s investment will enable Radian to consolidate its position in North
\nAmerica and further broaden its service offering into new sectors and markets.<\/p>\n
\nRenewable and 424 will provide their industry expertise to help grow the
\nbusiness even further with the aim of becoming a global market leader in the third
\nparty asset management services while also developing Radian’s flagship renewable
\nenergy management software solution RadianLens\u2122 to become the gold standard of
\nasset management platforms. <\/p>\n
\nCheng, CEO of Plus Renewable remarked:\u00a0“By
\ncreating a strong partnership with 424 to bring together our respective
\nexpertise, we are expanding on an emerging and increasingly important sector
\nwhere Radian has already established a dominant position in North America. We
\nsincerely believe in Radian’s future and we are totally confident that with this
\nnew partnership under Joe Kastner’s leadership as CEO of Radian, Radian will continue
\nto reach new milestones for the business.” <\/p>\n
\nstrongly support Radian’s mission and are seeking to do our part to support and
\nenhance the mission, not to change it. The partnership between Plus
\nRenewable, 424 and Radian will accelerate Radian towards the goal of creating
\nthe leading, global, best-in-class platform for renewable energy asset
\nmanagement. We are strong believers in the enhanced role renewables need to
\nplay in the global energy mix and believe this is one of the most important
\ntimes to be investing our time and capital in this space. We are certain
\nthat together we can make real impact,” said Walter Beinecke, Partner of 424.<\/p>\n
\nhave built a robust platform dedicated to providing best-in-class asset
\nmanagement services and software over the past 8-years and are excited to be
\noperating under this new ownership structure with 424 and Plus Renewable,” said
\nJoe Kastner, CEO and Founder of Radian. “This partnership provides a great
\nenvironment for strengthening our existing offering while expanding our product
\nand geographic footprint.”<\/p>\n