Teaneck, NJ-based private equity firm HUDSON CLEAN ENERGy said Monday that it has secured a 90 million credit facility for its flagship fund. MOELIS & COMPANY helped arranged the follow-on funding. PRESS RELEASE TEANECK, N.J.-(BUSINESS WIRE)-Hudson Clean Energy ("Hudson") announced today that it has closed a 90 million credit facility for its flagship fund. The follow-on financing, underwritten by an existing limited partner, will be used to support select Hudson portfolio companies as each enters a new phase of development. Moelis Silicor Materials, Inc., the leading manufacturer of high-quality solar silicon, to assist in the financial close of its first large-scale production facility in Iceland; SoloPower Systems, Inc., a company specializing in the design, manufacture and deployment of CIGS flexible thin-film solar modules, to accelerate growth and strengthen operations at its manufacturing plant in Portland, Oregon. "From major market expansions to building world-class new facilities, we have seen tremendous progress across these companies and are confident each will thrive in the coming years," said Neil Auerbach, CEO of Hudson. "The continued support our partners have shown for clean energy innovators like Element Power, Silicor Materials and SoloPower is a testament to Hudson's track record of building tomorrow's industry leaders." "We believe that our commitment to these three portfolio companies is bearing fruit, as each organization is exploiting profitable opportunities that merit the deployment of expansion capital," said John Cavalier, Hudson's Chairman. "The challenges each company successfully overcame have only made them stronger competitors in their respective markets." ABOUT HUDSON CLEAN ENERGYHudson Clean Energy is a leading private equity and infrastructure firm based in Teaneck, NJ making privately negotiated investments in the dynamic and high-growth clean energy industry. Global in scope, Hudson is dedicated to investing exclusively in renewable power, alternative fuels and energy smart technologies, in sectors that include wind and solar energy, biofuels, biomass, geothermal energy, energy efficiency and storage. Hudson typically invests in high-growth, asset-based, capital-intensive segments of the clean energy value chain with minimal technology development risk, primarily in control and shared-control positions. Since 2007, Hudson has amassed a global clean energy investment portfolio in its flagship fund, and established a solar infrastructure program in 2013. Hudson is committing up to 100 million through that infrastructure program to support the expansion of the residential solar market across the U.S., in partnership with Astrum Solar. Further information about Hudson can be found at www.HudsonCEP.com.
