CleanCapital

The founders' diverse expertise forms the company's foundation. Thomas Byrne, the CEO, previously worked as a project finance attorney and partner at a clean energy fund, where he recognized inefficiencies in clean energy financing that could be solved with a technology-driven platform. Jon Powers, the President, brings a public policy and national security perspective, shaped by his service in the U.S. Army in Iraq and his subsequent role as Federal Chief Sustainability Officer under the Obama administration, where he saw clean energy as vital to national security interests.

Initially, CleanCapital focused on acquiring small-scale operating solar projects through an online platform designed to connect accredited investors with vetted clean energy opportunities. Over time, its strategy has evolved significantly. The firm now engages in the entire project lifecycle, including early-stage development, new construction, and the acquisition of operational assets. A major milestone was the acquisition of BQ Energy in 2022, a company specializing in developing renewable energy projects on brownfields and landfills, which added a development pipeline of over 1 GW.

CleanCapital's business model involves deploying capital from major institutional partners, such as Manulife and John Hancock, to acquire, develop, and manage a portfolio of clean energy assets. The company generates revenue through the long-term ownership and operation of these projects, which sell power to a diverse client base including businesses, schools, non-profits, and municipalities. Its investment scope covers projects ranging from 1 to 75 megawatts and has expanded into emerging markets like Alaska and Guam. By the end of 2023, the company had deployed over $1 billion in capital across more than 400 MW of projects in 26 states and a U.S. territory.