To provide us with the initial capital required to activate our strategy, we raised $5MM through the sale of a minority equity stake in the company to Stonehenge Capital Company (Stonehenge). Stonehenge is a nationally recognized specialty finance company with expertise in private equity, tax credit finance, and structured finance – a perfect fit for Verogy’s growth ambitions.
Additionally, Verogy recently sold a minority stake in our business in May 2022 to CarVal Investors LP, a Minneapolis-based global alternative asset manager with approximately $14 billion in assets under management. Enough capital has been provided to develop and fund 500 MWs worth of projects.