Innovative Power Generation for the Energy Transition

SOLAR | BIOMASS | WIND | HYDROGEN | FUEL CELL | STORAGE

 

Innovative Power Generation for the Energy Transition

SOLAR | BIOMASS | WIND | HYDROGEN | FUEL CELL | STORAGE

Captona is a North America-focused investment company dedicated to the Energy Transition and Decarbonization.

 

Innovative Power Generation for the Energy Transition

SOLAR | BIOMASS | WIND | HYDROGEN | FUEL CELL| STORAGE

Captona is a North America-focused investment company dedicated to the Energy Transition and Decarbonization.

 

Innovative Power Generation for the Energy Transition

SOLAR | BIOMASS | WIND | HYDROGEN | FUEL CELL| STORAGE

Captona is a North America-focused investment company dedicated to the Energy Transition and Decarbonization.

 

Innovative Power Generation for the Energy Transition

SOLAR | BIOMASS | WIND | HYDROGEN | FUEL CELL| STORAGE

Captona is a North America-focused investment company dedicated to the Energy Transition and Decarbonization.

 

Innovative Power Generation for the Energy Transition

SOLAR | BIOMASS | WIND | HYDROGEN | FUEL CELL| STORAGE

Captona is a North America-focused investment company dedicated to the Energy Transition and Decarbonization.

Business Overview

Captona is a North America-focused investment company dedicated to the Energy Transition and Decarbonization. Captona invests in late stage mid-market Clean & Renewable Energy projects across North America with a focus on Wind, Solar, Fuel Cell, Renewable Natural Gas, and Storage assets.  The team differentiates itself through its unique strategies like repowering and drastically improving aging Solar and Wind farms, while preserving land.

Since inception, the Captona team, through its impact and ESG approach, has deployed under $1 billion of equity and debt capital to construct, acquire, and operate renewable and clean energy infrastructure assets across several projects throughout North America.

At Captona, our finger is always on the pulse of the power industry. As investors, developers, and operators in the energy sector, Captona possesses the capabilities and resources to pursue the diverse mix of generation assets necessary to best serve the demands of an ever-changing energy landscape.

Our integrated, multi-disciplinary team allows us to successfully address the needs of our customers and the communities we operate in as well as create significant value for our investors.

SOLAR

Utility-scale and C&I PV

BIOMASS

Conventional and Gasification Technologies

WIND

Utility-scale Onshore Wind

HYDROGEN

Blue and Green Hydrogen Technologies

FUEL CELL

Fuel Cell Technologies

STORAGE

Battery Storage Technologies

About Us

We own, operate, and co-develop quality energy infrastructure assets.

Captona was founded in 2015 to actively participate in the energy transition, which is the path toward transforming the global energy sector from fossil-based to zero-carbon. It includes the rapid growth of renewable energy, storage, and capacity management. To make this goal a reality, we have assembled a team with deep sector understanding, internal technical capabilities, and investment know-how across multiple technologies.

The Captona team brings extensive development, construction, operations, acquisitions, and financing expertise to its investments

We are passionate about our sector. We are entrepreneurial in culture. We work tirelessly for our investors, our people, and our environment.

Number of Projects

24
Sites

Pipeline Opportunities

+400
MW

Geographies

North
America

Core Team

Izzet Bensusan

Managing Partner & Founder

Bio

Izzet Bensusan is a Managing Partner & Founder of Captona. He brings several years of expertise in investing, transacting and managing power assets in the emerging sectors of Wind, Solar, Hydro, Biomass, Storage and other new energy sectors.

At Captona, he has built a strong team with deep sector understanding, internal technical and asset management capabilities, and investment expertise across multiple technologies. This integrated, multi-disciplinary approach has allowed Captona to be a more effective operator and selective investor of development and operating-stage assets in the power generation and energy infrastructure sectors.

Prior to Captona, he founded Karbone, an award-winning financial services company focused on renewable and traditional energy markets. Since inception over a decade ago, Karbone has serviced utilities, energy developers, institutional investors, and investment firms via its Banking Capital Advisory, Brokerage and Research divisions.

He holds an MBA from Columbia University and a BA/MA from Brandeis University.

Roshni Mali

Managing Partner

Bio

Roshni Mali is a Managing Partner of Captona, where she supports the development of investment opportunities and leads the acquisition process. Roshni is also responsible for the team’s asset management, strategy, and market analysis of Captona’s portfolio.

Roshni has 5+ years of experience in the energy sector, where she interfaced with investors, developers and counsel to successfully execute on over 20 transactions. Roshni has managed close to $400MM in equity, tax equity, construction and term debt closings. Prior to Captona, she worked on Karbone’s Capital Advisory team underwriting a range of power projects for potential investors.

She holds an MS from Columbia University, and a BSc from McGill University.

Greg Owens

Director

Bio

Greg Owens is Captona’s lead originator, and he is responsible for sourcing high quality, diversified projects through his long-term relationships in the industry.

Greg has 8+ years in the energy industry with a focus on energy-transition related transactions. Prior to Captona, Greg led origination and execution activities as Vice President of Karbone Capital Markets for 5 years where he sourced and structured more than $400MM in tax equity and ran numerous buy/sell side mandates across technologies on behalf of notable industry participants.

He holds an MBA from Columbia Business School and received his BA from the College of the Holy Cross.

Lucas May

Senior Associate

Bio

Lucas is a Senior Associate at Captona where he is responsible for principal investing and structuring of the Captona portfolio. His primary responsibilities include evaluation, and structuring of investment transactions.

Lucas’ experience is concentrated around structured finance and M&A within the renewable energy industry. Previously, he was an Associate at Karbone Capital Markets, a renewable energy focused investment bank. Prior to Karbone, he worked on the project finance and M&A teams at AES and Blue Sky Utility.

Lucas received a BA in Business and a BA in Spanish from the University of Oregon.

Mert Mizrahi

Senior Associate

Bio

Mert is a Senior Associate at Captona where he is leads the evaluation and structuring of investment transactions. He has over 5 years of experience across various M&A and project finance transactions in renewable energy and infrastructure space. Prior to Captona, Mert worked as an Associate in Raiffeisen Investment, the investment banking arm of Raiffeisen Bank International, where he focused on energy and infrastructure deal advisory.

Mert holds a BS in International Management from the University of Warwick and has spent a year at Cornell University during his studies.

Matt Schweizer

Senior Investment Analyst

Bio

Matt is a Senior Analyst at Captona. He supports the financial evaluation and structuring of investment transactions. His experience is in financial analysis and acquisitions within the renewable energy industry.  Matt also oversees the on-boarding of investments in to our O&M platform. Prior to joining Captona, he was a financial analyst at Soltage, a solar developer and owner/operator, where he focused on the evaluation and structuring of solar and storage project transactions.

Matthew holds a BS in Financial Management and Accounting from Clemson University.

Matt Singley

Senior O&M Manager

Bio

Matt Singley is a Site Engineer at Captona. He is responsible for effective power plant monitoring and performance, operations and maintenance, engineering and reporting. Matt has a deep technical understanding of renewable energy science and technologies. With over 5 years of experience in the PV sector, Matt has led projects all the way from design phase to construction and commissioning.

He holds an MS in Energy Engineering from UMass Lowell and has a BS in Environmental Science from Northeastern University.

Evelyn Wang

Senior Controller

Bio

Evelyn is a Senior Controller at Captona with over 9 years of accounting and tax experience in both public and private accounting. Prior to Captona, Evelyn was a Senior Accountant at Cornick, Garber & Sandler, LLP where she focused on financial accounting, auditing, and taxation.

Evelyn earned her B.A in Economics at the University of Maryland and holds an active Certified Public Accountant license.

Boris Bernstein

Chief Financial Officer

Bio

Boris Bernstein is the Chief Financial Officer at Captona. Boris has over 12 years of accounting, tax, and finance experience in the US and Canada specializing in the asset management, renewable energy, technology, and mining sectors.

Boris has held senior accounting and finance leadership roles within the energy sector for over 5 years. He built, transformed, and managed finance departments using technology investments and refinement of internal controls and processes across multiple functional areas. He worked on cross border M&A transactions, capital investment analysis in energy projects, and US and foreign tax planning and financial reporting under US GAAP, IFRS, and Luxembourg GAAP.

He is a Certified Public Accountant and holds a Bachelor of Accounting and Financial Management and a Graduate Diploma in Accounting from the University of Waterloo.

Serdar Soytok

Engineering Advisory

Bio

Mr. Soytok leads the consulting of engineering and development efforts at Captona, through Photon Renewables. He has over 15 years of experience in the energy industry as an engineer and asset manager for Vestas, Koc Holding, Zorlu Energy and Abakus Solar AG. He has developed and/or built over 1 GW of wind power plants and 300 MW of solar power plants. He has managed projects valued over $1.5 BN. He holds a BSc in Mechanical Engineering from Gazi University and an MBA from Galatasaray University.

John Marciano

Board Member

Bio

John Marciano is a household name in U.S. project finance. He is a lawyer that focuses his practice on buying, selling and financing energy and infrastructure projects. This includes capital-raising and deployment strategies for solar, wind, geothermal, fuel cell, biomass, hydrogen and RNG projects (as well as all manner of energy storage projects). He is the editor of the only best-selling renewable power tax credit reference guide, which is a must-have resource for practitioners, project developers, financiers and government officials. He is the Chairperson of the Solar Energy Industries Association tax committee and a frequent speaker on debt and equity structuring issues related to renewable power assets and investments. He is ranked in Band 1 for Renewables in the Chambers & Partners attorney rankings.

INVESTMENT PROFILE

Captona targets investments in physical assets with strong, contracted cash flow profiles. We believe that this investment approach mitigates downside risk, provides flexible financing solutions, and enhances exit opportunities. Captona caters to institutional investors with a long-term investment horizon that seek secure, diversified cash-yielding assets.

TARGET INVESTMENTS

We focus our investments across multiple power generation assets, including renewable energy and clean fuel assets like solar, wind, hydrogen, RNG, fuel cell, biomass, and hydro. The Firm targets acquisitions of operating assets where there is substantial opportunity for operational or financial improvement. Captona also targets development opportunities where it can add significant value through its internal development expertise.

SOLAR

Utility-scale and C&I PV

BIOMASS

Conventional and Gasification Technologies

WIND

Utility-scale Onshore Wind

HYDROGEN

Green and Blue Technologies

FUEL CELL

Fuel Cell Technologies

STORAGE

Battery Storage Technologies

SELECT CURRENT ASSETS

To date, Captona has deployed close to $500 million of capital to acquire and operate 23 renewable energy projects. Captona has extensive in-house design/engineering experience with expertise across all project development stages. Concurrently, Captona has built an internal operations and maintenance and asset management division which services all assets in the Captona portfolio. We believe that these internal capabilities provide it a differentiated ability to evaluate opportunities and unlock additional value.

MASSACHUSETTS SOLAR PORTFOLIO

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The 25.5 MWdc Massachusetts Solar Portfolio is split across a total of 6 ground-mount projects – 2 operating stage and 4 development stage. The 2 operating sites were built on Landfill sites under the Massachusetts SREC I program and were acquired by Captona in 2016. Captona closed construction debt and tax equity financing commitments in 2016 for the 4 development Landfill sites (under the Massachusetts SREC II program) and achieved commercial operation in 2017.

The projects benefit from 20 to 25-year offtake agreements with various investment grade counterparties like municipalities, hospitals, and utilities. The projects have service agreements with Captona’s internal O&M and Asset Management divisions.

NEW ENGLAND SOLAR PORTFOLIO 1

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The 13.7 MWdc New England Solar Portfolio I contains 5 project sites. Captona closed construction debt and tax equity financing commitments in 2018. All 5 sites achieved commercial operations in early 2018 and construction was completed on-time and under-budget.

The projects benefit from 25-year contracted Net Metering Credit agreements with municipalities throughout Rhode Island. Additionally, the projects receive O&M and Asset Management services from Captona’s internal service divisions.

NEW ENGLAND SOLAR PORTFOLIO 2

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The 24 MWdc New England Solar Portfolio II includes 2 greenfield development sites. Captona closed on construction debt and tax equity financing commitments in 2018 and both projects achieved commercial operation in 2019. The 21 MW asset included in this portfolio was the largest constructed solar site in 2019 and received awards for its immaculate design and engineering.

The projects benefit from 25-year contracted Net Metering Credit agreements with municipalities throughout New England. Additionally, the projects receive O&M and Asset Management services from Captona’s internal service divisions.

NY FUEL CELL PORTFOLIO 1

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The 7.5MW New York Fuel Cell Portfolio 1 comprises two Fuel Cell assets in Staten Island, NY. The projects achieved commercial operation in Q4 2021 and add reliability to the residents of Staten Island.

The projects are eligible for the New York Value of Distributed Energy Resources (VDER) Program and benefit from 20-year offtake contracts with investment-grade investors. Captona owns this project alongside its joint venture partner, South Jersey Industry. Additionally, the projects receive O&M and Asset Management services from Captona’s internal service divisions.

NY FUEL CELL PORTFOLIO 2

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The 5MW New York Fuel Cell Project located in the Bronx , NY. The project is currently under construction and slated to achieve commercial operation in Q2 2022.

The project is eligible for the New York Value of Distributed Energy Resources (VDER) Program and benefit from 20-year offtake contracts with investment-grade investors. Captona owns this project alongside its joint venture partner, South Jersey Industry. Additionally, the projects receive O&M and Asset Management services from Captona’s internal service divisions.

MA SOLAR & BATTERY PROJECT

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The 5.66 MW Solar and 5.2MWh Storage asset is located in Agawam, MA. The project achieved commercial operation in Q4 2021.

The project is eligible for a 20-year contract under the Massachusetts SMART program and will service over 100 C&I community subscribers in Western, MA. The project receives O&M and Asset Management services from Captona’s internal service divisions.

Careers at Captona

The team at Captona has one thing in common – an unfailing dedication to deliver the very best solution for our clients. Working in an open space, collaboration is one of Captona’s greatest strengths. We strongly believe that the coordinated efforts of our team are always the key to the continued learning environment, creativity and effective execution we deliver.

As our business expands, we are constantly looking for bright, entrepreneurial individuals who share our vision.

Careers at Captona

The team at Captona has one thing in common – an unfailing dedication to deliver the very best solution for our clients. Working in an open space, collaboration is one of Captona’s greatest strengths. We strongly believe that the coordinated efforts of our team are always the key to the continued learning environment, creativity and effective execution we deliver.

As our business expands, we are constantly looking for bright, entrepreneurial individuals who share our vision.

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Contact Us

Captona LLC.
675 Third Ave, 30th Floor, New York, NY, 10017
Main: +1 646-461-7444
contact@captona.com
Have a question? Reach out to our team below.