Proven financial services product from Atmos complements the
equity-driven team at Clean Energy Fund of Texas
HOUSTON, July 11,
2024 /PRNewswire/ -- Financial technology
company Atmos Financial has signed an agreement with the first
"green bank" in Texas, Clean
Energy Fund of Texas, to help
accelerate capital deployment into clean energy. The agreement is
contingent on the Clean Energy Fund of Texas receiving funding from the Coalition for
Green Capital, which recently was awarded $5
billion from the U.S. Environmental Protection Agency
(EPA).
The Clean Energy Fund of Texas
is a financing provider for Texans of all backgrounds. Its mission
is to develop and offer cost-effective ways for Texans to finance
the installation of clean, renewable energy sources like solar,
battery storage, and energy efficiency upgrades.
Atmos has developed proprietary software to leverage capital
from the EPA's Greenhouse Gas Relief Fund to help bring in more
private capital to support solar energy and electrification. Under
this agreement, Atmos would acquire, underwrite and service clean
energy loans while ensuring smooth experiences for customers and
the highest levels of security.
"The creation of the first green bank in Texas is a monumental event for accelerating
the equitable transition for all residents and businesses of
Texas," said Ravi Mikkelsen, Co-Founder and CEO of Atmos
Financial. "Atmos is thrilled to have been selected to provide end
to end lending services to the team so that they can focus on
creating impact in their community, instead of on back-office tasks
and software development. The Atmos network of banks and credit
unions stand ready to use their capital to extend Clean Energy Fund
of Texas' reach even further."
This will be the first green bank partnership for Atmos
Financial, as the Clean Energy Fund of Texas has been a leader among the nation's
green banks in getting set up and developed quickly. Atmos provides
similar services to other private lenders around the country.
"We are excited to work with Atmos Financial to help us leverage
our federal funding toward more private capital to really kick
start the green economy," said Billy Briscore, CEO of the
Clean Energy Fund of Texas. "Atmos
has a strong track record that, combined with our local knowledge
and relationships means more capital to create jobs, improve
community health outcomes, make homes and businesses more resilient
against extreme weather and save energy costs."
Atmos partners with Banyan Infrastructure, with whom Clean
Energy Fund of Texas will also be
working, to identify prospective borrowers, structure cost
efficient financial solutions and access real-time loan portfolio
reporting.
Contacts:
Ravi Mikkelsen, Atmos Financial
Co-founder & CEO ravi@joinatmos.com
Oliver Bernstein, Clean Energy
Fund of Texas,
Oliver@SteadyHandPR.com
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SOURCE Atmos Financial