Power producer Soltage secures growth financing from Prudential Capital Group

Soltage LLC, a power producer in Jersey City, announced it has secured a significant investment from Prudential Capital Group, an energy investor.

The funds, Soltage said, will be used to drive corporate growth and strategic initiatives as well as support the acquisition and development of new solar projects.

“We’re proud to have a strong investor like Prudential Capital Group join Soltage’s story of sustainable growth in the development, financing and ownership of solar assets across the country,” Jesse Grossman, founder and CEO, Soltage. “Our 14-year track record of success, paired with strong partners like Prudential, positions Soltage appropriately to tackle the clean energy deployment opportunities of our decade and beyond.”

Prudential Capital Group said it is actively looking to invest capital into clean energy assets and platforms.

“We admire Soltage’s track record, significant growth ambitions and are excited to provide a flexible, one-stop solution for their programmatic development, acquisition and ownership needs,” Parag Patel, vice president at Prudential Capital Group, said.