PosiGen, Forbright Bank Join Hands to Expand Clean Energy Options in Underserved Communities

PosiGen, Inc., and Forbright Bank, a financial institution recently rebranded from Congressional Bank and committed to accelerating the clean energy transition, announced a new $140 million lending relationship.

This partnership will significantly expand PosiGen’s ability to bring clean energy, as well as substantial cost savings, to families in historically underserved areas.

This partnership with Forbright will considerably grow PosiGen’s available capital base and enable the company to reach more customers in its currently-served markets of Louisiana, New York, Connecticut, New Jersey, and Florida and also expand into new regions, including California, Illinois, Nevada, and Pennsylvania.

“PosiGen couldn’t be more pleased to partner with Forbright Bank on this transaction,” stated Tom Neyhart, PosiGen’s CEO. “The Forbright team not only shares our values, but they understand the virtuous cycle of what we offer our customers – when you treat LMI households with respect, reduce the energy burdens they face in a meaningful way, and allow them to achieve energy independence through a combined solar and energy efficiency solution, they are great long-term customers.

“At Forbright, we believe that banking with a sustainability focus is good for our customers, our business, and society. Partnering with a mission-aligned company like PosiGen will help enable a more inclusive transition to a clean energy economy by opening affordable low-carbon solutions, as well as immediate monthly energy savings, to thousands of low-to-moderate income households across the United States,” said Kenny Elias, President of Specialty Lending at Forbright.