Keybank

Established renewable energy technologies for a greener future

Current-gen renewables

Scout Clean Energy is a renewable energy developer, owner, and operator headquartered in Boulder, Colorado. As of May 2024, the company has approximately 1,000 MW of operating and under construction wind assets, with a robust pipeline of over 19,000 MW of wind, solar, and storage projects across 22 states, including more than 2,200 MW of advanced-stage projects. Scout Clean Energy's expertise spans all aspects of renewables project development, permitting, power marketing, finance, construction, 24/7 operations, and asset management.
The company offers round-the-clock renewable production through a diverse portfolio of wind, solar photovoltaic (PV), and battery storage assets spanning most major US power markets. In March 2022, Scout Clean Energy secured a USD 250 million revolving corporate credit facility from KeyBanc Capital Markets to fund pre-construction development, equipment expenses, and other corporate needs for its rapidly growing pipeline. Additionally, in May 2024, the company closed a USD 100 million equipment supply loan with Rabobank to finance equipment down payments, with plans to upsize the facility to USD 200 million later in the year.
Scout Clean Energy's notable achievements include the sale of the 199-megawatt Persimmon Creek Wind Farm in western Oklahoma to Evergy, Inc. in August 2022 for approximately USD 250 million. In December 2022, Brookfield Renewable, together with institutional partners, acquired Scout Clean Energy for USD 1 billion, with the potential to invest an additional USD 350 million to support the company's development activities.

Origis Energy is a solar and energy storage developer operating in the US. The company specializes in developing, financing, engineering, procuring, constructing, and managing solar and battery energy storage system (BESS) projects. Origis Energy utilizes thin-film solar panels manufactured by First Solar for its photovoltaic (PV) solar facilities. In December 2022, the company contracted with Mitsubishi Power Americas to deliver three utility-scale BESS projects totaling 150 megawatts/600 megawatt-hours. These BESS projects will be co-located with Origis Energy's PV solar facilities in the Southeast US to reduce curtailment of excess solar generation, enabling greater efficiency and higher capacity at the sites.
Origis Energy's BESS projects employ Mitsubishi Power's Emerald Integrated Plant Controller, an Energy Management System and Supervisory Control and Data Acquisition system that instructs the BESS when to charge and deploy, monitors status, sends alarms and alerts, and enables long-term data storage. As of December 2022, Origis Energy had pioneered large-scale solar in the Southeast, working with utilities, municipalities, and electric cooperatives to deploy over 1.5 gigawatts of operational and contracted projects in the region. The company's total operational and contracted solar and BESS projects across the US exceeded four gigawatts. Additionally, Origis Energy had 2.3 gigawatt-hours of BESS projects contracted or in negotiation, with 13.7 gigawatt-hours currently being developed.
In April 2022, Origis Energy placed an order for 750 megawatts of First Solar's thin-film solar panels, scheduled for delivery in 2024 to Origis projects in the US. This agreement built on a long-standing relationship between the two companies spanning five years and over 1.5 gigawatts of First Solar's thin-film modules.

Helping employers provide personalized, high-touch, and holistic financial wellness tools to their entire workforce.

Financial Wellness Tools

EarnUp is a lending infrastructure and financial wellness platform that allows borrowers to manage loan payments and automate savings through its payday-to-payday program. The platform helps users schedule loan payments to sync with their payday, accelerate principal payments, and pay off mortgages, student loans, and other debts while allowing large payments to be split into 2, 3, 4, or 5 automated debits.In October 2023, EarnUp launched the EarnUp Engagement Platform for credit unions. It also provides a conversational AI financial advisor, flexible incremental payment options, and automated savings tools. In May 2024, EarnUp expanded its platform to allow lenders and servicers to offer text-to-pay capabilities for mortgage payments via debit card.In July 2024, EarnUp launched <a href="https://sp-edge.com/updates/32186">AI Advisor</a>, an AI-powered financial guidance tool that analyzes users' banking and credit data in real time to provide personalized financial insights and guidance. It also provides financial discussions, communication support for younger users, personalized and autonomous financial guidance based on changing financial data, automated inquiries and tasks, and educational resources to improve financial literacy.Key customers and partnershipsAs of August 2024, EarnUp had over 3 million users with a cumulative transaction value of USD 43 billion. The platform had also remitted USD 15 million in payments and completed over 50 million transactions, as of the same period.

Modern tools to train and motivate staff, and bridge emerging skill gaps.

EdTech: Corporate Learning

<div>
 
 Founded in 2009, ELB Learning (rebranded from eLearning Brothers in May 2022) provides a suite of tools, content, and development and hosting services for corporate learning. The company's product and service suite includes Lectora, an authoring tool; CenarioVR, a virtual reality course builder; AssetLibrary, which contains games, interactions, templates, scenarios, navigation players, and characters; The Rockstar Learning Platform, an integrated platform that offers learning management system (LMS) and learning experience platform (LXP) features; and the Strategic Learning Blueprint, a consulting service. As of November 2020, the company served 94 Fortune 500 companies.
 
 
 The company launched The Rockstar Learning Platform in January 2021. Platform features include virtual onboarding and employee training, customer and partner training, self-directed learning, upskilling, reskilling, cross-training, and virtual instructor-led training. In October 2021, the company introduced a consulting service, the Strategic Learning Blueprint, which assesses a business’s existing training, designs a custom learning plan, and launches a modern learning strategy.
 
 
 The company has also expanded its portfolio through acquisitions. In April 2020, ELB Learning acquired its longtime partner Trivantis, creator of the Lectora authoring tool and the CenarioVR virtual reality course builder. Trivantis' other products such as ReviewLink for reviewing and approving content, and the CourseMill LMS will also be integrated. ELB Learning also acquired Edulance, developer of the KnowledgeLink LMS and its partner since 2019. In March 2021, The company acquired The Game Agency, the creator of The Training Arcade, a DIY game-authoring tool, to offer game-based learning on its platform. In January 2022, the company acquired 
 <a href="https://sp-edge.com/updates/7849">
 Rehearsal, 
 </a>
 a video-based training and coaching platform, and Chennai-based 
 <a href="https://sp-edge.com/updates/8040">
 Origin Learning, 
 </a>
 a learning design and technology company, to broaden its product suite, strengthen its product development capabilities, and allow it to expand into new markets. Its most recent acquisition was in April 2022, when it acquired learning solutions provider 
 <a href="https://sp-edge.com/updates/10092">
 CoreAxis
 </a>
 .
 
 
 Key customers and partnerships
 
 
 ELB Learning teamed up with Traliant, a compliance training company, in July 2021, to include all Traliant training courses in compliance and diversity, equity, and inclusion (DEI) into its LMS.
 
 
 Funding and financials
 
 
 In February 2022, the company 
 <a href="https://sp-edge.com/updates/8251?industryIds=46">
 raised USD 54 million in a funding round 
 </a>
 led by RLG Capital and Trinity Investors, allowing the company to acquire Rehearsal and Origin Learning and to restructure its debt.
 
</div>

Moving industry forward with next-gen advancements in energy storage and transmission

Alternative Energy

Plus Power is a US-based company that develops, owns, and operates standalone energy storage systems. The company specializes in large-scale lithium-ion battery systems and has a growing portfolio of projects in over 28 states and Canada, with a total interconnection capacity of 10 GW.In <a href="https://www.prnewswire.com/news-releases/worlds-most-advanced-battery-energy-storage-system-comes-online-speeding-hawaiis-transition-to-100-renewable-energy-302032803.html">January 2024</a>, Plus Power began operations at its 185 MW Kapolei Energy Storage facility in Hawaii. This was reported as the first time a battery was used by a major utility to balance the grid.Funding and financialsPlus Power’s latest funding round was in <a href="https://sp-edge.com/updates/26806">February 2024</a>, when it received ~USD 98 million in tax equity investment from Greenprint Capital Management. The company intended to use the funds to support the construction and operation of its Ebony Energy Storage facility, which is set to be operational in 1H 2024. Prior to this, in <a href="https://sp-edge.com/updates/22838">October 2023</a>, the company raised USD 1.8 billion in debt financing. The capital was to be used to fund the construction and operations of five projects, including a 250 MW energy storage facility in Arizona and three battery plants in Texas.

Democratizing financial technology with a suite of API-based solutions

FinTech Infrastructure

EarnUp (previously known as APAsave) provides mortgage and lending infrastructure that digitizes the lending process from loan origination and servicing to managing repayments. It aims to reduce lenders’ risk while automating and simplifying the repayment process for borrowers, enabling them to protect their credit scores. Its risk mitigation techniques include accurately valuing mortgage portfolios, analyzing trends on income, assets, and loan performance, enhanced servicing, and analyzing early risk indicators.EarnUp also provides the “GetAhead” dashboard to provide lenders real-time data and visibility on its borrowers (data such as income, debt, employment, etc.). It also allows borrowers to initiate payments by setting up debit dates, accounts, and amounts.In July 2024, EarnUp launched <a href="https://sp-edge.com/updates/32186">AI Advisor</a>, an AI-powered financial guidance tool that analyzes users' banking and credit data in real time to provide personalized financial insights and guidance. It also provides financial discussions, communication support for younger users, personalized and autonomous financial guidance based on changing financial data, automated inquiries and tasks, and educational resources to improve financial literacy.

Platforms, apps, and cards to keep the corporate wallet in check

Business Expense Management

<div>
 
 AvidXchange offers an accounts payable (AP) automation platform that governs the entire AP process from invoice management and custom approval workflows to making payment to suppliers in AvidXchange&rsquo;s network (over 825,000 as of October 2022). Payments automated through the platform can be integrated with the user&rsquo;s accounting system, which remains the system of record. Accordingly, AvidXchange is integrated with over 220 accounting softwares, including NetSuite, Sage, and QuickBooks. The platform also provides visibility and insights on invoices to optimize expenses.&nbsp;
 
 
 
 
 The platform reportedly processed around 70 million transactions in 2022 and managed over USD 68.2 billion in spend. AvidXchange also 
 <a href="https://sp-edge.com/updates/14937?industryIds=76">
 introduced cross-border
 </a>
 payment capabilities for its users in November 2022.&nbsp;
 
 
 
 
 Key customers and partnerships
 
 
 
 
 The company primarily serves middle-market companies across a range of industries - including real estate, construction, healthcare, hospitality, media, and tech. As of October 2022, the platform had over 8,000 enterprise customers, including DoorDash, American Dental Association, FirstService Residential, and Empire State Realty Trust.&nbsp;
 
 
 
 
 AvidXchange entered a referral partnership with credit union service organization Member Driven Technologies (MDT), in July 2022, to promote AvidAscend (invoice-to-pay software for banks and credit unions) among MDT&rsquo;s 100+ credit union clients. In December 2022, the company partnered with technology company 
 <a href="https://sp-edge.com/updates/15149?industryIds=76">
 Wise
 </a>
 to support international payment capabilities.
 
 
 
 
 <a href="https://sp-edge.com/updates/23677">
 In November 2023,
 </a>
 AvidXchange announced a partnership with AppFolio, a property management solutions provider, to enhance AP automation for its 19,000 real estate customers and it 
 <a href="https://sp-edge.com/updates/24711">
 partnered with M3 Accounting Solutions
 </a>
 to offer hotels an automated financial management solution by integrating AvidXchange's payment automation into M3's CoreSelect accounting software.
 
 
 
 
 Funding and financials
 
 
 
 AvidXchange was listed on the Nasdaq in October 2021 and raised USD 660 million through its IPO, at a valuation of around USD 5 billion (more than double its USD 2 billion valuation in January 2020). The company&rsquo;s revenue amounted to USD 380.7 million in 2023; however, it was yet to turn profitable, with negative adjusted EBITDA of USD 30.5 million. AvidXchange 
 <a href="https://sp-edge.com/updates/20619">
 guides for revenue
 </a>
 to rise 16-18% YoY in 2024 and reach USD 441-447 million. It also expects the annual adjusted EBITDA to turn positive and come in between USD 67&ndash;71 million.
 
</div>

Northwest Housing Alternatives are a non-profit organization that provides affordable housing development & homeless intervention services.

Ramaco Resources is a producer and operator of metallic coal. They have deposits of metallurgical coal totaling over 250 million tonnes. This serves as a raw material in the production of steel in a blast furnace. Elk creek, berwind, ram mine, and knox creek projects make up its portfolio.

Based in Ladera Ranch, California, is currently the seventh largest owner and operator of self-storage facilities in the United States

Neighborhood Allies is a unique community development partner.

Cinnaire is a community development financial partner that supports community and economic development initiatives. It creates opportunities for people in need by seeking out and developing partnerships with mission-focused organizations and investors, and by deploying capital and expertise to foster community-driven revitalization. Cinnaire has invested $4.2 billion to revitalize communities, resulting in more than $7 billion in community impact. It was established in 1993 and is based in Lansing, Michigan.

At Bridgeway Capital, we are ''bridging the way'' from entrepreneurial ideas to actual business growth and impact.   Bridgeway Capital works with companies and nonprofits in western Pennsylvania that have a strong, positive economic and social impact — igniting growth, stirring healthy competition, creating job opportunities, and strengthening communities.

Origis Energy is a solar development and construction firm that brings clean solar and energy storage solutions. Origis Energy specializes in large-scale solar power projects. They design, build, and operate solar farms that generate clean electricity for utilities, corporations, and communities. Their projects span various stages from initial site assessment and project development to engineering, procurement, construction (EPC), and long-term operations and maintenance (O&M).

UBIZ Venture Capital (UVC) is a specially designed platform aimed at providing equal opportunities to small businesses that have been historically underserved or disadvantaged. UVC achieves this by offering comprehensive pre-loan counseling and technical training, which are integral components of its service delivery model. The primary objective of UVC is to empower small businesses with the necessary knowledge and resources to compete and grow in their respective industries while also granting access to capital.

OvationCXM, the leading AI-infused customer experience management (CXM) provider, helps companies identify and resolve real-time friction points in customer journeys across digital, back-office, and partner touchpoints so companies can ensure revenue security, foster profitable growth, and cultivate customer loyalty and staff retention. It’s the only CXM platform that combines journey orchestration, knowledge management, generative AI, dynamic chat, and partner connectivity in one solution – unlocking unparalleled data-driven insights for swift CX action to deliver consistently exceptional customer experiences.

Arevon is a leading renewable energy company, supplying clean, reliable, and cost-effective energy to utilities and businesses in the U.S. We use innovative approaches to develop, build, finance, own, and operate utility-scale solar, energy storage, solar-plus-storage projects as well as distributed generation assets.

They build, own and operate clean energy assets both behind and in front of the meter. Their solutions, managed by proprietary, technology-enabled risk management tools, allow us to provide dispatchable, affordable and resilient clean power to enhance system reliability and security for their customers and the grid.

Jacmel Growth Partners is a private equity firm that focuses on the lower middle market. The company was founded in 2015 and is headquartered in Brooklyn, New York.

EarnUp is a consumer-first fintech platform that intelligently automates loan payments for the more than 200 million Americans with debt. They help you put a few dollars aside for your loans when you can afford it – then they make your loan payments for you, allocating funds in the way that gets you out of debt faster. They are dedicated to giving control back to everyone who is frustrated managing their finances

Installed Building Products offer a diverse portfolio of products for new and existing residential, and commercial building projects.

Espresso Capital has provided over 230 early and growth stage technology companies with founder-friendly capital since 2009. It offers lines of credit and term loans to enable entrepreneurs to grow their businesses without dilution, board seats, or personal guarantees. Its mission is to keep founders in control with fast, fair, and flexible capital.

Plus Power engages in the development, ownership, and operation of independent battery energy storage systems, delivering capacity, energy, and ancillary services. This facilitates the swift integration of renewable generation resources.

XUP Payments is a vertically focused payment platform that develops digital payments software for financial institutions. It provides a seamless connection between financial services, processors, merchants, and ultimately customers. XUP's platform removes the friction that merchants face when onboarding and managing their payments experience.  XUP Payments was founded in 2019 and is headquartered in Charlotte, North Carolina.

Avantus develops large-scale solar and solar-plus-storage projects to drive the adoption of zero-emission energy. Avantus is dedicated to creating sustainable and efficient energy solutions that minimize carbon footprints and promote environmental stewardship. In addition, the company offers smart infrastructure solutions that incorporate advanced technologies to improve the performance and reliability of various projects. These solutions include the development of smart grids, intelligent transportation systems, and resilient urban infrastructure, all designed to enhance efficiency and sustainability.

eLearning Brothers is a leader in the corporate learning technology industry. The company provides a complete suite of integrated learning development and delivery tools, including the leading authoring tool Lectora and virtual reality course builder CenarioVR. Learning developers can utilize these tools together with an extensive library of professionally-designed eLearning templates, game modules, and courses. eLearning Brothers also creates award-winning custom learning solutions and provides a learning management system to deliver and track learning content and learner progress.  eLearning Brothers is helping everyone create and deliver eLearning that rocks!

Scene75 Entertainment Center is an entertainment center operator. Arcade games, laser tag, virtual reality, inflatables, go-karts, mini-golf, and bowling are available at the company's centers, which also include a restaurant and bar. It allows clients to customize their fun whenever they want because there are no admission or parking fees. It's up to each other whether users want to spend hours exploring all of their attractions or just come in for an hour to entertain the kids and others.

Scout Clean Energy is a renewable energy company that operates and develops wind, solar, and renewable power projects. The company focuses on all aspects of renewables project development, permitting, power marketing, finance, construction, and asset management.

Vivint Solar is a leading full-service residential solar provider in the United States. With the help of Vivint Solar, homeowners can power their homes with clean, renewable energy, typically achieving significant financial savings over time. Vivint Solar designs and installs solar energy systems for homeowners and offers monitoring and maintenance services. In addition to being able to purchase a solar energy system outright, homeowners may benefit from Vivint Solar's affordable, flexible financing options, including power purchase agreements, or lease agreements, where available. Vivint Solar also offers solar plus storage systems with LG Chem home batteries and electric vehicle chargers with ChargePoint Home. For more information, visit www.vivintsolar.com or follow @VivintSolar on Twitter.

ConnCAT provides job-training programs intended to give unemployed and underemployed adults the skills needed to secure meaningful jobs in the health sciences and culinary professions. They also offer adult programs, career pathways program, and youth programs.

Baceline Investments is a premier private real estate investment and management company that believes in strengthening America’s Heartland communities. They  do this by building quality relationships with key stakeholders through a strategic approach to commercial real estate investing. By acquiring and revitalizing neighborhood shopping centers in value-rich markets, Baceline creates opportunity for growth and success.  Communities, investors, and tenants have benefited from Baceline’s experience and expertise in commercial real estate investing since 2003. Their ability to find valuable real estate opportunities in Heartland markets has had a dramatic and positive impact for all of their partners.

JumpStart Inc. is a non-profit organization transforming the economic impact of entrepreneurial ventures and the ecosystems supporting their growth. JumpStart’s primary service is intensive entrepreneurial development assistance delivered to Northeast Ohio entrepreneurs leading high potential, early-stage companies. JumpStart also supports the growth and strengthening of Northeast Ohio’s innovation and entrepreneurial ecosystem by securing a continuous stream of resources for entrepreneurs. In doing this work, JumpStart focuses on economic inclusion and activities that increase the success of minority and women entrepreneurs in growing high impact companies. As Northeast Ohio’s entrepreneurial landscape continues to transform, JumpStart collaborates with community and regional leaders nationally to support the startup and development of high growth businesses that have a significant and sustainable impact on the economy.

sPower is an independent power producer (IPP) which owns and/or operates more than 150 utility and distributed electrical generation systems across the US and the UK. The company is headquartered in Salt Lake City with offices in San Francisco, Long Beach and New York City,  With 6.7GW between operating, construction and pipeline, sPower is actively buying select utility-scale renewable assets in virtually any stage of development in the United States.

CoreSite Realty Corporation owns, develops, and operates data centers in certain data center markets in the United States, including Los Angeles, the San Francisco Bay and Northern Virginia areas, Chicago, and New York City. Its customer base consists of enterprise customers, communications service providers, media and content companies, government agencies, and educational institutions.

AvidXchange is the industry leader in automating invoice and payment processes for mid-market businesses. Founded in the year 2000, AvidXchange processes over $140 billion transactions annually across its network of more than 680,000 suppliers, transforming the way 6,000 customers in North America pay their bills. AvidXchange is distinguished as a global fintech unicorn and one of the fastest growing technology companies in the U.S. with 1,500 employees supporting customers across seven office locations.

Cedar Realty Trust, Inc. is a fully-integrated real estate investment trust that owns shopping centers. Our high-quality core portfolio of primarily grocery-anchored shopping centers straddling the Washington, DC to Boston corridor totals 10 million square feet of GLA. We are focused on creating long-term value for our shareholders and long term relationships with our tenants.

Compass Datacenters creates data centers for enterprise, software as a service (SaaS), cloud computing, and service provider customers. The data centers of the company provide build-to-order services by providing more features and personalization options, allowing enterprise, cloud computing, and service provider customers to solve needs through the patented architecture, scalable design, cost of ownership model, and overall speed to market.

Ondeck is a technology-enabled financial platform that provides loan financing to small and medium-sized businesses. The company uses proprietary software to aggregate data about a business’ operations which is processed by an algorithm that determines loan eligibility. OnDeck was founded in 2006 and is based in New York City, United States.

ByteGrid Holdings LLC (dba ByteGrid) specializes in the ownership, development and operation of wholesale and compliant grade data centers. ByteGrid owns the land, facility and the operations that provide 24x7 security, electrical and mechanical infrastructure management.

First Wind is an independent North American wind energy company focused exclusively on the development, ownership and operation of wind farms. We currently focus on developing wind farms in the northeastern and western regions of the U.S. and in Hawaii, and are already producing 504 megawatts (MW) of energy through seven operating wind farms. First Wind is currently developing wind energy projects in several markets through various subsidiary companies.

Open Solutions provides collaborative, enterprise core account processing technology for banks, thrifts and credit unions, along with a full range of surround solutions.

Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $92.9 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally.   The company's businesses deliver their products and services through branches and offices; a network of 1,335 ATMs; telephone banking centers 800-KEY2YOU® (800-539-2968); and a website, Key.com®, that provides account access and financial products 24 hours a day.

<div> Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $92.9 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. The company's businesses deliver their products and services through branches and offices; a network of 1,335 ATMs; telephone banking centers 800-KEY2YOU&reg; (800-539-2968); and a website, Key.com&reg;, that provides account access and financial products 24 hours a day. </div>

Inside Look: KeyBank ramps up RPA and process mining efforts

Offers end-to-end financial wellness solutions ranging from educational resources to interactive platforms/tools for managing finances as well as access to registered investment advisors.

Provides a platform for employees, through their employers, to access earned wages or obtain emergency interest-free funds/loans, which are settled through their paycheck.

Provides a platform for employers to provide resources such as tools and advice to manage employee debt (with an increased focus on student loan debt).

Apps and platforms that allow consumers to obtain personalized financial advice, automate savings, create budgets, and track and manage spending.

Offers interactive platforms/tools for employers to provide personalized financial education resources and/or coaching to its employees.

Solutions that enable companies to offer and manage employee-sponsored emergency savings accounts through automated payroll deductions.

Platforms for employers to support employees with other debts such as mortgages, credit card debt, etc. through repayment assistance, refinancing options, and automated administrative processes.

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