Radian Generation, global leader of asset management solutions for renewable energy projects, today announced it has acquired Green IT Energy Applications, a technology solutions provider offering excellent operational technology and cybersecurity services plus an expansive software catalog to the renewable energy industry.
With backing from 424 Capital, this merging of teams and industry offerings marks a natural progression in a joint mission to provide full lifecycle stewardship and risk management to owners and investors in clean energy infrastructure.
“Green IT is an accomplished solutions provider with a talented team of experts, deep software technology and critical know-how,” said Joe Kastner, CEO and founder of Radian Generation. “Green IT’s expertise in operational technology and cybersecurity enhances our asset management capabilities and perfectly augments our superb managed compliance service. Coming together as one organization strengthens our ability to ensure peak performance, continuity of operations, and critical compliance for renewable energy infrastructure investments.”
The transaction expands Radian’s offerings to more than 40 GW of global renewable energy projects, providing customers with access to a richer, more robust suite of technology that reaches across the full lifecycle of renewable energy projects, including the critical aspects of development and execution. Green IT’s team of software developers, operational technology engineers, QA technicians, project managers and data analysts will join Radian Generation. In addition to expanded resources and capabilities, the combined company—and its customers—benefit from an increased international footprint and global capabilities.
“Radian has deep market expertise and a foothold in the renewable energy asset management space,” said Andrew Eisenberg, former CEO and founder of Green IT, now joining the Radian Generation leadership team as president and CTO. “Together, we deliver an unparalleled professional and technology services platform, providing value across the complete lifecycle of renewable energy assets. Joining Radian Generation preserves our customers’ uninterrupted access to their current Green IT services and opens up the door for unlimited possibilities of new technologies, talent, and services to improve and scale their renewable energy business.”
Current Radian and Green IT customers will continue to have seamless access to the LENS™ and Green IT software platforms. Combined, the powerful SaaS offerings will bring the industry a unique end-to-end solution, covering the earliest stages of origination through development, execution, operations, and beyond into decommissioning. Key to this combined solution is a robust data collection architecture providing owners and investors an independent solution for gathering integral data, while keeping them in control of their assets.
“Radian Generation is making critical new inroads for renewable energy asset management,” said Walter Beinecke, managing partner at 424 Capital. “This acquisition of Green IT represents another key step in the company’s mission to provide value to its customers through innovation and growth in technology solutions and capabilities.”
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About Radian Generation
Radian Generation was founded in 2013 on the core principle of driving sustainable growth by providing superb asset management solutions for the renewable energy industry. During the formative years of the solar and wind market, the experiences accumulated by members of our team of industry veterans fostered an acute awareness of the need for versatility, continuity, and resiliency in a third-party business model for managing projects expected to last for decades. Today, Radian continues its industry-leading practices with over 13 GW of solar and wind assets under management around the world. With the acquisition of Green IT in 2022, Radian Generation has expanded its capabilities with a team of 27 software developers, operational technology engineers, QA technicians, project managers and data analysts dedicated to solving the complex challenges faced by the renewable energy industry. For more information about Radian Generation, please visit radiangen.com
About 424 Capital
424 Capital is a growth capital partner that invests in lower middle market companies within technology and tech enabled services. 424 Capital works in partnership with founders and management teams to accelerate and scale for long-term growth. Focusing primarily on investments in healthcare and renewable energy, we invest in, empower, and enable companies to step up, stand out, and make a difference in the world. For more information about 424 Capital, please visit 424capital.com.