ORPC Introduces Leasing Option for RivGen
- Business & Finance
ORPC is now offering tailored leasing solutions to its customers for RivGen Power System through an exclusive relationship with a private investment firm Warbird Capital.
Nicholas Pastushan, founder and CEO of Warbird Capital said, “We look forward to working closely with ORPC and its customers to make it easier to benefit from ORPC’s no-carbon, microgrid energy solutions. Our leasing option will utilize any available subsidy programs, grants and other sources of low-cost financing as part of an affordable structured solution for ORPC customers.”
ORPC chairman, Co-founder and CEO, Chris Sauer, added: “We are thrilled to be working with Warbird Capital to offer communities a leasing option for comprehensive renewable energy solutions incorporating our RivGen Power System with smart grid electronics and energy storage to build the no-carbon microgrids of the future. The RivGen Power System is a big step into the future of sustainability for nearly 2 billion mostly indigenous people worldwide who live in remote, off-grid communities, 700 million of whom currently rely on very expensive, environmentally-risky diesel fuel to power their homes.”
In April, ORPC unveiled its first commercial RivGen Power System with the help of Maine Governor Janet Mills at Brunswick Landing, Brunswick, Maine. This first commercial system is in route to Alaska for installation in the Kvichak River and will provide electricity to the remote community of Igiugig, offsetting the village’s diesel fuel use by up to one-half and moving it closer to using diesel fuel for emergency-backup only.
ORPC is also progressing with a growth capital offering via Netcapital. A portion of the raise is reserved for Main Street investors, though primarily directed at impact and institutional investors under the SEC’s Crowdfunding rules adopted under the JOBS Act.