Charlottesville, Va.-based Apex Clean Energy has secured $30 million in follow-on financing from Prudential Capital Group.
The proceeds of this financing will be utilized to advance Apex's project pipeline, including project construction, development, acquisitions and general corporate purposes. Apex says the investment will also be used to expand Apex's growing asset management business, which is supported by the company's recently completed remote operations center in Charlottesville.
According to Apex, the investment follows the $50 million in financing that Apex announced with Prudential in February.
‘We're pleased to close our second 2015 transaction with Apex,’ says Ric Abel, managing director at Prudential Capital Group. ‘This add-on financing will allow Apex to continue to invest more into its considerable pipeline and retain many projects deeper into the development cycle before selling to more conventional long-term owners or maintain a long-term stake.’