U.S. Government support for the clean energy transition has surged due to major legislation passed over the past three years. This vast increase in support is channelled through a wide array of funding programs and tax credits. Yet selecting the best path to access these funds and undertaking the process to obtain them is a complex challenge.
We help companies navigate the government finance challenge, select the most promising strategies, advise on deal structuring, assist in negotiations, and secure the sought-after loans, grants, or credits. Our in-depth knowledge covers the universe of federal credit programs, particularly those supported by the DOE, including loans from the LPO, grants from the OCED, and tax credits under various programs.
Our Managing Directors have proven expertise in obtaining government funding and support:
Including current assignments, HamiltonClark Managing Directors have collectively been engaged in 24 transactions involving the DOE, with a total value of about $16 billion.
Each of our clients receives attention from a team of senior bankers with experience across the stages of each relevant program, and with project financing and corporate financing experience that the LPO staff demands. We offer insight and solutions – and our commitment to see the transaction through to closing.
HamiltonClark is a “one-stop shop,” able to advise both on government programs and assist the client in raising private sector capital and project financing, which is often required for loan guarantees and OCED cost shares.
Upfront review of client needs, formulating strategy to obtain government support, ensuring the requirements for transaction structuring, and structuring process and channels for applying for the government programs.
Building a credible narrative that provides confidence of repayment. The project structure, loan terms, and any credit enhancements will have to meet the DOE standards for creditworthiness. Key to this effort is a comprehensive financial model supported by realistic cost, market, and revenue assumptions.
Identifying and resolving threshold issues, including credit, financial, technical, and environmental, with the LPO early in the process, including any need for an environmental impact statement, loan structuring requirements, and an appropriate collateral package.
Addressing key requirements common to government financing programs. Policies related to diversity, equity, inclusion, accessibility, and workforce training and development, collectively “Community Benefits”, are an important part of the evaluation process, and must be adequately addressed in the Company’s narrative.
Managing the transaction process, which involves multiple submittals with layers of review and approval, and the need for DOE to engage outside counsel and advisors on a timely basis, and within a reasonable budget.
Understanding tax credit eligibility, optimizing credit support, and developing a credible program of compliance to provide investors with the necessary assurance that the credits and other tax benefits will be earned.
Managing Director
Rob served as the first Outreach and Business Development Division Director at the LPO Office in DC. He advised more than 100 potential applicants regarding their development of applications to the LPO, worked with potential applicants to better understand the Technical Qualification requirements of the LPO, reviewed draft applications and worked with potential applicants to improve their application, assisted applicants in responding to due diligence questions from the Origination and TPMD Divisions, supported venture capital investors and their portfolio companies considering applying for an LPO loan, and worked with investment bankers and other financiers to better understand the LPO requirements and process.
During the Obama Administration, Rob served as Deputy General Counsel for Energy Policy and worked closely with LPO on the following: DOE Lead Senior Appointee for the Tesla $465 million Advanced Technology Vehicle Manufacturing Loan (ATVM), DOE Lead Senior Appointee for the Ford $5.9 billion ATVM Loan, and in connection with advising the General Counsel and Deputy Energy Secretary (Credit Review Board Chairman) reviewed for risk structuring and consistency with private project finance standards all projects presented to the Credit Review Board from August 2009 through June 2011 including Nissan ATVM Loan, Plant Vogtle, Shepherds Flat Wind Farm, One Nevada Line (Transmission), Multiple Utility Scale Solar Power Projects, and Multiple Concentrating Solar Power Projects.
Managing Director
John worked as a finance consultant to the LPO. As part of LPO’s credit underwriting team, he supported the evaluation, structuring, negotiating, approval, and closing of over $2.6 billion of DOE financing for 10 renewable energy projects, including: Agua Caliente, Solar Reserve Tonopah, Record Hill Wind, US Geothermal, Poet Project Liberty, Abengoa Bioenergy Biomass, and Diamond Green Diesel.
Managing Director
Allison has experience structuring, drafting, and negotiating OCED grant proposals. She leads HamiltonClark’s Built Environment coverage and is LEED AP (BD+C) and WELL AP accredited.
Managing Director
Barney, as CEO of H2Gen Innovations, led the company’s successful effort to obtain a DOE grant to demonstrate that hydrogen could be produced and delivered at a price comparable to gasoline.
Managing Director
Andy, as CFO of ZeaChem Inc, helped secure the largest, at that time, USDA loan for the early-stage development of a commercial scale biomass refinery. The guarantee was used as the blueprint for the US DOE Loan Program Office process. In addition, while at Zeachem he led a first-of-a-kind financing transaction that combined the sale of tax credits, a DOE grant, and third-party debt to fund the construction of a biorefinery.
Managing Director
Previously a Managing Director with Siebert Capital Markets, a division of Muriel Siebert & Co., Inc., he developed and maintained numerous U.S. Government and GSE relationships, including Fannie Mae, Freddie Mac, and the Federal Home Loan Bank, as authorized underwriters and trading counterparties, as well as with the U.S. Department of Treasury (TARP-related asset unwinds), and the Tennessee Valley Authority. At the state level, has testified before the California Public Utilities Commission.
Managing Director
Previously Senior Vice President at Syntroleum Corporation, Ron has deep experience with renewable fuels and the regulatory regimes that underpin them. He developed a biofuels strategy that led to the construction of the first renewable diesel plant in the U.S., and worked with the Environmental Protection Agency to establish the renewable fuels pathways to enable the generation of D4 Renewable Identification Numbers (RINS). In addition, he has significant understanding of the California Low Carbon Fuel Standard as well as carbon credit programs broadly.
CEO and Managing Director
John worked for two years on the Biomass Research and Development Technical Advisory Committee with about 30 other executives, advising the DOE and USDA under the BRDI program. John also was asked by the DOE to participate as the only investment banker on the peer review committee for the $600 million Advanced Biorefinery grant program.
HamiltonClark is one of the longest serving supporters over the past 19 years of the National Renewable Energy Lab (NREL) Industry Growth Forum.
Our Managing Directors have impressive listings connected to major corporations for their advisory services while at HamiltonClark.
VIEW TRANSACTIONS