announced today the closing of a major investment in NEE by SmartPitch. Under the terms of the agreement, SmartPitch assumed a controlling interest in NEE.

The investment will accelerate NEEs growth for the coming years and entrench their position as one of the key developers focused on distributed generation and community solar in the United States.

This investment is a major achievement for NEE and transformative for the growth of our business, saidMatthew Hankey, President & CEO of New Energy Equity. We are proud to partner with such a highly experienced and respected team as SmartPitch Ventures, and together we will dramatically scale our solar development efforts, while enhancing our ability to deliver unique and innovative solar power solutions to our customers.

Together with NEE, we will develop top-quality solar projects, meet ever-increasing market demand for modern power generation and deliver assets that will create jobs and drive economic growth across the country, commentedGautamChandra, SmartPitch Managing Partner. Were excited to achieve our national-scale goals for solar growth with one of the very best developers in the United States, added Sanjiv Mahan, SmartPitch Managing Partner.

Gautam ChandraandSanjiv Mahanfounded SmartPitch Ventures after holding executive leadership positions at WGL Energy, a leading owner and operator of distributed energy assets and energy solutions provider. This transaction is the best example to date of our partner-driven growth model, saidJohnLanghus, Vice President Business Development, New Energy Equity. We had terrific success working with Sanjiv and Gautam while they were at WGL Energy. The trust and respect we built between our teams made this transaction an obvious fit from the start.

The capital infused by the SmartPitch team will propel NEE into our next stage of growth, saidJBJouve, Chief Financial Officer of NEE. Our new partnership will allow us to develop cost competitive, high-quality assets and advance our position as a leading renewable energy company.

We are delighted with this transaction, which is a testament to the quality of both the New Energy Equity and SmartPitch teams, noted Rubicon Managing Director Nick Sangermano. We admire NEE for building such a strong record and impressive relationships across more than a dozen US states and look forward to their continued, highly impressive success.

Rubicon Capital Advisors represented NEE as a financial advisor and K&L Gates LLP represented NEE as legal counsel.

SmartPitch Ventures was advised by Akin Gump Strauss Hauer & Feld LLP and Seale & Associates.

Founded in 2013 and headquartered in Annapolis, Maryland, NEE develops and oversees solar power generation assets, providing clean electricity to commercial, industrial, municipal and utility customers under long-term contracts. NEE successfully installed 60 MW of new solar capacity in 2018, part of an overall development portfolio of over 200MW since 2013.

For more information please visit New Energy Equitys website at To stay up-to-date on current news, follow us onLinkedIn.

SmartPitch Ventures (SmartPitch) is a leading later stage venture capital and private equity business focusing on disruptive technologies with a particular focus on energy. SmartPitch was founded by Gautam Chandra and Sanjiv Mahan, who have invested in and built national platforms in renewable energy, distributed generation, and competitive energy and technology businesses. SmartPitch partners with innovative founders and management teams to scale businesses entering their growth phase. SmartPitch is headquartered in Fairfax, VA.

Rubicon is one of the worlds leading investment banking firms focused solely on the infrastructure, energy & utilities sectors. With offices in Europe, the Americas and Asia, along with further expansion plans in 2019, the firm has a truly global reach. Since inception in 2011, Rubicon has closed on the sale, acquisition or refinancing of over 100 essential infrastructure, energy & utilities assets located across Europe, North America, Latin America and Asia with a combined enterprise value in excess of USD $45 billion. The firm is regulated by the Central Bank of Ireland and its U.S. affiliate is a member ofFINRAandSIPCand registered as a broker-dealer with theSEC. Learn more about the firm at: by followingRubicon Capital Advisors on LinkedIn.

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