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Crestmark Expands Renewable Energy Division

September 19, 2019, 09:00 AM
Related: Crestmark

Crestmark announced the appointment of Jon Ellis as Vice President, Renewable Energy. Based in North Carolina, he will report to Crestmark President Mick Goik. With the addition of Ellis, Crestmark strategically increases a company focus on financing for the renewable energy landscape.

“We welcome Jon to Crestmark and look forward to his expertise as we increase our focus on renewable energy finance,” said Goik. “With over $147 million in solar fundings in 2019, Crestmark has been actively providing financing to the solar industry through field equipment leases, sale/leaseback transactions and long-term debt through the USDA.

“Jon will partner with Chris Soupal in our Government Guaranteed division, along with other divisions who are already lending into the renewable space – formalizing our initiatives within a division focused exclusively on growing this important segment across all renewable energy sectors including solar, wind, biomass, thermal, fuel cells and storage.”

Ellis comes to Crestmark with more than 25 years of finance industry experience and a background in renewable energy. Most recently, he served as Chief Financial Officer and Director of Project Finance for ReNew Petra Integrators, LLC. There, he led efforts to promote the strategic development for institutional tax equity and sponsor equity partnerships. He was also responsible for construction financing and traditional and USDA permanent debt solutions for solar and bioenergy projects — which included financial modeling and structuring, legal documentation and negotiations, with leadership or participation in securing over $100 million in portfolio assets.

“I am excited for the opportunity to grow the renewable energy group within Crestmark,” said Ellis. “With a singular focus on renewable energy, and Crestmark’s entrepreneurial spirit, extensive suite of loan products and services, strong balance sheet and competitive cost of capital, we will further leverage our position as a leader in the renewable energy market.”

Previously, Ellis served as Project Finance Manager for SunEnergy1, LLC; Chief Operations Officer and Vice President, Regional Correspondent Lender for United Partners Bank; Vice President, Regional Correspondent Lender for Silverton Bank; Chief Financial Officer for Overhead Door Company of Charlotte; Vice President, Commercial Lending Officer for Branch Banking and Trust Company; and Vice President, Relationship Manager for PNC Bank. He has also served as an independent contractor and financial consultant, providing financial modeling and evaluation for real estate firms, finance companies, and solar developers for more than 10 years.

Ellis earned a bachelor’s degree in business and psychology from University of Pittsburgh and an MBA from University of Pittsburgh – Joseph M. Katz Graduate School of Business.

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