48fund provides developers in the U.S. with non-dilutive, clean energy tax credit financing.
CHICAGO, IL / ACCESSWIRE / March 28, 2024 / 48fund, a new entity focusing on renewable energy project financing, announced today the introduction of its tax finance solution aimed specifically at the lower-middle market of renewable energy developments. This solution is designed to address the unique challenges faced by project sponsors in securing funding and monetizing tax credits.
48fund logo
Historically, small and mid-sized renewable energy projects have struggled to access traditional tax equity financing due to its complexity and cost. Nick Mahoney, co-founder of 48fund and alumnus of the Kellogg School of Management, stated, "Our model is intended to simplify the financing process for renewable energy projects. By utilizing tax credit transferability enabled by the 2022 Inflation Reduction Act, we aim to provide immediate capital to developers, helping to close out their capital stack and facilitating a smoother path to project completion."
48fund is the result of a collaboration between industry professionals and CKH Group, a global consultancy firm with extensive experience in tax, accounting, section 48, and section 6418. This partnership aims to leverage CKH Group's expertise in tax credit strategies to support the renewable energy market.
Harry Catrakilis, non-executive chairman of CKH and an advisory board member of 48fund, commented on the potential impact of this initiative, "The ability to transfer tax credits represents a significant advancement in the financing of renewable energy projects. We're excited to announce our partnership with 48fund, providing independent accounting and tax credit valuation services."
48fund is currently open for applications from developers of renewable energy projects scheduled for completion by 2025. The firm also seeks to collaborate with strategic partners who can benefit from the transferable tax credits to reduce their effective tax rates.
About 48fund
48fund stands at the forefront of tax credit financing for the lower-middle market segment of renewable energy projects. By enabling developers to upfront monetize their tax credits, 48fund helps close out the capital stack without the complexities and costs associated with traditional tax equity partnerships. For more information on how 48fund can assist with your project financing needs, visit https://48fund.com.
About CKH
CKH Group is an Atlanta-based CPA firm offering powerful assurance, tax, accounting, and advisory services to small businesses, global enterprises, and government entities. CKH Group also provides customized outsourcing to meet your business's needs. For more information on how CKH Group can assist you, visit https://www.ckhgroup.com.
Contact Information
Nick Mahoney
CEO
[email protected]
7734820028
Harry Catrakilis
CPA, Non-Executive Chairman
[email protected]
7704959077
SOURCE: 48fund
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