Daily News: August 24, 2012

TIP Capital, Powin Energy Launch Financing Program

Powin Energy said it has entered a strategic partnership with TIP Capital’s Specialty Markets Group to offer customers an easy-to-use credit facility for the purchase of energy efficient lighting products and energy storage systems. Under the co-branded program, TIP Capital will originate new lease transactions directly with Powin Energy’s customers through its range of strategic vendor finance programs.

“Partnering with TIP Capital is a game changer for Powin Energy,” said Virgil Beaston, chief technology officer. “We can now offer zero-down financing packages structured to meet customer needs. With no federal, state or local government rebates/incentives for energy storage, access to TIP’s reliable financing program promises to up our market immensely.”

“We were pleased to welcome Powin Energy as a preferred partner after our rigorous credit review process,” said Ross Reida, vice president, National Accounts, TIP Capital Specialty Markets Group. “Our goal is to make it easier for customers to buy Powin Energy’s energy efficient lighting and energy storage products, which in turn will shorten the sales cycle for the company.”

TIP will offer Powin Energy customers a variety of equipment finance options, from traditional operating lease financing to structures that transfer ownership at the end of the lease. Options include traditional tax-exempt financing, true lease and conditional sales to commercial customers, state and local government agencies, municipalities and not-for-profit 501c(3) organizations.

To read the full news release, click here.