Leyline Renewable Capital Announces Investment to Support Minority-Owned Local Bank

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May 26, 2022, 08:00 ET

Funding from Leyline will expand M&F Bank's resources to help underserved communities in North Carolina

DURHAM, N.C., May 26, 2022 /PRNewswire/ -- Leyline Renewable Capital, the leading provider of development-stage capital for renewable energy projects, announced a deposit with M&F Bank, the only minority-owned bank and community development financial institution in North Carolina. Leyline's deposit in M&F Bank's Empower Share Class Fund, also known as an ESC Fund, bolsters M&F's mission to support underserved communities through lending, investing in technology and providing financial literacy programs.

"One of our core values at Leyline is to forge sustainable communities. We seek to identify and fill the gaps in our system to advance both environmental and social justice," said Erik Lensch, CEO of Leyline. "Leyline's investment in M&F Bank is an investment in our shared commitment to a more equitable future for our local community and beyond."

M&F Bank's ESC Fund is a facet of J.P. Morgan Asset Management's Empower share class, an initiative that began in February 2021 to create an avenue for institutional clients to invest in minority and diverse-led financial institutions. The Empower share class aims to support institutions like M&F Bank in delivering ongoing positive change to underserved communities—thanks to investments like Leyline's, the M&F Bank's ESC Fund is approaching $800 million in assets under management.

"I want to thank Leyline for this significant deposit to our ESC Fund. As two local Durham-based companies focused on the economic development of our communities, this investment will expand our reach helping more under-resourced populations across the state," said M&F Bank President and CEO James Sills.

Credo ESG Solutions, an advisory firm providing forward-thinking environmental, social and governance solutions to private-equity firms, guided Leyline in identifying the opportunity to invest in M&F's ESC Fund.

"We were established to advise thoughtful companies like Leyline on environmental, social and governance matters by helping them find opportunities to do well financially, while also doing good in their communities," said Brad Ives, CEO of Credo. "We connected Leyline to this opportunity to work with M&F Bank, because of the companies' shared dedication to equitable development."

About Leyline Renewable Capital
Leyline Renewable Capital invests in the development, construction and financing of sophisticated renewable energy projects. Backed by a team of seasoned investors with deep experience in the renewable industry, Leyline provides financing that bridges the gap between development and construction. By investing in the pre-construction phase of renewable energy projects, Leyline is able to accelerate the development process and help developers scale their business. Leyline leverages a broad base of experience in greenfield project development, design, construction and finance with an extensive network of relationships with industry leaders to provide support and capital for projects from concept to commercial operation. Leyline actively promotes anti-racism and diversity in the renewables industry and reports quarterly on its environmental impact and social change efforts. Learn more about Leyline Renewable Capital at https://leylinecapital.com.

About M&F Bank
M&F Bank is a state-chartered commercial bank founded in 1907 and has operated continuously since 1908. Branches are located in Durham, Raleigh, Charlotte, Greensboro and Winston-Salem, NC. M&F Bank is the only NC bank designated by the U.S. Treasury as a Community Development Financial Institution (CDFI) and Minority Depository Insititution (MDI). We enhance the wealth and well-being of the communities that we serve by providing competitive and holistic financial solutions, with particular emphasis on the financial needs of underserved populations and geographies. Learn more about M&F Bank at https://www.mfbonline.com/.

About Credo ESG Solutions
Credo ESG Solutions, Inc. is an advisory firm, based in Durham, N.C. and Austin, Texas, that provides a full range of forward-thinking environmental, social and governance (ESG) solutions to investment firms, financial institutions and operating companies. Credo helps clients fulfill investor and other stakeholder expectations by identifying, measuring and reporting on ESG performance and maturity, while unlocking value and mitigating risk. For more information, visit www.credoesg.com or contact Tom Goodrum, head of business development, at [email protected].

SOURCE Leyline Renewable Capital