SUSTAINABILITY MILESTONE ACHIEVED: POSIGEN ACHIEVES B CORP CERTIFICATION

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Dec 19, 2023, 07:47 ET

Residential Solar Provider Recognized for Commitment to Social and Environmental Justice

NEW ORLEANS, Dec. 19, 2023 /PRNewswire/ -- PosiGen, the nation's leading provider of renewable energy and energy efficiency solutions for low-to-moderate income (LMI) households, is now a certified B Corporation. The recognition is given only to companies who meet the highest standards of verified social and environmental performance, public transparency, and legal accountability, and aspire to use the power of markets to solve social and environmental problems. Since its founding in 2011, PosiGen has worked to close the clean energy affordability gap in lower income communities by reducing utility bills while providing the environmental benefits of clean energy through rooftop solar and energy efficiency upgrades.

Ben Healey, PosiGen CFO commented, "Our business model intrinsically focuses on social and environmental justice. Completing this transition to a Public Benefit Corporation and a certified B-Corp identifies our products and services as a force for good, which directly aligns with our mission to make solar available to all – especially underserved communities. PosiGen exists to make going solar simple and affordable, for the benefit of people and the planet."

To become a B Corporation, PosiGen met and/or surpassed rigorous standards of verified performance, accountability, and transparency on a range of social, environmental and governance criteria. PosiGen's environmentally responsible business practices resulted in high scores in the B Impact Assessment, where the company outperformed other U.S. businesses in the environment category. With 160MW of deployed solar capacity, PosiGen has expanded access to renewable energy and conserved resources for tens of thousands of customers to date. PosiGen rooftop solar panels have produced more than 750 million kWh of renewable energy to date.

PosiGen also outperformed in the "workers and customers" categories of the B Impact Assessment. Since its founding in 2011, PosiGen has served more than 25,000 homeowners in California, Connecticut, Florida, Louisiana, Maryland, Massachusetts, Mississippi, New Jersey, New York, Pennsylvania, Rhode Island, Washington D.C., and West Virginia. The company delivers on its mission to make a positive impact in underserved communities, offering annual household savings of over 15% on energy bills, with an estimated $190 million in customer savings to date. These social benefits are intrinsically linked to the company's positive environmental impact, with access to clean, reliable energy expanding to more homes and communities, helping to reduce and avoid GHG emissions. The company provides good job opportunities to more than 600 people, with more than 65% of its staff identifying as women and/or Black, Indigenous, and People of Color (BIPOC).

Peter Shaper, PosiGen CEO added, "Certification by the B-Lab not only validates the hard work of the dedicated PosiGen workforce for over a decade now, but will also help the company continue to grow in attracting top talent, building stronger partnerships and demonstrating how we make a meaningful difference for the communities that we serve."

The certification and auditing process was overseen by B Corp's nonprofit partner, B Lab, which allows companies to establish and maintain socially and environmentally sustainable practices over time. To earn a B Corp certification, a company must:

Demonstrate high social and environmental performance by earning a B Impact Assessment score of 80 or above and passing B Lab's risk review.
Make a legal commitment by changing their corporate governance structure to be responsible to all stakeholders, not just shareholders.
Exhibit transparency and allow information regarding performance to be publicly available and measured against B Lab's standards on B Corp's website.

About PosiGen
PosiGen is the nation's leading residential solar and energy efficiency provider for low-to-moderate income homeowners. Headquartered in Louisiana since its founding in 2011, PosiGen has served more than 25,000 residential customers in California, Connecticut, Florida, Louisiana, Maryland, Massachusetts, Mississippi, New Jersey, New York, Pennsylvania, Maryland, Massachusetts, Rhode Island, Washington D.C. and West Virginia. The PosiGen family has more than 600 direct employees and supports more than 150 contract workers. PosiGen's Partner Program, which helps value-aligned partners offer PosiGen's best-in-class lease product, has helped 2,000+ homeowners go solar since its inception in 2021. PosiGen stays true to its mission to make solar energy affordable for homeowners of all income levels, while helping customers achieve greater fiscal autonomy and energy independence through lower utility bills. Learn more about PosiGen's Solar For All mission at www.posigen.com.