Welcome!

News Feed Item

Geostellar, PENSCO Launch Tax-Advantaged Solar Market Crowdfunding Campaign

Geostellar, America’s first and largest online solar marketplace, announced today that it is partnering with PENSCO Trust Company, a leading alternative asset custodian, to crowdfund capital for the marketplace through the Geostellar Solar Energy Market Growth Fund.

Leveraging the equity crowdfunding provisions of the Federal JOBS Act, accredited investors can now participate in the $1 million Geostellar campaign at Return on Change (ReturnOnChange.com/Geostellar), an equity crowdfunding platform for “triple bottom line” companies that value the positive societal and environmental benefits of their work along with the financial profits.

“Until recently, only professional, well-connected investors could participate in the financing of promising ventures,” said David Levine, CEO of Geostellar. “With this offering, we’re setting a new standard for the availability, transparency and accountability of private companies in the sale of tax-advantaged securities.”

Geostellar has quickly raised more than $600,000, surpassing the reserve set for the campaign. A unique variable cap on the promissory note conversion price, which values the company at two-times the amount of money raised in the offering, balances risk and reward for investors. The security offering also provides all investors with such customary terms as anti-dilution provisions and superior liquidation preferences that are typically negotiated by sophisticated investors. CrowdCheck, an investor protection company for crowdfunding and online investments, is performing corporate due diligence on Geostellar for the benefit of investors.

“As more and more investors look for products that are socially and environmentally responsible to generate income, self-directed IRAs have grown in popularity over the last few years as a way to invest in privately held companies,” said PENSCO CEO Kelly Rodriques. “As a result, we’ve seen an increase in the number of investors that are using self-directed IRAs to invest in alternative investments in areas like solar energy and private company stock. We are excited about our partnership with Geostellar on this offering.”

In addition, four energy and technology industry leaders have joined Geostellar’s Board of Directors to ensure accountability to all stakeholders and to uphold the highest standards of corporate governance. With the CEO of the company, David Levine, serving as Chairman, the Board now includes the following members:

  • Paul Feldman is an experienced executive in the energy business and technology industry who currently serves as Director (past Chairman) of the Midwest ISO, which manages electricity generation, transmission, monitoring and optimization across utilities in the midwest US, Board Leadership Fellow for the National Association of Corporate Directors and Advisor to the US Department of Energy. Among other roles, Mr. Feldman has served as General Manager for Enterprise Products at Novell, CEO of Columbia Energy, CEO of Utilicorp Energy Services and Vice President at AT&T.
  • Tracy McKibben is a seasoned financial strategist with over 15 years experience in the energy sector who currently serves as the President & CEO of MAC Energy Advisors and Partner at Sphaera Energy. Previously, Ms McKibben served as a Managing Director and Head of Environmental Strategies for Citigroup Global Markets and advised the President of the United States, the National Security Advisor and Cabinet Secretaries as the Acting Senior Director of the National Security Council the Director of European Economic Affairs and EU Relations for the National Security Council. Upon first entering government service, Ms McKibben was appointed Special Counsel to the US Department of Commerce by the Secretary of Commerce Donald Evans. She began her career practicing law as a corporate litigation counsel for Akin, Gump, Strauss, Hauer & Feld after earning her Juris Doctor at Harvard Law School.
  • Scott Rotruck is a key leader of Spilman Thomas & Battle, PLLC’s Government Relations, Energy and Shale Gas Practice Groups as the Director of Energy & Transportation Services. Mr. Rotruck’s prior experience includes serving as Vice President of Corporate Development and State Government Relations at Chesapeake Energy, fifteen years as an executive with Anker Energy and CONSOL, ten years in the railroad industry with CSX and Norfolk Southern Corporation and service in higher education as the Economic Development Director and Senior Advisor to the President of West Virginia University, where he also taught entrepreneurship in the WVU College of Business and Economics.
  • Howard Teich, Ph.D. is an organizational depth psychologist, leadership coach and group facilitator serving both emerging companies in the Bay Area and established enterprises such as Clorox, Intel, HP, Microsoft, SAP and Wells Fargo. Dr. Teich is in private practice as a therapist and is the author of Solar Light, Lunar Light, a seminal work on complementarity in archetypal consciousness. In addition to his doctorate in clinical psychology, Dr. Teich holds a masters degree in business from the University of Oregon.

“We are proud to host Geostellar’s crowdinvesting campaign on our platform,” said Sang Lee, CEO of Return on Change. “Geostellar’s disruptive technology in the fast-growing solar energy sector creates an appealing opportunity for our investor community.”

Federal securities law defines an accredited investor as one of the following:

  • A natural person who has individual network, or joint net worth with the person’s spouse, that exceeds $1 million at the time of the purchase, excluding the value of the primary residence of such person.
  • A natural person with income exceeding $200,000 in each of the two most recent years or a joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year.

About $18 trillion are currently held in tax-qualified retirement accounts such as IRAs, 401(k)s and Roth IRAs. This represents an important new source of capital to finance the growth of socially and environmentally positive ventures, create jobs, fuel innovation and grow the economy. The funds raised in this equity crowdfunding campaign will be used to develop, release and promote the next generation of the Geostellar solar energy marketplace and Solar Mojo app for iOS, an important new multi-user platform that directly connects homeowners, community partners, solar providers and independent agents, scheduled for launch on May 22nd at the US Department of Energy SunShot Grand Challenge Summit 2014.

About Geostellar

Geostellar is America’s first and largest online solar marketplace, helping homeowners secure the best deal on solar energy by comparing and tailoring a wide variety of installation and financing plans. Through advanced simulations on an intuitive social platform, Geostellar lowers the cost of solar, making it more competitive with conventional electricity. The result is more accessible, affordable and plentiful clean solar power for America. The company is the recipient of numerous awards, including selection as an IHS Energy Innovation Pioneer, the Global Cleantech100, the Global Cleantech Cluster Association’s Best of Solar and the AlwaysOn GoingGreen Global 200. Visit www.geostellar.com.

About PENSCO

PENSCO Trust Company has been helping investors use their retirement account funds to invest in real estate, private equity and other non-exchange traded assets since 1989. As the industry’s premier self-directed IRA custodian, we know exactly what it takes to buy, hold and sell alternative assets in retirement accounts.

As the trusted custodian of over $10 Billion in assets, PENSCO works with over 50,000 clients across the U.S.

To learn more, visit www.pensco.com or call (855) 291-4733.

About Return on Change

Return on Change is an online crowdinvesting platform connecting startups and investors. Working with companies in the CleanTech, EdTech, Life Science, Tech, and Social Enterprise industries, their mission is simple- to efficiently connect entrepreneurs and investors through technology and crowdinvesting from front to back.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it m...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet and...
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
"Tintri was started in 2008 with the express purpose of building a storage appliance that is ideal for virtualized environments. We support a lot of different hypervisor platforms from VMware to OpenStack to Hyper-V," explained Dan Florea, Director of Product Management at Tintri, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, explained the best practices of continuous testing at high scale, which is rele...
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of D...
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus o...
"We're bringing out a new application monitoring system to the DevOps space. It manages large enterprise applications that are distributed throughout a node in many enterprises and we manage them as one collective," explained Kevin Barnes, President of eCube Systems, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at Logz.io, will explore the value of Kibana 4 for log analysis and will give a real live, hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He will examine three use cases: IT operations, business intelligence, and security and compliance. This is a hands-on session that will require participants to bring their own laptops, and we will provide the rest.