HDM Renewable Finance, a specialist in residential solar and battery storage financing, has changed its name to Maxwell Power and announced an additional investment of $750 million from Fairtide Partners.
With this recent investment, Fairtide has now committed to more than $1 billion for projects developed by Maxwell.
Fairtide worked with HDM Renewable Finance since its founding in 2018 and continues to support the company as it evolves into a full-service consumer-facing company now known as Maxwell Power. The full rebrand is planned for the fall of 2026.
In its eight years in business, the company has helped power 20,000 homes solar and battery storage with pre-paid power purchase agreements (PPAs). The way the pre-paid agreement works is that, in exchange for a one-time payment, Maxwell maintains the system and guarantees 20 years of solar energy and battery backup. If the system doesn’t produce, the customer doesn’t pay, according to Maxwell.
With the increased investment, Maxwell plans to expand into new state markets that have high and rising energy costs.
[See also: Solar and energy storage: solutions to rising energy prices.]
“Skyrocketing utility and gasoline costs are pinching everyone’s pocketbook,” said Dustin Dunaway, Maxwell’s chief revenue officer. “Fairtide’s $1 billion commitment allows us to help more homeowners and businesses get affordable energy they can count on.”
Fairtide Partners, a firm that specializes in venture and growth equity investments in companies focused on sustainability, cited Maxwell’s origination, underwriting and management track record as the key catalysts for its additional capital commitment.
Fairtide’s managing partner, Nat Kreamer, was co-founder of SunRun and known for having sold the first residential PPA. He is a lifetime chairman emeritus of the Solar Energy Industries Association and holds a place on Forbes Solar 100 list.
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