Published

2 years ago

December 14, 2023

Alice Rush

iSun has closed on an $8 million senior secured loan with Decathlon Capital Partners to fully refinance the prior senior secured convertible facility which had become dilutive.

The transaction carries a 48-month term and is a straight debt instrument, avoiding any equity dilution. Debt service payments begin at a smaller initial level and increase over the course of the loan in several step-ups, tracking the company’s revenue growth.

Funds will be utilized as follows:

$6 million for the retirement of existing Senior Secured Convertible Notes previously issued to Anson Investment Master Fund, LP and Anson East Master Fund, LP;
$1.5 million to the balance sheet for working capital; and
$0.5 million in transaction fees.

“This is a huge milestone for iSun, and I want to say thank you to our new financing partners at Decathlon and to our employees for all their hard work in getting this across the finish line,” says Jeffrey Peck, iSun’s chairman and CCO. “This debt facility validates our commitment to accelerating the transition to clean energy as we continue our fight against climate change while providing an opportunity to strengthen our balance sheet.”

England & Company acted as exclusive advisor and placement agent for the financing and Merritt & Merritt acted as the company’s legal counsel.

The post iSun Closes on $8 Million Secured Loan with Decathlon Capital Partners appeared first on Solar Industry.

iSun Closes on $8 Million Secured Loan with Decathlon Capital Partners

Renewable Energy

Renewable Energy Concepts Can’t Violate the Laws of Physics

Published

9 hours ago

February 28, 2026

Alice Rush

In the early days of 2GreenEnergy, my people and I were vigorously engaged in finding solid ideas in cleantech that needed funding in order to move forward.

I vividly remember a conversation with a guy in Maryland who was trying to explain the (ostensible) breakthrough that he and his team had made in hydrokinetics. When I was having trouble visualizing what we was talking about, he asked me to “think of it as a river in a box.”

“Oh!” I exclaimed. “You mean you take a box full of standing water, add energy to it get it moving, then extract that energy, leaving you with more energy that you added to it.”

“Exactly.”

I politely explained that the laws of physics, specifically the first and second laws of thermodynamics, make this impossible.

He wasn’t through, however, and insisted that, in his office, his people had constructed a “working model.”

Here’s where my tone descended into something less than 100% polite. I told him that he may think he has a working model, but he’s wrong; if he believes this, he’s ignorant; if he doesn’t, but is conducting this conversation anyway, he’s a fraud.

“But don’t you want to come see it?” he implored.

“No. Not only would not fly across the country to see whatever it is you claim to have built, I wouldn’t walk across the street to a “working model” of something that is theoretically impossible.”

—

I tell this story because the claim made at the upper left is essentially identical. You’re pumping water up out of a stream, and then claiming to extract more energy when the water flows back into the stream.

Of course, social media today is rife with complete crap like this. We’ve devolved to a point where defrauding money out of idiots is rapidly replacing baseball as our national pastime.