Investment from Oaktree Capital Management Will Support Growth for tenKsolar in Commercial Solar Market

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tenKsolar announces an investment from Oaktree Capital Management. The investment will support the growth of tenKsolar and accelerate its penetration of the commercial rooftop solar market.

 

tenKsolar, a rapidly growing producer of commercial rooftop solar solutions, today announced that it has received an initial investment of an undisclosed amount from the GFI Energy Group, a subsidiary of investment giant Oaktree Capital Management. Oaktree’s investment will help tenK ramp up its expanding production capacity and its sales and marketing efforts to increase its customer base and accelerate market penetration.

 

Dallas Meyer, Founder, President and CTO of tenK, said, “Oaktree is a highly respected, thoughtful investor with a long and successful track record in energy investing. Their endorsement is affirmation of our proven solution and the clear differentiation it brings our customers in an increasingly competitive and cost-focused market. Oaktree’s commitment gives our customers confidence that tenK has a long-term financial partner behind us to support our growth.”

 

According to tenK, their low-voltage technology generates up to 40% more kWh per square foot of roof space at a lower cost than conventional solar offerings. Overall, the company says, their system outperforms conventional solar power across all key metrics, including density of energy, cost, reliability, and safety.

 

Joel Cannon, Chief Executive Officer of tenK, added, “The commercial rooftop solar market is rapidly growing, and tenK is gaining market share as a result of our unique PV solution. Our low-cost, high energy-density system enables our customers to be cost-competitive in more markets. Oaktree’s investment provides us the capital necessary to quickly and efficiently expand to meet the growing demand for our products.”

 

Ian Schapiro, Managing Director and head of Oaktree’s GFI Energy Group, commented, “We targeted the commercial rooftop solar segment for our investment capital given its strong growth potential. tenK’s innovative solution is an ideal platform for us, as they have created a low-cost, high-density PV system well-suited to this market.”

 

Oaktree’s GFI Energy Group strategically invests in the electric and natural gas sectors, with a long history of investments in the renewable energy segment. The group partners with the management teams of leading companies well-positioned to capitalize on growth opportunities in their target markets. The group brings deep capital resources, clear strategic focus, and long-standing industry relationships to its portfolio investments.