Foley Hoag Represents Spring Lane in Closing of Two Distributed Clean Infrastructure Investments

January 14, 2020

Foley Hoag LLP advised Boston-based private equity firm Spring Lane Capital in 2019 on the closing of two investments: $18 million in dedicated project finance and working equity capital for Cambrian Innovation and affiliates, and $21.4 million in capital commitments for Atlas Organics, Inc. and affiliates. Cambrian plans to use its funds to expand into new market verticals and to accelerate its novel service-based offering, the WEPA (Water-Energy Purchase Agreement).  Atlas Organics plans to use its funds as equity in future solid waste diversion projects, as well as corporate support for the company. 

Cambrian Innovation, based in Massachusetts, is a commercial provider of distributed wastewater and resource recovery solutions. The company’s EcoVolt product suite applies cutting-edge biotechnology and engineering to convert wastewater into clean water and renewable energy for industrial manufacturers and independent communities. Through its WEPA model, Cambrian installs and owns EcoVolts plants, selling only treatment services, clean water, and clean energy to the customer. 

South Carolina-based Atlas Organics is a leading commercial processor and composter providing municipal partners with regenerative solutions for diverting solid waste from landfills. 

Spring Lane Capital focuses on providing deployment capital – project finance and growth capital in tandem – for smaller-scale, distributed solutions in the energy, water, food and waste industries. The company’s financial model seeks to tap into some of the fastest growing segments of these markets that more traditional forms of project capital cannot access due to their scale and the limitations of existing investment models.

Foley Hoag attorneys Mark Barnett, Tom Draper, Anne Seymour, Nick Romanos, Max Tenney, Sara Mattern and Anna Snook advised Spring Lane in the transactions.

About Foley Hoag LLP

Foley Hoag provides innovative, strategic legal services to public, private and government clients across the globe. We have premier capabilities in the life sciences, healthcare, technology, energy, professional services and private funds fields, and in cross-border disputes. The diverse backgrounds, perspectives and experiences of our lawyers and staff contribute to the exceptional senior level service we deliver to clients ranging from startups to multinational companies to sovereign states. For more information, visit www.foleyhoag.com or follow @FoleyHoag on Twitter.