By: Pat Sweet
Fairfield Capital has announced it arranged and closed almost $14 million in alternative energy lease transactions in September for a client which manufactures hydrogen fuel cells used to retrofit material handling equipment originally placed in service with legacy lead-acid batteries.
Hydrogen fuel cells offer significant economic and productivity improvements for operators of large lift truck fleets and offer the additional benefit of qualifying for a 30% Federal investment tax credit.
Dana Pasternak, a managing director and founder of Fairfield Capital, said the deal formed part of a strategy designed to fulfil “our mandate to establish a captive finance company and a private-label leasing product for our client.”
“Next year, we anticipate a run rate of approximately $12 million/month to support the sales activity of our client. We are currently initiating discussions and will soon begin negotiating program agreements with a number of major leasing companies that will form the nucleus of the program,” Pasternak explained.
Fairfield Capital, which was founded in 2004, provides capital markets solutions for the equipment finance and leasing industry.