Foss & Company Celebrates 40 Years of Excellence in Tax Credit Marketplace

Company honors legacy of innovation, honesty, diligence and diversity over the decades

SAN FRANCISCO, May 16, 2023 /PRNewswire/ -- For over four decades, Foss & Company has shown its expertise and ability to evolve with the changing tax equity landscape, all while serving investor and developer partners alike. This year, Foss & Company celebrates 40 years in the tax credit marketplace and thanks all of those that have supported and made the company the premier sponsor of federal and state tax credit funds in the country.

"An entrepreneurial spirit is the backbone of Foss & Company's ethos and is especially important today," says George Barry, president and CEO, Foss & Company. "Since Joe Foss founded the company, people have worked with us because we offer consistent, honest and innovative solutions not only for our institutional investor partners, but our developer partners as well. This, along with the smart, passionate people on our team, is what separates us from the crowd and makes us the best in the business."

The success of Foss & Company is also evident in the company's significant milestones over the decades, including: 

• Deploying over $8 billion of tax credit equity and having over $1 billion in tax credit currently under management
• Closing on projects expected to generate enough renewable energy to offset 32,146 metric tons of CO₂ in just the last year alone
• Dozens of transactions with institutional clients that have invested in Foss funds annually for more than a decade, a testament to the quality of our work and our knowledge in this space
• Leading the revival of communities nationwide through our investment in over 20 million sf of historic buildings being redeveloped and brought back to life
• Partnering with repeat developer clients, showcasing the dedication of our team and providing continued value
• Crossing the 40-employee mark, with a large number of hires in the last two years to manage Foss & Company's growth, as technological advancements and new legislation like the Inflation Reduction Act (IRA) have led to new investors entering the marketplace

"I have worked with Foss & Company since 2006 on a variety of historic preservation projects, always with good results. They are a great "one-stop" shop option and have been an excellent partner for us on multiple projects," said Edwin Gaskin, developer and owner, Echelon Resources, Inc. "They have an organized due diligence list that serves as a navigable roadmap, proving their commitment to the success of each project. Not only is the Foss & Company team honest and creative, but they are also smart and responsive. We congratulate them on four decades of successful business and look forward to our continued work with the Foss & Company team."

Throughout its history, Foss & Company has shown a commitment to excellence, making it the driving force behind its success. At its inception in 1983, Foss & Company acted primarily as a broker, connecting institutional investors to developers. Today, the company is a vertically integrated fund sponsor managing almost 95% of its investments through its proprietary and multi-investor funds, adding tremendous value to investors. This is made possible by our dedicated acquisitions and underwriting teams and asset managers who carefully evaluate projects using market research, capital structure, performance history, budgets, and attention to detail.

"We have enjoyed working with Foss over the past three years," said Brian Dunn, COO at Summit Ridge Energy, the nation's leading owner operator of community solar projects. "Through dozens of projects, Foss has shown integrity and professionalism in finding the best tax equity solutions for us. The projects we have partnered on have created jobs, spurred investment in local economies and increased access to clean energy. Congratulations to the Foss team on 40 years in business and we look forward to continuing to work with them for many years to come."

Foss & Company would like to thank all those who have worked with the company over the past four decades. This 40th anniversary is a testament to the company's resilience, dedication to its clients, and its ability to adapt to an ever-changing landscape. The company is proud of its past and more than excited for its future, continuing to make a positive impact on the industry for many years to come.

Resources

• Listen to our anniversary podcast, featuring CFO, Jack Mans; Managing Director, John Bowman; and AVP of Renewable Energy Investment Operations, Annie Amrhein, here.
• Read more on Foss & Company's history and the company's outlook on the future here.
• Take a look inside the company as leaders across the organization reminisce on the past and look towards the company's future here.

About Foss & Company
Founded in 1983, Foss & Company is a national tax equity investor and fund sponsor that has deployed over $8 billion in tax equity on behalf of insurance, banking, and other large corporate clients into tax credit enhanced transactions including renewable energy and advanced energy production facilities as well as historic rehabilitation projects. Foss & Company is a full-service advisor with proven expertise navigating the world of tax equity investments. For additional information, visit www.fossandco.com.

SOURCE Foss & Company