PR93754

NORWALK, Conn., Dec. 17, 2021 /PRNewswire=KYODO JBN/ --

GameChange Solar Holdings Corp. ("GameChange Solar", or "GameChange"), a

leading provider of racking and tracker systems for utility scale solar power

plants, announced today that Koch Strategic Platforms ("KSP"), a subsidiary of

Koch Investments Group, has made a $150 million investment in GameChange to

support the company's strategic development goals.

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GameChange Solar has grown significantly since its founding in 2012, from a

regional provider of fixed tilt racking systems to a global provider of

comprehensive utility and commercial scale solar mounting solutions, trackers

and software to renewable developers and Engineering, Procurement, and

Construction ("EPC") firms. The company was ranked as the 3rd largest solar

tracker company domestically and the 6th largest vendor globally in 2020 by

Wood Mackenzie. The investment by KSP will help fuel continued growth in 2022

and beyond.

GameChange's Chief Financial Officer, Mark Gibbens, said, "We are excited to be

able to launch this next phase of our growth with the validation of a major

investor in the energy transformation space. Koch offers not just the capital

to grow, but the opportunity to mutually leverage the capabilities of each

organization."

KSP has focused on energy transformation investments as one of its core

verticals, with strategic investments in companies with strong tailwinds that

are disrupting the market. Most recently, KSP has announced investments in the

battery value chain and new sources of energy storage and infrastructure.

"KSP is excited to invest in GameChange Solar as they bring their advantaged

solar energy solutions to market," said Jeremy Bezdek, managing director of

Koch Strategic Platforms. "We believe these offerings will continue to

positively disrupt the industry and look forward to helping accelerate that

growth in the future."

Transaction Highlights:

    -- $150 million preferred stock investment which, if converted, would

       represent a minority stake in GameChange Solar;

    -- Investment follows extensive due diligence into GameChange's advanced

       solar mounting solutions, tracking and software, historical performance,

       and project pipeline; and

    -- The parties continue to explore strategic partnerships in key areas of

       focus, supporting additional growth opportunities for GameChange Solar

       and Koch.

In addition to the new capital investment, GameChange, along with several Koch

Industries subsidiaries, is committed to working collaboratively to explore

strategic synergies across key companies, including KBX, which provides global

transportation, logistics and technology solutions through high-tech tools and

services, as well as Koch Engineered Solutions ("KES").

The net proceeds of the investment will be used by GameChange Solar to pursue

the following objectives:

    -- Continue to expand its established market share in the United States and

       globally;

    -- Accelerate product research and development, including margin-enhancing

       balance of system solutions, a new 2P tracker technology, a new fixed

       tilt system, and advanced tracker software;

    -- Expand a high quality and diverse customer base; and

    -- Expand international deployment and manufacturing presence.

Strategic Alignment with Koch Businesses

GameChange is exploring the opportunity to provide mutually beneficial

alignment with several Koch Industries businesses. For example, several

businesses within Koch could assist in the following ways:

    -- Work to enhance the management of GameChange's extensive global supply

       chain, leveraging the scale and sophistication of KBX;

    -- Leverage advances in energy management software and solutions developed

       by Koch companies; and

    -- Ensure that the company has visibility into the rapidly developing

       market for alternative energy solutions by leveraging the existing

       and future investments of Koch Strategic Partners.

Citi acted as sole placement agent and strategic advisor and Goodwin Procter

acted as legal counsel to GameChange on the transaction. Jones Day acted as

legal counsel to Koch.

About GameChange Solar

GameChange Solar provides comprehensive utility and commercial scale solar

mounting solutions, tracker and software to renewable developers and

engineering, procurement and construction firms globally. The Company was

founded in 2012 and has grown rapidly to achieve significant market share (top

3 in the U.S. and 6th globally) having sold over 16 GW of projects globally.

GameChange offers a suite of products and proprietary software, including its

patented Genius Tracker(TM), which enables fast installation and low total

project cost with high quality construction materials for one and two silicon

module portrait systems, as well as supporting all FirstSolar(TM) modules.

GameChange also offers fixed tilt solutions for post and ballasted systems.

Finally, the Company is developing balance of system solutions, and other

innovative solar mounting and tracker solutions.

GameChange has a presence on every inhabited continent and is poised for

continued expansion across the U.S. and international landscape. GameChange

utilizes a capital light contracted manufacturing model in combination with a

flexible supply chain strategy to increase profitability while reducing working

capital requirements. The Company's global headquarters is in Norwalk, CT.

https://www.gamechangesolar.com

About Koch Strategic Platforms

With offices in Atlanta and Wichita, KSP desires to be the preferred investment

partner of growth focused, strategic companies who are innovating in industries

with disruptive potential. Created in 2020, the KSP team pursues public and

private investments with companies where long-term mutual benefit can be

realized. https://www.kochind.com/

For further information, contact:

GameChange Solar

Mark Gibbens, Chief Financial Officer

investor.relations@gamechangesolar.com

+1 (203) 769-3793

Koch Industries

Christin Fernandez, Director of Communications

christin.fernandez@kochps.com

+1 (202) 879-8546

SOURCE  GameChange Solar