Crux Facilitates Sale of Solar and Battery Storage ITCs from 174 Power Global

Crux, the capital markets technology company for the clean economy, announced the successful facilitation of an investment tax credit (ITC) transfer for 174 Power Global’s Ho’Ohana project, a co-located solar and battery energy storage system located in Oahu, Hawaii. Foss & Company, a leading institutional investment fund sponsor, represented an anonymous tax credit buyer in the transaction.

The Ho’Ohana project plays a critical role in bolstering grid stability on Oahu and aligns with Hawaii’s ambitious goals for renewable energy adoption. The battery storage system’s robust safety profile and long-term warranties provided added confidence for investors, particularly given the unique technical and regulatory challenges of deploying energy storage in an island environment.

Crux served as a hands-on transaction partner for 174 Power Global, helping to evaluate potential buyers, providing proprietary market data to guide the deal, and assisting with internal approvals. Crux handled initial investor outreach and vetting, helping 174 Power Global to close the transaction while the project was still under construction and commissioning. They also leveraged Crux’s extensive network of third-party advisors to ensure counterparties had trusted partners to support diligence and transaction closing. 

Transactions like Ho’Ohana demonstrate how tax credit transferability is expanding access to capital for advanced and resilient clean energy projects nationwide. Transferable tax credits have become an integral part of the broader, interconnected financing market behind the U.S. clean energy and manufacturing sector. Last week, Crux released its first debt capital report detailing this intersectionality within financing, and critical lending and investment dynamics at play in 2025.

“Given the large size of the project and unique investment parameters, 174 Power Global needed a partner with a strong understanding of both market challenges and the transferable tax credit space,” said Alfred Johnson, CEO and co-founder of Crux. “We’re proud to have helped bring together the right counterparties to enable this transaction and accelerate the deployment of grid-supporting clean energy infrastructure.”

Crux launched in early 2023 to supercharge the clean economy by making capital markets more liquid, efficient, and intelligent. The company first tackled the nascent transferable tax credits market: developing the central marketplace for transfers; assembling an expert team; and providing leading market intelligence to help developers and manufacturers exchange tax credits for private sector investment into their companies. To date, Crux has facilitated more than 75 transactions totalling billions of dollars in tax credits across advanced manufacturing, battery storage, bioenergy, critical minerals, geothermal, hydropower, microgrids, solar, and wind. More than 630 market participants use Crux’s platform. 

In March 2025, Crux launched its debt marketplace, opening up access to a range of debt products alongside Crux’s powerful transferable tax credit marketplace. By integrating tax credit transfers with a broader suite of financing solutions, Crux helps developers, manufacturers, lenders, tax credit buyers, and intermediaries navigate all stages of capital formation. 

The debt marketplace already includes a network of over 100 developers and manufacturers who are raising over $11 billion in debt capital. More than 90 banks, credit funds, asset managers, insurance companies, pensions, and family offices are part of the Crux network and have collectively issued over $1.3 billion in term sheets for debt products in the last quarter alone. 

Crux | https://www.cruxclimate.com/

174 Power Global | https://174powerglobal.com

Foss & Company | www.fossandco.com