Jon Cozens is a Managing Director at New Energy Risk, where he heads the company’s solar and battery storage practices as well as all new business development.
New Energy Risk is one of the leading underwriters of technology finance in the world, focused on renewable and efficient energy generating technologies. Using capacity and resources from its parent company, global insurance carrier XL Catlin (NYSE: “XL”, S&P Financial Strength: “A+”), New Energy Risk seeks to insure performance of renewable energy technologies to enable bankability and efficient financing. XL and New Energy Risk are strategic partners and share capacity with Munich Re, the world’s largest reinsurer. Over the past three years, New Energy Risk’s business has sustained 300% annual growth, and is on pace to insure the performance of over 100 MW of renewable energy systems in 2015, translating into $500 million in capacity. No other global insurer has deployed long-term capacity on that scale in the renewable energy technology market. Headquartered in the heart of Silicon Valley in Menlo Park, California, the company maintains offices in San Francisco and Manhattan.
Prior to joining New Energy Risk, Jon headed the finance group at a solar startup, BrightLeaf Technologies, where he raised $10 million in equity capital and $30 million of project finance capital. Jon has consulted in several markets, including crude oil derivatives with Cornerstone Global Commodities in London, private equity and investment banking, and in strategy consulting with McKinsey & Company, where he advised the company on bankability of battery storage technologies.
Jon began his career in utilities, with Southern California Edison and Pacific Gas and Electric Company, in San Francisco, where he held progressive roles in energy trading and procurement. While at PG&E, Jon structured, negotiated, and led deal teams that culminated in $2 billion of power purchase agreements and wholesale derivatives, and coordinated development of over 10,000 MW of renewable energy power plants, including two plants that each held the title of largest solar power plants in the world, when they each respectively came online.
Jon holds a BS in Electrical Engineering and an MBA from Lehigh University, and a M.Sc. in Finance from London Business School, where he was a MiF Full-Time Scholar and a winner of the Entrepreneur’s Prize for the LBS Venture Capital Investment Competition. Jon lives in San Francisco.