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Hannon Armstrong Announces Organizational Changes on Leadership Team

February 21, 2019

ANNAPOLIS, Md.--(BUSINESS WIRE)--Feb 21, 2019--Hannon Armstrong Sustainable Infrastructure Capital, Inc. (“Hannon Armstrong,” “we,” “our,” or the “Company;” NYSE: HASI), a capital provider focused on sustainable infrastructure markets that address climate change, today announced organizational changes in its finance leadership effective March 1, 2019.

Brendan Herron will remain as an executive vice president and take on an expanded leadership role focusing on Hannon Armstrong’s strategic growth initiatives, with a particular emphasis on the Company’s expanded joint venture platforms.

“Brendan has done an outstanding job as our Chief Financial Officer. Having originated the idea and strategy for taking the Company public, his leadership enabled a successful $167 million IPO in 2013 and growth to our current $1.4 billion market cap. He has been instrumental in the evolution of our business during this period of transformative changes in the electric power sector,” said Jeffrey Eckel, Hannon Armstrong President & CEO. “And those changes are leading to new strategic opportunities including our joint venture arrangements like the announced Hannon Armstrong Sustainable Real Estate and SunStrong arrangements, which expand our origination reach, but also require more strategic and entrepreneurial skills in addition to transactional skills. These are some of Brendan’s strengths, and his contributions to our strategic initiatives will be an integral part of our continued growth and success.”

Succeeding Mr. Herron will be Jeffrey A. Lipson, a 30-year veteran of the finance and banking industry who has held multiple leadership roles in banking and treasury. Mr. Lipson joined Hannon Armstrong in January 2019 as the Deputy Chief Financial Officer. Previously, Mr. Lipson served as Chief Executive Officer of Congressional Bank. He has also served as Senior Vice President and Treasurer of CapitalSource and Senior Vice President of Corporate Treasury at Bank of America and its predecessor FleetBoston Financial.

“I am delighted to welcome Jeff Lipson to Hannon Armstrong,” said Mr. Eckel. “This is the perfect time to add to our finance team as we are building an exciting and important business and Jeff brings first-class banking, corporate finance and treasury skills, which will enhance our ability to grow.”

“Adding Jeff’s skills to our team, further strengthens our management team and I am excited to work with him,” said Brendan Herron. “With Jeff onboard, I will be able to focus on how Hannon Armstrong captures the enormous opportunity to finance climate change solutions.”

“I am elated to join Hannon Armstrong,” said Mr. Lipson. “The Company’s leadership, intellect, and strategy provide a tremendous opportunity to build upon the success that Jeff, Brendan and the team have achieved; and I look forward to succeeding Brendan as CFO as we work together to expand the business.”

About Hannon Armstrong

Hannon Armstrong (NYSE: HASI) focuses on solutions that reduce carbon emissions and increase resilience to climate change by providing capital and specialized expertise to the leading companies in the energy efficiency, renewable energy and other sustainable infrastructure markets. Our goal is to generate attractive returns for our shareholders by investing in a diversified portfolio of assets and projects that generate long-term, recurring and predictable cash flows or cost savings from proven commercial technologies. Hannon Armstrong is proud to be the first U.S. public company exclusively focused on financing solutions to climate change. We are based in Annapolis, Md. For more information, please visit www.hannonarmstrong.com. Follow Hannon Armstrong on LinkedIn and Twitter @HannonArmstrong.

Forward Looking Statements

Some of the information in this press release contains forward-looking statements and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, words such as “believe,” “expect,” “anticipate,” “estimate,” “plan,” “continue,” “intend,” “should,” “may,” “target,” or similar expressions, are intended to identify such forward-looking statements. Forward-looking statements are subject to significant risks and uncertainties. Investors are cautioned against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ materially from those described in the forward-looking statements include those discussed under the caption “Risk Factors” included in our Annual Report on Form 10-K for our fiscal year ended December 31, 2017, which was filed with the U.S. Securities and Exchange Commission (“SEC”), as well as in other reports that we file with the SEC.

Forward-looking statements are based on beliefs, assumptions and expectations as of the date of this press release. We disclaim any obligation to publicly release the results of any revisions to these forward-looking statements reflecting new estimates, events or circumstances after the date of this press release.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190221005923/en/

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SOURCE: Hannon Armstrong Sustainable Infrastructure Capital, Inc.

Copyright Business Wire 2019.

PUB: 02/21/2019 04:15 PM/DISC: 02/21/2019 04:15 PM


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