SUNation Energy, Inc., a prominent provider of solar energy and backup power solutions for residential, commercial, and municipal clients, has announced the establishment of a new $1.0 million line of credit agreement with MBB Energy, LLC. MBB Energy is a related party affiliate, as it is controlled by Scott Maskin, a key figure associated with the Company. Details of the agreement have been filed with the SEC as an exhibit to SUNation’s current report on Form 8-K, dated April 17, 2025.
Jim Brennan, Chief Financial Officer, said in a statement, “We have made significant progress in strengthening our financial profile, with a primary focus on strengthening our balance sheet and enhancing future cash flows, while meeting our financial obligations on a timely basis. Our ability to access this fresh capital on favorable terms provides us with greater financial flexibility to invest in areas that support our long-term growth initiatives. We appreciate the continuing support of MBB.”
This revolving credit facility, available for one year from the agreement date, is designed to support SUNation’s working capital and general corporate needs. The Company may draw loans up to the full $1.0 million limit, with any borrowed amounts accruing interest at an annualized rate of 8%. With this credit facility now in place, SUNation plans to explore a broader commercial banking relationship. The goal is to secure a larger commercial line of credit to support the company’s long-term growth strategy and operational flexibility as it continues expanding its clean energy footprint.
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