Fintech startup Crux announced that it has closed a $500 million debt financing facility with Nuveen’s infrastructure credit investment platform, with the new capital to be used to scale its commercial participation in the clean energy financing market through tax driven investments.

Launched in 2023, Crux provides capital markets solutions across advisory, investments, technology, and intelligence, aimed at making funding options for clean energy projects more accessible. Initially focused on the transferable tax credit market, Crux has expanded across debt, preferred equity, and tax equity.

According to Crux, the new financing comes amidst a need for domestically produced clean energy in the U.S., with surging electricity demand driven by factors including AI and electrification, alongside global oil prices affected by ongoing geopolitical instability.

Alfred Johnson, co-founder and CEO of Crux, said:

“We founded Crux to unlock bottlenecks in the financing of clean and critical infrastructure, and this facility marks a major milestone in that mission. Our multi-disciplinary team, market-leading data, and AI-powered platform give us advantages in underwriting and executing deals across a growing, diversified pipeline.”

The tax equity market reached nearly $37 billion in 2025, growing by 23% over the prior year. Crux said that the new financing will enable it to scale its role as a general partner in tax driven investment strategies, including in hybrid tax equity transactions, a structure that includes features of both transferability and traditional tax equity partnerships, which it said now account for more than 75% of all tax equity investments.

Don Dimitrievich, Head of Nuveen Energy Infrastructure Credit, said:

“Crux has built an innovative platform at the forefront of the renewable energy and sustainable infrastructure markets. We are excited to partner with this outstanding team and platform to accelerate the growth of renewable and infrastructure supply chain companies and support the continued development of a growing tax credit market.”