Sep 12, 2018

​Marathon Capital Announces Successful Capital Raise for Blue Source, LLC

CHICAGO, IL – Marathon Capital is pleased to announce the successful completion of a capital raise for Blue Source, LLC (“Bluesource”) by GEF Capital Partners
(“GEF Capital”). Bluesource, headquartered in Utah, is a leader in the development and sales of environmental attributes in North American markets
and is the longest-standing firm of its type, having the largest and most diverse portfolio of available environmental assets. Since 2001, the company
has been developing projects for the voluntary and compliance environmental markets.

Marathon Capital served as exclusive financial advisor to Bluesource in the transaction, assisting the company in the review, assessment and ultimate negotiation
of various strategic alternatives from prospective investors.

“Bluesource is a unique company in a complex industry. Marathon did an excellent job of articulating the investment opportunity, educating potential investors,
and executing a thorough and ultimately successful process,” said Eric Townsend, Bluesource Chief Executive Officer.

Stuart Barkoff and Daniel Pawda co-led the transaction on behalf of GEF Capital. “With new capital to support the company’s development and marketing efforts,
we are confident that the Bluesource team will be able to take advantage of the many opportunities available to it,” said Stuart Barkoff, GEF Capital
Managing Director and Chief Operating Officer.

“We had the opportunity to work alongside two exceptionally creative, collaborative and professional teams in both Bluesource and GEF Capital,” said Felipe
Arrazola, Marathon Capital Vice President. “We are appreciative of the opportunity to help broker and structure a transaction between these two highly
complimentary teams,” said Gary Greenblatt, Marathon Capital Managing Director.

About GEF Capital Partners

GEF Capital Partners is a newly formed private equity fund manager focused on companies that promote resource efficiency and positive environmental impact.
The firm’s principals are all former managers at Global Environment Fund, an early pioneer in sustainability and environmental investing in the United
States and key global emerging markets. With operations in the United States, Brazil and India, GEF Capital works with its investment and portfolio
company partners to bring capital as well as strategic and operational expertise to businesses that promote the efficient use of scarce natural resources.

About Bluesource

Bluesource has been recognized as a leader in carbon emission-based project development year after year. Most recently, Bluesource was recognized in the
2017 Environmental Finance Market Rankings as the Best Project Developer in all North American markets and the Best Offset Originator in the California

About Marathon Capital

Marathon Capital is a leading financial advisory and investment banking firm focused on providing financial advice in the areas of M&A, capital raising
of debt and equity, project finance, tax equity, financial restructuring, recapitalization, bankruptcy and workout situations in the energy sector.
Marathon Capital is a four-time recipient of the “Best Renewable Asset M&A Advisor” Award (2013, 2014, 2016, 2017), “Renewable Generating Project
Finance Deal of the Year” Award (2016) and first-time recipient of the “Best Asset M&A Advisor” (2017) in Power Finance & Risk’s Annual Power
Finance Deals and Firms Awards.