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Key people at New Energy Risk.
New Energy Risk provides specialized technology performance insurance solutions that advance breakthrough clean energy ventures. The company offers bespoke risk transfer products, including equipment warranty backstops, performance coverage, tax credit, and battery dispatch insurance. These offerings enhance project bankability and reduce capital costs for emerging technologies by de-risking innovative energy solutions.
Founded by Tom Hutton, who serves as an advisor, New Energy Risk emerged from the insight that robust risk management is vital for transformative energy technologies. Based in the San Francisco Bay Area, its multidisciplinary team of experts in risk analytics, engineering, and clean energy finance rigorously assesses complex project risks to structure precise insurance offerings.
New Energy Risk serves technology providers, project developers, and capital sources driving clean energy innovation. Its vision is to catalyze the large-scale deployment of breakthrough technologies in renewable energy, biofuels, and storage. The company seeks to accelerate a greener future by making pioneering clean energy projects viable.
Key people at New Energy Risk.
New Energy Risk (NER) is a specialist managing general underwriter providing innovative insurance solutions, including technology performance insurance, tax credit insurance, and battery dispatch insurance, to support the deployment of breakthrough technologies in the renewable energy sector, sustainable fuels, energy storage, and infrastructure.[1][2][3] As a wholly owned division of Paragon Insurance Holdings since its acquisition in March 2022, NER acts as a trusted partner for clean tech innovators, enabling faster market adoption, enhanced bankability, lower capital costs, and risk transfer for first-of-a-kind projects—having facilitated billions in clean capital deployment, terawatt-hours of annual generation, and kilotons of carbon emissions avoided.[1][2] Its mission centers on underwriting a greener future by catalyzing large-scale adoption of sustainable technologies through bespoke risk products that bridge innovators, buyers, lenders, and investment-grade reinsurers.[2][3]
Founded in 2010 and headquartered in Menlo Park, California, New Energy Risk emerged as a pioneer in technology performance insurance for the renewable energy industry, serving as a risk assessor and intermediary between clean-energy developers and insurers.[1] The company built its expertise over the next decade, expanding underwriting capabilities in emerging sectors like sustainable fuels and infrastructure technology, with early focus on warranty backstops and performance coverage since 2013 to accelerate client deployments.[1][2] A pivotal moment came in March 2022 when NER was acquired by Paragon Insurance Holdings (with prior backing from XL Innovate), integrating it into a broader insurance ecosystem while retaining its specialized focus; more recently, in May 2025, George Schulz succeeded longtime CEO Tom Dickson, who had led for over a decade, positioning NER for further innovation under Schulz's vision rooted in financial services and technology performance insurance.[1]
New Energy Risk rides the global energy transition trend toward renewable energy, biofuels, energy storage, and circular economy technologies, where first-of-a-kind projects face high performance and financial risks that hinder scaling.[2][3] Timing is critical amid accelerating decarbonization mandates, falling clean tech costs, and surging demand for bankable insurance to unlock investment—NER's solutions lower capital hurdles, shorten development cycles, and boost returns, directly fueling deployment of sustainable infrastructure.[1][2] Market forces like policy-driven tax credits (e.g., IRA extensions), rising merchant power markets for batteries, and insurer appetite for green risks favor NER, as it influences the ecosystem by de-risking innovators, enabling higher-volume adoption, and bridging gaps between tech developers, financiers, and buyers to amplify clean capital flows.[3]
Under new CEO George Schulz, NER is poised to expand its underwriting in high-growth areas like sustainable fuels and infrastructure tech, leveraging Paragon's resources for broader niche programs and innovative products amid intensifying climate goals.[1] Trends such as AI-optimized energy storage, advanced biofuels scaling, and volatile merchant markets will shape its trajectory, demanding even more agile risk solutions; its influence could evolve by standardizing performance insurance as a staple for clean tech financing, further catalyzing breakthrough deployments. This positions NER as an enduring enabler in underwriting a greener future, building on its decade-plus legacy of turning energy innovation risks into scalable realities.[2]
