We invest in your clean energy vision.
About Us
Founded in 2010, NuGen Capital has been at the forefront of clean energy development and capital solutions in the United States. Led by energy infrastructure and real estate investor, David Milner, NuGen finances, constructs, owns and operates projects and partnerships that are transforming the American energy market and paving the way for the country’s energy transition.
- As investors and developers, we are bringing innovative and adaptable capital solutions to communities across the country and supporting cutting-edge technology that is rapidly advancing the pace of the U.S. energy transition.
- As owners and operators, we directly manage a growing portfolio, with investments totaling more than $250MM as of January 2025, focused on clean energy assets, real estate and electric transportation fleets.
- And as community partners, we are building a network of businesses, landowners, building owners, and regulatory and utility partners who are committed to accelerating our mission, while providing philanthropic support to advance education and environmental justice.
We are experienced, flexible, and adaptable.
History
We started with one solar project in 2010, which was the largest rooftop solar project in New Jersey. We grew into a national leader in energy development, innovation, and investments.
Briggs Solar
COD Date: June 2021
Address: East Greenwich, Rhode Island
Size: 6.77MWdc
This is the first project NuGen developed in Rhode Island. The 7 MW site is the largest single-rooftop solar installation in Rhode Island.
Bristol Landfill Solar
COD Date: March 2024
Address: Bristol, Rhode Island
Size: 7.49MW dc
Bristol Landfill Solar is was the largest landfill solar installation in Rhode Island as of March 2024.
Old Wardour & Vuelta Solar
COD Date: December 2024
Address: Spencer & East Brookfield, Massachusetts
Size: 12MW dc
Sitting on over 150 acres across East Brookfield and Spencer, Massachusetts, these two sites are connected NuGen-built and commissioned transmission-tied substation. At the time of their construction, they were considered the largest solar site in Massachusetts, with a total system size of 12 MWdc
Partner With Us
At NuGen, we’re in it for the long haul. We are privately owned, self-financed, and with you every step of the way. When you partner with us, you get a collaborator and an investment partner you can trust.
Our portfolio is always growing, and we welcome opportunities to procure and invest in near term development projects, single operating assets, or full project portfolios across the nation.
Looking for ideas on how to create value and interested in being a part of the country’s energy transition? Or do you have other ideas for collaboration? Call us, send us an email, or fill out the form below to get in touch.
Our Team
We know finance. We know development. We know energy. And with this expertise, we know what it takes to bring innovative and adaptable renewable energy solutions to market. That’s what NuGen is all about.
Learn more about the senior members of our team.
David Milner
Founder & CEO
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David Milner has served as the Chief Executive Officer of NuGen Capital since its founding in 2009. Mr. Milner is responsible for the strategic direction and capital allocation of the NuGen platform.
Over the past 20 years, Mr. Milner founded, operated and exited from successful investment companies and businesses in energy and real estate. David currently serves on the Board and as an Advisor to several companies, including Eaglebrook Advisors, Corner Ventures, DAS Climate Partners and others. Prior to NuGen, David was a Director of Climate and Alternate Energy at Hastings Funds Management, a private equity fund based in Australia and owned by Westpac Bank.
For his volunteer and non-profit work, David is a member of the Board of Trustees of the Sidwell Friends School in Washington, DC and the Samuel Huntington Fund and a Director of the RISC Fund. David has a B.A. in Economics from Middlebury College and attended the University of Chicago, Graduate School of Business as a National Fellow.
Laura Frazier
Managing Director, Business Development & Strategy
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Laura Frazier joined NuGen Capital in 2016 and today serves as Managing Director, Business Development & Strategy, after progressing through multiple leadership roles. Over her 18-year career, Laura has specialized in building high-impact teams, driving operational transformation, and scaling complex businesses in both established corporations and entrepreneurial settings.
At NuGen, Laura’s leadership has been central to expanding strategic partnerships, entering new solar energy markets, and streamlining project execution, directly contributing to NuGen’s recognized success within the renewable energy investment sector. She has managed key capital sourcing efforts, developed business plans, overseen project due diligence, and represented NuGen at national industry events, while coordinating initiatives to improve organizational efficiency and client engagement.
Previously, Laura was instrumental in regional operations and strategy for Teach For America in Providence, optimizing performance, supporting corps member onboarding, and ensuring program compliance and data accuracy. Before that, she served as Registrar and Board Chairman for Admissions at Northeast Maritime Institute, leading regulatory approvals, campus management system implementation, and helping establish the country’s first private maritime college for underserved communities.
Laura spent the first decade of her career in operational and financial roles at Arpin Van Lines in Rhode Island, where she honed her skills in business process improvement and oversight of large-scale, client-focused projects.
Known for seamlessly integrating innovative business approaches, operational best practices, and stakeholder collaboration, Laura is deeply committed to leveraging both business and educational initiatives for broader community sustainability. She holds a B.A. in Business Administration from Southern New Hampshire University.
Email: lfrazier@nugencapital.com
Phone Number: 401.889.2373 x101
Nicole M. Verdi, Esq.
Managing Director, Operations, Finance & Legal
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Prior to joining NuGen, Nicole served as Orsted’s New England Head of Government Affairs and Policy. In this role, she collaborated closely with the New England Congressional delegation, governors’ offices, and state and local officials to advance Orsted’s vision of a world powered by green energy. Nicole played a pivotal role in supporting the successful development of Orsted’s New England project portfolio, contributing to the region’s transition to renewable energy.
Before her tenure at Orsted, Nicole held prominent positions in Rhode Island’s government, serving as Chief Legal Counsel and Senior Energy Advisor to the Rhode Island Senate President and later as Deputy Chief of Staff to Governor Gina M. Raimondo. In these roles, Nicole led efforts to combat climate change, foster the state’s blue economy, enhance transit infrastructure, and prioritize public safety initiatives.
With a background as an attorney at Adler Pollock & Sheehan (AP&S) and experience clerking for Rhode Island Supreme Court Justice Maureen McKenna Goldberg, Nicole brings a comprehensive understanding of legal and policy frameworks to her current role at NuGen Capital.
Outside of her professional commitments, Nicole remains actively engaged in community service and advocacy. She currently serves as Vice Chair of the Rhode Island House of Representative’s Land Use Commission and volunteers on the Board of Directors for organizations such as New England Women in Energy and Environment (NEWIEE), Planned Parenthood of Southern New England, and the Providence After School Alliance (PASA).
Nicole holds JD and BS from Roger Williams University School of Law and Roger Williams University, further enhancing her qualifications to drive positive change in the renewable energy sector.
Email: nverdi@nugencapital.com
Aaron Rust
Managing Director, Renewable Infrastructure
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Aaron Rust joined NuGen Capital in November 2015 and currently serves as the Managing Director, Renewable Infrastructure. Mr. Rust is responsible for overseeing NuGen Capital’s operation and maintenance efforts and quality assurance standards to ensure optimum asset performance across the company’s growing renewable energy portfolio. Mr. Rust joins NuGen Capital from the construction sector, with 20 years of experience managing the moving parts of a construction site, meeting deadlines, and ensuring the highest-quality product. Aaron owned and operated his own construction company for over 15 years building horse race courses globally, including at the Olympics. Mr. Rust’s attention to detail and eye for excellence, combined with his creative problem-solving skills and hands-on leadership style, allows the team to provide the continuous, dedicated attention needed to meet the real-world conditions of optimum renewable energy asset performance.
Email: arust@nugencapital.com
Phone Number: 401.889.2373 x104
Michael Baer
Managing Director, eMobility & Analytics
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Michael Baer received his B.S. in Business Administration from Babson College and his M.S. in International Relations from New York University. He is a CFA Charterholder. Michael currently serves as a Board Member at City Year Providence and the Stowe Land Trust. He was formerly the Chair of Rhode Island’s Science and Technical Advisory Board of the State’s Climate Change Coordinating Council.
Email: mbaer@nugengo.com
Phone Number: 401.889.2373 x113
Dan Cooney
Managing Director, Storage & Energy Transition
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Email: dcooney@nugencapital.com
Jeff Gustafson
Controller
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Jeff is the Controller at NuGen, bringing extensive experience in finance leadership across multiple industries. He has held roles as a controller, accounting manager, and resource manager, specializing in financial oversight and operational efficiency. Most recently, he served as Controller for HW Staffing Solutions, where he managed financial reporting, compliance filings, payroll, and employee benefits. At NuGen, Jeff oversees day-to-day finance and accounting operations, including accounts payable and receivable, tax equity reporting, job cost accounting, payroll, and cash management.
Email: jgustafson@nugencapital.com
Our Advisory Board
The dedicated members of our Advisory Board collectively bring decades of earned experience and institutional knowledge in clean energy, venture capital, real estate and more.
Our Board Members are well-respected in their fields, and have worked for or advised government agencies and some of the world’s most influential corporations, nonprofit organizations and industry associations.
We are proud and fortunate to have this group in our corner as we advance our mission.
Kerry Cooper
Area of Expertise: Venture capital, tax equity and business management, with experience leading marketing, merchandising, and operations for global retail brands.
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Kerry Cooper is an experienced consumer and retail executive and board member with a successful history of building and growing businesses, teams and developing great cultures. Kerry serves on several boards and is a Venture Advisor at Acrew Capital. Kerry has served on the PG&E board since June 2020, joining as it came out of bankruptcy and serves on both the finance and comp committees. Kerry also serves on the boards of Upstart (UPST- AI-based lending), Mozilla, Fictiv (new product development in the cloud), and Gradient (heat pumps). Kerry is an active angel investor with ~20 angel investments. Kerry’s latest operating role was President and COO of Rothy’s, leading marketing, merchandising and operations at the wildly popular San Francisco-based company, manufacturing bags and shoes from recycled materials.
Kerry was recognized in 2020 by the National Retail Foundation as one of the 5 People Shaping Retail in 2020. Prior to joining Rothy’s, Kerry was CEO of Choose Energy, a Kleiner Perkins-backed energy marketplace, sold to Red Ventures in early 2017. Prior to Choose Energy, Kerry served as COO and CMO of e-tailer ModCloth.com, where she scaled marketing, merchandising, supply chain, customer care, and fulfillment efforts across the US. Before ModCloth, Kerry led marketing and strategy for Walmart.com as CMO and VP of Global Ecommerce. Prior, she served as SVP of Retail and Planning for the Dockers brand at Levi’s. Kerry has previously served on the boards of BevMo! (2017-2020), Choose Energy (2013 to 2016), Weddington Way (2015 to 2017, sold to GAP 2017) and Wirecutter (NY Times) Advisory Board (2017 to 2019). She holds an MBA from Harvard University and an undergraduate degree in mechanical engineering from the University of Texas at Austin.
Lisa Frantzis
Area of Expertise: Clean energy development, with experience advising utilities, governments, and businesses on policies and programs to expand renewable energy infrastructure.
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Lisa Frantzis is the CEO and Founder of Aligning Energy Solutions and a former partner of Guidehouse (and prior with Navigant Consulting and Arthur D. Little) responsible for decarbonization go to market initiatives such as clean hydrogen, e-mobility, and renewable energy solutions. Throughout her close to 40 years of consulting experience, she has determined clean energy integration options for utility companies; identified energy program options for international government agencies; developed business strategies for clean energy players all along the value chain; and conducted technical and market due diligence for financial firms considering clean energy investments.
Lisa was also a senior managing director at Advanced Energy United (formerly Advanced Energy Economy – AEE from 2013 – 2022), a national business association whose mission was to transform state and federal policy to ensure a more secure, clean, and affordable U.S. energy system. At AEE, she led the Utility Advisory Committee and CEO/Executive Forums that addressed business model reforms and regulatory changes needed to accelerate the transition to a 21st century energy and transportation system. These initiatives convened utility executives, public utility commissioners, and advanced energy companies to develop a vision for reform that was responsive to the needs of each state and drove concrete action.
Lisa was appointed to the Department of Energy’s Electricity Advisory Committee in 2021 and is an Emeritus Ambassador for the U.S. Clean Energy, Education & Empowerment (C3E) initiative. She was given the New England Women in Energy and the Environment Leadership Award in 2019 and serves on the Boards for the Alliance for Climate Transition, LineVision and EDP. She is a former Board member for the American Council on Renewable Energy; Smart Electric Power Alliance (SEPA); CMC Energy Services, and the Solar Business Association of New England.
Andrew Goldberg
Area of Expertise: Financial management and investment strategy with experience overseeing hundreds of domestic and global entities in the construction, real estate, and renewable energy industries.
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Andrew Goldberg is the Chief Financial Officer of Jay Cashman, Inc. (“Cashman”) and its affiliated companies, which operate in three vertices: construction, renewable energy, and real estate. He is responsible for managing approximately 15 companies and 250 entities that operate domestically and abroad. He has been with Cashman for over 14 years and brings nearly 25 years of finance experience.
In addition, he is President of two Cashman Companies: Patriot Renewables and Patriot Renewable Energy Capital (“Patriot). He is responsible for strategy and finance activities at Patriot, specializing in transaction structure, tax, sourcing, financing and M&A.
Before joining the Cashman, Andrew was involved in the financial operations of a real estate investment firm with more than $10 billion in assets under management throughout 120 funds consisting of 1,500 properties. While there, Andrew structured over 75 transactions with total development costs exceeding $1 billion.
He has been actively involved with YPO New England since 2017 and is the current Finance Officer. He holds a B.S. in Finance and Economics from Bentley University.
Kara Milner
Area of Expertise: Education, community engagement, equity, and the arts, with experience supporting pathways to success for students and teachers.
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Kara has been a proud supporter and ad hoc advisor to David and NuGen Capital since the business’ inception. Her ongoing guidance and unwavering passion play a pivotal role in NuGen’s continued success, and she is delighted to join accomplished members of the inaugural NuGen advisory board. She holds a B.A. from Dartmouth College and an M.A. from the University of Virginia. She and David live in Bristol and are the parents of three children: Teo (23), Elise (20), and Frieda (15).
Careers
If you’re looking to join a team at the forefront of America’s energy transition, reach out to us and submit your resume using the form below!