Led by Chief Executive Officer Brian Sabina and Chief Development Officer Jonathan Kennedy, CET was founded on the principle that OSW ports enable not only clean energy generation, but also long-term economic benefits and good-paying, local jobs. Sabina and Kennedy were previously senior executives at the New Jersey Economic Development Authority, where they led the development and construction of the $1B+ New Jersey Wind Port, the country’s first purpose-built OSW marshalling and manufacturing port facility.
The NJWP was built with union labor under a project labor agreement and is expected to create up to 1,500 new jobs, growing New Jersey’s GDP by $500 million annually and transforming one of the most historically disadvantaged areas of the state. Building on this experience, the CET team is committed to working in partnership with public port authorities, harbor districts, and municipalities to develop port projects in a community-oriented and environmentally responsible way.
“With the U.S. targeting 110 GW of OSW capacity by 2050, including 15 GW of floating wind by 2035, demand for both port infrastructure and the capital required to build it has never been greater,” said Sabina
Since its founding in 2019, Homecoming Capital has invested in power, transportation, and industrials companies that are rewiring the economy with zero-emission infrastructure. Previous investments include participation in the take-private of Fjord1, the leading Norwegian electric ferry operator, and a more than $100 million commitment to Forum Mobility, a California-based zero-emission trucking solutions provider. Homecoming’s investment in CET is its first in the OSW market, and the firm is prepared to provide additional capital to the company as its project portfolio matures.
“As a partner to industry-leading teams, we see firsthand the significant impact zero-emission infrastructure has on accelerating the energy transition. By developing the ports necessary to enable offshore wind, CET is poised to accelerate gigawatts of offshore wind deployment in the years to come,” added Cody Evans, Co-Founder and Partner at Homecoming.
