Foss & Company Q3 Report: Moving Forward With Clarity

As we closed the third quarter of 2025, Foss & Company continued to provide clarity in a market still settling after OB3. Q3 was about certainty from translating evolving guidance, addressing questions around FEOC rules, to helping partners move forward with confidence.

At the end of the quarter, we introduced a refreshed brand identity featuring an updated logo and modernized visual system. The evolution reflects our continued growth and maturity while reaffirming the values that define our approach to institutional partnership and disciplined execution.

Driving Value Across Clean Energy & Historic Preservation

Foss & Company advanced several projects this quarter, reinforcing our commitment to both sustainability and historic preservation:

• Hale Kuawehi, Island of Hawai‘i, HI – A 30 MW solar array with co-located 122.8 MWh battery storage, marking our third successful transaction in Hawai‘i.

• Overton Lofts, Elizabeth City, NC – Our first transaction with Miller & Associates, transforming the historic 1908 Elizabeth City Cotton Mills through Federal Historic Tax Credits and NC State Mill Rehabilitation Credits.

• Johnson City, San Antonio, TX – Redevelopment of the Johnson City High School into apartments, office space, and a pre-leased nursing school, supported by federal and state historic tax credits.

• Tower of Maumee, Toledo, OH – Phase two of a historic reuse project delivering 91 market-rate apartments and office space, supported by Federal HTC and Ohio Historic Preservation Tax Credits.

• Additional projects this quarter included Okun Produce Building (OH), 334–346 Bryant St (NY), Fayette Park (ST), Dunbar School (NC), Forge 417 (OH), 210–216 Fayetteville (NC), Project Wisteria (ST), and the Shinola Hotel (IN).

Engaging the Industry

Our team remained highly active in the field, speaking and sponsoring across the country:

• Infocast Texas Clean Energy – Austin, TX – VP Dawn Lima joined industry leaders to discuss the clean energy landscape.

• RE+ National Conference – Las Vegas, NV – Sponsored presence with Capital Markets and Renewable Energy & Sustainable Technologies teams, highlighted by meetings with partners nationwide.

• Infocast Energy Tax Equity & Credit Markets – Houston, TX – Sponsored; Partner Bryen Alperin attended while Dawn Lima spoke on transferability and tax equity structures.

• REFF North America 2025 – New York, NY – VP Claire Behar engaged developers, investors, and corporate buyers on tax equity and transferability market trends.

• We also participated in the NABA Annual Golf Classic, TEI Denver Event, and EnerCom Denver.

In The News & In the Blog

Foss & Company earned national coverage this quarter, with insights featured in Yahoo Finance, The Wall Street Journal, and Accounting Today, reflecting our perspective on the evolving tax equity market and OB3’s impact:

• “Clean Energy Tax Credit Market Participants Remain Bullish” – The Wall Street Journal feature with commentary from Partner & Managing Director Bryen Alperin

• “One Big Beautiful Bill Doesn’t Mean the Immediate End of Energy Credits” – Accounting Today analysis on OB3 guidance as provided by Bryen Alperin

• “Goodson Hills Affordable Housing Development” closure picked up by Yahoo Finance

• Recent blog posts explored Foss & Company’s brand refresh, Notice 2025-42 on “Beginning Construction” for wind and solar, new FEOC rules under the OB3 Act, and debunking common myths about tax equity investments.

Welcoming New Talent

Joining us this last quarter, Kelli Anderson, Trent Douglass, and Sayali Marathe enhance our team’s ability to deliver clarity and consistency for our partners.

Looking Ahead

This fall, our team will be active at major industry events, including Wood Mac CCUS (Houston), the Novogradac Historic Tax Credit Conference (Cleveland), and the WRISE Leadership Forum (Atlanta), with additional October, November and December engagements across New York, Chicago, San Francisco, and Denver.

As we move into Q4, Foss & Company remains focused on navigating evolving guidance and supporting our partners with clarity. Connect with us to learn more about how we can partner in the months ahead.