About Us
Gemstone Lease Management, LLC (Gemstone), based in Wayne, Pennsylvania, develops and manages specialized lease programs that finance deployment of renewable energy technologies such as solar photovoltaic and solar hot water. We assist governments, utilities, public utility commissions, installers and manufacturers in achieving their goals by creating programs customized to take advantage of all available incentives while providing a favorable value proposition to the homeowner or business looking to add renewable energy generation to their home or building. Gemstone excels in its understanding of federal/state tax incentives; renewable energy credits; and factors impacting consumer/business adoption of renewable energy technologies. Gemstone effectively monetizes the value of the tax incentives and renewable energy credits and creates a lease product which provides the homeowner/business owner with a simple, low monthly payment.
Our Services Include:
- Consulting with regard to financing options including leasing, lending, and power purchase agreement programs
- Turnkey program design, creation and operation
- Tax Credit and Renewable Energy Credit monetization
- Financial modeling for programs requiring tax equity investor
- Design and operation of renewable energy credit aggregation programs
Management Team
Gemstone Lease Management, an affiliate of The Gemstone Group, Inc. is led by an experienced management team focused on financing and deployment of renewable energy technologies.
Gary D. Kleiman
Gary is the founder and President of The Gemstone Group, Inc. Gemstone, formed in 1993, is a regional investment and merchant banking firm which provides a wide range of corporate finance services to middle market companies and project developers. Gary has been involved in financing energy related companies and projects for many years including the use of tax driven financing techniques such as leveraged leasing.Prior to founding The Gemstone Group, Gary was Managing Director of PNC Corporate Finance, the investment banking affiliate of PNC Bank. At PNC, he managed activities that included: private placements of senior, subordinated, and mezzanine debt and equity capital; tax-exempt industrial revenue bonds; syndicated bank loans; and advisory services including M&A, valuations, and strategic planning. He has completed transactions with a value in excess of $2 billion during his career.
Gary graduated from the Indiana University School of Business in 1982.
Adam J. Stern
Adam Stern leads the renewable energy practice for The Gemstone Group and has advised clients on numerous renewable transactions including solar, wind, biomass, green buildings and energy efficiency lending programs involving over $130 million of project capital.
Prior to joining Gemstone, Adam was Chief Financial Officer and a founder of GFS Holdings Co. (GFS), a $30 million bank and Internet bank computer data processing company, until its merger with Aurum Technology, Inc. (formerly a division of EDS) in early 2001. He and other founders coordinated the fundraising of nearly $18 million in private equity and over $13 million in bank financing. He was an integral part of the mergers & acquisitions and integration team which included five buy side acquisitions, one sell side merger, and numerous rounds of private equity and bank financings over a 3 year period.
Prior to GFS, Adam spent nearly five years as Controller and CFO of a Philadelphia-based wholesale distribution business and directed the company's electronic commerce program. He also spent several years as a Senior Financial Analyst for CoreStates Bank, N.A. serving its large corporate, real estate, cash management and investment banking areas and completed nearly $1 billion in transactions. Before CoreStates, Adam served as financial analyst for the investment-banking firm of Hartley & Lee, Inc.
Adam graduated with his MBA from the George Washington University with a concentration in Finance and Investments. He also received dual undergraduate degrees in Finance and Real Estate Development from The American University.