Published by Todd Bush on October 24, 2022
Energy Spectrum Capital supports Nightpeak Energy's founding partners and their vision to enable the energy transition with flexible generation projects
OAKLAND, Calif., Oct. 24, 2022 /PRNewswire/ -- Nightpeak Energy ("Nightpeak"), an energy company focused on reliably powering communities towards a low-carbon future, has announced its formation and equity funding of up to $200 million from Energy Spectrum Capital ("Energy Spectrum"), a Dallas-based investment firm that invests across the energy infrastructure value chain. The funding comes from Energy Spectrum Partners Fund VIII ("Fund VIII"), Energy Spectrum's eighth fund with total capital commitments of nearly $1 billion. Nightpeak has also secured a letter of credit facility from a major US-based lender. The equity funding and letter of credit facility will allow Nightpeak to execute on its strategy of developing, owning, and operating flexible generation resources, such as utility-scale batteries, across the US.
>> In Other News: Chevron Publishes Methane Report
Nightpeak brings together industry veterans Paris Hays, Michael Laubenthal, Lucas Möller and Benjamin Snieckus to develop a portfolio of resources aimed at addressing the growing capacity and reliability needs of a decarbonized grid. The founding partners worked together at Recurrent Energy, a leading North American utility-scale solar and energy storage developer, where they commercialized and executed some of the largest and most innovative stand-alone battery storage plants and utility-scale hybrid solar + storage projects in the US.
Nightpeak's initial focus is on developing projects in the U.S. West and Texas, where the rapid growth of intermittent renewable energy resources has created significant need for flexible, dispatchable generation assets.
Paris Hays, Co-founder and CEO/CDO, Nightpeak Energy, said, "We are excited to partner with Energy Spectrum and to have its support as we develop a fleet of flexible generation power plants. Flexible generation will enable the massive build-out of renewable energy while providing grid reliability and long-term value for the customers and communities we serve."
Mike Mayon, Partner, Energy Spectrum, said, "Nightpeak is a strategic addition to Fund VIII to capitalize on the growing need for flexible and dispatchable generation to balance intermittency and strengthen the grid. The Nightpeak team's track-record of success developing energy storage and related assets fits well with our approach of identifying strong management teams to build companies that meet the needs of the evolving energy market."
Nightpeak Energy develops, owns and operates energy projects that meet the growing capacity needs of a decarbonized grid. Nightpeak comprises seasoned industry veterans with experience creating and building innovative energy infrastructure projects. For more information, please visit Nightpeak Energy.
Founded in 1995, Energy Spectrum Capital is a Dallas-based investment firm that invests in well-managed lower middle market companies that acquire, develop and operate energy infrastructure assets in North America. Since inception, the firm has raised more than $4.5 billion of equity capital and has sponsored 64 portfolio companies to date. For more information, please visit Energy Spectrum Capital.
SOURCE Nightpeak Energy
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue ⚡ DOE Floats New Cuts To Hundreds Of Clean Energy Grants ⛏️ HyTerra Limited Announces Positive Results From McCoy 1 Well 🍁 As Policy Changed, CarbonCapture Moved Its Pilot Projec...
Inside This Issue 🚢 CF Industries, Trafigura, and Envalior Announce Shipment of Certified Low-Carbon Ammonia 🥤 Skytree Validates DAC System to Generate Pure, Beverage-Grade Liquid CO₂ On-Site 💻 Su...
Inside This Issue 💰 Louisiana's $3.5B Carbon Capture Surge Sets National Decarbonization Blueprint 🌍 UN Climate Summit To Feature First-Ever Carbon Removal Pavilion At COP30 🚛 AtmosClear Selects E...
Air Liquide is enhancing its strategic U.S. Gulf Coast network to support new customers' needs. The Group has secured new hydrogen supply agreements with two of the largest refiners in the U.S. and...
As Policy Changed, CarbonCapture Moved Its Pilot Project From Arizona to Alberta
This innovative climate tech startup just moved its first big project from the U.S. to Canada as Trump threatens the industry. At the beginning of this year, a climate tech startup called CarbonCa...
HyTerra Limited Announces Positive Results From McCoy 1 Well
HyTerra Limited (ASX: HYT), a company focused on exploring for natural hydrogen and helium resources near major industrial hubs and the first company to list on the ASX with a focus on white hydrog...
Prometheus Hyperscale Works With Carbon Capture Firms On New Data Center Campus In Wyoming
Says the gas-powered facility will be carbon negative Prometheus Hyperscale has revealed plans for a second AI data center campus in Wyoming, which it says could eventually deliver 1.5GW of IT cap...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.