Relevate Power Announces Rebranding and Launches Equity Raise to Accelerate M&A Growth
2024年4月19日 - 8:34AM
Relevate Power, previously known as Elevate Power, unveiled its
strategic rebranding today alongside its announcement of an equity
raise to augment its project acquisition war chest and enhance its
cutting-edge 24/7 renewable energy asset management and brokerage
platform.
Relevate Power’s approach is unique in the renewable energy
industry. “We’re a large-scale redeveloper of hydro assets – most
of which have tremendous untapped potential,” says Matthew Wenger,
CEO of Relevate. “We acquire portfolios of these important historic
facilities and supercharge them – dramatically increasing their
generation and lowering their operating costs. Over the years, we
have developed sophisticated analysis, automation, and upgrade
methods that allow us to completely transform the returns on this
important renewable energy resource. We don’t have to wait for new
interconnects; we generate cash flow, and local impact, on day one.
Then we force multiply it.”
Today, Relevate owns and operates 22 run-of-river hydropower
facilities across the northeast. The company is on track to triple
its footprint by the end of 2024, investing heavily in the Midwest
while augmenting its New England portfolio.
“To ‘relevate’ means to lift up or restore the character of.
This announcement is emblematic of both our renewed focus and our
accelerated growth strategy,” said Goksenin Ozturkeri, Chief
Investment Officer of Relevate Power. “Timing is everything, and it
is a great time to be a buyer in this market. Our rebranding better
aligns with the Company’s ambitious vision and the additional
corporate capital ensures we can execute on it.”
“With the capability to generate a massive amount of low-carbon
electricity, hydropower has long been recognized as one of the keys
to a clean energy transition, and we are keen on the large market
opportunity to enhance the performance of the 1,800+ small
hydropower plants across the U.S.,” said Benjamin Baker, Managing
Director at Greenbacker Development Opportunities, which invested
in Relevate through its Greenbacker Development Opportunities Fund
I. “Led by a skilled management team with decades of experience in
the power and hydropower sectors, Relevate’s unique business model
transforms underperforming hydropower assets and improves
operations to deliver 24/7 clean power to local communities.”
About Relevate Power
Relevate Power was founded in 2021 from the merger of IPPs
Dichotomy Power and Clear Energy, and the power marketing firm
Standard Power. Its mission is to redevelop underutilized
hydropower plants providing affordable 24/7 clean energy to rural
America’s most impactful organizations. Relevate Power is backed by
Greenbacker Development Opportunities Fund I, LP, a middle-market
private equity strategy that invests in growing sustainable
infrastructure platforms serving high-value markets across the US,
which is managed by Greenbacker Capital Management, LLC.
For more information, visit www.RelevatePower.com.
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230 Park Ave, Suite 447, New York, NY 10169
(888) 885-2175
relevatepower.com