Toronto, Ontario, Canada, Feb. 02, 2023 (GLOBE NEWSWIRE) -- TORONTO, ONTARIO – February 2, 2023 – Peak Power, a cleantech company enabling the development of energy storage by providing energy optimization software for commercial and industrial facilities, announced an agreement with Madison Energy Investments (MEI) worth $200 million in project financing and development capital. The partnership with MEI will support the accelerated deployment and offer turnkey financing for energy storage projects, a linchpin technology to drive the energy transition at the pace required to reach net zero goals.
MEI is a leading financier, developer, owner, and operator of distributed energy projects for commercial, industrial, and government facilities throughout the United States. MEI has built a noteworthy portfolio consisting of 386 MW of ‘owned and exclusive’ clean energy assets. The partnership with Peak Power is a testament to the shared commitment of both companies to be leaders in the fight against climate change and to see a future where dirty power plants are made obsolete.
“At MEI, it’s abundantly clear that energy storage is a critical part of the energy transition,” said Richard Walsh, Managing Partner of Madison Energy Investments. “Therefore, the relationship with Peak Power is very synergistic. The ambitious and knowledgeable team at Peak Power has built a strong track record, so we are excited to support them as they continue to push the envelope to benefit the environment and its customers by enabling increased amounts of energy storage deployment.”
At a time of increased electrification, pressure on grids, and commitments in all areas of society to build a cleaner energy future, this partnership is a model for success. This partnership with MEI, combined with the innovative nature of Peak Power’s shared savings business model, offers customer sites a no-cost solution to install energy storage. Flexible capital is also available to energy storage developers partnered with Peak Power to accelerate the deployment of optimized energy storage assets at scale. This capital paired with Peak Power’s industry-leading optimization software offers a pathway for customers and partners to reach their climate and energy ambitions, without having to sacrifice the bottom line.
“We’re excited to partner with Madison Energy Investments, a team who shares our vision of a clean energy future,” said Derek Lim Soo, CEO of Peak Power. “The support from MEI is a valued vote of confidence in our software and deployment capabilities. MEI has made numerous clean energy ventures possible, and today, we’re excited to join this network of cleantech innovators.”
Peak Power has a proven capacity for deploying and optimizing energy storage projects to prepare commercial and industrial facilities for the energy transition. This access to capital for Peak Power’s customers and partners will provide an even greater number of sites with the technology, capital, and expertise they require to maintain profitability, pursue net zero goals, and support overall grid resiliency.
To learn more about Peak Power’s cleantech solutions and MEI’s distributed energy investments, visit www.peakpowerenergy.com and https://www.madisonei.com/.
About Peak Power
Peak Power is a cleantech company founded in 2015 with operations in Ontario, New York, New England, and California. Their flagship software, Peak Synergy, optimizes battery storage, grid-interactive buildings, and electric vehicles under a single software platform for customers and partners to pursue net zero goals, cut operating expenses, and unlock new revenue opportunities. Peak Power’s software delivers results with innovative projects that take commercial and industrial-scale storage systems and electric vehicles into electricity markets. Peak Synergy is deployed in over 90 buildings and sites, with ~128 MWh of storage capacity under contract or committed. For more information visit www.peakpowerenergy.com.
About Madison Energy Investments
Madison Energy Investments develops, constructs, owns and operates distributed generation assets within the commercial and industrial (C&I) and small utility-scale sectors. As an asset owner, MEI provides institutional capital to fund renewable energy projects across North America. The team’s diverse experience has produced best practices across all phases of the industry from origination to asset management. Quality partnerships and the ‘execution mindset’ drive us to be the best team in the industry. www.madisonei.com
Elaine Kwok Peak Power Inc. 1-416-452-0982 Elaine@peakpowerenergy.com
