EPC Power Corp., a North American provider of utility-scale inverters, introduced the Sustainable Investing enterprise inside Goldman Sachs Asset Administration (Goldman Sachs) and Cleanhill Companions have acquired a majority stake in its firm. The strategic funding, together with a complete recapitalization, positions EPC Energy to develop and ship in opposition to fast development within the renewable vitality storage markets whereas serving to facilitate the U.S. financial system’s clear vitality transition.
“EPC Energy is uniquely positioned to play a important function within the evolution of the U.S. photo voltaic and vitality storage worth chains and is now effectively capitalized to proceed its trajectory of fast development,” mentioned Alexander Mass, managing director of Goldman Sachs Asset Administration. “As the one scaled provider of sensible inverters which can be designed, engineered and 100% manufactured within the U.S., EPC Energy is a pure continuation of our thematic funding exercise on this area, in partnership with Cleanhill Companions and EPC administration.”
The transaction intently follows the signing into legislation of the Inflation Discount Act of 2022, which amongst different provisions extends a first-ever tax credit score to stand-alone vitality storage, creating a big monetary incentive for adopting EPC Energy’s inverters and different applied sciences. EPC Energy is the one U.S.-based end-to-end energy conversion resolution supplier, making its know-how well-suited for grid-scale purposes that require added layers of safety.
“EPC Energy is extraordinarily happy with the sturdy fame and monitor report we’ve constructed by specializing in product innovation and forging deep relationships with our prospects,” mentioned Devin Dilley, co-founder and CEO of EPC Energy Corp. “Because the world turns into extra reliant on renewable vitality, inverters must proceed to get smarter. Goldman Sachs and Cleanhill Companions assist this imaginative and prescient and are dedicated to investing in EPC Energy and our individuals to capitalize on this thrilling market alternative and to positively influence the U.S. vitality transition.”
Power storage installations globally are projected to multiply 20 occasions by the tip of 2030 in comparison with the tip of 2020, in keeping with BloombergNEF’s 2021 World Power Storage Outlook. The U.S. is at present the world’s largest marketplace for vitality storage.
EPC Energy’s sensible inverters are uniquely suited to purposes in standalone vitality storage, photo voltaic vitality storage and information heart backup energy. They permit the buildout of battery storage required to assist the proliferation of renewable vitality era. Going past the function of conventional inverters to feed energy into the grid, “sensible” inverters are powered by superior software program and work dynamically with the grid to extend resilience, reliability, security and safety.
Information merchandise from EPC Energy Corp.
