Solar+Storage
PR Newswire | January 04, 2024
BrightNight, the next generation and global renewable power producer built to deliver clean and dispatchable solutions, today announced the successful closing of a $375 million corporate credit facility. This significant financial milestone underscores the company's commitment to advancing renewable energy solutions that are safe, reliable, affordable, and clean.
The corporate credit facility will provide BrightNight with the necessary capital to execute on its U.S. project portfolio which includes solar, energy storage, and integrated technologies providing value-add renewable power solutions for its customers. This funding specifically will support equipment deposits, letters of credit, and project buildout. The credit facility is structured as a Green Loan in alignment with Green Loan principles.
"We are extremely pleased to announce the successful raise of this $375 million credit facility, a first for BrightNight," CEO Martin Hermann said. "This funding is more than just capital; it represents an important step in BrightNight's growth. It enables us to accelerate our projects, procure equipment at attractive terms, and deliver clean renewable power for our customers."
ING, Natixis CIB, and SMBC are the Coordinating Lead Arrangers and Green Loan Coordinators on the transaction. HSBC is a Joint Lead Arranger and Administrative Agent.
Latham and Watkins and PEI represented BrightNight in the transaction. Norton Rose Fulbright served as the Lender Counsel.
"I want to thank our supporting banks and advisors for their hard work and support in closing this facility," CFO Brian Boland said. "The quality of the bank group and final terms are a testament to the strength of our portfolio and differentiated approach to the development of renewable power projects."
ABOUT BRIGHTNIGHT
BrightNight is the first global renewable integrated power company designed to provide utility and commercial and industrial customers with clean, dispatchable renewable power solutions. BrightNight works with customers across the U.S. and Asia Pacific to design, develop, and operate safe, reliable, large-scale renewable power projects optimized to better manage the intermittent nature of renewable energy. Its deep customer engagement process, team of proven power experts, and industry-leading solutions enable customers to overcome challenging energy sustainability standards, rapidly changing grid dynamics, and the transition away from fossil fuel generation.
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Energy
PR Newswire | January 15, 2024
Eletopia, a leading provider of smart energy storage solutions, is transforming the energy storage market with innovative technology. Integrating advanced battery management, energy conversion, and intelligent energy operation, Eletopia offers comprehensive solutions, redefining home energy management.
In an era prioritizing energy reliability and sustainability, Eletopia's whole-house backup power solution will impact the power plans for U.S. homeowners. Providing security during outages, the H2 series Hybrid Inverter efficiently convert solar energy during low consumption periods. Through the B2 series High Voltage Battery and the mobile storage unit S36 series Portable Power Station, they stored electricity ensures uninterrupted power for essential household appliances, electronics, and systems. Eletopia's Smart Backup Unit (SBU) seamlessly switches between solar, grid, and generator power sources, ensuring continuous functionality. Eletopia's solution guarantees reliable backup power, keeping households operational.
At the core of Eletopia's offering is the All-in-one Smart Energy Management System (EMS), empowering homeowners with complete control of their energy usage. Offering features like power station monitoring, AI diagnostics, AI Saving, and more, this system provides efficient energy management for every home.
Eletopia prioritizes safety, efficiency, and profitability. Their solutions integrate power generation, energy storage, consumption, and operational services, amplifying the value of energy storage. Leveraging advanced battery management, energy conversion, and smart storage technology, Eletopia enables homeowners to optimize resources for a greener, sustainable future.
Eletopia credits its success to a diverse team of American and global experts in the energy sector. From battery technologists to marketing specialists, their collective expertise ensures cutting-edge solutions tailored for American homeowners.
Beyond innovation, Eletopia focuses on customer-centricity. Collaborating closely with clients, they address specific requirements, ensuring project success and seamless operation. This commitment, coupled with exceptional service, has established Eletopia as a trusted industry partner.
About Eletopia:
Eletopia specializes in comprehensive, smart energy storage solutions merging power generation, energy storage, consumption, and operational services. Our suite of cutting-edge technologies—advanced battery management, energy conversion, equipment integration, smart storage management, and operational expertise—aims to increase the value of energy storage. Committed to becoming a global leader, we serve partners and end-users seeking professional, innovative brands in smart energy management.
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Products
PR Newswire | January 05, 2024
Digital Power Optimization, Inc. ("DPO") a developer and operator of green data centers announced the binding execution of a power purchase agreement with a major, multinational producer of renewable energy (the "Seller"). The Seller owns a number of large renewable power assets, including multiple 150MW+ wind farms in Texas. Under the new power purchase agreement, DPO and the Seller expect data center deployments to reach 100MW in total size and extend across as many as six of the Seller's Texas wind assets.
Unlike most traditional computing facilities procuring clean power through virtual PPAs or offsets, DPO's data centers will draw power behind the meter, directly from the renewable wind generation facilities. Funding for the first phase buildout at the initial project site has been secured and data center operations are expected to begin in 2024, with the remaining sites coming online over the following 12-18 months.
DPO's CEO, Andrew Webber, commented, "We're extremely pleased to have this PPA finalized and the project now officially underway. We have been running a pilot on-site for this power producer for over a year now and have developed an outstanding partnership with them. Together, we crafted a custom and innovative PPA structure which creates zero-cost economic upside for the Seller while bringing to life some of the cleanest and most sustainable computing facilities on Earth for DPO's investors and data center tenants."
Since 2020, DPO has worked directly with power producers to utilize power-dense computing functions like Proof-of-Work network security and AI training as a more profitable physical offtake for undervalued power. DPO is the only company in the world to have developed and operated data center projects behind the meter on wind, solar, hydro, and natural gas plants, as well as grid-connected facilities.
About Digital Power Optimization
Digital Power Optimization is a leading developer and operator of green data centers for power-dense computing. DPO partners with utilities and IPPs to locate data center facilities on-site at power generation plants to directly utilize renewable energy for the operation of HPC/AI and Proof-of-Work computing. DPO is privately held.
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Sustainability
PR Newswire | January 08, 2024
Clarios, a global leader in advanced low-voltage battery solutions, and Altris, a pioneer in sustainable sodium-ion battery technology, announced they have created an innovative partnership aimed at developing low-voltage sodium-ion batteries for the automotive industry.
Every vehicle, including hybrid electric and electric vehicles, requires a low-voltage energy source to power critical systems and functions. As hybrid and electric vehicles continue to evolve, the low-voltage network is being asked to support an increased number of software-based functions such as steer-by-wire, break-by-wire, autonomous functions, and enhanced in cabin experiences.
This transformation is leading automakers to explore multi-battery solutions that include lithium-ion, absorbent glass mat (AGM) lead-acid batteries, and other chemistries for some of the world's most iconic vehicles. While lead-acid batteries represent the best example of a circular economy in the world, and lithium-based products continue to evolve, Clarios chemistry agnostic and circular approach has become of strategic importance.
Sodium-ion (Na-ion) batteries are inherently sustainable and easy to recycle, made from salt, wood, iron, and air. The materials used to produce Na-ion cells are abundant and available – free from conflict minerals and toxic elements. The new joint collaboration program aims to develop an Na-ion battery with a potential of up to 60 volts to support automotive applications in both new vehicles and for aftermarket replacements, that also can complement a multi-battery low-voltage system configuration.
"Clarios brings extensive experience with low-voltage systems within the automotive sector and will play a leading role in defining and optimizing the specifications for the sodium-ion cells," said Federico Morales Zimmermann, vice president and GM, Global Customers, Products and Engineering at Clarios.
Altris, a leader in sodium-ion cathode material and battery cell technology, will focus on the development of Na-ion cells specifically adapted to the needs of the low-voltage automotive battery market.
"Altris wants to bring the world better, safer and truly sustainable sodium-ion batteries. We're continuously investigating new applications where our technology can make significant impact at massive scale. As such, we're very excited to team up with Clarios who share our strong ESG focus, to develop low-voltage cells for the automotive industry. With this partnership, we're able to access every third vehicle driven globally and accelerate the green transition", said Björn Mårlid, CEO of Altris.
The long-term goal is to develop a detailed production plan for low-voltage battery systems using these Na-ion cells. The companies believe the mass production of Na-ion batteries would represent an important advancement in automotive battery technology and an important step in supporting the circularity goals of the automotive industry.
About Clarios
Clarios is the global leader in advanced, low-voltage battery technologies for mobility. We power progress through ever-smarter solutions for virtually every kind of vehicle. With 16,000 employees in over 100 countries, we bring deep expertise to our Aftermarket and OEM partners, and reliability, safety and comfort to everyday lives. We answer to the planet with a rigorous ESG focus – advancing best-in-class sustainability practices and advocating for them across our industry. Clarios is committed to sustainability and operational excellence. We work to ensure up to 99% of battery materials are recovered, recycled and reused. Clarios is a Brookfield portfolio company.
About Altris
Altris is a Swedish sodium-ion battery developer. We develop cathodes, electrolytes, battery cells and factory blueprints to create market-leading sodium-ion batteries. Sprung out of the Ångström Laboratory at Uppsala University, we are taking our patented innovation from conception to commercialization. Our long-term goal is to become the primary supplier of sodium-ion batteries in Europe, making a real impact on the world by enabling a better battery at scale.
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