Led · Equity · Apr 2023

Braya Renewable Fuels owns and operates the Come By Chance Refinery in Newfoundland and Labrador and is converting it to renewable fuel operations. The company plans to produce renewable fuel and sustainable aviation fuel aimed at decarbonizing heavy road transport and aviation sectors. Once operational the project will initially supply 18,000 barrels per day of low‑carbon renewable fuel, with expansion plans to increase capacity and enhance SAF production. The refinery was renamed Braya Renewable Fuels after the provincial braya flower and is positioned to deliver fuels to a variety of end markets. Led by CEO Frank Almaraz, the company intends to use new funding to support the conversion and accelerate renewable fuels production. Financially, Braya received a $300M investment that joins its existing owners in supporting the transition to renewable operations.

Participated · Debt Financing · Jan 2022

Amp Energy India develops and operates renewable energy transition solutions and projects for commercial and institutional customers. The company has a portfolio of more than 2.7 GW across 17 states in India and serves marquee customers across ten sectors, including pharmaceuticals, automobiles, cement, steel, heavy engineering, FMCG, educational institutions, IT & data centres, utilities, and government bodies. It said it will use a newly secured $250 million financing to fund growth and accelerate its business plan. Founder, MD and CEO Pinaki Bhattacharyya said the round moves the company toward becoming the leading energy transition platform in the country. The financing involves participation from SMBC Bank of Japan, global alternative asset manager ICG, and the Asian Infrastructure Investment Bank (AIIB). AIIB's participation is described as its first direct equity investment into a renewable independent power producer, which the bank says will help attract long-term private capital. Amp Energy develops and finances community solar-plus-storage projects in the US. The company closed a US$155 million tax equity and debt financing for a 13-project portfolio in Massachusetts and New York. The portfolio totals 65MW of solar PV and 6.5MWh of energy storage; most projects will reach commercial operation this year and the remainder in Q2 2023. Three projects will use bifacial modules paired with storage and will be dispatched using Amp X, the company’s optimisation and management platform. Jared Donald, EVP and head of US operations, said Amp’s financing into US community solar has surpassed US$500 million. Amp’s US portfolio has reached 200MW of operating and in‑construction assets, with a further 500MW planned to be built over the next two to three years. Amp Energy develops, owns and operates clean energy assets including renewables and battery storage, and operates a grid-edge technology platform called Amp X that uses proprietary AI. The company is headquartered in Toronto and has operations across North America, Australia, Japan, Spain, the Czech Republic, and the UK. Amp says it focuses on building wholly‑owned assets at scale to accelerate decarbonization of flexible power generation infrastructure. The firm targets construction‑stage projects in markets including the U.S., Australia, and Japan and plans to add additional investment‑grade geographic markets as it scales. Founded in 2009, Amp is described as a high‑growth disruptor backed by institutional capital, including a US$374 million investment from the Carlyle Group in late 2020. Amp Solar Group, Inc. is a Toronto-based global energy transition platform and renewable infrastructure manager, developer and owner. Led by Dave Rogers, the company has developed over 1.8 gigawatts of distributed and utility-scale renewable generation projects, hybrid generation plus storage projects, and stand-alone battery storage projects since 2009. It operates a proprietary digital energy platform, Amp X, which provides a portfolio of interoperable solutions including a smart transformer for real-time autonomous management and optimized dispatch of distributed generation and loads. The company has operations throughout North America, Japan, Australia, India, the UK, Iberia and the Czech Republic. Amp Solar Group received a $374M equity investment commitment from The Carlyle Group, with capital provided by Carlyle’s Global Infrastructure Opportunity Fund and Carlyle’s Renewable & Sustainable Energy Fund. The investment is intended to catalyze rapid growth of both Amp’s asset base and its Amp X platform across core markets including North America, Japan, Australia, Iberia and the UK. Amp Solar Group is a Toronto-based global developer of flexible clean energy infrastructure that develops, owns and operates clean energy assets both behind and in front of the meter. Founded in 2009 and led by President and CEO Dave Rogers, the company has operations in North America, Japan, India and Australia. Amp Solar reports a portfolio of over 700MW of distributed generation and utility-scale projects and a development pipeline of over 2GW across North America, Japan, Australia and India. The company closed a C$200M financing led by Zoma Capital. It intends to use the funds to continue the development, acquisition and build-out of clean energy infrastructure assets in its core markets. Amp focuses on flexible infrastructure solutions deployable both behind and in front of the meter.

Participated · Series C · Oct 2010

Ice Energy develops and deploys thermal energy storage products, including its Ice Bear technology, that deliver behind-the-meter storage for commercial and industrial HVAC, refrigeration, process cooling, and home AC systems. Its systems are used to manage peak power demand and enable load shifting under long-term utility contracts. The company has installed 15 megawatts (MW) of energy storage, has contracts to install another 30 MW, and reports a pipeline of over 400 MW. Ice Energy provides peak capacity to more than 40 utility service territories nationwide. The company says funding will enable it to accelerate market development in the U.S. and internationally. Ice Energy is based in Costa Mesa, Calif. Ice Energy produces rooftop ice-making systems that store cooling energy during off-peak hours and use the ice to cool buildings during peak demand. The product includes an on-site storage device, a controller for intelligent operation, and cellular connectivity to a network operations center that utilities can control. The company targets buildings three stories or less, a segment the CEO says accounts for 97% of commercial buildings and half of commercial A/C electricity consumption. Ice Energy reports 25 utilities as customers and is running a pilot with Toronto Hydro plus a large-scale project with the Southern California Public Power Authority (SCPPA). Investors and company statements note 5 million hours of operational runtime and a robust patent portfolio. The company closed a $24 million Series C and plans to use the proceeds to fulfill a $115 million supply agreement with SCPPA and to drive new utility sales.