Private equity firm Greenbacker Labs has made an equity investment in Exergy Energy.
Full financial details of the investment have not been divulged by either company.
Exergy Energy CEO David March said: “Exergy greatly appreciates Greenbacker Labs’ confidence in, and support of, Exergy’s 100% Renewable, Always-On Distributed Utility business model.
“With Greenbacker Labs’ support and capital investment, Exergy will accelerate its growth and bring its exclusive 100%-green utility services to more organisations seeking to reach their sustainability goals.”
Established in 2018, Exergy Energy has been providing 100% renewable energy, backup generation and improved reliability to commercial and industrial customers.
Exergy claims that it meets its customer’s energy requirements with renewable energy as well as providing on-site standby and backup generation, eliminating costly interruptions.
Greenbacker Labs business development director Ely Greenberg said: “We invested in Exergy due to its unique approach to microgrids, highly talented team, and strong value proposition.
“We believe that we can help accelerate Exergy’s planned expansion as we provide a combination of capital, strategic planning and introduction to project equity capital that can enable management to focus solely upon servicing its growing customer base.”
In addition to providing capital and strategic business planning to enterprises, Greenbacker Labs also creates new opportunities in sustainable infrastructure at the building, community, or industrial level.