Greentech Advises


Greentech Advises Beacon Power on its Sale to RGA Investments and Convergent Energy and Power
April 8, 2018

Greentech Capital Advisors is pleased to announce the following transaction:
Exclusive financial advisor to Beacon Power on its sale to

UndisclosedApril 2018

*

CLIENT OVERVIEW

Beacon Power is the leading flywheel energy storage company and one of the largest energy storage asset owners in North America. Beacon’s 40 MW of operating flywheel projects provide valuable frequency regulation services to the PJM and NYISO markets, helping to maintain grid stability and balance intermittent resource production with unparalleled precision. Beacon also has a robust patent portfolio and designs, manufactures, operates and maintains flywheels in-house.

Rockland Capital acquired Beacon in 2012, and is a private equity investment company formed in early 2003 to invest in value-driven opportunities in the North American and European power and energy infrastructure markets. The Company applies a hands-on, operational focus to managing assets that often require additional management attention due to a variety of uniquely inherent complexities. Based in Houston, Texas, Rockland is currently investing Rockland Power Partners, LP, a $425mm private equity fund, and recently closed the $454mm Rockland Power Partners III fund.

* Mandated through Greentech Capital Advisors Securities, LLC

TRANSACTION OVERVIEW

  • Convergent Energy and Power acquired Beacon Power’s operating flywheel assets, located in Hazleton, PA and Stephentown, NY. The assets have a combined capacity of 40 MW and comprise ~13% of the grid-scale energy storage projects in the PJM and NYISO markets
  • RGA Investments acquired Beacon Power’s intellectual property, asset management, project development and manufacturing operations. The patent portfolio includes more than 40 patents
  • The acquisition of Beacon’s assets by Convergent Energy and Power combines Beacon’s operating track record with Convergent’s leading development platform, which includes a variety of technologies including: flywheels, lithium ion and advanced lead acid. We believe that the addition of these assets will significantly bolster Convergent’s operating portfolio and enable operating synergies across their existing portfolio
  • Beacon’s IP and operating company provides RGA a superior technology and product portfolio that will help RGA advance its global development of advanced energy storage systems for grid modernization applications
  • The consideration for the transactions were undisclosed

Greentech Capital Advisors acted as exclusive financial advisor to Beacon Power. The transaction further strengthens Greentech’s leading advisory position in the global energy storage market.

For additional information about this transaction, please contact:

Derek Bentley
Partner
+1 (212) 946-3948
dbentley@greentechcapital.com.

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