Miami, New York, Houston, April 25, 2024–(BUSINESS WIRE)–On.Energy, a growing North American power asset owner and proven end-to-end integrator of battery energy storage systems (“BESS”), announced today that We announced that we have closed privileged facilities. Partnered with Lombard Odier Investment Managers (“LOIM”) on behalf of the funds under its management, including the LOIM Sustainable Private Credit Strategy (the “Strategy”). The facility will expand and accelerate project development efforts as On.Energy continues to expand its U.S. asset base, including an additional 400MWh portfolio in ERCOT and a total of 1.1 GWh in development in California and Texas. Helpful. This financing is designed to support costs that are typically subject to inefficient financing in today's market, such as site management, engineering and interconnection, project and interconnection coupling, and project he M&A. Masu.
“We are proud to work with LOIM, which has a reputation for creating innovative and aligned capital solutions, following referrals from existing strategic portfolio companies.Despite tailwinds from the Inflation Control Act (IRA), “A structured financial solution with a leading partner like Lombard Odier Investments is essential for administrators to bring much-needed resilient storage capacity online,” said CFO David. said On.Energy CEO Alan Cooper, who co-led the transaction with Mr. Fernandes. “Across the country, power grids are now more vulnerable than ever, especially as the unprecedented growth of low-cost intermittent renewable energy continues to drive grid decarbonization. The solution enables industrial customers and the power grid to operate more efficiently while supporting the transition to net zero.”
Jean-Pascal Porcherot, Co-Head of LOIM and Managing Partner of the Lombard Odier Group, said: We are excited to further leverage our platform and expertise.” The asset creation speaks to the strength of the opportunity to drive scale for unsponsored climate solutions providers. ”
Thomas Hone-Sperbers, Head of Sustainability Research at LOIM, added: “At Lombard Odier, we are committed to developing purely climate change solutions, including companies where private assets play a vital role in the electrification of the economy. “We believe this provides a compelling path to invest in companies that deliver.” By leveraging our sustainability capabilities, we believe we have an opportunity to support and accelerate these business models. ”
About On.Energy
On.Energy is a fully integrated energy storage solutions provider and IPP. Based in our headquarters in Miami and offices in Texas, California, Mexico, Peru, and Chile, On.Energy's experienced team leverages our proprietary On.Command™ energy management system to deliver peak cutting, energy arbitrage, We implement customized turnkey solutions that support frequency regulation. , UPS/backup power, wholesale market integration, and microgrid operations for utilities, system operators, and C&I customers throughout the Americas. For more information about On.Energy, please visit www.on.energy.
About Lombard Odier Investment Managers
Lombard Odier Investment Managers (LOIM) is the institutional asset management business of the Lombard Odier Group, wholly owned and financed by its partners since its founding in 1796.
We offer a wide range of investment solutions to a diverse group of long-term oriented clients. Our heritage and the best combination of conservatism and innovation place us in a good position to create lasting value for our clients. Our investment capabilities span fixed income, convertibles, equities, multi-asset and alternatives. Sustainability is at the heart of our investment philosophy. We believe this is a fundamental principle of long-term economic and investment performance and drives long-term returns.
With 209 investment professionals, we are a global business with a network of 13 offices in Europe, Asia and North America, with assets under management of CHF 62 billion (as at 31 December 2023).
For more information, please visit www.lombardodier.com.
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contact address
On.Energy Contact:
Aleida Perez Oliva
Email: aperez@on.energy
Phone: +1 786 450 2681
LOIM spokesperson:
Celeste Helliger
Email: c.herriger@lombardodier.com
Phone: +41 44 214 14 26
