Bethesda-based Hull Street Energy has made a substantial capital commitment to SunGrid Solutions, a battery energy storage solution services company.
Terms of the deal were not disclosed.
The investment marks the beginning of a partnership between HSE and SunGrid led by its CEO Jeremy Goertz, Chief Revenue Officer Stefan Goertz and Executive Vice President Jake Wang.
SunGrid provides a variety of services for power generation-to-battery, microgrid, stand-alone energy storage, distribution system support and renewable generation coupling applications. Through its partnership with HSE, it expects to expand its Engineering, Procurement and Construction (EPC) footprint and proprietary SunGrid PowerPlay and SimpleOS technology solutions. SunGrid has deep industry expertise, an extensive execution track record and a significant pipeline, most recently having deployed more than 500 MWh of battery storage throughout the United States and Canada.
Javelin Capital acted as financial adviser and The Law Office of Jon Staley, as well as Margie Strub Construction Law LLP and Renno & Co. Inc. acted as legal counsel to SunGrid.
Faegre Drinker Biddle & Reath LLP and Goodmans LLP acted as legal counsel to Hull Street Energy.
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