Leverages capital commitment, deployment of cost-effective battery storage, and proprietary technology platform to expand growth through M&A
Boulder, CO – September 22, 2020 — Catalyze, a developer and independent power producer (IPP) of renewable distributed generation (DG) and storage projects for the commercial and industrial (C&I) markets with a 300 megawatt (MW) project pipeline in development, today announced the launch of its proprietary origination-to-operations software integration platform REenergyze™ to help accelerate and scale the nationwide adoption of C&I solar and storage.
“Historically, scaling in the C&I renewables sector has presented unique challenges for developers and IPPs due to market fragmentation, high transaction and construction costs for smaller projects, ever-changing policies, and the need for boots-on-the-ground project development knowledge and expertise,” said Catalyze Chief Executive Officer Steve Luker, whose company is backed by leading energy investors EnCap Investments L.P. (“EnCap”) and Yorktown Partners LLC (“Yorktown”). “As a company founded on the belief that technology has the power to enable efficient and substantial growth, we know that automating and standardizing the origination-to-operations process is key to repeatability and scaling in the C&I sector.
REenergyze™ streamlines the major processes of commercial solar and storage project origination, development, construction management, operations, and asset optimization to address challenges across different renewable energy technologies, geographies, power markets, and programs. The platform is currently being deployed by Catalyze and their co-development partners, to identify, evaluate and manage projects throughout their lifecycle, allowing the company to achieve efficiencies often observed in the utility-scale solar sector.
Catalyze has acquired over 37 MW of large DG solar + storage projects across multiple regions. Building upon this success, Catalyze is now implementing a market roll-up strategy, which leverages the committed capital, their expertise with storage and delivering complex solutions, and the integration capability of REenergyze™ to efficiently acquire companies who add value to the Catalyze enterprise. Leading the acquisition effort for Catalyze is former Quinbrook Infrastructure Partners Vice President, Kenton Harder.
“With their experience in delivering solar + storage solutions, their technology platform, and substantial financial backing, the Catalyze team has all the elements required to become the leader in what is currently a highly-fragmented market that is ripe for roll-ups and consolidation,” said EnCap Energy Transition Managing Partner Jim Hughes.
About EnCap Investments, LP
Since 1988, EnCap Investments has been the leading provider of venture capital to the independent sector of the US energy industry. The firm has raised 21 institutional investment funds totaling approximately $37 billion and currently manages capital on behalf of more than 350 U.S. and international investors. For more information, please visit www.encapinvestments.com.
About Yorktown Partners, LLC
Yorktown Partners LLC is an energy-focused private equity firm that has raised $9 billion of capital commitments across thirteen partnerships since 1991. The firm has provided financing and leadership to over 90 companies in the energy industry. Yorktown’s principals are significant investors in their partnerships. Yorktown’s limited partners include endowments, foundations, families, insurance companies, and other institutional investors. To learn more about Yorktown, see www.yorktownenergy.com.