NEW YORK, NY and JUPITER, FL--(Marketwired - Jun 15, 2017) - Energy Impact Partners (EIP) today announced that it has closed an investment in Powerphase , a provider of advanced gas turbine upgrade technology.
The investment is the first institutional round of financing raised by Powerphase. It will be used to drive geographic expansion and accelerate deployments of the company's patented Turbophase product.
Powerphase has developed a compressed air injection technology for combustion turbines that increases capacity and improves efficiency. The company's Turbophase system is a modular gas turbine upgrade that results in greater profits for electricity generators through reduced capital costs, increased revenue, and meaningful fuel savings. Greentech Capital Partners served as the investment bank for Powerphase on the transaction.
"EIP invests in the full life-cycle of an electron: from generation through transmission and distribution to consumption," commented Hans Kobler, CEO and Managing Partner at EIP. "Natural gas generation is increasing at record rates globally, creating an attractive market for turbine upgrades. Powerphase technology drives gas turbine efficiency and savings, and we're pleased to be a part of their growth."
"The Powerphase team has developed a first-of-its-kind power and efficiency upgrade product for new and existing power plants that enables plant owners to add highly flexible capacity, while at the same time improve electrical grid efficiency," said Michael Donnelly, the partner at EIP who led the deal. "Powerphase has a proven team that will deliver high-value products to a global customer base."
"We are very excited to have EIP as a partner to help accelerate our business globally," added Bob Kraft, CEO of Powerphase. "We believe the EIP partnership is as important as the investment capital. We look forward to building relationships with EIP's network of utility partners during this exciting, rapid growth phase of our company."
EIP's network of a dozen utility partners recently added PTT Public Company , the leading energy provider in Thailand, and OGE Energy Corp ., the largest electric utility in the state.
About Energy Impact Partners Energy Impact Partners is a collaborative strategic investment firm that invests in companies optimizing energy consumption and improving sustainable energy generation. Through close collaboration with its strategic investor base, EIP seeks to bring the best companies, buying power and vision in the industry to bear on the emerging energy landscape. EIP's partners include Southern Company, National Grid, Xcel Energy, Ameren, Great Plains Energy, Fortis Inc., AGL, Avista, TEPCO, PTT Public Company Limited, Madison Gas and Electric Co., and OGE Energy Corp. For more information, visit www.energyimpactpartners.com .
About Powerphase Powerphase has commercialized advanced aero-thermal technology for power generation and industrial applications that uses air more efficiently in combustion turbines. The management team has leading expertise in combustion turbine design and intellectual property, with deep experience in the power industry. There are more than 80 patents pending on the company's technology. The company was founded in 2012 and is headquartered in Jupiter, Florida. For more information, visit http://www.powerphasellc.com/ .
Contact info: Eugene Hunt Trevi Communications for Energy Impact Partners Email Contact (978) 750-0333 Energy Impact Partners, LLC Email Contact (212) 899-9700
