CATALYST POWER ANNOUNCES ACQUISITION OF NY RETAIL ENERGY PROVIDER AP GAS & ELECTRIC (NY) LLC

NEW YORK, Dec. 15, 2021 /PRNewswire/ -- Catalyst Power Holdings LLC ("Catalyst Power"), an integrated provider of cleaner energy solutions for the commercial and industrial sector, acquired AP Gas & Electric (NY) LLC ("AP G&E NY"), the New York State specific former subsidiary of Houston, Texas-based retail energy provider ("REP") AP Holdings LLC. AP G&E NY supplies cost-effective electricity to a wide array of middle-market commercial and industrial customers throughout New York. AP G&E NY's offerings previously included fixed and index-priced electricity supply contracts and now have been augmented by Catalyst Power's natural gas, community solar, and Connected Microgrid solar project offerings. This acquisition extends Catalyst Power's footprint to the entirety of New York State, allowing it to expand on its mission of helping its commercial and industrial customers to decarbonize their electricity consumption.

"This is a tremendous fit. We're excited to be able to expand the mix of commercial and industrial customers that can now have access to Catalyst Power's decarbonizing solutions," said Gabriel Phillips, CEO of Catalyst Power Holdings. "The middle market has been underserved for too long – by combining AP G&E NY's territories, customers and channel partner relationships with our novel energy supply options including community solar products and proprietary Connected Microgrid solutions, we are expanding access for our customers to more environmentally friendly, cost-effective energy supply options."

Catalyst Power announced a commitment from BP Energy Partners ("BPEP"), a Dallas, Texas-based private equity fund, and Catalyst Power management, in July of 2020 and the acquisition of US Energy Partners (Buffalo, NY based retail energy provider) in February of 2021.

"The acquisition of APG&E NY is yet another example of Catalyst Power finding ways to accelerate the adoption of clean, distributed energy resources," says Cole Robertson, Managing Director of BPEP. 

Catalyst Power continues to pursue additional strategic REP acquisition opportunities.

About Catalyst Power Holdings LLC:

Catalyst Power Holdings LLC is an independent, integrated provider of cleaner energy solutions for the commercial and industrial sector through commercial energy, customized Connected Microgrid solutions, and community solar to underserved middle-market commercial and industrial end-use customers, improving the overall efficiency and environmental impact of their supply. Catalyst Power is a portfolio company of BP Energy Partners, LLC. More info: www.catalystpower.com

About BP Energy Partners, LLC:

BP Energy Partners, LLC (BPEP) is a Dallas, Texas-based growth-oriented private equity firm. Since its inception, BPEP has focused on a lower carbon future by establishing and growing sustainable and responsible companies in the natural gas value chain including, infrastructure, power, logistics, transportation, environmental services, renewable natural gas, midstream, and distribution. BPEP will also invest in low-carbon energy solutions and renewables. BPEP collaborates with entrepreneurs, family-owned businesses, project developers, and experienced management teams to provide patient capital, financial and operating expertise, and deep industry relationships. BPEP currently manages over $560 million in committed capital and is actively investing in new opportunities. More information can be found at www.bpenergypartners.com.

SOURCE Catalyst Power Systems