Electric Power Engineers Announces Investment from Lime Rock New Energy

AUSTIN, Texas, Jan. 13, 2022 /PRNewswire/ -- Electric Power Engineers, LLC ("EPE"), a leading consulting engineering firm focused on the power, renewable energy, grid modernization, and energy storage industries, today announced the acquisition of a controlling interest in EPE by Lime Rock New Energy, growth equity investors for the energy transition. As part of its investment in EPE, Lime Rock New Energy has also committed additional capital to accelerate EPE's continued growth.

Based in Austin, EPE is squarely focused on the energy transition, providing a range of engineering services for power systems planning, design, grid integration, and regulatory compliance in the United States and international markets. Its experience and services cover the entire spectrum of generation, transmission, and distribution and are provided to renewable energy and storage developers, generation owners, transmission service providers, municipalities, electric cooperatives, and independent system operators. Founded in 1968, EPE has been led and majority owned by company president Hala N. Ballouz since 2007. Ms. Ballouz will continue to lead EPE and remain a significant minority owner of the company, along with her senior leadership team of Stephanie Badr, Hugo Mena, and Billy Yancey.

Ms. Ballouz said, "When we set EPE's vision in 2015 on pioneering integrated T&D solutions, our focus became continuously innovating in consulting and software solutions to help our clients through the challenges of building the power grid of the future. We are very excited with our choice of the Lime Rock New Energy team as our partner with their focus on the energy transition.  Together we intend to accelerate EPE's growth, reach, and excellence to serve a growing need for expertise necessary to ensure that our power systems reliably and economically drive toward necessary decarbonization goals."

Mark Lewis, Managing Director of Lime Rock New Energy, added, "We believe that Hala and her team have built a company that delivers high quality engineering skills and integrated consulting plus software solutions to help their clients solve the increasingly complex challenges of integrating more renewable energy and technologies on to the grid. We have been impressed by EPE's fanatical focus on customers, its preeminent utility and developer customer base, and are looking forward to rolling up our sleeves to help the company execute its ambitious business plan, with a unified mission of accelerating and debottlenecking the energy transition today."

Lime Rock New Energy closed its debut fund and associated vehicles at $375 million in November 2021.  For more information on Lime Rock New Energy, please see www.lrnewenergy.com.

For more information on EPE, please see www.epeconsulting.com.

SOURCE Lime Rock New Energy