HOUSTON, April 1, 2019 /PRNewswire/ -- V3 Commodities Group Holdings, LLC ("V3") today announced that it has closed a $5,000,000 first lien credit and commodity supply facility with Greenlight Energy Corporation ("Greenlight"), a retail energy provider serving natural gas and electricity markets in Maryland, New Jersey, Pennsylvania and New York. Under the arrangement, V3 provides Greenlight with working and growth capital, and offers Greenlight physical commodity risk management services related to deliveries of power and natural gas in the retail energy markets in PJM and New York.
J. Scott Perry, CEO of V3, said, "We are excited to partner with the Greenlight management team as they grow their retail energy business in the Northeastern markets, and we look forward to helping Greenlight grow not only their energy commodity business but their valued added energy products business as well."
Michael Hartofilis, CEO of Greenlight, said, "[The V3 facility and their physical supply and services expertise provides Greenlight with a competitive advantage in the retail energy markets. The credit facility and risk management skill set at V3 allows Greenlight to provide innovative and flexible products to its customers and allows us to better manage commodity market risk and meet customer demands. We look forward to growing our business with V3 as our partner.]"
About Greenlight Energy Corporation
Greenlight Energy, a family-owned energy company based in New York City, was founded by Michael Hartofilis in 2009 in an effort to provide consumers with more options in their energy supply and billing. As in any industry, when customers are given choices, higher quality products and more competitive pricing results.
Steadily expanding through the years, thanks to an ever-growing and faithful base of satisfied customers, Greenlight Energy has sought to create change in this industry, our local communities, and the planet at-large by promoting and offering cost-effective, eco-friendly products and services to change the energy market, and the conversation surrounding it—including no-cost, bill-reducing solar installation; 100% renewable electricity and natural gas fixed rates plans; and energy-saving, cost-cutting LED lighting.
About V3 Commodities Group, LLC
V3 provides capital, supply and risk management services to retail energy providers operating in the deregulated North American energy markets. V3's principal areas of focus are:
- Trade credit and growth capital facilities;
- Electricity and natural gas supply, including shaped and full requirements products; and
- Risk management, natural gas logistics for producers and end users and other physical market services.
V3 is based in Houston and maintains offices in New York and Baltimore.
For more information, please visit http://v3cg.com/
SOURCE V3 Commodities Group