ROCKLIN, Calif., Sept. 26, 2017 /PRNewswire/ -- JLM Energy, a renewable energy technology company, announced today that it has secured $25 million to finance distributed energy storage projects for Commercial & Industrial (C&I) customers.
The investment was arranged by GoldenSet Capital Partners as subadvisor to the North Sky Alliance Fund II. CohnReznick Capital was the advisor to JLM Energy in this transaction.
This funding will finance deployment of energy services and accelerate the rapid adoption of JLM's Phazr, an innovative distributed energy storage platform specifically designed for the large-scale deployments in the C&I market. By taking this module level approach, JLM's Phazr is able to advance DC coupled storage applications by minimizing cost of design, installation, as well as operations and maintenance. Operating with its patent pending Symmetric DC Regulation, JLM is able to maximize solar generation to provide the most optimized solution, ensuring the customer achieves the highest amount of savings.
Ardes Johnson, JLM's vice president of strategic initiatives said, "This funding will enable our customers to immediately realize savings and achieve control over monthly utility expenses by using the most sophisticated technology on the market today."
Available customer finance options include energy as a service and standard loan options for a monthly payment that is substantially lower than the savings provided by the system. The facility is expected to be fully committed by Q3 of 2018.
"Distributed energy storage is an attractive investment opportunity for GoldenSet in which we can mitigate risk while helping experienced and innovative partners like JLM capture the accelerating opportunities of a quickly evolving landscape," said Everett Smith, Managing Partner of GoldenSet Capital.
About JLM Energy
JLM Energy is an energy technology company. JLM has created a fully-integrated software platform and energy ecosystem that optimizes energy use and maximizes savings for customers. The ecosystem includes solar, energy storage, monitoring devices, algorithms and load controllers that are all unified via a single software platform. JLM Energy is an employee-owned company. To learn more, visit www.jlmei.com.
About GoldenSet Capital Partners and About North Sky Capital
GoldenSet Capital Partners focuses on investments in the sustainable infrastructure sector. It acts as a sub-advisor to Alliance Fund II and provides project finance equity and structured capital. North Sky Capital is a registered investment adviser and a leader in impact investing with $1.2 billion in committed capital across its various funds. For more information, visit www.northskycapital.com and www.goldensetcapital.com.
About CohnReznick Capital
At CohnReznick Capital our team creates unprecedented firsts, providing investment banking services to the sustainability sector. Since 2010, CohnReznick Capital has executed more than 90 project and corporate financings for renewable energy assets, valuing more than $11 billion in aggregate. To learn more visit, www.cohnreznickcapital.com
Ellen Howe for JLM Energy
Everett Smith for GoldenSet
Tom Weirich for CohnReznick Capital
View original content with multimedia:http://www.prnewswire.com/news-releases/jlm-energy-announces-25-million-project-finance-investment-300525743.html
SOURCE JLM Energy