SUNGRID ANNOUNCES ACQUISITION OF RA ELECTRIC, INC.

HOUSTON, April 19, 2023 /PRNewswire/ -- SunGrid Holdings ("SunGrid") has acquired RA Electric, Inc. ("RA Electric"), an electrical services contractor based in southern California, specializing in numerous aspects of construction including new building construction, utilities, power conditioners, interconnections, installation of emergency generators, power conditioners, surge suppressors and U.P.S. systems.

The acquisition will enable SunGrid to provide services to projects scaling from 1 MW to 1 GW in support of California's aggressive decarbonization and energy storage goals to expand renewable energy, reduce carbon emissions, and bolster electric reliability across the state.

"SunGrid is excited to continue our growth through the acquisition of RA Electric," said Jeremy Goertz, Co-Founder and CEO, SunGrid Solutions. "This partnership brings direct electrical strength to SunGrid's already strong California-based Battery Energy Storage Solution Construction team. As an EPIC (Engineer Procure Integrate Construct) company SunGrid is leading the way with best-in-class services in North America and Globally within the BESS industry. RA Electric brings enhanced construction capability specifically focused on Medium Voltage, Low Voltage, and Infrastructure based projects. Located just outside Los Angeles, RA Electric will have an immediate impact on SunGrid projects currently underway in California. It is anticipated that RA Electric will continue to grow its existing customer base and leverage its leading electric capabilities to ensure growth in 'Powering On Projects'!"

The Law Office of Jon Staley acted as the legal counsel to SunGrid.

About SunGrid

SunGrid, a Hull Street Energy affiliate, has US headquarters in Houston, Texas, with global headquarters in Canada, and uses its strong execution-focused team to deliver excellent partnerships across the North American Energy Storage sector. The company is focused on the BESS industry and brings its engineering-first delivery strategy to Turnkey and Balance of Plant EPC, and Integrated BESS enclosure systems, including its PowerPlay and SimpleOS platform. Having in-house engineering capabilities throughout North America allows SunGrid to take on projects from 250kWh to 1GWh. By focusing on strong Engineering as part of EPC and turnkey project delivery, SunGrid is a projects first company. For further information about SunGrid please see www.sungridsolutions.com.

About RA Electric

Founded in 1980, in Northridge, California, RA Electric, Inc. provides quality electrical installations for commercial, institutional, and medical projects. RA Electric, Inc. has proven its record for completing diverse projects on time and under budget with excellent service, competitive quotations, and superior technical support.

About Hull Street Energy

Hull Street Energy is a private equity firm that specializes in deploying capital into the power sector as it decarbonizes. Headquartered in Bethesda, Maryland, the team leverages its decades of experience and unique knowledge of North American electricity infrastructure, fundamentals, and grid operations, including fuel inputs, commodity contract structuring, renewable and fossil-powered generation assets, energy storage, transmission and distribution systems, and electricity demand-side businesses to build value for stakeholders. For further information about Hull Street Energy please see www.hullstreetenergy.com.

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SOURCE Hull Street Energy