Greenbacker Labs Announces Equity Investment in Exergy Energy, a 100% Renewable, Always-On Distributed Utility
NEW YORK: Greenbacker Labs, an innovative incubator that focuses on providing private equity capital to sustainable infrastructure technology businesses announced yesterday that it has made an equity investment in Exergy Energy. Terms were not disclosed.
Exergy Energy, formed in 2018, provides 100% renewable energy, backup generation and improved reliability to commercial and industrial customers at costs below that offered by other energy providers. Exergy provides what the utility cannot:
- 100% of the customer’s energy requirements with renewable energy
- On-site standby and backup generation, eliminating costly interruptions
- Savings on delivered energy costs
- Long term price certainty
Ely Greenberg, Director of Business Development at Greenbacker Labs said, “we invested in Exergy due to its unique approach to microgrids, highly talented team, and strong value proposition. We believe that we can help accelerate Exergy’s planned expansion as we provide a combination of capital, strategic planning and introduction to project equity capital that can enable management to focus solely upon servicing its growing customer base.”
David March, CEO of Exergy Energy LLC, stated: “Exergy greatly appreciates Greenbacker Labs’ confidence in, and support of, Exergy’s 100% Renewable, Always-On Distributed Utility business model. With Greenbacker Labs’ support and capital investment, Exergy will accelerate its growth and bring its exclusive 100%-green utility services to more organizations seeking to reach their sustainability goals.”
About Greenbacker Labs
Greenbacker Labs is a premier business incubator and private equity firm that provides capital and strategic business planning to enterprises creating new opportunities in sustainable infrastructure at the building, community, or industrial level, and that are ready to scale. In addition to creative financing options for operating capital and project finance, Greenbacker Labs also provides business development, financial structuring, and operations support. Greenbacker Labs is a venture of several lead investors of Greenbacker Group, an investment management firm focusing upon sustainable infrastructure and renewable energy.
