Catalyst Power Closes Acquisition Of Retail Energy Provider
February 3, 2021 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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Catalyst Power Holdings LLC ("Catalyst Power") announced that it has closed its acquisition of US Energy Partners LLC ("USEP"), a retail energy provider based in Buffalo, New York that supplies electricity to middle-market commercial and industrial customers throughout New York state.
USEP’s offerings include renewable energy supply, fixed and index price electricity supply contracts and community solar from a variety of New York sited solar projects. "This aligns with the four pillars that Catalyst Power represents to commercial customers: positive environmental impact, immediate savings, long-term budget certainty and outage protection," Catalyst said
"Catalyst Power, an independent, integrated retail energy and microgrid solutions provider, views the integration with USEP as a crucial step toward its funding the development of distributed solar, natural gas engines and other novel energy supply options for the underserved middle-market commercial and industrial customer," Catalyst said
"We are excited to partner with the entire USEP team to pursue this growing market opportunity," said Gabriel Phillips, CEO of Catalyst Power Holdings. "Our target market has been underserved for too long -- by combining USEP platform’s expansion with our proprietary Catalyst Microgrid solutions, we are democratizing access for our customers to more environmentally friendly, money saving energy supply options."
As previously reported, Catalyst Power announced a commitment from BP Energy Partners ("BPEP"), a private equity fund, and Catalyst management, in July of 2020.
"The acquisition of USEP is an ideal springboard for Catalyst’s roll-out plans and distributed energy resource strategy," says Michael Watzky, Managing Partner of BPEP.
Catalyst Power continues to pursue additional strategic REP acquisition opportunities.