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.
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