Enernet Global Secures $6.5 Million in Series A Funding

Tuesday, 27. October 2020 14:00

NEW YORK, Oct. 27, 2020 (GLOBE NEWSWIRE) -- Enernet Global Inc., a distributed energy service company that provides tailored energy solutions for commercial, industrial, remote community and utility customers, announces new investment of $6.5 million from Kyuden International Corporation, part of Kyushu Electric Power Company, and MPC Capital. Enernet finances, builds, owns and operates microgrids and distributed energy resources on a global basis.

With operations in Australia, the Philippines, the Caribbean and, most recently expanding to Sub-Saharan Africa, Enernet deploys distributed on- and off-grid generation projects that include renewable energy, battery storage, cogeneration and existing thermal or grid supply.

Enernet’s proprietary technology platform underpins the design and optimization of these advanced energy assets. Selling energy and services through power purchase agreements, systems are delivered at no capital cost to customers and tailored to their specific energy needs. This lowers customer costs, adds energy resilience and independence, and dramatically reduces emissions for commercial and industrial, mining, hospitality, remote, island community, and utility customers.

“The continued dependence on fossil fuels for distributed generation is totally non-viable, both from an economic and environmental perspective,” said Paul Matthews, Enernet CEO. “Globally, businesses and utilities across many sectors still rely on diesel-generated power, while others suffer losses from costly power outages. With our Energy-as-a-Service model, we can drive savings and deliver significant carbon reductions while providing more resilient systems and energy independence – all at no capital cost."

He added, “We are excited to have Kyuden International Corporation and MPC Capital join us as key investors. We share a commitment to the advancement of the global energy market and a sustainable, renewables-based energy transition.”

Martin Vogt, Managing Director MPC Renewable Energies, commented: “We are excited about this strategic investment and partnership, which will help our expansion into the microgrid segment on a global basis, and further our objective of reducing carbon emissions. What particularly excites us about Enernet is the combination of top-notch project development and operational expertise with cutting edge optimization technology.”

About Enernet Global Inc (“Enernet”)
Enernet is a distributed energy service provider that finances, builds, owns and operates microgrids and drives the adoption of renewable energy, battery storage and energy efficiency solutions to displace CO2 emissions. Built on the company’s proprietary software platform, Enernet’s Energy-as-a-Service offering benefits on- and off-grid customers by providing less expensive, more resilient power solutions at no capital outlay for customers.

Enernet has operations in Australia, the Philippines, the Caribbean and Sub-Saharan Africa, where it focuses on power solutions for sectors that include island development, mining, commercial and industrial, remote communities, agriculture, utilities and hospitality.

About Kyuden International Corporation (“Kyuden Inter”)
Kyuden Inter has been engaged in overseas IPP business and energy solutions services since 1999. Kyuden Inter is a subsidiary of Kyushu Electric Power Company, the fourth largest utility in Japan, which supplies electricity to customers in Kyushu, a region with an abundance of sunshine and small, remote islands; 40% of remote islands nationwide are supplied by Kyushu Electric Power.

Since its establishment 70 years ago, the power utility has developed experience that covers all fields from power generation to supply. Kyuden Inter, as an international business arm of the company, is able to support and adapt to the needs of IPP projects around the world. Providing overseas energy consulting, the company is committed to enhancing stable and sustainable energy around the world and supporting the microgrid market with its expertise. Visit https://www.kyuden-intl.co.jp/en/ for more information.

About MPC Capital AG (www.mpc-capital.com)
MPC Capital AG is an internationally active asset and investment manager specializing in real asset investments. Together with its subsidiaries, the company develops and manages investment products for international institutional investors, family offices and professional investors. Its focus is on the asset categories of real estate, shipping and infrastructure. MPC Capital AG has been a publicly traded company since 2000 and has approximately 280 employees group-wide.

Media contact:
Eugene Hunt
Trevi Communications for Enernet Global
Office: +1 978-750-0333 x101
Email: gene@trevicomm.com

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