SER Capital Partners Acquires Projects to Install Battery Storage in Texas

SER Capital Partners, LLC (“SER”), a sustainable-investment focused private equity firm, has acquired three project companies from HGP (“HGP”), a Texas-based energy developer, in September 2020. As part of its investment, SER also entered into a strategic arrangement with LG Chem, Ltd. (“LG Chem”), a leading lithium-ion battery supplier to ensure the most environmentally sustainable, safest, and lowest cost equipment to serve its Texas customer base.

Sara Graziano, Partner of SER, said: “We believe that the acquisition of HGP’s provides an optimal path for SER to sustainably invest in Texas. These projects will help Texas integrate renewables and reduce fossil-fueled pollutants while improving the environment and providing economic benefits and jobs to the region. Further, our partnership with LG Chem gives us access to innovative, safe, and cost-effective equipment to deploy on these projects.”

“We have been working in the power markets for over 20 years and have seen firsthand the disruption that renewables and intermittent resources have had,” said Greg Forero, HGP Co-founder, and President. “As we move to a truly clean energy future and progress through the lifecycle of energy transition, our work alongside that of Perfect Power, a portfolio company of SER, will continue to focus on identifying the best in class assets that improve grid resiliency and achieve meaningful economic returns while accelerating the decarbonization of our energy grids.”

Rahul Advani, Managing Partner of SER added: “In closing on its second investment within the past three months and committing approximately $70 million of equity capital, SER has distinguished itself as a credible partner to talented management teams and to limited partner investors seeking PE investment opportunities tied to sustainability.”

Metric Point Capital acted as the exclusive placement agent for the fundraise.

About SER Capital Partners

SER Capital Partners is an independent, middle-market private equity firm dedicated to investing in North America’s sustainable industrial, environmental, and renewable businesses. Over the past two decades, its team members have amassed successful experience in its targeted sectors as private equity investors and senior executives at both private and public businesses. The firm’s strategy is to create attractive investments while also authentically measuring and improving sustainability. SER team members are also committed to aligning interests across its investors, team members, portfolio companies, and communities. More is available at www.sercapitalpartners.com.

About LG Chem

LG Chem is one of the world's largest lithium-ion battery manufacturers with a market-leading position in advanced batteries for grid-scale, residential storage, and automotive applications. Our advanced lithium-ion battery technology is the product of 26 years of experience in the development and production of mobile batteries and large format batteries for automotive and energy storage systems (ESS). LG Chem's commitment to technology leadership coupled with efficient and high-quality manufacturing processes produces batteries that exhibit the highest levels of safety, performance, and reliability. For more information about LG Chem's ESS Battery, please visit www.lgessbattery.com.

About HGP

HGP storage is a development and investment company focusing on building decentralized and distributed storage resources to achieve a decarbonized energy future. HGP storage was founded by a veteran team of energy and commodity executives, power system specialists, and engineers to provide Energy As A Service (EAAS) assets and storage solutions.

Metric Point Capital (Member FINRA and SIPC)

Metric Point Capital (“Metric Point”) is a capital advisory and placement firm specializing in raising institutional capital for alternative investment managers. Fund and co-investment assignments include leveraged buyouts, energy, real estate, infrastructure, royalties, mining, credit, and distressed debt, among others. Metric Point advises on all aspects of the fundraising process, including competitive positioning, preparation of marketing materials, comprehensive strategic fundraising planning, and distribution. The firm has professionals located in New York, Stamford, Chicago, Los Angeles, and Austin.

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