Catalyst Power Announces Acquisition of NY Retail Energy Provider US Energy Partners LLC
Acquisition establishes first beachhead for Catalyst Microgrid plus Retail Energy roll out
NEW YORK, NY. — Catalyst Power Holdings LLC (“Catalyst Power”) is pleased to announce the acquisition of US Energy Partners LLC (“USEP”), a Buffalo, New York – based retail energy provider (“REP”) founded in 2002 that supplies cost-effective electricity to a wide array of 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.
We are excited to partner with the entire USEP team to pursue this growing market opportunity.
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.
“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.”
Catalyst Power announced a commitment from BP Energy Partners (“BPEP”), a Dallas, Texas – based 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.
About Catalyst Power Holdings LLC
Catalyst Power Holdings LLC is an independent, integrated retail energy and distributed energy solutions provider based in New York. Through its subsidiaries, Catalyst markets novel energy supply options and connected microgrid solutions such as solar and natural gas generation to underserved middle-market commercial and industrial end-use customers that improve the overall efficiency and environmental impact of their supply. Catalyst is a portfolio company of BP Energy Partners, LLC. More info: www.catalystpower.com
About BP Energy Partners, LLC
BP Energy Partners, LLC (BPEP), is a Dallas, Texas based growth-oriented private equity firm. Since inception, BPEP has focused on a lower carbon future by establishing and growing sustainable and responsible companies in the natural gas value chain including infrastructure, power, logistics, transportation, environmental services, renewable natural gas, midstream, and distribution. BPEP will also invest in low carbon energy solutions and renewables. BPEP collaborates with entrepreneurs, family-owned businesses, project developers, and experienced management teams to provide patient capital, financial and operating expertise, and deep industry relationships. BPEP currently manages over $550 million in committed capital and is actively investing in new opportunities. More information can be found at www.bpenergypartners.com.
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Meghan Witmer
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