Berlin, December 08, 2016: Apricum – The Cleantech Advisory, recently facilitated a strategic investment by Statoil Energy Ventures for its client Convergent Energy + Power, a market-leading energy storage asset developer. The Statoil partnership will support Convergent’s current pipeline of projects, as well as help to reach new customers.
After a comprehensive global search for the most suitable investment partners, Apricum identified Statoil Energy Ventures, one of the largest corporate funds dedicated to renewable energy with a size of over USD 200M. “Apricum’s successful introduction of Statoil to Convergent demonstrates the attractiveness of compelling energy storage business models to large energy companies. It is also a clear endorsement of Convergent’s capabilities, vision, and convincing pipeline of projects,” said Florian Mayr, partner at Apricum.
“Our partnership with Statoil represents the continuing expansion of our energy storage offerings,” said Johannes Rittershausen, Convergent’s CEO. “We are leveraging our experience with over 70 MW and $200 million in contracted energy storage projects, as well as the expertise of one of the largest energy companies in the world, to provide compelling solutions for both utilities and large end-users of electricity.”
The Statoil investment represents the second successful transaction for Convergent introduced by Apricum, following the recent project financing deal with SUSI Partners and CJF Capital for a 12 MW portfolio of energy storage assets. This latest deal further demonstrates Apricum’s understanding of the burgeoning energy storage sector and its extensive network to interested capital providers.
About Convergent Energy and Power
Convergent Energy + Power is a technology-neutral energy storage asset developer with experience across a wide range of projects, from commercial and industrial applications to grid-connected systems. The company manages all aspects of the energy storage asset development cycle, including project specific opportunity identification and economic evaluation, contract and financial structuring, engineering-procurement-construction, as well as operations and maintenance. For more information, visit www.convergentep.com or contact info@convergentep.com
About Statoil Energy Ventures
Statoil Energy Ventures was established as part of Statoil’s new business area New Energy Solutions, reflecting the company’s aspirations to gradually complement its oil and gas portfolio with profitable renewable energy and low-carbon solutions. The fund will invest up to $200 million. For more information, contact seven@statoil.com.
About Apricum – The Cleantech Advisory
Apricum – The Cleantech Advisory is a transaction advisory and strategy consulting firm specialized in renewable energy technologies. Apricum’s team combines many years of corporate finance experience with an in-depth understanding of renewable energy market dynamics. Apricum has an extensive global network of strategic and financial investors, providing expertise and support to close the most favorable transactions. Apricum is headquartered in Berlin with branch offices in Abu Dhabi and Dubai and further representative offices in the UK, Turkey, Saudi Arabia, India, China, South Korea, Japan, Indonesia, the Philippines, Thailand, USA, Mexico, Brazil and Argentina.
Apricum contact
Cate Holtz, manager marketing and communications
holtz@apricum-group.com
Telephone + 49 30 30 877 6236
Apricum – The Cleantech Advisory
Spittelmarkt 12, 10117 Berlin, Germany
www.apricum-group.com