Market Overview

Energy Impact Partners Invests Big in Palmetto Clean Technology

Share:

EIP announced their $20 Million investment in the Leading Clean
Technology Software and Fulfillment Platform Company

Energy Impact Partners (EIP), the leading utility-backed energy
investment and innovation firm, today announced that it has provided up
to $20 million in financing facilities to Palmetto
Clean Technology
, a platform technology & fulfillment company
focused on the distribution and democratization of clean energy products.

"We are continually focused on reinventing the clean technology sector
and bringing innovation through software, fulfillment, customer service
and structured finance," said Chris Kemper, Founder, CEO, and Chairman
of Palmetto. "We aim to deliver a platform to enable other entrepreneurs
to launch, build and scale their own businesses by utilizing our
platform. These funds will help facilitate growth of the platform and
shorten the cash flow cycles that have been the root problem for many in
this industry."

This announcement comes on the heels of Palmetto's last capital raise in
the fall, of $6 million. The round was led by Greycroft, with
participation from Lerer Hippeau, Box Group, and NBA commissioner
emeritus David Stern.

"We continue to see opportunities in both the direct-to-consumer and
cleantech sector. Palmetto offers a similar
business-to-business-to-consumer platform that provides homeowners a
seamless way to go solar and save money while doing so," said Alan
Patricof, Founder of Greycroft.

"For the everyday consumer to focus on the renewable energy initiative
is at an all-time high right now," said former NBA Commissioner, David
Stern.

EIP invested in Palmetto via their Energy Impact Credit Fund (EICF), the
company's credit platform. The financing will be used to expand
Palmetto's North American presence, increase staffing and develop
programs to drive sales.

Harry Giovani, Managing Partner at EICF, commented: "We have been
looking at this space for a long time and were extremely impressed with
Palmetto's management and employee talent, as well as the way that all
employees are laser-focused on driving the strategic vision of the firm.
Chris has built a world class organization and we are excited to welcome
them to the EIP family."

Greg Richards, EICF Managing Director, added: "Working in partnership
with Chris and senior management, we were able to create a customized
financing structure that benefits all stakeholders, positions Palmetto
for sustained growth and helps the company achieve its strategic goals."

About Palmetto

Palmetto is the leading clean technology software and fulfillment
platform company. Palmetto is scaling the deployment of consumer
cost-saving clean technology products such as energy storage, solar
power, demand management systems, energy efficiency and beyond. Through
our advanced technology, we are gaining intelligent insights to reduce
cost of customer acquisition among other obstacles that have limited
success of the overall sector. Palmetto continues to innovate a
proprietary product pipeline, which will lead the sector in shaping
consumer energy consumption behavior. Palmetto is based in Charleston,
South Carolina with offices throughout the United States including
Charlotte, San Francisco and Salt Lake City. For more information please
visit www.Palmetto.com.

About Energy Impact Credit Fund

EIP established the Energy Impact Credit Fund to support U.S.-based
small- and middle-market businesses, with a specific focus on
energy-related investments. The group offers debt financing solutions
such as first- and second-lien secured term loans and unsecured debt,
leveraging EIP's existing infrastructure, deal flow, expertise in equity
investing, and utility partner network to broaden the firm's financial
solutions.

About Energy Impact Partners

Energy Impact Partners is a strategic private equity firm established in
2015 that invests in innovative technologies, services, and products
throughout the energy supply chain from generation to consumption. It
provides its strategic partners with critical information helping them
plot a path into the future. Through close collaboration with its
investor base, EIP seeks to bring the best companies, buying power and
vision in the industry to bear on the emerging energy landscape. EIP's
utility partners include Southern Company, National Grid, Xcel Energy,
Ameren, Great Plains Energy, Fortis Inc., AGL, Avista, MGE Energy Inc.,
TEPCO, PTT Public Company Limited, OGE Energy Corp., TransCanada, and
Alliant Energy. The firm has already deployed over $200 million into
advanced energy technology companies. For more information, visit www.energyimpactpartners.com.

View Comments and Join the Discussion!