Redeux Energy Launches Corporate Equity Raise; Retains Marathon Capital as Financial Advisor

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DENVER, March 7, 2024 /PRNewswire/ -- Redeux Energy Partners LLC ("Redeux"), a leading utility-scale solar and energy storage development company, has retained Marathon Capital, LLC ("Marathon Capital") as its exclusive financial advisor to raise corporate-level equity capital.

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Thursday, March 7, 2024
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Carbon, Acquisition, Engineering, MISO, Cathexis, Risk management, IPP, ERCOT, Education minister, Growth, Sale, Marathon Capital, RES, General counsel, BayWa, Developer, WECC, POI, Human resources, Becker, BP Solar, Renewable energy
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REDEUX ENERGY, MARATHON CAPITAL
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  • DENVER, March 7, 2024 /PRNewswire/ -- Redeux Energy Partners LLC ("Redeux"), a leading utility-scale solar and energy storage development company, has retained Marathon Capital, LLC ("Marathon Capital") as its exclusive financial advisor to raise corporate-level equity capital.
  • The process is targeting investors interested in taking a minority position in the cap table, closing by Q3 2024.
  • Proceeds will be deployed to expand pipeline origination efforts, fund ongoing development for existing pipeline, and continuously improve the platform's capabilities.
  • Shaw Renewable Investments, Community Energy, BayWa r.e., Canadian Solar, and BP Solar to lead Redeux's origination strategy and project portfolio development.




Redeux Energy Launches Corporate Equity Raise; Retains Marathon Capital as Financial Advisor

DENVER, March 7, 2024 /PRNewswire/ -- Redeux Energy Partners LLC ("Redeux"), a leading utility-scale solar and energy storage development company, has retained Marathon Capital, LLC ("Marathon Capital") as its exclusive financial advisor to raise corporate-level equity capital. The process is targeting investors interested in taking a minority position in the cap table, closing by Q3 2024. Proceeds will be deployed to expand pipeline origination efforts, fund ongoing development for existing pipeline, and continuously improve the platform's capabilities.

Redeux's first multi-state, GW-scale portfolio sale is in advanced stages of diligence and contracting with multiple leading IPP counterparties, with a first closing expected by early Q2.  "Nearing the finish line for this first portfolio sale, we are excited to expand our investor group to fund our next phase of growth," said Rob Masinter, Chief Executive Officer.

Other recent highlights include:

  • 6 GW / 6 GWhr project pipeline capacity spans 12 states across MISO, SERC, WECC and ERCOT energy markets
  • Three notable additions to leadership team; four recent additions to the Developer team have doubled its capacity 
  • Company headcount currently totals 40 professionals

Redeux has implemented a full suite of development capabilities that include market and POI targeting, site acquisition, permitting and environmental, transmission and facility engineering, as well as project finance for early- and mid-stage solar and storage projects. Established quality filters and risk management protocols drive high success rates for pipeline projects. An exceptional management team leverages decades of collective IPP and utility development, deployment and operating experience to have scaled project origination capacity to 5 GW/year. The long-term outlook for US solar and energy storage remains exceptionally strong, with over 370 GW of solar build and 121 GW of battery storage build projected in the U.S. between 2023 and 2030[1].

The company has recently added several seasoned professionals to its leadership team.

  • Jeff Becker, General Counsel, brings 23 years of corporate and transactional experience in the energy industry - including utility scale renewables with RES and carbon capture and sequestration with Carbon America.
  • Noah Eckert, Vice President of Development, leverages 20 years of experience with D.E. Shaw Renewable Investments, Community Energy, BayWa r.e., Canadian Solar, and BP Solar to lead Redeux's origination strategy and project portfolio development.
  • Laura Anninos, Director, Human Resources, brings over 15 years of experience with organizational development, process implementation and high-performance culture.

"Redeux continues to demonstrate excellent management capability and follow-through on its commitments.  Cathexis is excited by the prospect of bringing fresh capital into the business to support the next phase of growth," said William Harrison, CEO of Cathexis Holdings, the company's largest shareholder.

About Redeux Energy
Redeux Energy is a utility-scale solar and storage development company with expertise in a range of strategies to transform greenfield, brownfield and industrial lands into renewable power infrastructure that produces new revenue streams and addresses local needs for economic and workforce development. Redeux is powered by exceptional people and processes. Redeux is backed by Cathexis Holdings - a Houston-based, multi-billion dollar, single-member family office with active investments across industries including real estate, infrastructure, and energy. Thoroughbred Holdings, a Redeux investor and co-founder, originates and supports investments in world-class infrastructure, energy and natural resource assets.

REDEUX ENERGY CONTACT
Ashley McMacken
[email protected] 

About Marathon Capital
Over its more than two-decade history, Marathon Capital has emerged as the world's largest independent advisory bank serving the global sustainable energy, technology and infrastructure markets. Marathon Capital is known as a key thought leader in global energy transition and is consistently viewed as the most innovative bank across clean energy. Since inception, Marathon Capital has been engaged by its clients and institutional counterparties across all clean energy sectors. The Company has strong, established relationships with both strategic and financial institutional investors located throughout the United States, Canada, Latin America, Europe, Middle East, Asia, and Australia. Marathon Capital operates from its global headquarters in Chicago and offices in New York, Houston, San Francisco, London, as well as representative offices in São Paulo, Madrid, and Seoul.

1 Bloomberg NEF 2H 2023 US Clean Energy Market Outlook

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SOURCE Redeux Energy



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