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Firm Completes Fundraise Initiated in 2024
NEW YORK, Jan. 9, 2025 /PRNewswire/ -- Dispatch Energy, LLC ("Dispatch Energy" or the "Company"), a new provider of distributed energy solutions led by the sector's experienced team, today announced it has closed on capital commitments in excess of $209 million. The funding provided to Dispatch is a combination of platform-based debt and equity. This capital raise accelerates the company's growth strategy, which is focused on developing, owning, and operating distributed generation ("DG") and storage assets.
Dispatch Energy provides reliable and cost-effective energy solutions to commercial and industrial customers. The company's investments will focus on generating cost savings, resiliency, and grid services and are designed to meet the growing demand for on-site power generation.
"We are excited to be so formidably capitalized as the distributed generation market enters its next phase," said Richard Dovere, Chief Executive Officer of Dispatch Energy. "Industries across the spectrum need power, and DG is an essential part of filling that need. The flexibility of this capital enables our creative, hard-working team to provide dynamic solutions to customers."
Dispatch started the construction of $28 million of fuel cell facilities in Q4 and expects to deploy an incremental $150 million across a diverse portfolio of generation and storage facilities in 2025.
The company raised capital from employees, family offices, and institutional investors. This strong financial backing positions Dispatch for continued growth and market leadership in the distributed generation sector.
Dispatch was advised by White & Case on matters relating to its credit facilities, Tannenbaum Helpern Syracuse & Hirschtritt LLP on corporate matters, and David Burton at Norton Rose Fulbright on tax matters.
About Dispatch Energy:
Dispatch Energy is a full-service, customer-focused distributed energy solution provider. With principal experience managing over $1.5 billion of operating generation assets and $2.5 billion in U.S. energy and transportation investments, our team leverages our experience in solar, fuel cells, wind, battery storage, and energy efficiency to deploy the next generation of distributed infrastructure. The Company's mission is to bring the commercial energy transition to scale by providing a concierge experience to conceive, design, implement, and capitalize on the next generation of reliable energy infrastructure. Learn more about us at www.dispatchenergy.com.
Media Contact:
Allison Ruedig, twentytwo & brand
[email protected](872) 870-1302
SOURCE Dispatch Energy
