January 07, 2021
Morgan Stanley Energy Partners Announces Strategic Partnership with SolMicroGrid
January 07, 2021
NEW YORK, NY — January 7, 2021 10:00 AM EST
Investment funds managed by Morgan Stanley Energy Partners (“MSEP”), part of Morgan Stanley Investment Management, announced today that they have completed an investment in Alpharetta, Georgia-based SolMicroGrid (“SolMicroGrid” or the “Company”). This strategic partnership will support the growth of SolMicroGrid’s business, which offers innovative microgrid solutions through an Energy-as-a-Service (“EaaS”) business model.
SolMicroGrid is a developer and operator of microgrid systems for commercial and industrial customers throughout North America. SolMicroGrid’s senior management team, led by Matthew Ward and Joyce Bone, has significant technical and operational microgrid and environmental services experience. The partnership with MSEP provides the Company with resources to accelerate the development of its assets, capabilities, and product offerings to its commercial and industrial customers. A portion of the proceeds from MSEP’s investment will go to support the initial deployment of SolMicroGrid’s solar-enabled microgrid systems to certain commercial and industrial customer locations in California. The microgrids will help protect those locations from power outages while providing cost-effective, renewable power.
John Moon, Head of Morgan Stanley Energy Partners, said: “We are delighted to be partnering with SolMicroGrid to develop innovative and efficient renewable energy systems for commercial and industrial customers. We believe this is a compelling opportunity to work with a forward-thinking, entrepreneurial management team and look forward to building on SolMicroGrid’s early success to provide clean and reliable on-site power to community-critical businesses.”
Matthew Ward, Co-Founder and CEO of SolMicroGrid, said, “We founded SolMicroGrid with a mission to provide customers with resilient, efficient and sustainable energy solutions utilizing the latest power generation and power storage equipment, all enabled by industry-leading software. We are excited to provide customers with a cost-effective and sustainable solution to rising electricity prices and grid instability. Morgan Stanley Energy Partners provides us with a strong sponsor who will assist us as we seek to build an industry-leading microgrid franchise.”
Joyce Bone, Co-Founder and President of SolMicroGrid, stated, “The rising cost and increasing complexity of sourcing not just clean but reliable power requires a new and innovative approach to the provision of electricity. We are excited to have the opportunity to share best-in-class solutions for our customers with the support of a world-class financial partner.”
Headquartered in Alpharetta, Georgia, SolMicroGrid is a differentiated developer and operator of solar-enabled microgrid systems offering energy resiliency and efficiency to commercial and industrial customers. For further information about SolMicroGrid, please visit www.solmicrogrid.com.
Vertical Capital Advisors served as financial advisor to SolMicroGrid’s Co-Founders.
About Morgan Stanley Energy Partners
Morgan Stanley Energy Partners, the energy-focused private equity business of Morgan Stanley Investment Management, is a leading energy private equity platform that makes privately negotiated equity and equity-related investments in energy companies located primarily in North America. Morgan Stanley Energy Partners pursues a differentiated investment strategy, focused on the buyout and build-up of strategically attractive, established energy businesses across the energy value chain in partnership with world-class management teams. For further information about Morgan Stanley Energy Partners, please visit www.morganstanley.com/im/energypartners.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 729 investment professionals around the world and $715 billion in assets under management or supervision as of September 30, 2020. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.