Antin Infrastructure Partners has bought a majority stake in US smart-grid, clean electrification company PearlX for an undisclosed sum.
PearlX, founded in 2019, provides smart grid infrastructure in the multi-family residential housing segment.
Antin – investing on behalf of its NextGen platform – said the investment will be deployed to scale up the team and platform, “execute on a robust pipeline of solar and storage systems, and continue to expand electrification offerings” to underserved multi-family rental communities in California, Texas, and across the US.
The deal marks the first US investment for Antin’s NextGen platform. The NextGen strategy’s portfolio includes UK smart grid developer and operator SNRG and European electric vehicle charging companies, Power Dot and RAW Charging.
Nathalie Kosciusko-Morizet and Rakesh Shankar, NextGen Partners at Antin said: “PearlX fully aligns with NextGen’s mission of identifying and building tomorrow’s sustainable and connected infrastructure landscape. We look forward to working with the exceptional PearlX team to further these important goals.”
Michael Huerta, PearlX co-founder and CEO, said: “Antin’s investment in PearlX along with our management team’s experience in renewable energy and community solar provides a world-class foundation for our shared vision of smart grid infrastructure platforms.
“We are excited to partner with Antin to scale our solution and deliver cleaner, resilient, and more accessible energy solutions to additional middle-to-lower income rental communities.”
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