I Squared Capital’s latest global infrastructure fund, ISQ Global Infrastructure Fund III, has invested an undisclosed sum in US energy supplier RPower
Founded in 2021, RPower focuses on behind-the-meter microgrid resiliency solutions that provide commercial and industrial customers, and other community infrastructure customers, with power during grid outages.
I Squared has so far targeted over $3bn (€2.72bn) across 11 energy transition portfolio companies working in renewables, storage, grid stability, energy efficiency solutions, distributed generation, behind-the-meter, clean fuels and the electrification of transportation on three continents.
Jeff Starcher, CEO of RPower, said: “I Squared’s equity and expertise will enable us to expand our offerings and provide our customers and the electric grid with innovative, customised solutions that address their specific needs.”
Jamie Smith, COO of RPower, said: “The need for onsite resilient generation has become more important over the past decade.
“Behind the meter, distributed energy resources, such as back-up generators, energy storage and other technologies, play a critical role in not only providing power when needed to customers but also improving the reliability of the electric grid when dispatchable, localised generation capacity is required for grid stability.
“The fresh capital from I Squared will enable us to deliver on our significant backlog of projects.”
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