SENNA

AltCrest Energy, DevEngine and Spring Lane Launch C$100 Million DER Fund

Toronto, Canada - In a move to capitalize on the growing distributed energy resources (DER) sector, a trio of investment firms have joined forces to launch a new C$100 million ($75 million) fund.

Spring Lane Capital, a Boston-based private equity firm focused on sustainable infrastructure, has partnered with AltCrest Energy, a Canadian energy-focused investment manager, and Development Engine Partners (DevEngine), a Toronto-based project development and advisory firm.

The new fund will target investments in technologies and business models across the DER landscape, including behind-the-meter solar, energy storage, microgrids, electric vehicle charging infrastructure and other distributed energy solutions.

"The DER market is rapidly evolving, and we see tremendous opportunities to invest in innovative technologies and platforms that can reshape the way energy is generated, stored and distributed," said Sasha Brown, Managing Partner at Spring Lane Capital.

According to industry sources, the fund has already identified several potential investment targets and is in advanced discussions with a number of companies in the DER space. The partners believe the Canadian market, in particular, presents a compelling opportunity given the country's ambitious climate goals and supportive regulatory environment for distributed energy.

"Canada is a global leader in the transition to a low-carbon economy, and we're excited to leverage our local expertise and relationships to identify the most promising DER investments," said Liam Gallagher, Managing Director at AltCrest Energy.

The new fund's launch comes at a pivotal time for the DER sector, which has seen rapid growth in recent years driven by falling technology costs, evolving customer preferences and the increasing urgency of addressing climate change. Global DER capacity is expected to more than double over the next decade, presenting a multi-trillion dollar investment opportunity.

"Distributed energy resources are poised to play a crucial role in the global energy transition," said Tanya Knowles, Managing Partner at DevEngine. "This new fund will allow us to back the innovative companies and technologies that are reshaping the way energy is produced, consumed and managed at the local level."