Mercuria CSR Report 2020 - Flipbook - Page 57
PRISMA
Mercuria has recently joined as an anchor partner with other experienced private
equity firms looking to provide financing and logistics for renewable energy ventures.
The investment partnership – Prisma Energy Solutions – has up to USD 1.5 billion
of capital to deploy, of which Mercuria has committed to investing at least USD 100
million. At end of 2020, Mercuria had already invested almost half this amount.
Prisma’s mission is to invest in opportunities arising from the transition towards a
lower carbon economy, with particular emphasis on proven technologies in the Battery,
Wind and Solar Generation subsectors. It is led by individuals who themselves have
previously developed, operated and/or held ownership of industrial size renewable
power projects, and are experienced in regard to the effective deployment of capital in
this area. The investment team anticipates that Prisma will ultimately invest in 10-15
distinct portfolio companies.
BROAD REACH POWER
One example of a Prisma portfolio company investment is Broad Reach Power,
a utility-scale independent power producer established in July 2019 and based in
Houston, Texas. Broad Reach Power has assembled a portfolio of nearly USD 100
million of storage assets by applying advanced energy storage technology and power
market analytics to improve the operational and financial performance of traditional
and renewable utility-scale power generation facilities.
Greater storage capacity allows for more low-cost wind and solar to enter the power
grid, improving emissions and lowering power costs overall. The company owns a
three-gigawatt portfolio of utility-scale solar and energy storage power projects in
Montana, South Dakota, Wyoming, California, Utah, and Texas and is actively working
to expand this footprint to ensure the grid’s continued reliability and help meet the
demand for lower cost and emission-free generation resources.
BEYOND6
Beyond6 is a diversified energy solutions business with a focus on decarbonization
of truck transportation demand through renewable natural gas, electric charging, and
hydrogen. It currently own 58 renewable Compressed Natural Gas (CNG) stations
across 17 states with plans to open 8 additional stations in 2021. Much of its volumes
are contracted with large blue chip consumer goods and shipping customers. Beyond6
is also the preferred refueling partner with a leading electric truck manufacturer. In
addition to the refueling business, Beyond6 offers logistics services, where customers
can lease ultra-low carbon class 8 vehicles. Consulting on supply chain, shipping, fleet
operations and material handling are also part of the product suite offered by Beyond6.
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