Relevate Power, originally named Elevate Power, has announced a significant rebranding initiative, which runs in parallel with an equity raise aimed at accelerating the company’s growth and scaling its service offerings. Matthew Wenger, the CEO of Relevate Power, highlighted the company’s distinct approach within the renewable energy arena, specifically emphasizing its role as a large-scale redeveloper of hydro assets. Relevate’s strategy involves acquiring hydroelectric portfolios with substantial latent potential and revitalizing them to enhance generation capabilities and reduce operational costs. Their distinguishing techniques include advanced analytics, automation, and upgrades that collectively overhaul the profitability of these renewable energy projects from the onset. Currently, Relevate operates 22 run-of-river hydropower facilities in the northeastern United States, with plans to triple its footprint by the year’s end, focusing on expansion in the Midwest and strengthening its New England presence. The rebrand echoes the company’s refined focus and strategic acquisitive intentions, as expressed by Goksenin Ozturkeri, the Chief Investment Officer. Relevate Power’s rebranded identity better mirrors its ambitious mission, with the added financial strength bolstering its execution capacity. Benjamin Baker, Managing Director at Greenbacker Development Opportunities, underscored the hydropower’s vital role in clean energy transitions and endorsed Relevate’s market potential and adept management team. The business model focuses on enhancing underperforming hydropower facilities to ensure consistent, clean energy supply for local communities. Conceived in 2021 through a merger and with the backing of Greenbacker Development Opportunities Fund I managed by Greenbacker Capital Management, Relevate Power’s goal is to redevelop underutilized hydropower plants, thus offering affordable, clean energy solutions to rural America’s significant establishments.
Renewable Energy, Investment Management & Private Equity,United States
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