Apollo Global Management has joined Altira Group and the founding investment group as a backer of FlexGen Power Systems, an integration services and software technology provider for energy-storage solutions.
Apollo has committed $150 million to FlexGen, which has supported the deployments of more than 1.2 gigawatt hours of energy-storage systems across the United States and internationally since 2009. The company services utility, microgrid and C&I customers.
FlexGen's proprietary software platform allows energy-storage owners to deploy various power market strategies and combine storage solutions with any form of generation.
“Energy storage assets play a crucial role in the transition to an economy powered by intermittent renewable energy sources,” said Olivia Wassenaar, senior partner and co-lead of natural resources at Apollo. “This transition to renewable power is happening at a time where reliability and resiliency are more important than ever for