New York–based U.S. Grid Company (USGRDCO) has secured the investment backing of EnCap Investments and Yorktown Partners, two major energy investors.
USGRDCO will use the capital investments from EnCap and Yorktown to acquire and manage critical electric generation assets in major U.S. cities, assuring the reliability and resilience of the power supply in those cities.
The investments will decarbonize the power grid through the addition of large-scale battery storage systems, renewable energy projects, and the implementation of other technologies to achieve major carbon reduction.
“We are very pleased to have the strong support of EnCap and Yorktown,” said Jacob Worenklein, CEO of USGRDCO. “Their commitment will help us achieve our objective to catapult the energy ecosystem in the nation’s major cities towards the achievement of net zero carbon emissions with a high reliability of power supply.”
Since 1988, EnCap Investments has raised 21 inst
