Grey Rock Investment Partners, a $1.3 billion private-equity firm, through its affiliated investment vehicles, announced an agreement to make a controlling investment in Conduit Power, and fund additional growth of the company through a capital commitment of as much as $100 million.
Conduit intends to use the committed capital to execute on its strategy of offering a full-service solution to help commercial and industrial customers reach their decarbonization goals while lowering power procurement costs and improving the uptime and reliability of delivered power. Conduit has developed a robust pipeline of actionable projects in the Southern U.S., with an initial focus on energy companies in Texas.
Grey Rock believes the capital needs for advanced electrification, particularly within the energy sector, are dramatically underserved by traditional capital sources,” said Matt Miller, Grey Rock co-founder and managing director. “We are excited to partner with Conduit’
