Broad Reach Power | Supporting PE-backed energy storage company from inception to billion-dollar sale
Broad Reach Power, a utility-scale storage independent power producer backed by leading energy investors EnCap Energy Transition, Yorktown Partners, Mercuria Energy and Apollo Infrastructure Funds, partnered with Pierpont in late 2019 to announce the company’s launch, create a web presence and generate media coverage.
In the summer of 2023, backed by Pierpont’s efforts, Broad Reach Power was acquired by French multinational utility company ENGIE for a total equity value in excess of $1 billion.
The formation of Broad Reach Power was significant as the company’s utility-scale battery plants give utilities, generators and customers in the Texas and California access to technological insight and tools for managing merchant power risk so they can better match supply and demand. In its inception, Broad Reach Power was also the first non-oil and gas investment by two leading energy private equity firms EnCap, as part of their EnCap Energy Transition Fund I, and Yorktown Partners.
During this time, Pierpont successfully positioned Broad Reach Power in the media as the leading U.S. developer and operator of renewable energy and energy storage power projects in Texas, California, and other markets.
Pierpont’s media relations efforts garnered regular coverage including:
- Top-Tier Media:
- The Wall Street Journal, Bloomberg, Reuters, and The Financial Times
- Energy Trades:
- Infralogic, Peak Load, Power Finance & Risk, Hart Energy, Utility Dive, The American Public Power Association, Canary Media and Energy Storage News
- Private Equity Media:
- Fortune, The Deal, PE Hub, MergerMarket, Infrastructure Investor and IPE Real Assets
- Local Media:
- The Houston Chronicle, The Houston Business Journal, and Houston Public Media
