Palladium Energy closes equity investment with Ultra Capital to continue growth of industry-leading utility-scale solar and storage development platform
Summary
The investment will be utilized to accelerate the growth of the Palladium team and development pipeline with a continued focus on originating, acquiring and developing high-quality solar and storage projects.In conjunction with this investment, Palladium has formed a Board of Directors initially comprised of the co-founders (Mark Mirabito, Nobel Chang and Danny Weidlich) and Mike Reynolds, Managing Director at Ultra Capital. The Palladium team has a proven track record of success and collectively more than 48 years of experience in power generation, including renewable and conventional resources, and has developed and financed projects totaling 6.9 gigawatts and $2.8 billion, respectively. "The investment by Ultra Capital represents validation of what Palladium has built to date, including the exceptional team, institutional-quality asset base and strategic partnerships. The co-founders of Palladium have an extensive track record of successfully developing, financing, constructing, and operating energy projects across markets (both in the U.S. and internationally) and technology/fuel types (solar, wind, gas, biomass). With decades of experience in asset management, renewables, finance and engineering, the Ultra Capital team shares a single goal: driving a more sustainable foundation for our future.