NEW YORK, Feb. 19, 2019 (GLOBE NEWSWIRE) -- Energy Impact Partners (EIP), the leading utility-backed energy investment and innovation firm, announced that it has provided up to $20 million in financing facilities to Palmetto Clean Technology, Inc. through EIP’s credit platform, the Energy Impact Credit Fund (EICF).

“This is an important milestone for Palmetto,” said Chris Kemper, Founder, CEO, and Chairman. “We are continually focused on reinventing the clean technology sector and bringing innovation through software, fulfillment, customer service and structured finance. Our dream is to deliver a platform to enable other entrepreneurs to launch, build and scale their own businesses by utilizing our platform. These funds will help facilitate growth of the platform and shorten the cash flow cycles that have been the root problem for many in this industry.” Additionally, according to Kemper, the EICF financing will be used to expand Palmetto’s North American presence, increase staffing and programs to drive sales. 

Harry Giovani, Managing Partner at EICF, commented: "We have been looking at this space for a long time and were extremely impressed with Palmetto's management and employee talent, as well as the way that all employees are laser-focused on driving the strategic vision of the firm. Chris has built a world class organization and we are excited to welcome them to the EIP family."

Greg Richards, EICF Managing Director, added: "Working in partnership with Chris and senior management, we were able to create a customized financing structure that benefits all stakeholders, positions Palmetto for sustained growth and helps the company achieve its strategic goals."

About Palmetto Clean Technology, Inc.
Palmetto is the leading clean technology software and fulfillment platform company. Palmetto is scaling the deployment of consumer cost-saving clean technology products such as energy storage, solar power, demand management systems, energy efficiency and beyond. Through its advanced technology, the company is gaining intelligent insights to reduce cost of customer acquisition, among other obstacles that have limited success of the overall sector. Palmetto continues to innovate a proprietary product pipeline, which will lead the sector in shaping consumer energy consumption behavior.

About Energy Impact Credit Fund
EIP established the Energy Impact Credit Fund to support U.S.-based small- and middle-market businesses, with a specific focus on energy-related investments. The group offers debt financing solutions such as first- and second-lien secured term loans and unsecured debt, leveraging EIP's existing infrastructure, deal flow, expertise in equity investing, and utility partner network to broaden the firm's financial solutions.

About Energy Impact Partners
Energy Impact Partners is a strategic private equity firm established in 2015 that invests in innovative technologies, services, and products throughout the energy supply chain from generation to consumption. It provides its strategic partners with critical information helping them plot a path into the future. Through close collaboration with its investor base, EIP seeks to bring the best companies, buying power and vision in the industry to bear on the emerging energy landscape. EIP’s utility partners include Southern Company, National Grid, Xcel Energy, Ameren, Great Plains Energy, Fortis Inc., AGL, Avista, MGE Energy Inc., TEPCO, PTT Public Company Limited, OGE Energy Corp., TransCanada, and Alliant Energy. The firm has already deployed over $200 million into advanced energy technology companies. For more information, visit www.energyimpactpartners.com.

Contact info:
Eugene Hunt
Trevi Communications for Energy Impact Partners
gene@trevicomm.com
(978) 750-0333

Energy Impact Partners LP
contact@energyimpactpartners.com
(212) 899-9700