A Florida-based investment firm has acquired a majority stake in Irish battery storage and off-grid power supplier HYbrid Energy Solutions (HES) for an undisclosed sum.
CJJ Hybrid Investments, led by the chairman of US mobile power company APR Energy, John Campion (pictured), said it had made “a sizeable financial commitment to HES”— which has a portfolio of more than 16GWh of lithium-ion battery storage capacity in place.
Campion said: “Just as we’ve done with APR Energy, we will position HES as an energy production partner, not just a supplier.”
Under the terms of the deal, Campion will continue in his role as a strategic adviser to HES.
HES is focused on markets in the developing countries of the Middle East, Africa, Asia, Central and South America. The company’s products include hybrid power generators and multi-source grid interface systems.
The CEO of HES Nick McGrath said Campion’s “success in the fast-track power generation market are certain to accelerate our growth and improve the all-around quality of our operation”. “This is especially so in the area of utility-scale energy storage, which is an absolute prerequisite for the successful integration of renewables into local and national grids.”