Microporous has secured strategic credit financing from Eagle Point Credit Management to support construction of a lithium-ion battery separator manufacturing facility in Danville, Virginia. Elda River also participated in the financing.
Eagle Point directly originated and structured the financing for Microporous, a portfolio company of Trent Capital Partners. The capital will also help the manufacturer expand production capacity to meet demand from the automotive, industrial and grid-scale energy storage markets.
Battery separators are thin materials positioned between a battery’s positive and negative electrodes. They help prevent electrical short circuits while allowing ions to move through the battery during charging and discharging.
Microporous currently operates production facilities in Piney Flats, Tennessee, and Feistritz, Austria. The Danville plant will expand its U.S. manufacturing footprint and add capacity for lithium-ion separator products.
Trent Capital said the Virginia project will complement a significant expansion of Microporous’ existing lithium-ion separator production capacity in Tennessee.
Eagle Point manages approximately $14 billion across private credit strategies, including infrastructure credit, specialty finance and strategic credit investments.
Elda River is a real assets investment firm focused on energy and infrastructure. The firm has committed more than $7.3 billion across over 74 investments.
KEY QUOTES:
“Microporous’ strong sponsor support, deep operating history, experienced team and established leadership in battery separator manufacturing made this a compelling opportunity for our strategy.”
Jennifer Powers, Principal and Head of Infrastructure Credit at Eagle Point
“With the support of Trent, Eagle Point and Elda River, we are accelerating our expansion and strengthening our ability to deliver high-performance separator solutions for the lithium-ion battery market.”
John Reeves, CEO of Microporous
“A significant augmentation of the company’s existing lithium-ion separator production capacity in Piney Flats, Tennessee, will position Microporous to serve this exploding market for years to come.”
Ray Desrocher, Managing Partner of Trent Capital Partners
