Palladium Energy – a leading utility-scale solar and storage developer within the U.S. – recently announced the closing of a $10 million corporate equity investment from Ultra Capital. This private investment firm provides growth equity and asset capital to companies focused on the energy transition and de-carbonization. And the funding 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.
With this investment, Palladium has formed a Board of Directors of the co-founders (Mark Mirabito, Nobel Chang, and Danny Weidlich) and Mike Reynolds, Managing Director at Ultra Capital. With more than 15 years of experience, Mike brings knowledge and experience in the power and renewables markets and will provide insights to support Palladium’s growth and execution.
Palladium differentiates itself within the industry through its deep experience originating, developing, and financing energy projects across multiple markets and technologies/fuel types. And 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.
KEY QUOTES:
“Since the inception of Palladium, the company has emphasized building a best-in-class team as the foundation for long-term, sustainable success in the growing yet complex industry of renewable power generation. 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. We are grateful for the trust and confidence of the Ultra Capital team and are thrilled to partner on the next phase of growth for the company.”
— Danny Weidlich, Chief Executive Officer of Palladium
“We are in the midst of a once-in-a-generation change to the power generation mix as the de-carbonization of the electrical grid accelerates. We are thrilled to partner with a team as experienced and accomplished as Palladium. Danny, Mark and Nobel have a strong development track record and we look forward to supporting their continued growth and success in the future.”
— Mike Reynolds, Managing Director at Ultra Capital
