SUNGRID EXPANDS ITS NORTHEASTERN UNITED STATES FOOTPRINT WITH THE ACQUISITION OF BLACK ELECTRIC INC.

HOUSTON, Sept. 20, 2022 /PRNewswire/ -- SunGrid Holdings ("SunGrid") has acquired Black Electric Inc., an electrical services contractor providing up-to-date, reliable and cost-effective electrical services to commercial, industrial, municipal and residential customers throughout the Hudson Valley of New York. SunGrid provides best in class comprehensive engineering, procurement and construction services, including balance of plant and integrated battery energy storage enclosure systems, to the global energy storage sector. The acquisition will enable SunGrid to provide services to projects scaling from 1 MW to 200 MW in support of ­­the New York's aggressive decarbonization and energy storage goals.

"This transaction advances SunGrid's position as a premier Battery Energy Storage Solution company. The addition of Black Electric to SunGrid gives us capability and depth of expertise to deploy battery energy storage projects across the state of New York as SunGrid continues to grow," said Jeremy Goertz, SunGrid CEO. "James and Daphne Black, the current owners of Black Electric, have done an exceptional job building Black Electric over the last two decades, and they will continue to manage the company to ensure continuity and excellence as we continue to serve local customers and municipalities. We are very excited to welcome the Black Electric team to SunGrid."

The Law Office of Jon Staley acted as the legal counsel to SunGrid.

SunGrid, a Hull Street Energy affiliate, has US headquarters in Houston, Texas, with global headquarters in Canada, and uses its strong execution-focused team to deliver excellent partnerships across the North American Energy Storage sector. The company is focused on the BESS industry and brings its engineering-first delivery strategy to Turnkey and Balance of Plant EPC, and Integrated BESS enclosure systems, including its PowerPlay and SimpleOS platform. Having in-house engineering capabilities throughout North America allows SunGrid to take on projects from 250kWh to 1GWh. By focusing on strong Engineering as part of EPC and turnkey project delivery, SunGrid is a projects first company. For further information about SunGrid please see www.sungridsolutions.com.

Founded in 1934, in Fishkill, NY, Black Electric Inc. provides electrical contracting services for commercial, industrial, municipal and custom residential electrical customers, including municipal projects, warehouses, water/waste water treatment facilities, medical facilities, retail stores, hotels and spas, equestrian facilities as well as site and infrastructure projects throughout New York State.

Hull Street Energy is a private equity firm that specializes in deploying capital into the power sector as it decarbonizes. Headquartered in Bethesda, Maryland, the team leverages its decades of experience and unique knowledge of North American electricity infrastructure, fundamentals and grid operations, including fuel inputs, commodity contract structuring, renewable and fossil powered generation assets, energy storage, transmission and distribution systems, and electricity demand-side businesses to build value for stakeholders. For further information about Hull Street Energy please see www.hullstreetenergy.com.

Media Contacts:

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press@hullstreetenergy.com

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SOURCE Hull Street Energy