May 23, 2023   SOURCE: BusinessWire

Equilibrium Energy and Hatch Renewables announce partnership to provide firm offtake to utility scale storage developers

Equilibrium Energy (“Equilibrium”) and Hatch Renewables (“Hatch”) today announced a partnership to manage utility-scale battery storage by pursuing tolling agreements with developers that have operating assets or projects with near-term commercial operation dates. Equilibrium and Hatch have been working closely together over the past year to formalize the partnership and screen an initial set of tolling opportunities in ERCOT. Equilibrium was formed by its CEO, Ryan Hanley, and a team with extensive experience in commercial structuring, power systems engineering, machine learning and AI, risk management, and software engineering. Hatch was formed by its CEO, James Murchison, and a highly skilled team with a deep-rooted understanding of ERCOT grid operations and backgrounds in managing risk, optimizing power assets, and structuring investments to maximize financial returns.

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Equilibrium CEO, Ryan Hanley, said, “We have deeply enjoyed working with Jimmy and Hatch to develop this strong partnership, and we are excited to be taking it to market together. Equilibrium and Hatch have a shared view of how innovative commercial structures paired with cutting edge software, AI, and power systems fundamentals can provide a compelling and much needed offtake for our storage development partners. Plus, we’re collectively mitigating carbon emissions and enabling clean energy, which is the core motivation.”

Hatch Renewables CEO, James Murchison, said, “We are thrilled to be working with Ryan and his team at Equilibrium. Equilibrium and Hatch have a shared goal of reshaping the clean energy economy and believe our complementary skill sets will accelerate Equilibrium and Hatch’s impact on that transformation.”

About Equilibrium Energy

Equilibrium Energy is building a next-generation clean power company to accelerate our collective paths to climate and energy equilibriums. Founded in 2021, Equilibrium operates at the intersection of cutting-edge machine learning and AI, power grid fundamentals, modern software, power market volatility, commercial structuring, asset optimization, and risk management across the power value chain. Equilibrium is composed of cross-disciplined experts with decades of experience in energy, science, and software. Equilibrium thrives on combining its experiences in holistic and novel ways in pursuing its climate impact ambitions. For additional information, please visit: www.equilibriumenergy.com.

About Hatch Renewables

Hatch Renewables was formed in 2022 in partnership with its financial sponsor, Ridgemont Equity Partners. Hatch is focused on growing the clean energy economy by investing in transition projects and assets that Hatch believes will generate attractive private equity returns. Some of the initial strategies Hatch is pursuing include utility-scale battery development and tolling opportunities, and the acquisition of renewable royalties. The Hatch team is made up of individuals with deep expertise in power asset optimization, solar development, and financial structuring. For additional information, please visit: www.hatchrenewables.com.

About Ridgemont Equity Partners

Ridgemont Equity Partners is a Charlotte-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested over $6 billion. The firm focuses on equity investments up to $500 million and utilizes a proven, industry-focused investment approach and repeatable value creation strategies. For additional information, please visit: www.ridgemontep.com.