The Company's offering provides customers with, in most cases, zero capital cost on-site generation that substantially lowers electricity costs
BP Energy Partners has made an equity commitment to California-based Leading Edge Power Solutions (LEPS), a provider of clean, dispatchable, behind-the-meter power generation solutions for commercial and industrial customers. The Company’s offering provides customers with, in most cases, zero capital cost on-site generation that substantially lowers electricity costs by offsetting the utility grid during peak pricing hours, while also providing the resiliency of backup generation when the utility grid is interrupted.
Over the past three years, the founders of LEPS, David Walters, Dick Paulsen, and Mark Schneider, have brought together key disciplines of generator design and manufacturing, emissions control technology, and electric load analysis and modeling to provide customers with a comprehensive, transparent, and reliable Energy-as-a-Service (EaaS) solution. The Company’s cutting-edge generator technology and proprietary dispatch control system software also upholds compliance with the most stringent emissions standards in the United States, including those set forth by the South Coast Air Quality Management District (SCAQMD) in Southern California.
The investment by BPEP will fund existing and future distributed generation installations as well as fund the expansion of the Company’s EaaS platform.
“We are pleased to have the opportunity to partner with BP Energy Partners. Leading Edge Power Solutions has created a unique distributed energy resource with an extremely low emissions profile, allowing our customers to lower their carbon footprint, add a redundant/backup energy resource and lower their overall energy bill,” said David Walters, CEO of Leading Edge Power Solutions.
“We are excited to partner with Leading Edge Power Solutions and to attack this growing market opportunity. Commercial and industrial companies face a daunting outlook for electricity cost and reliability. Aging power infrastructure and escalating service interruptions continue to be juxtaposed to high-cost utility de-carbonization efforts and renewable portfolio standards, leading energy customers to seek behind-the-meter solutions to reduce energy costs and improve resiliency. We see Leading Edge Power Solutions as bringing these objectives together into a tangible, turn-key solution,” says Nathan Brawn, Managing Director of BP Energy Partners.
The need for energy transition toward distributed resources is prevalent, as best evidenced by the current rolling blackouts and wildfires occurring in California. LEPS is supporting the Power Safety, Power Shut-off (PSPS) program by offering immediate backup and critical electric generation services in partnership with fellow BPEP portfolio companies. LEPS can provide mobile natural gas-powered generation to commercial and industrial customers, while evaluating the potential for a long-term distributed generation solution.
Source: Company Press Release