Guzman Energy Raises $130 Million in Liquidity to Fund Continued Growth
August 16 2018 - 1:49PM
Business Wire
Colorado-Based Energy Investors Vision Ridge
Partners, ZOMA Capital Provide a Combined $130 Million Investment
Via Equity and a Mezzanine Financing Facility
Guzman Energy Group (“Guzman Energy”)—a full-service energy
company whose services include providing wholesale power, energy
trading and hedging services—announced today that it has secured
$130 million in additional liquidity to continue to expand its
efforts to deliver cheaper and greener energy to consumers in the
West and beyond. Experienced energy investors Vision Ridge Partners
and ZOMA Capital are providing the capital.
The energy landscape in the United States is rapidly evolving to
a renewable, distributed future. Guzman Energy is playing a leading
role in bringing this future forward in the bilateral markets of
the West, while at the same time significantly lowering prices,
particularly in rural communities.
“We are very pleased to have Vision Ridge Partners and ZOMA
Capital join us as partners,” said Leo Guzman, Chairman and CEO of
Guzman Energy. “Not only do their respective investments in the
company represent a tremendous validation of our leadership
position to bring about change, but their strategic insights, deep
relationships and significant resources will play an important role
in Guzman Energy reaching its full potential.”
In aggregate, both new investors will hold a minority interest
in Guzman Energy, and representatives from Vision Ridge and ZOMA
will join the Guzman Energy Board of Directors.
“We offer communities—empowered by their desire for a more
sustainable and competitive energy future—a path to achieve their
goals,” said Chris Riley, President of Guzman Energy. “We
accomplish this via a focus on renewables, mixed when necessary
with traditional fuel types; smart-grid tech; increased
efficiencies; battery storage; and more, thereby leading the
efforts to transition our energy economy into the renewable age. We
want to pave the way toward a better future for generations to
come—both on and off the energy grid.”
In February 2017, Guzman Energy shook up the energy status quo
by announcing a partnership with Kit Carson Electric Cooperative
(KCEC) to enable the northern New Mexico counties of Taos, Colfax
and Rio Arriba to achieve summer solar energy independence by 2022.
In addition to generating renewable energy to cover 100 percent of
the summer daytime load—saving 30,000 co-op members $50 million to
$70 million in the next 10 years—Guzman Energy seeks to foster
competitiveness and spur greater opportunity in the communities
they serve.
“ZOMA Capital invests in a wide range of market-based
sustainable solutions addressing environmental and social
challenges, including energy, water and community development,"
said Melissa Cheong, Chief Investment Officer
of ZOMA Capital. “Guzman Energy’s efforts to realign the
energy economy—in unique bilateral markets in New Mexico, Colorado
and beyond—aligns with our dedication to investing in a more
efficient, responsive and modernized electric grid.”
“At Vision Ridge, we focus on opportunities that are good for
the environment that we also believe can deliver strong financial
returns,” said Reuben Munger, Managing Partner and Founder of
Vision Ridge Partners. “And with Guzman Energy having been
very vocal in sharing its long-term mission of making communities
thrive and be more competitive, we see this as an excellent
fit.”
About Guzman Energy
Guzman Energy is a wholesale energy company that supplies and
trades power across North America. We are a new kind of power
company—one that customizes energy solutions via trading expertise
and sophisticated quantitative modeling. We enable
customers—principally rural electric cooperatives and municipal
power companies—to achieve lower rates and price-stability from
renewable, sustainable energy. Headquartered in Coral Gables, Fla.,
and Denver, Colo., Guzman Energy has unique expertise in serving
customers in the bilateral power markets of the Western United
States and conducts its business through two practice areas: Energy
& Environmental Trading and Energy Hedging & Risk
Management. To learn more, visit www.GuzmanEnergy.com.
About ZOMA Capital
ZOMA Capital invests in a broad range of market-based
sustainable solutions advancing energy, water and regional economic
resiliency in Chile and Colorado. Its global investment portfolio
spans multiple asset classes and sectors with an emphasis on
addressing environmental and social challenges. To learn more,
visit https://ZOMAlab.com/ZOMA-capital/.
About Vision Ridge
Vision Ridge Partners is a private equity firm, investing in
sustainable real assets and asset-backed opportunities. Vision
Ridge specializes in opportunities that generate strong financial
returns in fundamentally impactful sectors, including renewable
power, agriculture, water, waste-to-energy, transportation, energy
efficiency and land. The firm was founded in 2008 and is based in
Boulder, Colo., with an additional office in New York, New
York.
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For Guzman Energy GroupMedia Contact:Jay Rand,
312-802-8803jay@thr33fold.com