NEW YORK & PARIS & LONDON--(BUSINESS WIRE)--Regulatory News:
Antin Infrastructure Partners (Paris:ANTIN) announced today that it has invested in a majority stake in PearlX, an owner and operator of fully integrated smart grid infrastructure systems. PearlX provides an innovative solution that decarbonizes existing multi-family rental properties and provides residents with cheaper, cleaner, and more reliable energy.
PearlX, founded by Michael Huerta and Peter Mendonez in 2019, is the first mover of scale of smart grid infrastructure in the US multi-family residential housing segment. Through a proven state-of-the-art solution combining rooftop solar panels, communal battery storage and community electrification, PearlX works with landlords to optimize their “energy estate”. This provides renters with backup power and bill savings, and landlords with new income streams, community amenities and improved ESG performance.
The investment will be deployed to scale up the team and platform, execute on a robust pipeline of solar and storage systems, and continue to expand electrification offerings to underserved multi-family rental communities in California, Texas, and across the US. As the first US investment of Antin’s NextGen platform, PearlX joins a unique portfolio that includes SNRG, a UK-focused smart grid platform, and two European electric vehicle charging platforms, Power Dot and RAW Charging.
Michael Huerta, PearlX co-founder and CEO stated: “Antin’s investment in PearlX along with our management team’s experience in renewable energy and community solar provides a world-class foundation for our shared vision of smart grid infrastructure platforms. We are excited to partner with Antin to scale our solution and deliver cleaner, resilient, and more accessible energy solutions to additional middle-to-lower income rental communities.”
Nathalie Kosciusko-Morizet and Rakesh Shankar, NextGen Partners at Antin commented: “PearlX fully aligns with NextGen’s mission of identifying and building tomorrow’s sustainable and connected infrastructure landscape. We look forward to working with the exceptional PearlX team to further these important goals.”
About PearlX
PearlX is a smart-grid, clean electrification company that owns and operates renewable energy infrastructure. PearlX’s mission is to provide energy accessibility, protection and affordability for multifamily renters across the United States. The company partners with multifamily landlords to deploy future-proof infrastructure and create economic benefits for communities. As families increasingly face climate-linked adversity including blackouts, higher temperatures and more extreme weather events, PearlX seeks to restore resilience and reliability.
About Antin Infrastructure Partners
Antin Infrastructure Partners is a leading private equity firm focused on infrastructure. With over €30 billion in assets under management across its Flagship, Mid Cap and NextGen investment strategies, Antin targets investments in the energy and environment, digital, transport and social infrastructure sectors. With offices in Paris, London, New York, Singapore and Luxembourg, Antin employs approximately 200 professionals dedicated to growing, improving and transforming infrastructure businesses while delivering long-term value to portfolio companies and investors. Majority owned by its partners, Antin is listed on Euronext Paris (Ticker: ANTIN – ISIN: FR0014005AL0).