HMC Capital Announces Seed Investment for Energy Transition Platform

HMC Capital (ASX: HMC) is pleased to announce its strategic investment in StorEnergy Pty Limited (Stor-Energy), a specialist developer, owner and operator of utility-scale battery energy storage systems (BESS).

This represents the first investment by HMC Capital’s Energy Transition platform which is seeking to assemble a 15GW development portfolio across the energy value chain, including wind, solar, battery, bio-fuels and emerging technologies. Stor-Energy provides a foundation portfolio which can be further scaled to take advantage of favourable investment fundamentals for storage assets.

HMC Managing Director and CEO, David Di Pilla, said ‘Our investment in Stor-Energy represents an exciting step in the establishment of HMC Capital’s Energy Transition platform, something we have both the ambition and capability to develop into the National Champion for Australia’s decarbonisation”.

HMC Head of Energy Transition, Angela Karl, said: “We are impressed by the calibre of Stor-Energy’s management team, led by Gerard Dover, and believe the business has the potential to be scaled significantly.”

The transaction is expected to reach financial close early July 24.