Energy Impact Partners Closes First Credit Fund Investment

NEW YORK, March 13, 2018 -- Energy Impact Partners (EIP) today announced that it has closed an investment in Tendril Networks, Inc. (Tendril), a leader in residential energy analytics. This is the first investment made through EIP’s Energy Impact Credit Fund (EICF). Zoma Capital, one of EIP’s institutional investors, also participated in the transaction.

Formed in 2004 and based in Boulder, Colorado, Tendril is backed by some of the largest blue-chip venture capital investors and has become a leader in residential energy analytics. The company’s offerings include behavioral energy efficiency and customer engagement with its home energy report and bill monitoring products, and continuous demand management through its Orchestrated Energy product.

Harry Giovani, Managing Partner at EICF, commented: “Tendril is a leader in residential energy analytics and one of a select few companies of scale in the industry. We are very impressed by their management and technical talent and look forward to supporting the company’s growth plans.” 

“This transaction showcases our credit structuring capabilities and our unique ability to underwrite organizations in the space,” added Greg Richards, Managing Director at EICF.

“Energy Impact Partners has played an important role contributing to the evolution of the energy industry,” said Adrian Tuck, CEO, Tendril. “They apply a rigorous process to identify the partners they invest in, making this deal a testament to Tendril’s leading Demand Side Management Platform and successful track record serving electric and gas utilities. We look forward to a long, productive relationship.”

Tendril differentiates itself from its competitors by offering a robust DSM data analytics platform rather than simple point solutions, as well as having product flexibility to meet customers’ individual needs. In the last few years, Tendril has developed revolutionary product offerings, such as Orchestrated Energy, to closely integrate with best-of-breed connected energy solutions providers to optimize demand response and enhance customer satisfaction.

“We are very excited about this first investment by our newly launched credit fund, offering further value-added financing solutions to the energy industry,” noted Hans Kobler, CEO and Managing Partner at EIP.  

EIP established EICF to support U.S.-based small- and middle-market businesses, with a specific focus on energy impact-related investments.

About Energy Impact Partners
Energy Impact Partners is a private equity firm that strategically invests in innovative technologies, services, and products throughout the electricity supply chain from generation to consumption. Through close collaboration with its investor base, EIP seeks to bring the best companies, buying power and vision in the industry to bear on the emerging energy landscape. EIP’s utility partners include Southern Company, National Grid, Xcel Energy, Ameren, Great Plains Energy, Fortis Inc., AGL, Avista, MGE Energy Inc., TEPCO, PTT Public Company Limited, OGE Energy Corp., TransCanada, and Alliant Energy. For more information, visit www.energyimpactpartners.com.

About Tendril
Tendril is transforming the residential energy market. Our data analytics on more than 123 million homes creates new business opportunities for electric and gas utilities and energy retailers. Built over more than a decade, the Tendril Platform delivers real-time, ever-evolving data about the home and how people use energy in it. These rich insights help our customers deliver industry-leading behavioral energy efficiency, customer engagement and demand management programs. For more information, please visit www.tendrilinc.com and follow us on Twitter at @tendril.

About Zoma Capital
Zoma Capital is the investment arm for the family office of Ben and Lucy Ana Walton, based in Denver. Zoma Capital invests in a broad range of market‐based sustainable solutions addressing environmental and social problems, with an emphasis on energy, water, workforce and community development and with a geographic focus on Colorado and Chile.

Contact info:
Eugene Hunt
Trevi Communications for Energy Impact Partners
[email protected]
(978) 750-0333

Energy Impact Partners, LLC
[email protected]
(212) 899-9700