Agilitas Energy
Overview
Agilitas Energy is a leading developer, owner, and operator of distributed energy storage and solar photovoltaic (PV) systems based in Wakefield, Massachusetts. Founded in 2014 by Barrett Bilotta, Ken Rubin, and Eamonn Healy, the company has positioned itself at the forefront of the renewable energy sector in the northeastern United States. Through various strategic partnerships and investments, including significant funding rounds that have raised $350 million, Agilitas Energy continues to expand its footprint across the U.S., with a pipeline exceeding one gigawatt of renewable energy projects.
Recent Developments
In recent years, Agilitas Energy has made significant strides in expanding its operations and securing substantial financing, positioning itself for continued growth in the renewable energy sector. Key recent developments include:
- April 2024: Agilitas Energy secured $100 million in debt financing from Nomura Securities International, a deal that could increase to $200 million upon completion of specified projects. This financing aims to construct more than 250 megawatts of solar and energy storage projects over the next three years. This move is part of Agilitas’s strategic plan to develop and expand its projects nationwide.
- June 2024: Agilitas announced its entry into the California power market by integrating into the CAISO (California Independent System Operator) market. This expansion is part of their national footprint growth, building on their success in the ISO-New England and ERCOT markets.
- March 2023: The company acquired a $75 million portfolio of six energy storage projects in Texas from Gulf States Renewable Energy. This acquisition adds 60 MW to Agilitas Energy's project pipeline, significantly boosting its presence in the Texas energy market.
- May 2023: Agilitas Energy signed a strategic development partnership with Oak Square Partners to focus on renewable energy projects in New England, including solar PV and battery storage systems in Massachusetts, Rhode Island, and New Hampshire.
- 2023: Agilitas Energy completed construction of a 4.8MW/23.7MWh standalone battery system in Con Edison’s NYC service area—the largest of its kind in the region. This project supports New York State’s aggressive energy storage targets by enhancing grid reliability and supporting the transition to clean energy.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2014 |
| Headquarters | Wakefield, Massachusetts, USA |
| Founders | Barrett Bilotta, Ken Rubin, Eamonn Healy |
| Revenue | Not disclosed |
| Profits | Not disclosed |
| Key Investors | CarVal Investors, Nomura Securities International |
| Industry | Renewable Energy, Energy Storage |
| Number of Employees | 37 |
Early History
Agilitas Energy was established in 2014, driven by a mission to accelerate the transition to clean energy across the United States. The founders, Barrett Bilotta, Ken Rubin, and Eamonn Healy, leveraged their industry expertise to position the company as a leader in renewable energy solutions, particularly focusing on solar and energy storage systems. From its inception, Agilitas prioritized innovation and strategic growth, which included the development of proprietary models like Intelligent Power Dispatch, enhancing their capabilities in predicting market conditions and optimizing project revenue.
Company Profile and Achievements
Agilitas Energy operates as a fully integrated developer, builder, owner, and operator of renewable energy projects. The company's business model encompasses a comprehensive project lifecycle from origination, engineering, procurement, construction, to asset management. Significant achievements include:
- Debt and Equity Financing: Agilitas secured $350 million through investments managed by CarVal Investors to support their national expansion, aiming to develop over one gigawatt of energy projects.
- Strategic Partnerships and Acquisitions: The acquisition of energy storage projects in Texas and partnering with Oak Square Partners exemplify Agilitas Energy's strategic efforts in expanding its national presence.
- Innovative Solutions: The development and implementation of their Intelligent Power Dispatch model, optimizing energy storage revenue, showcases their commitment to technological advancement.
- Market Penetration: Successful entry into the CAISO market marks a significant expansion, aligning with their strategy to operate across major U.S. power markets.
Current Operations and Market Position
Agilitas Energy continues to enhance its market presence by focusing on distributed solar and energy storage projects. Their operations support energy transition goals, addressing both utility-scale and distributed energy needs. The company’s competitive advantages include its proprietary technology, strategic locations, and a robust project pipeline. Agilitas is currently focusing on expanding its renewable energy projects in key U.S. regions, leveraging strategic partnerships and extensive market expertise.
Agilitas Energy Careers
Agilitas Energy offers various career opportunities in the renewable energy sector, attracting talent for roles in engineering, project management, and corporate development. The company emphasizes a culture of collaboration and innovation, essential for driving its growth and maintaining a leadership position in energy solutions.
Conclusion
Agilitas Energy stands as a pivotal player in the renewable energy transition within the United States. Through strategic growth, innovative technologies, and robust financial backing, the company is well-positioned to continue expanding its influence in the solar and energy storage sectors. With ongoing projects and strategic market entries, Agilitas Energy is set to play a significant role in the future of sustainable energy infrastructure.