Palladium Energy
A Lisle, Ill-based provider of customized power solutions.
| Date | Investors | Amount | Round |
|---|---|---|---|
N/A | Acquisition | ||
| Total Funding | 000k | ||
In 2019, three veterans of the power generation industry, Nobel Chang, Mark Mirabito, and Danny Weidlich, decided to team up. With decades of collective experience in developing and financing energy projects across various technologies like solar, wind, and gas, they saw a massive opportunity in the renewables space. They founded Palladium Energy in Jacksonville, Florida, to focus on originating, developing, and financing utility-scale solar and energy storage projects across the United States. The company started by developing three projects in North Carolina with power purchase agreements secured with Duke Energy. The founders leveraged their deep industry experience to build a portfolio of high-quality solar and storage projects. Their business model centers on creating value through efficient execution and forging transparent partnerships with landowners to bring renewable energy facilities to life. A pivotal moment for Palladium arrived in October 2023. The company announced it had closed a $10 million corporate equity investment from Ultra Capital, a private investment firm focused on the energy transition. This injection of capital was earmarked to accelerate the growth of Palladium's team and its development pipeline. The deal also validated the team's strategy and the quality of the asset base they had built, positioning Palladium for its next phase of growth in the complex, but rapidly expanding, renewable power industry.