GOODPEAK BEGINS CONSTRUCTION ON ERCOT BATTERY STORAGE PROJECTS AFTER SECURING CONSTRUCTION DEBT FINANCING

Company Overview - GoodPeak is a rapidly growing utility-scale battery energy storage and solar platform focused on developing, building, owning, and operating assets in high-value, capacity-constrained locations with advantaged economics [3][6] - The company is backed by a deep network of industry leaders, including prominent founders, executives, investors, family offices, and advisors in the power and renewables sector [3][6] Recent Developments - GoodPeak announced the closing of construction credit facilities with Pathward®, N.A. and BridgePeak Energy Capital, enabling the commencement of construction of its first two 10-MW (2-hour duration) energy storage projects near Houston, Texas, which are expected to come online at the end of 2025 [1][5] - The company anticipates significant expansion in 2025 and beyond, with plans to diversify its development pipeline to include larger projects, integrated power generation, and data center development opportunities [2] Strategic Appointments - GoodPeak appointed PJ Fielding and Dana Frix to its Board of Directors, bringing deep expertise in infrastructure, renewables, private equity, regulatory strategy, and development to guide the company's expansion efforts [4] Financial Backing - The company secured $22 million in construction debt financing from Pathward and BridgePeak, along with growth equity investment from strategic investor Current Equity Partners [7][8] - Current Equity Partners aims to support the infrastructure build-out of the new digital economy, leveraging decades of combined experience in asset management and private equity [8] Industry Impact - GoodPeak's projects are designed to enhance grid reliability, support renewable energy integration, and strengthen the Texas energy infrastructure, addressing the challenges posed by increasing electricity demand driven by AI and data centers [5][6]