DENVER, Aug. 20, 2024 — ALLCITY Network, the operator of multi-platform local sports networks, has raised its Series B funding. The round is led by public broadcast company, TEGNA (NYSE: TGNA). Existing investors Mosaic General Partnership and Bullpen Capital also participated in the round. The TEGNA investment brings ALLCITY Network’s total funding beyond $25M and further accelerates the company’s position within the digital sports industry.

In addition to the investment, ALLCITY and TEGNA have entered into a commercial agreement that encompasses cross-promotional opportunities, content licensing, revenue extension opportunities and distribution via TEGNA station’s linear channels and streaming apps in some of America’s most important sports markets. Additionally, talent from ALLCITY and TEGNA’s Locked On Podcast Network will make guest appearances across each other’s shows.

“ALLCITY is at a monumental inflection point where the next 18 to 24 months will not only define who we are as a company but will also define the future of local sports coverage in America,” says CEO Brandon Spano. “We have never had more conviction about our model and our brand than we do right now. For this to also be recognized by such a powerful group of investors only reinforces that vision and increases our commitment to building America’s next major sports network.”

“Nothing brings local communities together like local sports, which is why we are pleased to be doubling down on the category through our investment and partnership with ALLCITY,” said Adam Ostrow, Chief Digital Officer at TEGNA. “Through its multiplatform approach, distinctive editorial voice and diverse offerings, ALLCITY has demonstrated an ability to form deep connections with local sports fans and advertisers, making them an ideal partner to further expand TEGNA’s robust sports offerings across TV and digital.”

ALLCITY intends to use the proceeds for continued market expansion, investment into streaming, FAST operations and the hiring of key management positions.

ABOUT ALLCITY NETWORK
ALLCITY Network is reimagining local sports coverage, delivering daily, team-specific shows available across streaming video, podcast, and other digital platforms. Launched in 2019 in Denver, ALLCITY has since expanded to Phoenix, Chicago, and Philadelphia and its portfolio now includes 30+ daily shows across the country. In addition to media products, ALLCITY Network reaches fans with original custom apparel lines and community-driven events, such as tailgates and watch parties. For more information about ALLCITY Network, visit www.allcitynetwork.com.

SOURCE ALLCITY Network

Investment positions Kami for accelerated growth

BOSTON, Aug. 20, 2024 — Kami, a leading classroom engagement and teacher productivity content provider to the US and global K12 market, with over 40 million teachers & students on the platform across over 2,000 US districts and 180 countries around the world, today announced a significant strategic investment from BV Investment Partners (“BV”). The investment values Kami at more than $175M USD.

The strategic growth investment from BV will accelerate Kami’s existing ambitions and help the platform reach every classroom in the world, deepening its US centric focus and expanding globally, signaling a new chapter and phase for Kami.

BV Investment Partners is a private equity firm focused on software, tech-enabled business services, and IT services sectors. BV brings strategic expertise, industry knowledge and valuable networks to the table, and has supported the growth of many other edtech and founder-led businesses. BV’s expertise will also broaden Kami’s scope to increase the breadth of the Company’s impact and value to customers, supporting the Company’s vision of becoming a leading classroom engagement software addressing key industry pain points and empowering teachers and students to transform the learning environment in the tech enabled K12 classroom.

Kami will continue to operate from Auckland, New Zealand and open a Boston office, with all four founders remaining in the business.

“We’ve always been ambitious at Kami, which is why we have over 40 million teachers and students signed up, and now is the time to own the global edtech space, deepening and expanding our presence from our US focus today. BV is the right strategic partner to achieve our goals and continue our mission to scale to the next level,” said Hengjie Wang, co-founder and CEO of Kami.

“At its core, Kami is a founder-led business that has yielded growth by solving real problems faced by teachers and their students. While accelerating our growth with the support of BV, we remain committed to our core mission and values. Our global team including the founders, our operations and day-to-day business functions will continue unchanged.”

Jason Kustka, Managing Director of BV, commented, “We have invested in and helped to scale a number of exciting education-focused businesses that deliver affordable and effective solutions that accelerate learning. Kami provides students and teachers with the tools they need to enhance modern learning and create more equitable quality education. Kami’s mission, rooted in transforming the learning environment in the tech-enabled K12 classroom creates a unique position to strengthen its already dominant position as a leading classroom engagement solution of choice. We look forward to partnering with the talented Kami team to advance their mission.”

BV’s investment also equips Kami with a US-based global growth partner. BV’s tailored expertise will help Kami accelerate its US success and replicate that on a global scale.

About Kami
Kami was developed in Aotearoa, New Zealand by four university friends who wanted to make a difference. Eleven years later, the platform has grown into a team of over 100 Kamileons with a shared goal of fostering a positive learning journey for everyone. Kami’s global community of 40+ million users loves Kami because it simplifies workflows, increases student engagement, reduces printing costs, and saves trees too! Kami levels the playing field so that all students – no matter their age, grade, or ability – can love learning. See more about Kami here.

About BV Investment Partners
BV Investment Partners is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested approximately $5.5 billion, actively targeting investments in the tech-enabled business services, software, and IT services industries. The firm is investing out of its 11th private equity fund, which closed in September 2023 with $1.75 billion in capital commitments. BV was ranked in Inc. magazine’s 2023 list of Founder-Friendly Investors. For more information, visit www.bvlp.com.

Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334

SOURCE BV Investment Partners

NEW YORK, Aug. 20, 2024 — Trunk Tools, a groundbreaking AI platform disrupting the $13 trillion construction industry, announces a $20 million Series A. The new capital was led by Redpoint Ventures with participation from Innovation Endeavors, who led the Seed round, bringing the total capital raised to-date to $30M.

Trunk Tools leverages the latest in AI technology to build the “brain” behind construction. By structuring millions of pieces of unstructured project data and deploying AI agents that augment construction professionals in their administrative workflows, Trunk Tools ensures critical information is available to the right people at the right time, automating the tedious and repetitive tasks that have historically weighed on industry productivity and profitability. With Trunk Tools, construction professionals not only save time but avoid construction delays and rework that can cost tens of millions – or more – per project.

“We are thrilled to have the support of Redpoint Ventures and our other valued investment partners, as we push the boundaries of innovation in the construction industry,” said Dr. Sarah Buchner, Founder and CEO of Trunk Tools. “Redpoint’s expertise in investing and scaling AI companies is a perfect match and this funding will enable us to accelerate our growth, develop new products, and cement our place as industry leaders in generative AI for construction. What is another vote of confidence is how many of our current and prospective customers have invested: WND Ventures (DPR’s CVC), Suffolk Technology, AEC Angels, STO Building Group, Liberty Mutual Strategic Ventures, Thornton Tomasetti/ TTWiiN, Charps, and many more.”

Redpoint’s Erica Brescia, also the newest member of Trunk Tools board, added, “Growing up in the construction industry, I have a deep appreciation for the complexities of commercial projects. We have zero doubt of AI’s potential to revolutionize construction management. This is a truly massive market opportunity, and we’ve been searching for a team that combines the empathy that only comes with deep industry experience with the AI expertise to execute this audacious vision. We’re thrilled to partner with Sarah and the team at Trunk Tools, who possess the ideal mix of passion, experience, and AI expertise to bring the power of AI to construction.”

With today’s announcement, Trunk Tools is also introducing the first fully autonomous AI-powered agent tailored to the construction industry: the Trunk Tools Schedule Agent. Harnessing Trunk Tools’ underlying data infrastructure, the Schedule Agent offers an unprecedented solution in the construction industry: a dynamic link between scheduled activities and all essential supporting documentation to build on time, on budget and according to plan. This advanced agent builds upon Trunk Tools’ existing proprietary AI platform, which is already used by many of the largest general contractors and several Fortune 500 companies, to help construction teams stay on schedule by becoming more proactive on the jobsite without any additional effort by sensing project issues, surfacing insights and taking action.

The Schedule Agent integrates seamlessly with schedule files, independently monitoring upcoming tasks to provide timely notifications to notify project managers, superintendents, and project engineers about open tasks, discrepancies or logistical problems.

By helping construction professionals proactively monitor project schedules, manage critical documentation, and automatically alert impacted parties, Trunk Tools fulfills its mission of “empowering construction; let builders build”.

Early users of the Trunk Tools platform are raving about the productivity gains realized in the field. Andy Roy, a Gilbane Building Company senior superintendent who has leveraged Trunk Tools since 2023 on a large, complex construction project states: “Trunk Tools showed that it can help our teams increase efficiency and save significant time by preventing rework. With TrunkText doing the ‘document digging’ for me, I can work more effectively and be more responsive in the field.”

“We like to say we are not in AI but in IA – intelligence augmentation: augmenting the tedious, manual, painful parts of worker’s jobs, so builders can focus on building,” continued Dr. Buchner. “This is just the beginning of what our AI platform and its army of AI agents can achieve. This industry has long been ripe for disruption, but the market has needed the underlying technology to actually get to a point where it can leverage unstructured data effectively. Generative AI is the answer to construction’s long standing incapability to adopt and leverage technology and we are proud to be the leading provider in our industry.”

About Trunk Tools

Trunk Tools built the brain behind construction and is transforming the $13 trillion construction industry. As the preeminent AI agent platform for the built environment, Trunk Tools deploys solutions that streamline construction data management, automate tedious and repetitive work, and reduce waste. Trunk Tools was founded by Dr. Sarah Buchner in 2021 and is headquartered in New York, NY.

About Redpoint Ventures

Redpoint has partnered with visionary founders to create new markets and redefine existing ones since 1999. We invest in startups across the seed, early and growth phases, and we’re proud to have backed over 578 companies—including Snowflake, Looker, Kustomer, Twilio, 2U, DraftKings, Duo Security, HashiCorp, Stripe, Guild, HomeAway, Heroku, Netflix, and Sonos—with 181 IPOs and M+A exits. Redpoint manages $7.2 billion across multiple funds. For more information visit: http://www.redpoint.com/

For more information, please visit www.trunktools.com.

Media contact: Reilly Payne | [email protected]

SOURCE Trunk Tools

The capital will fuel the development of high-protein, low-calorie foods.

NEW YORK, Aug. 20, 2024 — David, a platform that designs tools to increase muscle and decrease fat, today announced a $10 million seed funding round. The investment was led by David CEO and Co-Founder Peter Rahal, with additional participation from Valor Siren Ventures, Peter Attia, M.D., and Andrew Huberman, Ph.D.

David Co-Founders Peter Rahal, founder of protein snacks brand RXBAR, and Zach Ranen, former investor and founder of RAIZE, bring extensive experience to their latest venture. Rahal has been obsessed with protein bars from a young age and has dedicated his career to creating the perfect protein bar. Ranen worked with the RAIZE team to develop and scale its low-carb dessert product suite.

The pair will use this fundraising round to continue developing science-based, delicious food and to build its team of industry-leading strategists, scientists, and health experts. Its first product is a protein bar that will have the most protein per calorie of any currently available protein bar. The bars will be sugar-free, gluten-free, and artificial sweetener/flavor-free.

“Michelangelo’s sculpture of David reflects our methodical approach to idealism and dedication to materializing perfection,” says Peter Rahal, CEO and Co-Founder of David. “This funding will allow us to continue developing high-quality, research-backed products that meet the nutritional needs of consumers.”

“David is poised to make a significant impact in the industry,” adds Jon Shulkin, co-President of Valor Equity Partners and Fund Manager for Valor Siren Ventures. “David’s commitment to excellence and clear understanding of the modern consumer’s needs set them apart.”

David’s Chief Science Officer Peter Attia, MD, known for his work in longevity medicine, adds, “My involvement with David stems from a shared commitment to science-driven nutrition that prioritizes muscle growth and effective fat management. Protein is essential for longevity, and our products are designed with that in mind. With Peter Rahal’s proven leadership and the strategic backing of our investors, I believe we are set to lead the industry in creating meaningful change.”

About David
David is a platform that designs tools to increase muscle and decrease fat. The brand’s first product, a protein bar, offers the most protein per calorie of any bar on the market. With a commitment to rigorously perfected protein, David’s evidence-based approach delivers unparalleled excellence. To be the first to receive updates, visit www.davidprotein.com

SOURCE David

RENO, Nev., Aug. 20, 2024 — Dermody Properties—a diversified private equity investment management company focused exclusively on the national logistics real estate sector—announces the successful closure of its fourth commingled fund, Dermody Properties Industrial Fund IV, L.P. (DPIF IV), securing $1.043 billion in capital commitments.

This figure closely mirrors the $1.065 billion raised for its predecessor, DPIF III. Demonstrating strong investor confidence, every existing investor from DPIF III recommitted to DPIF IV, along with two returning investors from DPIF II and four new investors. The investor base for DPIF IV includes a diverse group of prominent public and corporate pension funds, insurance companies and other institutional investors from the United States, Canada and Europe.

“Dermody Properties is dedicated to fostering long-term partnerships by delivering innovative logistics real estate solutions and exceptional customer service,” said Douglas A. Kiersey, Jr., CEO and President at Dermody Properties. “By acquiring and developing logistics facilities where our customers need us most, we are poised for continued growth and success.”

DPIF IV will continue to expand Dermody Properties’ legacy of acquiring, developing and operating state-of-the-art logistics facilities in infill locations across the U.S. The fund will focus on value-add single-asset and portfolio investments, along with strategic new development projects. Leveraging the team’s deep expertise and long-standing industry reputation, DPIF IV is poised to capitalize on the investment opportunities within Dermody Properties’ target regions.

“We are pleased with the overwhelming success of DPIF IV, the continued support of our valued investors from DPIF I, II and III, and the addition of new investors in the U.S. and Europe,” said Kathleen S. Briscoe, Partner and Chief Capital Officer at Dermody Properties. “Dermody Properties’ proven track record in logistics real estate, coupled with our world-class team, positions us to deliver exceptional returns to our global investor base.”

“Our strategic focus on national logistics real estate has yielded best-in-class, diversified portfolios since 2015,” said Michael C. Dermody, Executive Chairman of Dermody Properties. “We are all honored by our investors’ continued confidence and look forward to the many years ahead together.”

For more than 60 years, Dermody Properties has maintained a national portfolio in major markets with strong underlying fundamentals, including favorable supply-demand dynamics, high barriers to entry, above-average rent growth, institutional demand and liquidity. The company has served hundreds of international, national and regional clients.

Shelter Rock acted as a placement agent for DPIF IV, and the legal advisor for Dermody Properties was Kirkland & Ellis.

Photo Cutline: The acquisition of the fully leased Lacey I-5 Logistics Center represents a significant investment by Dermody Properties within the Pacific Northwest. The acquisition was a part of DPIF IV.

About Dermody Properties
Dermody Properties is a privately-owned real estate investment, development and management firm that specializes in the acquisition and development of logistics real estate in strategic locations for e-commerce fulfillment centers, third-party logistics and distribution customers. Founded in 1960, Dermody Properties has invested more than $10 billion of total capital across all platforms nationwide, having acquired and developed approximately 110 million square feet of logistics and industrial facilities. In addition to its corporate office in Reno, Nev., it has regional offices in northern and southern California, Atlanta, Phoenix, Seattle, Chicago, Dallas, Indianapolis and New Jersey. For more information, visit Dermody.com.

CONTACT: Nicole Shearer, KPS3, [email protected], 530-448-6485

SOURCE Dermody Properties

Program includes research collaboration with Metro State University

DALLAS, Aug. 20, 2024 — GetChkd Inc. announces it has been selected by AFWERX for a STTR Phase II in the amount of $1.7MM focused on Blockchain Infrastructure to address the most pressing challenges in the Department of the Air Force (DAF). The Air Force Research Laboratory and AFWERX have partnered to streamline the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) process by accelerating the small business experience through faster proposal to award timelines, changing the pool of potential applicants by expanding opportunities to small business and eliminating bureaucratic overhead by continually implementing process improvement changes in contract execution. The DAF began offering the Open Topic SBIR/STTR program in 2018 which expanded the range of innovations the DAF funded and on August 16, 2024, GetChkd Inc. started its journey to create and provide innovative capabilities that will strengthen the national defense of the United States of America.

“The opportunity to extend the use of our Blockchain Infrastructure Platform, while also accelerating commercialization in the private sector, is a significant milestone for GetChkd,” said Michael Caplovitz, Founder and CEO of GetChkd. “We are honored to collaborate with AFWERX and researchers at Metro State University to advance this technology.”

“The views expressed are those of the author and do not necessarily reflect the official policy or position of the Department of the Air Force, the Department of Defense, or the U.S. government.”

About GetChkd Inc.
GetChkd’s state-of-the-art blockchain infrastructure platform revolutionizes system connectivity, enforces user-specific mappings, and ensures immutable audit trails for every action. This guarantees unparalleled security, accountability, and reliability for a connected system of systems across various domains and classifications. GetChkd: The Foundation of Trust in a Connected World.

About Metro State University
Metro State University in conjunction with MN Cyber (Minnesota) is specialized in IoT security, foreign adversary censorship, and network security. Metro State is recognized as an NSA Designated Center for Excellence in Cyber Defense (NCAE-CD).

About AFRL
The Air Force Research Laboratory is the primary scientific research and development center for the Department of the Air Force. AFRL plays an integral role in leading the discovery, development, and integration of affordable warfighting technologies for our air, space and cyberspace force. With a workforce of more than 12,500 across nine technology areas and 40 other operations across the globe, AFRL provides a diverse portfolio of science and technology ranging from fundamental to advanced research and technology development. For more information, visit afresearchlab.com.

About AFWERX
As the innovation arm of the DAF and a directorate within the Air Force Research Laboratory, AFWERX brings cutting-edge American ingenuity from small businesses and start-ups to address the most pressing challenges of the DAF. AFWERX employs approximately 370 military, civilian and contractor personnel at five hubs and sites executing an annual $1.4 billion budget. Since 2019, AFWERX has executed over 6,100 new contracts worth more than $4 billion to strengthen the U.S. defense industrial base and drive faster technology transition to operational capability. For more information, visit: www.afwerx.com. 

Company Press Contact:
Michael Caplovitz
Founder and CEO, GetChkd Inc.
[email protected]
833-405-3335

SOURCE GetChkd Inc.

Oversubscribed Financing Paves Path to NDA Submission and Pre-commercialization Efforts for upacicalcet

RESEARCH TRIANGLE PARK, N.C., Aug. 20, 2024 — Pathalys Pharma, Inc., a private biopharmaceutical company in the late stages of developing treatments for kidney disease, has successfully closed a $105 million Series B financing round.

The oversubscribed financing was led by TCGX and joined by other notable investors including, JP Morgan Life Sciences Private Capital, Samsara BioCapital, Marshall Wace, KB Investment, JPS Growth Investment Limited Partnership, and included support from Pathalys’ founding investors, Catalys Pacific and DaVita Venture Group.  

“Since our inception, Pathalys has made significant strides toward our goal of delivering a best-in-class treatment for those with end-stage kidney disease (ESKD), including the near completion of two phase 3 clinical trials for upacicalcet,” said Neal Fowler, Chief Executive Officer at Pathalys Pharma, Inc. “We believe the continued expansion of our syndicate of prominent life science investors, with representative board members, is indicative of the fact that we are on the right path at Pathalys.  We are immensely grateful for the continued support of our investors and remain steadfast and confident in our mission to bring upacicalcet forward to patients.”

“I am thrilled to support the Pathalys Pharma team in bringing upacicalcet to dialysis patients with ESKD who need improved calcimimetic treatment options,” stated Chen Yu, M.D., Founder and Managing Partner of TCGX. “With both upacicalcet trials on track for early completion, we are hopeful that these efforts will support a near-term NDA filing with the FDA. I am excited to be a part of this journey as a member of the Pathalys board.”

The funds raised via this financing will be utilized to finalize the two ongoing upacicalcet clinical trials, execution of the NDA filing process with the U.S. Food and Drug Administration (FDA), and acceleration of preapproval commercialization preparations.  Joining the Board of Directors as members will be Dr. Chen Yu and Mr. Joe Siletto, Managing Partner of JP Morgan Life Sciences Private Capital.  Additionally, Dr. Roger Zhang, Ph.D. of Samsara BioCapital will join the Board as an observer. 

“We are excited to have Chen and Joe join our Board and support Pathalys’ efforts to develop innovative medicines aimed to improve the lives of patients with kidney disease. We are confident that their extensive financial markets experience and leadership will further complement our current Board,” commented BT Slingsby, M.D., Ph.D., M.P.H., Co-founder, and Executive Chairperson of Pathalys and Founder of Catalys Pacific.

ABOUT PATHALYS PHARMA
Pathalys Pharma, Inc. is a private, late-stage clinical biopharmaceutical company committed to the development of multiple advanced therapeutics that address unmet needs in the management of ESKD. Pathalys’ initial asset is upacicalcet, a novel calcimimetic with the potential to improve the treatment of SHPT in hemodialysis patients. Beyond upacicalcet, Pathalys continues to identify other high priority needs and potential solutions for patients with ESKD. Pathalys was co-founded by Catalys Pacific and DaVita Venture Group and is headquartered in Research Triangle Park, North Carolina.

For more information about Pathalys, please visit pathalys.com.

ABOUT TCGX

TCGX is a healthcare investment firm dedicated to advancing disruptive medicines and supporting companies that can improve the lives of patients. TCGX invests in both private and public companies led by exceptional entrepreneurs focused on developing better treatment options for patients. TCGX has investment teams in Palo Alto and New York City.

For more information, please visit www.tcgcrossover.com

SOURCE Pathalys Pharma

to deploy next-generation power plants to the grid edge

WASHINGTON, Aug. 20, 2024 — Today, Distributed Sun (DSUN) announces $37.5 million of new working capital to spin-out and ramp operations of its New Energy Investment Company (NEIC), truCurrent. Standing atop 15 years of best practice leadership, business model innovation and proven, consistent asset yield performance, truCurrent offers Fortune 1000 companies – large fleet and facility operators – the know-how to make and execute better energy choices, mitigate operating and financial risks, and realize best-value, bottom-line rewards from smart energy transitions.

“We build better roadmaps so our partners can navigate smarter roadtrips to their intended energy destinations. The results are carbon and cost savings, energy choice and load flexibility for our customers,” says Chase Weir, CEO of DSUN and truCurrent. “We design enterprise-wide when deploying new energy asset infrastructure. Our solutions create, and extract, superior value by delivering the right combination of on- and off-site distributed energy resources to optimize carbon usage, cost and competitive advantages for our clients.” truCurrent balances the goals and needs of customers’ core functions including fleet and facility operations, finance and treasury, real-estate and construction, corporate leadership, sustainability, governance, and transformation – as well as those of their shareholders.

truCurrent designs roadmaps that simplify decision-making and drive the implementation of on-time and on-budget deployments to active operating sites. At the heart of the roadmaps is a deep understanding of the ways in which new energy asset technologies pose different integration and operational risks, and have different use-cases, useful lives, performance profiles, operating requirements and more. To facilitate cost-effective and tax-efficient capital expenditures truCurrent manages the complex patchwork of state, local and federal frameworks across the U.S.

Utilities stand to make significant gains alongside their largest customers as truCurrent smart microgrid and virtual power controls are deployed with new generation storage and load assets to the distribution grid edge. “We engage with utilities early in the process to provide visibility into the needs of their largest customers. We show how our investments help accelerate shared goals – reducing carbon intensity for the customer and the grid, increasing revenues while optimizing energy costs, providing grid services, and investing in the resiliency of their grids, all while allocating capital more efficiently,” says Jeff Weiss, Executive Chairman of DSUN and truCurrent.

In Q4, truCurrent will announce new strategic capital and F1000 partnerships, and its new executive leadership team members. In recent weeks, the company has onboarded chief commercial and transformation officers, a chief of staff, and finance, policy, development, delivery, engineering and product development veterans, with a chief financial officer and more joining later in 2024. Incubated since 2022, and officially launched in 2024, the business operates as a separate entity – with independent treasury, capital accounts, intellectual property, service offerings, governance and staff.

About truCurrent
For more information about the company’s initiatives, services, and career opportunities, please visit www.trucurrent.com.
About Distributed Sun
For more information about the company’s initiatives, services, and career opportunities, please visit distributedsun.com.

For more information:
[email protected]

SOURCE Distributed Sun

BOSTON and HOUSTON, Aug. 20, 2024 — Swift Current Energy (“Swift Current”) announced today that it has closed on a tax equity investment from Google for its landmark 800 MWdc (593 MWac) Double Black Diamond Solar project (“the Project”) in southern Illinois.

Once operational, Double Black Diamond Solar is expected to be the largest solar project east of the Mississippi River. The tax equity financing utilizes Energy Communities and domestic content adders, provided in the Inflation Reduction Act. Located 30 miles west of Springfield, Illinois, the Project is currently under construction and is expected to reach commercial operations by early 2025.

Swift Current previously announced that Mitsubishi UFJ Financial Group (MUFG), Societe Generale, Truist and ING provided construction financing for the Project. Swift Current is the project developer and will be the long-term owner and operator.

Eric Lammers, CEO and Co-Founder of Swift Current, said, “Projects of Double Black Diamond Solar’s magnitude require innovative partnerships. We are delighted to join forces with Google on a ground-breaking structure that will support Double Black Diamond Solar and serve as a guide for other major projects to come.”

Amanda Peterson Corio, Global Head of Data Center Energy at Google, said, “As we work to responsibly grow our infrastructure, we need to partner with companies like Swift Current who understand the nuances of the energy markets where we operate and can help unlock new clean energy at a rate that matches the pace and scale of demand growth on electric grids today.”

At peak construction, the Project employed approximately 500 construction workers. Swift Current selected McCarthy Building Companies, Inc. as the engineering, procurement, and construction (EPC) partner. The Project utilizes First Solar modules, a majority of which are being manufactured in the US, as well as solar trackers from U.S.-based Nextracker.

During its operational life, Double Black Diamond Solar will contribute to communities in Sangamon and Morgan counties. The Project, capable of powering 100,000 homes annually, is expected to reduce regional carbon dioxide emissions by approximately one million tons per year.

Sangamon County Board Chairman Andy Van Meter said, “We are proud to be home to one of the largest clean energy projects in the nation. The Double Black Diamond Solar project brings significant economic benefits to our community, contributing $100 million in tax revenue and supporting hundreds of jobs. This project is a win for both our community and the environment.”

Constellation NewEnergy, Inc. will purchase a portion of the energy and RECs generated by Double Black Diamond Solar to serve the seven customers that have been announced. The City of Chicago will source renewable energy produced by the Project to power several energy-intensive facilities, including Chicago O’Hare International Airport and Midway International Airport. Additionally, Cook County Illinois, CVS Health, Loyola University of Chicago, PPG, State Farm, and TransUnion have agreements to purchase power from the Project via Constellation.

Vinson & Elkins LLP and Husch Blackwell LLP represented Swift Current in the transaction. Milbank LLP and Bryan Cave Leighton Paisner LLP represented Google.

About Swift Current Energy

Swift Current Energy is trailblazing a path for clean energy now. Founded in 2016, the company develops, owns and operates highly competitive, utility-scale wind, solar and energy storage projects across the United States. Swift Current Energy is majority-owned by Buckeye Energy Holdings, with the other owners being IFM Net Zero Infrastructure Fund and Lookout Ridge Energy Partners. For more information, please visit swiftcurrentenergy.com.

SOURCE Swift Current Energy