PARIS, FRANCE: Antin Infrastructure Partners has invested in a majority stake in PearlX, an owner and operator of fully integrated smart grid infrastructure systems.
PearlX provides an innovative solution that decarbonizes existing multi-family rental properties and provides residents with cheaper, cleaner, and more reliable energy.
PearlX, founded by Michael Huerta and Peter Mendonez in 2019, is the first mover of scale of smart grid infrastructure in the US multi-family residential housing segment. Through a proven state-of-the-art solution combining rooftop solar panels, communal battery storage and community electrification, PearlX works with landlords to optimize their “energy estate”.
This provides renters with backup power and bill savings, and landlords with new income streams, community amenities and improved ESG performance.
The investment will be deployed to scale up the team and platform, execute on a robust pipeline of solar and storage systems, and continue to expand electrification offerings to underserved multi-family rental communities in California, Texas, and across the US.
As the first US investment of Antin’s NextGen platform, PearlX joins a unique portfolio that includes SNRG, a UK-focused smart grid platform, and two European electric vehicle charging platforms, Power Dot and RAW Charging.
Michael Huerta, PearlX co-founder and CEO stated: “Antin’s investment in PearlX along with our management team’s experience in renewable energy and community solar provides a world-class foundation for our shared vision of smart grid infrastructure platforms. We are excited to partner with Antin to scale our solution and deliver cleaner, resilient, and more accessible energy solutions to additional middle-to-lower income rental communities.”
Nathalie Kosciusko-Morizet and Rakesh Shankar, NextGen Partners at Antin commented: “PearlX fully aligns with NextGen’s mission of identifying and building tomorrow’s sustainable and connected infrastructure landscape. We look forward to working with the exceptional PearlX team to further these important goals.”