Flatiron Energy announced it has closed on $250 million of additional capital to scale its utility-scale battery storage platform. The raise reflects an upsizing of its 2024 corporate credit facility with HPS Investment Partners from $125 million to $250 million and a larger equity commitment from existing sponsor Hull Street Energy, strengthening its balance sheet and growth runway.
Flatiron said proceeds will fund development and construction across its approximately 4.5 GW/18 GWh pipeline of battery storage projects.
This financing complements Flatiron’s September 2025 project-level close of roughly $540 million for the 200 MW/800 MWh Taft Project in Massachusetts.
Flatiron's growth strategy emphasizes first-mover advantage in key ISO and RTO markets such as ISO-New England (ISO-NE) and New York ISO (NYISO), regions characterized by aging fossil generation and increasing renewable integration. The company positions itself to become a premier regional independent power producer (IPP) in the Northeast power market.
Management framed the raise as timely given rising grid flexibility needs and growing storage opportunities in ISO-NE, NYISO, and PJM, while the company’s recent multi-year battery supply agreement with SK On further underpins near-term procurement and execution.
Flatiron Energy announced it has closed on $250 million of additional capital to scale its utility-scale battery storage platform. The raise reflects an upsizing of its 2024 corporate credit facility with HPS Investment Partners from $125 million to $250 million and a larger equity commitment from existing sponsor Hull Street Energy, strengthening its balance sheet and growth runway.
Flatiron said proceeds will fund development and construction across its approximately 4.5 GW/18 GWh pipeline of battery storage projects.
This financing complements Flatiron’s September 2025 project-level close of roughly $540 million for the 200 MW/800 MWh Taft Project in Massachusetts.
Flatiron's growth strategy emphasizes first-mover advantage in key ISO and RTO markets such as ISO-New England (ISO-NE) and New York ISO (NYISO), regions characterized by aging fossil generation and increasing renewable integration. The company positions itself to become a premier regional independent power producer (IPP) in the Northeast power market.
Management framed the raise as timely given rising grid flexibility needs and growing storage opportunities in ISO-NE, NYISO, and PJM, while the company’s recent multi-year battery supply agreement with SK On further underpins near-term procurement and execution.
Flatiron Energy announced it has closed on $250 million of additional capital to scale its utility-scale battery storage platform. The raise reflects an upsizing of its 2024 corporate credit facility with HPS Investment Partners from $125 million to $250 million and a larger equity commitment from existing sponsor Hull Street Energy, strengthening its balance sheet and growth runway.
Flatiron said proceeds will fund development and construction across its approximately 4.5 GW/18 GWh pipeline of battery storage projects.
This financing complements Flatiron’s September 2025 project-level close of roughly $540 million for the 200 MW/800 MWh Taft Project in Massachusetts.
Flatiron's growth strategy emphasizes first-mover advantage in key ISO and RTO markets such as ISO-New England (ISO-NE) and New York ISO (NYISO), regions characterized by aging fossil generation and increasing renewable integration. The company positions itself to become a premier regional independent power producer (IPP) in the Northeast power market.
Management framed the raise as timely given rising grid flexibility needs and growing storage opportunities in ISO-NE, NYISO, and PJM, while the company’s recent multi-year battery supply agreement with SK On further underpins near-term procurement and execution.
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