Jupiter Power

Today, Jupiter Power is proud to announce the successful close of a $225 million corporate credit facility. The transaction strengthens Jupiter’s ability to advance its expanding U.S. portfolio, which includes one of the nation’s largest energy storage development pipelines, totaling over 12,000 MW. The $225 million in total revolving credit facilities includes up to $175 million in letters of credit and $50 million in revolving loans.?Barclays Bank PLC, HSBC Bank USA, and Sumitomo Mitsui Banking Corporation led the transaction on the lender side, serving as Coordinating Lead Arrangers. "Securing this corporate credit facility highlights the market's recognition of Jupiter Power as a leader in advancing large-scale energy storage solutions, as evidenced by our 2,575 MWh of battery energy storage systems already in operation or construction," said Jesse Campbell, Chief Financial Officer of Jupiter Power. “This funding enhances our ability to advance projects across our pipeline in markets where energy storage is needed most.?We greatly appreciate the support of our banking partners in this transaction.” Read the full release here: https://lnkd.in/gUmbJ9Ei #EnergyStorage #BatteryStorage #EnergyTransition

Jupiter Power CEO & Founder Andy Bowman took the stage at Aurora Energy Research's 2024 Energy Transition Forum in New York City this week. During the ‘Unlocking the Potential of Battery Storage’ panel, Andy shared insights on the evolving role of energy storage and its future potential in markets outside of #ERCOT and #CAISO. The panelists also discussed: ? Growth drivers of storage in the energy transition ? Battery supply challenges, and new opportunities under the #IRA ? Role of storage in addressing dramatic load increases from AI/data centers #energystorage #energytransition #storagesolutions

?Jupiter Power is growing rapidly!?We're looking for passionate people who thrive in a dynamic, collaborative environment to fill the roles below by the end of 2024. Join a diverse team of more than 100 professionals that brings cutting-edge energy projects to life while fostering personal and professional growth! ???Senior Manager, Market Analytics (Hybrid - Austin or Houston) ???Real-Time Trader (In office - Houston) ???Senior Accountant, Financial Reporting (Hybrid - Austin or Chicago) ???Project Accountant FLSA (Hybrid - Austin or Chicago) ???Associate, FP&A (Hybrid - Chicago) ???Finance Counsel (Hybrid - Austin, Chicago, or Houston) ???Procurement Analyst (Hybrid - Austin, Chicago, or Houston) ???Assistant Project Manager, Construction (Hybrid - Austin) ???Project Manager, Construction (Hybrid - Austin) ???Credit & Settlement Analyst (Hybrid - Houston) ???Contracts Manager (1099 temporary - Austin, Chicago, or Houston) Apply today: https://lnkd.in/gDbtK-s4

Thanks to Energy Institute, The University of Texas at Austin for including Jupiter Power's CEO & Founder, Andy Bowman, in this conversation tomorrow! More details below:

Great panel today with Bill Blevins who is doing critical work at ERCOT, and some of the folks paving the way for future Nuclear Energy technologies Brian Gitt Mark Gake, P.E. John Chaplin Hunter Newby. AI electricity demand will be massive and volatile, Jupiter Power’s grid-scale battery storage projects are highly scalable today and respond instantaneously to power demand and frequency fluctuations. This will be critical in helping grid operators maintain reliability and reduce emissions while integrating new data centers and advanced manufacturing across the U.S. #deployable #scalable #distributed #DataCloudUSA #ERCOT #EnergyStorage

Jupiter Power's CEO & Founder, Andy Bowman, spoke with the New York Times about the evolving energy landscape in Texas and how #BatteryStorage is fitting into the market: "Not far from downtown Houston, by the site of a former gas-fired power plant, large containers filled with small lithium-ion battery cells — half a million cells in total — sit in neat rows. [...] The batteries, owned by Jupiter Power, began operating last month. 'Two or three years ago there were barely any batteries anywhere,' Andy Bowman, the chief executive of Jupiter Power, said. 'That’s capitalism working.'" Read the full article here: https://lnkd.in/gHUSG4ab

ICYMI: Jupiter Power spoke with the Houston Chronicle this week about the company’s latest contribution to the ERCOT grid. The Callisto I project is Houston's first transmission-connected battery energy storage system, coming online ahead of triple-digit heat this week.? “‘The battery is perfect for the city of Houston. It takes very little land use,’ said Caitlin Smith, Jupiter Power vice president of policy and corporate communications. ‘It responds instantaneously, and so it can meet the demand that Houston has when the power is not there.’ Read the full article here >> https://lnkd.in/dZE7jwSM ? #BatteryStorage #Energy #TexasEnergy #ERCOT??

Jupiter Power is excited to announce today the achievement of commercial operations of 400MWh of dispatchable power to the ERCOT grid with a battery energy storage facility in Houston, Texas. Callisto I is the first transmission-connected battery energy storage project in the city of Houston, and will significantly increase Houston’s supply of reliable, zero emissions power. This amount of dispatchable power in the Houston city load center represents the success of market-based improvements by lawmakers to add competitive, dispatchable power to the ERCOT grid. With ERCOT expecting peak demand and tight conditions today, we are proud to be able to provide this amount of instantaneous, firm power. The Callisto I Energy Center is a 200MW/400MWh battery energy storage system located in central Houston, five miles from the Medical Center and ten miles from the Houston Ship Channel at the site of a former HL&P H.O. Clarke fossil fuel power plant. The site can accommodate an additional 400MW/800MWh of battery energy storage generation. Callisto I is Jupiter Power’s ninth project in ERCOT, bringing its total ERCOT fleet to 1,375MWh. In December of 2023, Jupiter Power announced the closing of a$65.2 million financing with First Citizens Bank to finance the construction of Callisto I.? Read the press release and find out more about Jupiter Power below: https://lnkd.in/gCkU3ysf

Proud to have Jupiter Power’s Caitlin Smith representing the #EnergyStorage industry at the Texas Tribune Festival this fall! Thanks to The Texas Tribune for hosting the event & leading the conversation. More details about #TribFest24, Texas’ breakout policy & politics event, here: https://trib.it/sBHbuK

This week, Jupiter Power's own Hans Detweiler joined NECEC's Joe Curtatone on Boston Public Radio (GBH) with hosts Jim Braude and Margery Eagan to discuss the future of utility-scale #BatteryStorage systems, and how they can enhance grid flexibility & reliability. Pending successful permitting, Jupiter's proposed Trimount Energy Storage Facility in nearby Everett, MA, would provide up to 700 MW of critical energy to support the electric grid in the Greater Boston area. #CleanEnergy #GridReliability #EnvironmentalCleanup #Sustainability #EnergyTransition