Antin Infrastructure Partners Gambles on PearlX
Posted on 02/20/2023
Antin Infrastructure Partners invested in a majority stake in Charlottesville, Virginia- based PearlX Infrastructure LLC, an owner and operator of fully integrated smart grid infrastructure systems. PearlX was founded by Michael Huerta and Peter (Pete) Mendonez in 2019. The company seeks to provide a solution combining rooftop solar panels, communal battery storage, and community electrification. As the first U.S. investment of Antin’s NextGen platform, PearlX joins a unique portfolio that includes SNRG, a U.K.-focused smart grid platform, and two European electric vehicle charging platforms, Power Dot and RAW Charging.
Before co-foundering PearlX, Mendonez was Director, Energy Storage Product & Analytics at Viridity Energy, Inc. Viridity Energy was sold to Geothermal and renewable energy company Ormat Technologies Inc. for US$ 35 million in 2017.
