Closing of Company Financing
CALGARY, Alberta, Feb. 02, 2021 (GLOBE NEWSWIRE) — SWITCH Energy (“SWITCH”) is happy to announce that in 2020, it efficiently closed on a complete of $5 million in company financing. The funds shall be used as working capital offering runway and development till SWITCH’s first portfolio of initiatives come on-line in late 2021. Additional, the capital helps venture improvement to advance SWITCH’s pipeline, and gives acquisition capital to be allotted to a number of early- to mid-stage acquisitions of improvement initiatives. The funding spherical was accomplished via a collection of closings with traders, together with insider participation, funding from non-public fairness agency PFM Capital Inc. (“PFM”) via their SasksWorks Enterprise Fund, and different accredited traders.
“We recognize the boldness traders have positioned in SWITCH. This capital is integral to our development and positions us effectively to proceed to scale our pipeline and execute on our first portfolio of initiatives. Alongside our partnership with Crown Capital for venture financing, we’re effectively capitalized to proceed to advance our imaginative and prescient. As well as, PFM is a strategic investor who brings expertise and relationships within the power sector, one in every of our core goal markets,” stated Trevor White, President and CEO of SWITCH.
“PFM Capital is worked up to companion with SWITCH because it executes on its development technique. We imagine SWITCH is effectively positioned to develop a various and intensive pipeline of initiatives and capitalize on rising demand for sustainable energy options,” stated Jason Moser, Senior Director of Investments.
Fort Capital Companions acted as monetary advisor, DLA Piper acted as authorized advisor, and Pinnacle Wealth Brokers acted as a placement agent for these financings.
Appointment of Officer
SWITCH is happy to announce the appointment of Alyson Jenkins as Vice President, Finance. Alyson brings over 15-years of expertise in a wide range of accounting, finance, and reporting roles for big public firms. She has held quite a few progressively senior positions at Pembina Pipeline Company, TransAlta Company, Husky Vitality, and Ernst & Younger. Alyson brings nice technical information and analytical abilities, a strong understanding of implementing monetary processes and robust management abilities. Her major accountabilities inside SWITCH will embrace controllership, budgeting and forecasting, treasury, monetary reporting, and administration. Alyson holds a Bachelor of Commerce diploma in Accounting and World Enterprise from Saint Mary’s College, in addition to a Chartered Skilled Accountant (CPA) designation.
“We’re excited to have Alyson be part of our staff. Together with her she brings tangible renewable energy and infrastructure accounting and monetary administration expertise, which is able to undoubtedly be an asset as we transition into the subsequent section of our lifecycle via venture financing, building, and operation,” stated Trevor White.
“The chance to affix the SWITCH staff may be very thrilling for me given its innovation within the sustainable energy technology house. I look ahead to working with all of our companions in including worth to our initiatives,” stated Alyson Jenkins.
Appointment of Director
SWITCH is happy to announce that efficient December 10, 2020, Jason Moser, CFA, CBV, has joined the SWITCH board of administrators.Jason Moser is a Senior Director of Investments and companion of PFM Capital Inc. Mr. Moser joined PFM in 2008 and is liable for managing the agency’s diversified power portfolio. He brings over 14-years of institutional funding expertise throughout the power sector, beforehand engaged on the buying and selling desk for Capital Energy Corp. and as an oil and gasoline fairness analysis affiliate for Raymond James. Mr. Moser at present sits on the boards of Hearth Sky Vitality Inc., Aureus Vitality Providers Ltd., and Wind River Energy Corp.
About SWITCH Energy Company
SWITCH Energy is an Alberta-based sustainable energy developer, asset supervisor and producer, centered on deploying significant megawatts via its electrical energy as a service enterprise mannequin. They supply bespoke energy options for purchasers and counterparties throughout a number of expertise and market lessons. SWITCH develops, builds, funds, and operates sustainable power energy technology initiatives in utility, behind the meter and off-grid situations.
About PFM Capital Inc.
PFM Capital is Saskatchewan’s largest non-public fairness funding agency with over $750 million in belongings below administration throughout a number of funds. Primarily based in Regina, Saskatchewan, PFM’s area of interest focus permits traders to profit from the Prairies’ financial strengths by benefiting from the agency’s established native contact community and long-term monitor document. Based in 1989 as a company finance firm, PFM Capital is employee-owned and has been managing non-public fairness and enterprise capital funds since 1993.
For additional data:
Trevor White, President & CEO
5774 tenth Road NE
Calgary, Alberta T2E 8W7