Peregrine Energy Solutions Launches Second Greenfield BESS Development Platform with Commitment from IMM Investment Global

BOULDER, Colo., Feb. 7, 2023 /PRNewswire/ -- Peregrine Energy Solutions LLC ("Peregrine"), a recently established integrated and multi-technology clean energy platform with a focus on utility scale energy storage, today announced it has received a commitment from IMM Investment Global ("IMMG"), one of the leading multi-asset alternative investment firms in Asia, for funding to develop greenfield battery energy storage systems (BESS) in North America.

With this commitment, Peregrine aims to create multiple gigawatts of special class, high yield, utility-scale energy storage assets in strategic locations by leveraging the Peregrine team's proprietary commercial and development strategy. Peregrine will exclusively source, develop, and manage the projects.

Youngjoon Lee, Chief Executive Officer and Managing Partner of IMMG commented, "We are excited to work with Peregrine Energy Solutions to invest in opportunities that advance our firm's focus on supporting the transition to clean energy and have the potential to generate value for our flagship Clean Energy Transition Fund."  

Peregrine has already secured a 6GW pipeline with site control and premium earning potential based on its proprietary prospecting method. The Peregrine management team collectively has over 20 gigawatts of renewable energy and storage facilities development experience.

"We are grateful to have the support and trust of IMMG as we aggressively pursue greenfield battery energy storage systems in North America," said Hagen Lee, Founder and Chief Executive Officer of Peregrine. "Our pipeline continues to grow with opportunities to develop and manage assets which bring stability to renewable energy markets while generating value for stakeholders."

The Peregrine Energy Solutions LLC seeks to source, develop, build and manage standalone battery energy storage and renewable energy assets across North America in an effort to unlock value in such assets. Assets developed and managed by Peregrine Energy Solutions are expected to benefit from an experienced team of renewable energy veterans who collectively bring over 20 gigawatts of renewable energy and storage facilities development experience to the projects they undertake.

Peregrine Energy Solutions is an integrated and multi-technology clean energy platform with a focus on utility scale energy storage that was established in 2022 through a partnership between Peregrine Energy Management and a global alternative investment manager with approximately $20 billion of assets. Peregrine Energy Solutions is a limited liability company formed in Delaware and headquartered in Boulder, Colorado.

IMM Investment Global is the overseas investment arm of IMM Investment Corp. ("IMM"), which is a leading Korean alternative investment manager with US$6bn assets under management and more than 70 investment professionals. Formed in 2019, IMMG has been rapidly implementing the group's sector-agnostic global investment strategy across North America, Europe, Asia, and MENA with a focus on high growth opportunities and clean energy transition investments.

Contact
Peregrine Energy Solutions
Alice Bray
206-639-7670
[email protected]

SOURCE Peregrine Energy Solutions