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Lake Bridge Capital, and Fengate Asset Management announce the sale of NRStor C&I, a leading distributed energy platform

TORONTO , March 6, 2020 /CNW/ - Lake Bridge Capital, Inc. ("Lake Bridge") and Fengate Asset Management ("Fengate") announced the sale today of NRStor C&I L.P. ("NRStor C&I") to funds managed by Blackstone Energy Partners. 

NRStor C&I is a leading Toronto -based developer of battery storage solutions, targeting scale storage deployment opportunities within the commercial and industrial sector in North America.  A pioneer in the rapidly growing energy storage market, NRStor C&I provides solutions to customers across North America . A former subsidiary of NRStor Inc., it has over 200MWh of operational, in construction and contracted projects. Lake Bridge Capital was the seed investor in NRStor Inc. and the majority investor in NRStor C&I.

"It is gratifying to see the momentum that NRStor C&I has achieved," said Sarita Mandanna , Managing Partner, Lake Bridge Capital. "The company's growth underlines the need for innovative energy solutions. The scale and resources of its new partner will only escalate its progress, and I wish the team every success."  Joe Cashion , Managing Partner at Lake Bridge Capital, added "We're thrilled that the NRStor C&I team has partnered with Blackstone for the next stage of delivering sustainable energy solutions across North America ."

Marathon Capital, LLC served as advisor to NRStor C&I, Fengate and Lake Bridge. McCarthy Tetrault LLP and Torys LLP served as legal counsel to NRStor C&I, Fengate and Lake Bridge. 

About Lake Bridge Capital
Lake Bridge Capital is an investment management company focused on growth capital investments.  Headquartered in Toronto , the company has a global portfolio, investing in entrepreneurs and technologies across a range of industries, and in both primary and secondary transactions

About NRstor C&I
Established in late 2016, NRStor C&I L.P.is a turn-key energy-as-a-service provider to commercial, industrial and institutional customers as well as utilities across North America. With energy storage being a focal point of its offering, NRStor C&I provides its services under a turn-key build, own, and operate business model where no-capital outlay or operational expertise is required from the customer. NRStor C&I offers stand-alone, renewable coupled energy storage systems, as well as microgrids which are centrally managed through its state-of-the-art operational platform.

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SOURCE Lake Bridge Capital


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