FlexGen pockets secured US$150mn investment from Apollo Global Management

Funds managed by US private equity firm Apollo Global Management has invested US$150 million equity in energy storage solutions provider FlexGen Power Systems Inc. Apollo’s investment will be made in partnership with FlexGen’s existing investors, Altira Group, and the founding investment group led by Jerry Miller and Mark Dreyfus.

Since its founding in 2009, FlexGen has supported deployments of more than 1.2 GWh of energy storage systems across the U.S. and internationally for utility, microgrid, and C&I customers. FlexGen's proprietary software platform allows energy storage owners to deploy various power market strategies and combine storage solutions with any form of generation.

Vinson & Elkins LLP acted as legal counsel to the Apollo Funds. DLA Piper LLP acted as legal counsel and Citi acted as financial advisor to FlexGen for this transaction.