Catalyst Power, an independent provider of retail power and cleaner energy solutions for the commercial and industrial sector, closed a $15 million revolving credit facility with East West Bank. Running through 2029, the facility will be used to develop and execute the initial phase of the company’s pipeline of distributed Combined Heat and Power (CHP) and solar projects.
“Energy costs are rising, the grid is under real strain and onsite generation has gone from a nice-to-have to a central part of the answer,” Gabriel Phillips, CEO of Catalyst Power, said. “Smart businesses aren’t waiting for the grid to catch up. We appreciate East-West Bank recognizing the opportunity. This financing lets us greatly expand distributed CHP and deliver cost savings, greater efficiency, and lower emissions to commercial and industrial customers.”
