Eagle Point Credit Management, an innovative private credit investment manager, provided strategic credit financing to Microporous, a manufacturer of advanced battery separators and a portfolio company of Trent Capital Partners. Elda River also participated in the financing.
Eagle Point directly originated and structured this bespoke financing, which will support Microporous’ construction of a lithium-ion battery separator manufacturing facility in Danville, VA, and further expand its capacity to meet accelerating demand for energy storage solutions across automotive, industrial and grid sectors.
“This transaction is an excellent representation of Eagle Point’s ability to leverage our deep sector knowledge and credit underwriting expertise to directly originate and structure bespoke transactions tailored to borrowers’ needs,” Jennifer Powers, principal and head of infrastructure credit at Eagle Point, said. “Microporous’ strong sponsor support, deep operating history, experienced team and established leadership in battery separator manufacturing made this a compelling opportunity for our strategy. We look forward to supporting the Microporous team as it executes on this next phase of growth.”
John Reeves, CEO of Microporous, added, “This is a pivotal milestone for Microporous as we move from planning into execution. With the support of Trent, Eagle Point and Elda River, we are accelerating our expansion and strengthening our ability to deliver high-performance separator solutions for the lithium-ion battery market.”
Ray Desrocher, managing partner of Trent Capital Partners, said, “We are thrilled to support the next phase of Microporous’ growth and for its continued expansion of lithium-ion separator production here in the U.S. A significant augmentation of the company’s existing lithium-ion separator production capacity in Piney Flats, TN will position Microporous to serve this exploding market for years to come. We are pleased to partner with Eagle Point and Elda River and look forward to the start of construction.”
