FlexGen Power Systems, a provider of energy storage solutions and software technology, secured a $75 million revolving credit facility with J.P. Morgan.
The revolving credit facility is designed to support FlexGen’s ambitious growth plans and reinforce its ability to deliver advanced energy storage technologies to enhance the reliability of today’s electric grid and accelerate the transition toward an ever-new grid.
J.P. Morgan served as the lead arranger and administrative agent for the facility along with commitments from Banco Santander, BNP Paribas and First National Bank of Pennsylvania. The revolving credit facility provides FlexGen with financial flexibility to expand its operations, strengthen its technology offerings and support the increasing demand for reliable, scalable energy storage solutions worldwide.
“The rapid expansion of AI and cloud computing is driving unprecedented growth in data center power demands. This trend, combined with the broader energy transition, makes reliable and intelligent energy storage solutions more critical than ever for maintaining grid stability. This facility represents a significant milestone for FlexGen as we continue to lead the way in enabling the modern grid,” Kelcy Pegler, CEO of FlexGen, said. “Collaborating with J.P. Morgan underscores our commitment to providing the bankable energy storage solutions needed to meet the needs of the 21st Century.”
“This financing will help build toward a future energy system that is more efficient, reliable and resilient,” Eric Cohen, head of green economy banking, North America for J.P. Morgan Global Corporate Banking, said. “J.P. Morgan is proud to support FlexGen in its mission to transform the energy landscape through innovative storage solutions.”
