Leading Edge Power Solutions Announces Equity Commitment from BP Energy Partners
Newport Beach, Calif., October 16, 2020 — Leading Edge Power Solutions, LLC (LEPS) a California-based company delivering clean, dispatchable, behind-the-meter natural gas fueled power generators to commercial and industrial customers, today announced an equity commitment from Texas-based BP Energy Partners, LLC (BPEP). The investment by BPEP will fund existing and future installations, while also expanding the Company’s Energy-as-a-Service platform. LEPS provides natural gas generators with cutting-edge technology and a proprietary control software system that maximizes energy utilization that saves customers money.
“We have spent over three years perfecting product development and we are proud of the result. Cutting edge generator technology and a proprietary control software system allows our engine to be dispatched in a way that saves our customers money on energy and demand charges,” said Dick Paulsen, President of Leading Edge Power Solutions. “As California businesses are facing skyrocketing energy costs, Leading Edge delivers a price advantage that allows customers to lower their energy bill at a time when they need it most.”
LEPS’ on-site reciprocating engine natural gas generator is the cleanest of its kind, and its annual emissions are lower than the emission limits for the South Coast Air Quality Management District in Southern California – the most stringent air quality management district in the nation. With wildfires and rolling blackouts becoming a regular occurrence in California, LEPS supports the state’s “Public Safety Power Shutoff” program by offering immediate backup and critical energy generation – eliminating the additional cost that businesses face from down-time during a power outage. Over time, LEPS customers are expected to save on their overall energy bill and consume less energy from the utility grid.
“While some programs serve residential customers, LEPS is specifically designed to power California’s businesses. The system’s extremely low emissions allow users to lower their carbon footprint and maximize energy efficiency – LEPS does all of this at no out-of-pocket cost from its customers,” said David Walters, CEO of the Company. “LEPS combines superior technology with an innovative approach to deliver a full-service energy solution that is like no other in the marketplace.”
LEPS’ business model is simple: customers receive a predictable price that is lower than what they currently pay their utility and are only charged for the power they use and nothing else. LEPS covers the cost for installation, natural gas, operations and maintenance – making it an attractive energy source for businesses that do not have the resources to make costly upfront infrastructure investments.
“We are excited to partner with Leading Edge Power Solutions and to attack this growing market opportunity. Across the United States, commercial and industrial clients face a daunting outlook for electricity costs and resiliency. The nation’s aging infrastructure and escalating service interruptions continue to be juxtaposed to high-cost utility de-carbonization efforts and renewable portfolio standards, leading customers to seek behind-the-meter solutions to reduce energy costs and improve resiliency. We see Leading Edge Power Solutions as bringing these objectives together into a tangible turn-key solution,” said Nathan Brawn, Managing Director at BP Energy Partners.