Spearmint Energy, a leading developer and operator of battery energy storage systems (BESS), announced today that Elda River Capital Management has joined its $200 million enhanced credit facility. The funding will support the continued development and operation of Spearmint’s 4.1 GW BESS portfolio, as well as the expansion of its project pipeline across the United States. The credit facility, initially secured with Aiga Capital Partners in June 2023, now includes Nuveen’s Energy Infrastructure Credit team as a co-lender. The financing will support Spearmint’s growing portfolio of BESS projects, including its 150 MW / 300 MWh Revolution project in West Texas and over 1.0 GW of projects nearing construction in Texas’ ERCOT power market. Craig Rohr, Partner and Co-Founder of Elda River, said, “Spearmint has distinguished itself as a leader in both developing and safely operating utility-scale BESS projects in ERCOT and ISOs nationally. As we continue to focus our efforts on identifying and providing capital to exceptional companies that are championing the energy transition, we are excited to partner with the Nuveen Energy Infrastructure Credit and Aiga teams to support the strategic growth and development of Spearmint’s BESS portfolio.” Cory Magnuson, Chief Financial Officer of Spearmint, added, “We are proud…
Project Management Institute (PMI), a leading authority for project professionals, has announced the election of four new directors to its Board for the 2025-2027 term. The newly elected board members are: These four individuals will join returning board members Diane Alsing, Ike Nwankwo, Lissa Muncer, Lynn A. Keeys, Lynn Shannon, Pat Lucey, and Tom Bloemers. The Board will determine specific committee chair roles for 2025 later this year. PMI’s Board of Directors is responsible for overseeing the organization’s strategic direction and ensuring the delivery of value to its members and the global project management community.
NGP, a leading energy private equity firm, has announced the launch of NGP Sustainable Real Assets (NGP SRA). Backed by approximately $500 million in capital commitments from NGP’s dedicated energy transition fund and co-investors, NGP SRA will invest in real asset development platforms across the clean energy spectrum. NGP SRA focuses on supporting the critical development of clean power, clean fuels, carbon capture, sustainable transportation, and critical minerals projects. The firm will partner with exceptional management teams, often at the earliest stages of company formation, providing capital and expertise to build leading clean energy platforms. Chris Carter, NGP’s Managing Partner, commented “Our strategy with NGP SRA combines NGP’s 35-year track record of partnership-oriented investing, having backed more than 300 development platforms across the energy sector, with our firm’s significant capital, expertise and resources dedicated to the energy transition. We see a big opportunity to deploy an investment model NGP has honed over the last three decades into these attractive clean energy subsectors.” Phil Deutch, NGP Partner and Energy Transition Fund Head, remarked “We take great pride in our reputation as value-added partners and trusted sector specialists in energy. More than three decades ago, NGP pioneered the investment model that now…
BuildOps, a leading provider of all-in-one sales, service, and project management software for commercial contractors, has announced a strategic partnership with NexCore, a prominent platform for building services and facility management. This collaboration aims to leverage BuildOps’ advanced technology to accelerate NexCore’s growth and operational excellence within the HVAC sector. NexCore, known for its strategic acquisitions and operational excellence, is rapidly expanding its footprint in the commercial HVAC market. By integrating BuildOps’ software solutions, NexCore will streamline operations, enhance efficiency, and position itself for continued growth. “We are ecstatic to partner with such a distinguished company as NexCore,” said Michael Carey, VP of Strategy at BuildOps. “Their relentless pursuit of growth and operational excellence perfectly aligns with our mission to deliver the best technology solutions to commercial contractors. Together, we will build upon NexCore’s remarkable achievements and drive even greater success in the future.” “Partnering with BuildOps marks a significant milestone for NexCore,” said Steve Knowles, CEO of NexCore. “Their cutting-edge technology and profound industry expertise will be pivotal in supporting our growth and upholding our commitment to excellence. We eagerly anticipate working closely with BuildOps to achieve our shared goals.”
Tech giant IBM (NYSE: IBM) and real estate services leader JLL (NYSE: JLL) announced a collaborative effort today, unveiling a global sustainability solution designed specifically for the commercial real estate (CRE) sector. This new offering combines JLL’s established sustainability services, including decarbonization strategies, with IBM’s cutting-edge Envizi technology. This powerful duo provides CRE organizations with a comprehensive solution for managing and reporting ESG data across their real estate portfolios. Addressing the Sustainability Data Gap The solution comes at a critical time. JLL’s research report, “The Green Tipping Point,” predicts significant growth in demand for sustainable office space within the next 24 months. However, another report by the IBM Institute for Business Value, “The ESG Data Conundrum,” identifies a concerning gap in integrating ESG metrics into core business functions across organizations. With IBM Envizi, CRE companies can bridge this gap. The solution empowers them to capture and manage crucial ESG data, enabling informed decision-making and transparent public reporting on their sustainability efforts. Enhanced Sustainability Performance for JLL Clients JLL recognizes the vital role robust data management plays in helping clients achieve their sustainability goals. This collaboration makes IBM Envizi a key component of their existing Sustainability Program Management solution. With the…
Bloomberg Law has announced its participation as a Silver Sponsor at the upcoming American Association of Law Libraries (AALL) Annual Meeting & Conference in Chicago. The company will showcase its latest advancements in legal technology and content development, including the newly acquired project management and collaboration tool, Dashboard Legal. During the conference, Bloomberg Law will spotlight its robust AI and machine learning capabilities, with a particular focus on Clause Adviser, a generative AI tool that assists in drafting M&A agreements. The company will also demonstrate enhancements to its market-leading Dockets platform, including the addition of over 400 state courts and innovative features like AI-powered Docket Path and Time to Rule Analytics. Additionally, Bloomberg Law will highlight expansions to its Practical Guidance offerings, covering specialty litigation, commercial, and regulatory topics, as well as new In Focus resource pages on critical legal issues such as Chevron deference and overtime exemptions. “We are thrilled to demonstrate how Bloomberg Law’s continuous innovation and customer-focused enhancements make a real difference in the daily work of legal professionals,” said Joe Breda, president, Bloomberg Law. “Our value our participation at AALL and look forward each year to connecting with the library community to showcase our latest advancements.”…
Infosys Public Services, a subsidiary of Infosys, has been awarded a contract by the Delaware Department of Labor to modernize the state’s unemployment insurance tax, benefits, and appeals programs. The company will also develop a new system for the state’s paid family medical leave program. Infosys will implement its LaborForce solution, a Salesforce-based enterprise labor system, to streamline operations, enhance customer service, and improve the overall efficiency of the Delaware Department of Labor. This cloud-native solution will enable the department to adapt quickly to changing economic conditions and strengthen its security posture. Karryl Hubbard, Secretary, Delaware Department of Labor, said, “Facing an aging legacy system characterized by manual processes, incorrect dates and delays, we needed to transform customer experience, optimize and streamline operational processes and provide a technology platform enabling rapid response to quickly changing economic scenarios and an ever evolving federal and state regulatory environment. We are thrilled to collaborate with Infosys Public Services to implement Infosys LaborForce and vastly improve the services we provide.” Lax Gopisetty, President and CEO, Infosys Public Services, said, “We are honored and excited to work with the Delaware Department of Labor and help them navigate their implementation journey with Infosys LaborForce. The solution has been…
BAE Systems has awarded Parsons Corporation a $15.4 million contract to initiate the design phase for the modernization of the Alternate Nitrate Ester Manufacturing Facility at the Radford Army Ammunition Plant (RFAAP). This two-year project marks a significant step forward in the ongoing modernization of this critical U.S. Army facility. As the operating contractor for RFAAP since 2012, BAE Systems is committed to modernizing the World War II-era facility to enhance safety, efficiency, and environmental performance. Parsons, with its extensive experience in the Army’s industrial base, will play a crucial role in delivering this project. “BAE Systems is strongly engaged in supporting the U.S. Army in modernizing the Radford Army Ammunition Plant,” said John Swift, vice president and general manager of BAE Systems Ordnance Systems Inc (OSI). “Our continued collaboration with Parsons Corporation reinforces our commitment to deliver the Army’s vision for readiness.” Parsons is already engaged in designing and delivering the Energetic Waste Incinerator/Contaminated Waste Processor at RFAAP. This new contract further strengthens the company’s partnership with BAE Systems in supporting the Army’s modernization efforts. “As a premier design and construction management solutions provider for the Army’s industrial base, we’re proud to be a part of critical work at…
Paslay Group, a leading airport consultancy firm, announced today its selection to provide Executive Program Management (EPM) services for the Charleston International Airport’s (CHS) Terminal Development Program. This strategic partnership will support the airport’s ambitious expansion plans in one of the fastest-growing regions in the US. CHS, South Carolina’s busiest airport, experienced a record-breaking year in 2023 with 6.2 million passengers, a significant 15% increase compared to 2022. To accommodate this growth and enhance the passenger experience, the airport is currently in the design phase of its Terminal Development Program. This program includes potential additions of up to nine new gates across both the East and West Concourses, an expanded ticketing hall and security checkpoint, a modernized baggage handling system, and improvements to the terminal loop road. “Our 2023 numbers demonstrate that CHS is South Carolina’s favorite airport among airline passengers, and our growth trends are expected to continue,” said Elliott Summey, CHS CEO and executive director. “We’re pleased to partner with Paslay Group to ensure overall success of our program so that Charleston International Airport continues to provide Lowcountry business and leisure passengers and our airline partners an exceptional experience.” Paslay Group’s proven expertise will be crucial in leading…
Mercury Capital Advisors, a leading global placement and advisory firm specializing in alternative investments, today announced the appointment of Jeff Davis as Partner. Based in New York, Mr. Davis will spearhead North American private equity and private credit origination, client relationship management, and project oversight. A seasoned financial services professional with over 25 years of experience, Mr. Davis brings a wealth of knowledge and expertise to Mercury. For the past two decades, he has focused on private fund placement, collaborating with managers across private equity, private credit, real estate, and real assets. John Franklin, Managing Partner commented, “We look forward to leveraging Jeff’s expertise to build upon our fundraising and advisory capabilities. He brings to Mercury deep industry knowledge, a global network of relationships, and significant experience launching strategies across major asset classes that will further strengthen the bespoke advice and service our clients desire.” Prior to joining Mercury, Mr. Davis held leadership roles at FirstPoint Equity Capital and Eaton Partners. He has also served as an LP at Capital Dynamics and a GP at GE Equity, demonstrating a well-rounded understanding of the investment landscape from both sides of the table. Mercury Capital Advisors offers a full suite of services…
