Le Lézard
Classified in: Oil industry, Environment, Science and technology, Business
Subject: CXP

Accelerated Mobile Power Expands Capital Facility to $300 Million with Stonebriar Commercial Finance

THE WOODLANDS, Texas, May 29, 2024 /PRNewswire/ -- Accelerated Mobile Power (AMP), a leading provider of mobile power generation services, today announced a significant expansion of its strategic alliance with Stonebriar Commercial Finance (Stonebriar). The available debt facility has been increased to $300 million, up from the initial $150 million committed by Stonebriar. The increase enables AMP to further its growth strategy in the mobile Power-as-a-Service industry.

Accelerated Mobile Power (AMP), announces a significant expansion of its facility with Stonebriar Commercial Finance.

"Our strategic partnership with Stonebriar has been instrumental in supporting our growth and success," said Travis Simmering, President and CEO of Accelerated Mobile Power. "The additional capital will allow us to continue expanding our fleet of mobile power generation assets and delivering a superior utility-like experience to our customers."

Dave B. Fate, CEO of Stonebriar, commented, "We are excited to expand our relationship with Accelerated Mobile Power. It's innovative approach to mobile power solutions and strong track record of delivering value to customers make them ideal for Stonebriar's portfolio."

Dave Bosco, Vice President of Business Development at AMP, added, "AMP's value proposition and brand have resonated strongly with partners in the industry. Our differentiated service offering and experienced team have enabled us to exceed our growth targets. Within 12-months of starting the business, we've secured 393MW of long-term contracts with strategic partners. This additional capital will support our continued trajectory towards 1GW installed base by 2027."

Reagan Rorschach, Senior Managing Director at Stonebriar, remarked, "We are pleased to support the AMP team as they build their power generation fleet and serve the electricity needs of customers in the energy industry and beyond. Increasing electrical power demand will drive their growth for the foreseeable future. We are proud to be a part of their solution."

Accelerated Mobile Power is headquartered in The Woodlands, Texas, and provides mobile power generation services utilizing gas turbines and natural gas reciprocating generators. The company's primary focus today is serving the oil and gas industry with mobile microgrids, including applications such as: electric fracturing (eFrac), production, gas processing, gas compression, drilling and in-field power. Future inroads to powering Data Centers and the AI revolution are in the business long-term growth strategy and present a unique opportunity to transition over time with best-in-class assets which meet permitted emissions requirements.

About Accelerated Mobile Power (AMP): Accelerated Mobile Power (AMP) is a pioneering provider of mobile power generation solutions utilizing gas turbines and natural gas reciprocating generators. Dedicated to innovation and sustainability, AMP delivers reliable and efficient power solutions to meet the dynamic needs of customers in a variety of industries including electric fracturing, production, gas processing, gas compression, drilling, and in-field power. The company leverages advanced technology and industry expertise to offer mobile power systems that are both environmentally friendly and highly effective. AMP is committed to driving progress in the energy sector and creating lasting value for its stakeholders. For more information, visit www.acceleratedpower.com.

About Stonebriar Commercial Finance: Stonebriar, an Eldridge business, originates and services a portfolio of lease and loan products secured by essential income-producing assets across the credit spectrum. Based in Dallas, TX, Stonebriar's portfolio serves as a catalyst for the U.S. economy by providing capital needed in key sectors including manufacturing, marine, aviation, rail, energy and real estate. To learn more about Stonebriar, please visit www.StonebriarCF.com.

For more information on Accelerated Mobile Power (AMP), reach out to Dave Bosco, Vice President of Business Development or our website, www.acceleratedpower.com