Excelsior Energy Capital (“Excelsior” or “the firm”), a leading renewable energy infrastructure investor, today announced it has entered a multiyear partnership with Proximal Energy, Inc. (“Proximal”), an innovative artificial intelligence-powered asset management provider for utility-scale solar and energy storage projects. The collaboration will leverage Proximal’s cutting-edge platform to optimize Excelsior’s portfolio of energy storage assets, enabling real-time monitoring and performance enhancement across the firm’s pipeline of 2 GWh of storage projects.

The Excelsior-Proximal collaboration highlights the vast emerging potential of AI in the renewable energy space and showcases Excelsior’s commitment to leadership in industry innovation and value creation. Proximal's platform will introduce Excelsior to the provider’s proprietary Agentic Asset Management, a groundbreaking system powered by generative AI models that assists asset managers and operations and maintenance (O&M) providers. These digital “agents” have access to all project-related documents – such as user manuals, contracts, and warranty information – allowing them to act as knowledgeable colleagues who can instantly answer questions like: “How many modules per string are there?” or “What are the liquidated damages associated with the inverter OEM missing warranty obligations?” Additionally, the “agents” can analyze time-series data when requested – offering users the ability to investigate outages and underperformance events and to calculate KPIs, providing actionable insights into asset performance.

“Excelsior’s decision to partner with Proximal represents a considerable advancement in how we manage and optimize energy storage assets, and we are proud to help guide the renewable energy industry’s innovation on this vital front,” said Chris Frantz, Partner and Head of Operations at Excelsior Energy Capital. “This partnership aligns with our vision to leverage next-generation AI technologies to streamline asset management, reduce operational overhead, and ensure the long-term performance of our projects.”

Rob van Haaren, CEO and Co-Founder of Proximal Energy, emphasized the importance of the collaboration, “We are thrilled to have Excelsior as a partner. It’s a significant vote of confidence in our young but ambitious company. In our early discussions, we quickly realized that Excelsior’s vision of using AI to enhance asset management aligns perfectly with our own. With our firmly established platform, we’re looking forward to expanding our services, including the integration of bid scheduling optimization for energy storage assets.”

The agreement reflects both parties’ shared commitment to innovation, sustainability, and efficiency in renewable energy asset management. By integrating AI into day-to-day operations, Excelsior will be better-equipped to maximize the performance of its energy storage portfolio while meeting the growing demand for cleaner, more reliable energy across the U.S.

“We are excited about the extensive possibilities this collaboration brings,” added Dan Rosenberg, Director of Asset Management at Excelsior Energy Capital. “Proximal’s AI-driven platform will allow us to proactively manage our assets, mitigate risks, and ensure our energy storage projects are consistently operating at their full potential.”

This announcement follows a series of strategic initiatives and major announcements by Excelsior. In July, the firm announced a multiyear, 2.2 GWh agreement with Fluence Energy to utilize domestically manufactured battery cells in its U.S. energy storage projects, and in April, it announced a multiyear, 2 GW agreement with Heliene for domestically produced solar panels. Earlier in 2024, Excelsior launched Lydian Energy, an independent power producer specializing in the development, construction, and operation of utility-scale solar and battery energy storage projects across North America that the firm backs.

About Excelsior Energy Capital

Excelsior Energy Capital is a renewable energy infrastructure fund focused on middle-market investments in wind, solar, and battery storage plants and businesses across North America. The highly specialized team brings over 100 years of combined experience and a comprehensive set of strategic, financial, legal, and operational expertise, making Excelsior Energy Capital a valuable partner for developers and operators, and a trusted manager for investors. Based in Minneapolis, Minnesota, the firm was founded in 2017 with two active equity funds and manages over $1.45 billion in AUM. For more information, visit www.excelsiorcapital.com.

About Proximal Energy, Inc.

Proximal Energy is an AI-driven asset management company specializing in utility-scale solar and energy storage projects. Its platform leverages generative AI models to empower asset managers and O&M teams with real-time insights and analytics. Proximal is on the cutting edge of transforming how renewable energy assets are managed, optimized, and analyzed. For more information, visit https://proximal.energy/

Disclosure: This material does not constitute an offer to sell or the solicitation of an offer to buy any securities. Securities managed by Excelsior Energy Capital (the “Firm”) are offered to select investors only by means of a complete offering memorandum and related subscription materials which contain significant additional information about the terms of an investment in the Fund (such documents, the “Offering Documents”). Any reproduction or other distribution of this material in whole or in part without the prior written consent of the Firm is prohibited. Opinions, estimates and projections in this announcement constitute the current judgment of the Firm and are subject to change without notice.

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