Excelsior Energy Capital Enters Multiyear, 2 GW Supply Agreement with Heliene for Domestically Produced Solar Panels

Excelsior Energy Capital (“Excelsior” or “the firm”), a leading renewable energy infrastructure investor, announced that it has entered a multiyear agreement to acquire 2.0 GW of photovoltaic modules from Heliene, Inc. ("Heliene”), one of North America’s fastest-growing manufacturers of high-quality solar energy equipment. As part of the long-term supply agreement, the two companies expect to work closely as partners.

The photovoltaic modules supplied under the agreement – commonly referred to as solar panels or PV modules – will primarily be produced at an existing Heliene factory in Mountain Iron, Minnesota, and at a new factory the company plans to build in the Greater Minneapolis-St. Paul area.

“The Excelsior team is excited by the wide-ranging benefits of this new agreement, which materially derisks supply of PV modules for our projects and allows us to work collaboratively alongside an established industry player as they expand and innovate over time,” said Chris Frantz, Partner at Excelsior.

“The agreement also deepens the confidence that other partners can have in the Excelsior team, as it delivers unmatched assurance in our ability to supply the necessary equipment for the solar energy projects that we invest in,” added Ryan Fegley, Co-Founder and Partner at Excelsior.

A majority of the PV modules supplied by Heliene would be produced in the United States. Through this agreement and partnership, Heliene and Excelsior will support growth of American clean energy jobs and manufacturing capacity. The agreement will materially reduce supply chain risk for Excelsior, including shipping delays, as well as tariff and other trade-related risks.

“Heliene is proud to formalize our supply arrangement with Excelsior as we continue building on a period of tremendous growth, both for our company and for the domestic solar industry as a whole,” said Martin Pochtaruk, CEO at Heliene. “Our team is grateful to work with such a high-value customer, and we are excited by the ways this agreement will help expand the use of our American-made, high-quality, and reliable solar technologies.”

Excelsior Energy Capital | http://www.excelsiorcapital.com

Heliene | www.heliene.com