Investment round led by Mercuria Energy Group with participation from Ridgewood Infrastructure and supported by existing investors

MN8 Energy LLC (“MN8” or “The Company”), one of the largest and most sophisticated independent renewable energy companies in the U.S., today announced the closing of its private placement (the “Private Placement”), with gross proceeds of $325 million from the issuance and sale of shares of the Company’s convertible preferred stock. The proceeds from the Private Placement will be used to fund the Company’s expanded operations and growth.

The $325 million Private Placement is comprised of a $200 million investment by Mercuria Energy Group, one of the world’s leading independent energy and commodity groups, and $125 million by Ridgewood Infrastructure, a leading infrastructure investor in the U.S. Stockholders can choose to convert their preferred stock into converted common stock at a future date. As part of the agreement, Mercuria will obtain one seat as well as an observer seat on MN8’s board of directors, Ridgewood will receive an observer seat.

“The closing of our private placement of convertible preferred equity securities is a strategic move aimed at securing capital for tangible and measurable growth,” said Jon Yoder, President and CEO of MN8 Energy. “Our agreements with Mercuria and Ridgewood provide us with the financial means and capital to scale our growth, engineer innovative solutions for our clients and deliver enhanced value to our shareholders.”

With the closing of this placement, MN8 and Mercuria have formed a strategic collaboration supporting the identification of commercial opportunities aimed at advancing more sustainable, affordable, and reliable energy systems for the future. The partnership is configured to draw upon MN8’s renewable energy capabilities and Mercuria’s expertise in energy markets.

Brian A. Falik, Mercuria’s Chief Investment Officer, said “We are thrilled to support the MN8 team with this strategic investment that will enable MN8 to continue delivering on its growth plans. This transaction is consistent with Mercuria’s strategy of investing in best-in-class management teams who can leverage our energy market capabilities.”

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