Mothership Incubator Announces Launch of New Option 1 ERCOT White-Label Retail Electric Provider
Backed by $5M Seed Round & Leading-Edge Technology Partner
HOUSTON–(BUSINESS WIRE)–Mothership Incubator (“Mothership”) is an innovative new ERCOT Option 1 Retail Electricity Provider (“REP”) providing white-label retail electric services to mid-size and large industrial customers looking for wholesale retail supply access, and cleantech consumer or electric vehicle brands seeking to monetize their distributed energy resource (DER) assets for grid services and lower their customer acquisition costs.
Mothership’s team is led by Maura Yates, a veteran innovator in the cleantech and retail electricity space, and supported by commodity market and renewable industry veterans, with a specific focus on renewables, DERs, electric vehicles and energy storage. Yates was named ‘Top 40 under 40’ by Renewable Energy Magazine and ‘Top 50 SmartGrid Pioneers’ by SmartGrid Today for her work with solar in ERCOT.
“The energy transition is happening now, and we are creating the next generation of retailers – figuring out their strategy and bringing them to market in the most economic way imaginable,” Yates said.
Lacuna Sustainable Investments, a thesis-driven team of entrepreneurs, investors and operators that seeks to partner with early-stage, innovative renewables infrastructure companies, has committed $5 million of seed funding to Mothership’s operations.
“Mothership is just the kind of company we’re looking to partner with at Lacuna,” said Patrick McConnell, Lacuna Managing Partner. “They have the dynamic vision and deep expertise to bring practical low-carbon and ESG solutions within reach of customers across Texas.”
Mothership’s services include all aspects of owning and running an Option 1 or 2 ERCOT REP, including licensing, collateralization, commodity supply, back-office support, compliance risks and all startup costs.
Mothership has partnered with Energywell, LLC (“Energywell”) to provide technology solutions and back-office operations. Energywell’s customer-facing platform provides unparalleled customer experiences for the modern electricity consumer and the ability to integrate DER assets into the real-time market.
“Mothership Incubator recognizes, as we do, the urgent need for fresh approaches to the way homes and businesses are powered, both from a reliability standpoint and a sustainability perspective,” said Michael Fallquist, Energywell Director & Co-Chief Executive Officer. “We’re confident that combining our platform with their service offerings will produce incredible results for customers and the environment.”
Mothership will be announcing the launch of their first white-label brand, a rooftop solar and battery storage provider, in Spring 2022.
About Mothership Incubator
Mothership Incubator aims to make participating in the retail electricity market simple. We offer wholesale retail electricity supply and white-label retail electricity services to a wide range of entities from mid-size and large commercial and industrial customers to consumer brands to bitcoin miners and more. Join Mothership today at www.MothershipIncubator.com.
About Energywell
Energywell is an energy technology company powering the sustainable energy transition. Energywell combines the financial strength of Oaktree Capital Management and commodities expertise of Hartree Partners with proprietary technology and a seasoned team of energy industry veterans. Energywell intends to scale quickly through opportunistic acquisitions and the development of innovative products and sales channels as well by licensing its proprietary technology to third-parties. For additional information, please visit Energywell’s website at https://www.energywell.com.
About Lacuna Sustainable Investments
Lacuna Sustainable Investments is an investment management firm active in the development, financing, and monetization of companies and projects focused on energy transition opportunities throughout North America. The firm is dedicated to investing in and building great businesses and projects through creating strong partnerships with best-in-class management and development teams. Please visit us online at lacunasustainable.com.
Contacts
MAURA YATES
CEO, Co-Founder
Maura@Mothershipincubator.com
602-882-9631