Funds will facilitate debt refinancing and support growth for leading pipe infrastructure services company

NEW YORK, Oct. 29, 2018 (GLOBE NEWSWIRE) -- Energy Impact Credit Fund (EICF), the credit platform of Energy Impact Partners (EIP), the leading utility-backed energy investment and innovation firm, today announced that it has provided a $22 million credit facility to Aquam Corporation, an integrated pipe infrastructure solutions company, based in San Diego, CA, that provides proven technology solutions to owners and operators of both water and natural gas pipe infrastructures. The financing is comprised of a $17 million loan for refinancing and working capital, as well as a $5 million delayed draw term loan available for growth and acquisitions.

Harry Giovani, EICF's Managing Partner, commented: “We are very excited to partner up with Aquam, a leader in the water and gas pipe infrastructure industry. We have been looking at the company for quite some time prior to making this investment and have been very impressed with their business model and management team and we look forward to supporting their growth.”  Greg Richards, EICF's Managing Director, added: "We believe Aquam’s ability to provide non-invasive diagnostics and rehabilitation services on water and gas pipelines from the inside-out, which is significantly less expensive and faster than traditional methods, is a key differentiator in the market.”

Dan Squiller, Aquam CEO, said, “The team at Energy Impact Credit Fund applies a rigorous process to identify the firms they invest in, which we believe is a positive reflection on Aquam’s track record, industry standing, and future growth potential. We are confident that our companies will have a long and productive partnership going forward.”

EIP established EICF to support U.S.-based small- and middle-market businesses, with a specific focus on energy-related investments. The group offers debt financing solutions such as first and second lien secured term loans and unsecured debt. It leverages EIP's existing infrastructure, deal flow, expertise in equity investing, and utility partner network to broaden the firm's financial solutions.  This is EICF's second investment, the first being a $20 million structured credit investment in Tendril Networks, Inc. (Tendril), a leader in residential energy analytics.

Through its flagship utility-backed investment fund, EIP has already deployed over $200 million into advanced energy technology companies, including Advanced Microgrid Solutions, Arcadia Power, AutoGrid, BHI Energy, Cimcon Lighting, Inc., Clevest, Dragos, ecobee, Enchanted Rock, FirstFuel, Greenlots, Mosaic, Opus One Solutions, Powerphase, Sense, Sparkfund, and Urbint.  Another EIP portfolio company, smart home security technology firm Ring, was acquired by Amazon in March 2018.

About Energy Impact Partners
Energy Impact Partners is a strategic private equity firm established in 2015 that invests in innovative technologies, services, and products throughout the energy supply chain from generation to consumption. It provides its strategic partners with critical information helping them plot a path into the future. Through close collaboration with its investor base, EIP seeks to bring the best companies, buying power and vision in the industry to bear on the emerging energy landscape. EIP’s utility partners include Southern Company, National Grid, Xcel Energy, Ameren, Great Plains Energy, Fortis Inc., AGL, Avista, MGE Energy Inc., TEPCO, PTT Public Company Limited, OGE Energy Corp., TransCanada, and Alliant Energy. For more information, visit www.energyimpactpartners.com.

About Energy Impact Credit Fund
The Energy Impact Credit Fund provides debt financing solutions to support U.S.-based small and middle-market businesses, with a specific focus on energy impact-related investments. The group offers funding support, such as first and second lien secured term loans and unsecured debt – which leverages EIP’s existing infrastructure, expertise in equity investing, and utility partner network to broaden the firm’s financial solution offerings.

About Aquam Corporation
Aquam Corporation is a global firm that provides infrastructure support, rehabilitation, diagnostics and monitoring solutions for water and gas infrastructure. Aquam, which is headquartered in San Diego, California, uses environmentally friendly technologies to address the world’s aging infrastructure problems. Aquam is the parent company of world-leading small-diameter pipe lining technology manufacturer Nu Flow Technologies; pipe lining installer Specialized Pipe Technologies (“SPT”); and global pipeline assessment and inspection technology provider Aquam Pipe Diagnostics. Aquam services are available in North America, South America, Europe, Asia, Africa and Australia. For more information, visit www.aquamcorp.com.

Contact info:
Eugene Hunt
Trevi Communications for Energy Impact Partners
gene@trevicomm.com
(978) 750-0333

Energy Impact Partners LP
contact@energyimpactpartners.com
(212) 899-9700

Harry Giovani, Managing Partner at Energy Impact Credit Fund
giovani@energyimpactpartners.com
(212) 899-9714

Greg Richards, Managing Director at Energy Impact Credit Fund
richards@energyimpactpartners.com
212-899-9706