BOSTON and RALEIGH, N.C., Aug. 24, 2022 (GLOBE NEWSWIRE) — NorthBridge Partners LLC (“NorthBridge”) and Green Bridge Energy (“Green Bridge”) today announced the launch of NetZero Logistics Inc. (“NetZero”), a strategic venture formed to invest in energy transition infrastructure for the logistics real estate sector. Specifically, the partnership will aim to integrate solar, electric vehicle (EV) charging, battery storage and other related technologies that enable the electrification and clean energy transition of logistics real estate assets. The venture will seek to be a fully integrated solution and capital provider for companies who are trying to achieve internal Net Zero goals.
NetZero will seek to respond to the sizable and growing opportunity in the fragmented commercial and industrial solar market, where large warehouse rooftops are perfectly fit for solar. Additionally, NetZero will address the imminent and unmet need for energy infrastructure to support the anticipated growth and adoption of EV van and truck fleets at or near their warehouse locations. The NetZero leadership team is managing over 35 megawatts (MW) of solar projects executed or under construction, with another 40 MW of solar and 50 MW of battery storage currently under development. In addition to potentially adding value and renewable functionality to assets in NorthBridge’s existing fund business, NetZero will focus on leading the clean energy transition required across logistics properties in the US and believes that this could create significant additional investment opportunities over time.
“We are very excited to announce the formal launch of the NetZero platform, which NorthBridge and Green Bridge have been working on together for almost two years. We view the electrification of commercial fleets as a long-term secular trend that will require significant investment in the infrastructure of real estate sites over the next decade,” said Greg Lauze, NorthBridge Partners Co-Founder and Managing Partner.
Dean Atkins, Co-Founder and Managing Partner of NorthBridge Partners, added, “We believe NetZero will be a solution and capital provider to both tenants and owners of real estate looking to modernize assets while also focusing on maximizing renewable energy solutions.”
“The growing demand for renewable energy in the commercial and industrial segments creates significant opportunities for capital allocation but also presents challenges for users and operators of the US grid. We believe that NetZero is well positioned to lead the electrification of infrastructure and its integration into the operating environment,” said Byrne Huddleston, Co-founder and CEO of Green Bridge Energy.
“We’re confident the combined NetZero Logistics team will expand green infrastructure at the speed of business for our customers, while simultaneously producing significant returns for investors,” added Green Bridge Co-founder, Justin Sullivan.
NorthBridge is a vertically integrated private equity real estate manager focused on the final mile logistics sector. NorthBridge currently has over $2 billion of real estate assets under management totaling over 10 million square feet and primarily invests through value-add funds seeking to acquire, reposition and develop last mile warehouses. For more information, please visit www.northbridgecre.com.
About Green Bridge Energy
Green Bridge is a leader in clean energy infrastructure in the commercial and industrial segment across the US with a focus on solar generation, energy storage, and EV charging infrastructure. The Green Bridge team brings more than 30 years of financial structuring experience and deep renewable energy domain expertise. Green Bridge de-risks project development and investment through expert financial structuring, innovative clean energy programs, and industry expertise. For more information, please visit www.greenbridge.energy.