HMC Capital makes seed investment in Australian BESS developer Stor-Energy

July 10, 2024

HMC Capital has made a seed investment in Australia’s Stor-Energy, a specialist developer, owner and operator of utility-scale battery energy storage systems (BESS).

This represents the first investment by HMC Capital’s Energy Transition platform which is aiming to establish a 15GW development portfolio across wind, solar, battery, bio-fuels and emerging technologies.

The transaction is expected to reach financial close this month.

HMC managing director and CEO David Di Pilla, said: “Our investment in Stor-Energy represents an exciting step in the establishment of HMC Capital’s Energy Transition platform, something we have both the ambition and capability to develop into the National Champion for Australia’s decarbonisation”.

HMC head of energy transition Angela Karl, added: “We are impressed by the calibre of Stor-Energy’s management team, led by Gerard Dover, and believe the business has the potential to be scaled significantly.”