Spearmint Energy Completes 300 MWh Battery Energy Storage System in ERCOT Power Market; Revolution Commences Commercial Operation

Revolution Completed on Schedule, within Budget, and with Zero Accidents or Injuries

Spearmint Energy (“Spearmint” or the “Company”) a next-generation renewable energy company enabling the clean energy revolution through battery energy storage, today announced the successful completion of Revolution, the Company’s 150 MW, 300 MWh battery energy storage system (“BESS”) project in West Texas. Revolution, which ranks among the largest BESS projects in the United States, has commenced commercial operation to support a low-cost, clean, and resilient grid for homes and businesses throughout ERCOT.

With a shared commitment to safety, a workforce of 34 Mortenson craft team members and trade partners contributed approximately 42,000 working hours to install 134 battery containers containing 6,432 Sungrow battery modules, as well as 45 power conversion system (PCS) units, at Revolution. Revolution was completed on schedule, within budget, and 100% injury-free.

“We are proud to commence commercial operation at Revolution, our debut grid-scale storage project, to reliably deliver energy throughout ERCOT whenever and wherever it is needed. The project’s completion marks a major milestone for Spearmint as we cement our position as a leader in Texas’ fast-growing battery storage market,” said Andrew Waranch, Founder, President, and Chief Executive Officer of Spearmint Energy. “We are grateful to our many partners, including Mortenson and Sungrow, for their hard work and zero-injury mentality throughout the construction and commissioning process, and look forward to supporting Texas’ growing demand for electricity – particularly in the face of climate change and rising natural gas and oil prices – for years to come.”

Spearmint broke ground on Revolution in partnership with Mortenson. The project reached mechanical completion following the delivery and installation of Sungrow’s PowerTitan Series battery energy storage system. In October, Spearmint announced the close of a $92 million tax equity investment in Revolution provided by Greenprint Capital Management, marking one of the first applications of the Investment Tax Credit structure for a standalone battery energy storage system following the passing of the Inflation Reduction Act.

About Spearmint Energy

Spearmint is a next generation renewable energy company enabling the clean energy revolution through battery energy storage. The Spearmint platform is comprised of three distinct strategies, including battery and solar project development, energy storage offtake, and renewables power trading. For more information, please visit: https://www.spearmintenergy.com/

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