Conduit Power and Sunbridge Energy Services Announce Commercial Operations of Natural Gas Power Generation Facility at Sunbridge’s Compressed Natural Gas Plant in the Permian Basin

HOUSTON--(BUSINESS WIRE)--Conduit Power, LLC (“Conduit”), a portfolio company of Grey Rock Investment Partners (“Grey Rock”), is pleased to announce it has successfully delivered a utility enablement project for Sunbridge Energy Services, LLC (“Sunbridge”) at a plant site in the Permian Basin. Conduit is a turnkey provider of resilient, standalone baseload power generation systems for commercial and industrial users.

The 5 MW natural gas-powered electricity generation facility was engineered, procured, and constructed by Conduit, and will be managed, optimized, and operated by Conduit over a long-term services agreement with Sunbridge. The power generation facility has been operating for five months, providing reliable baseload power 24/7 to Sunbridge Energy’s 50 million cubic feet per day (50 MMcf/d) compressed natural gas (CNG) plant, which supplies CNG as a clean fuel alternative to oil and gas producers in the Permian Basin.

Sunbridge compresses and delivers the CNG in specialized trailers to oil and gas companies who are switching to dual-fuel engines to run the heavy equipment required for drilling, completion, and midstream operations in the Permian Basin. Conduit’s natural gas-fueled baseload power generation solution – and the services that support its continuous operation – directly contribute to the high performance and uptime of the Sunbridge CNG plant.

From Conduit Managing Director Mathew Whitaker: “Conduit is thrilled to deliver a highly reliable, cost-effective power solution that is presently generating continuous, clean baseload power so that Sunbridge can provide CNG and service its customers 24/7, today—not two years in the future on the utility’s timeline.”

“Working with Conduit and its team of experts has been a refreshing collaboration,” said Sunbridge Chief Financial Officer Larry Lawyer. “The team’s efficiency and knowledge in every aspect of the project design and implementation has allowed us to fast track our goals and deliver CNG to Permian operators ahead of schedule.”

Conduit’s power generation solutions for the energy and industrial sectors include:

• Build, Own & Operate Power Infrastructure under long-term power purchase agreement,
• Engineering, Procurement, and Construction (“EPC”) for its projects,
• Operations and Maintenance of equipment for its operations,
• Market Operations for power sales,
• Asset Financing,
• Short-term Power Supply as bridge power for delays in utility infrastructure.

About Conduit Power

Conduit Power is an Independent Power Producer (“IPP”) and services platform established to design, build, own and operate natural gas and battery storage power generation for commercial and industrial customers. Conduit’s mission is to offer total power solutions that help our customers accelerate in-service dates, lower costs, improve operations, reduce carbon emissions, and capture more value for natural gas. For more information, please visit www.conduitpower.co.

About Sunbridge Energy Services, LLC

Sunbridge Energy Services is bringing environmentally clean, competitive, and reliable compressed natural gas (CNG) to oil and gas producers in the Permian Basin through its state-of-the-art fueling facility strategically located in Tarzan, Texas. With a current capacity of 25 million cubic feet (MMcf), Sunbridge’s newly-constructed CNG fueling facility is helping Permian producers in their efforts to reduce emissions by replacing diesel fuel with clean and cost-effective fuel alternatives. For more information, visit www.sunbridgeenergyservices.com.

About Grey Rock Investment Partners

Grey Rock Investment Partners is a private equity firm with more than $1.3 billion in asset value across its private equity fund platform. The firm invests across the energy value chain with private equity funds focusing on investments in natural resources, carbon capture, industrial electrification, and power optimization. For more information, please visit www.grey-rock.com.