SMT Energy lands $270M equity partnership to scale battery storage
What's the deal? SMT EnergyDealroom has a profile for this one. Try Dealroom →, a Boulder, Colorado developer, owner and operator of battery energy storage systems, has secured an equity partnership of up to $268 million from Climate Adaptive Infrastructure (CAI)Dealroom has a profile for this one. Try Dealroom →. The deal, announced September 22, 2026, adds to $32 million CAIDealroom has a profile for this one. Try Dealroom → had already deployed into SMT assets.
What's the endgame? CAI's equity, combined with tax equity and project-level debt, will fund the development, construction and operation of SMT's battery projects across the US. The company builds distributed-generation, utility-scale and powered land projects aimed at strengthening grid reliability.
Why now? SMT plans to move faster and build at greater scale, tapping capital markets amid rising US electricity demand. The company said CAI's backing enables energy infrastructure worth "significantly greater than the equity provided."
"This partnership is a defining milestone for SMT Energy," said JJ Switzer, co-founder and co-CEO of SMT Energy. "CAI gives us the capital and support needed to move faster and build at greater scale."
Who's backing it? CAI, an infrastructure investment firm focused on low-carbon real assets across energy, water and urban infrastructure, led the deal. Expedition Infrastructure PartnersDealroom has a profile for this one. Try Dealroom → advised SMT, with Stoel RivesDealroom has a profile for this one. Try Dealroom → as its legal counsel and OrrickDealroom has a profile for this one. Try Dealroom → representing CAI.
The signal: Battery storage is increasingly the complement that makes renewables viable, smoothing out the intermittency of wind and solar as they proliferate. "As wind and solar proliferate as the most efficient and fastest ways to deploy new power, battery energy storage is increasingly critical for grid stabilization," said Bill Green, managing partner at CAI. The deal reflects investor appetite for scalable platforms positioned to meet growing power needs with lower-carbon infrastructure.
Read more: pr.holladayjournal.com
Image credit: Canadian Nuclear Laboratories
