
Five Point Infrastructure Announces the Formation of PowerBridge With a $1 Billion Equity Commitment, to Develop and Build Gigawatt-Scale Powered Data Center Campuses in North America
HOUSTON--(BUSINESS WIRE)--May 15, 2025--
Five Point Infrastructure LLC (formerly known as Five Point Energy, 'Five Point') today announced the formation and funding of PowerBridge LLC ('PowerBridge' or the 'Company'), with an equity commitment of up to $1 billion. PowerBridge is focused on developing, building, and managing gigawatt-scale data center campuses, associated power infrastructure and fiber network connectivity throughout North America.
The formation of PowerBridge builds on Five Point's powered land strategy, developing significant digital infrastructure projects that require abundant and reliable power and related infrastructure. Through affiliate company LandBridge (NYSE: LB), a leading land management business, PowerBridge will immediately gain access to more than 275,000 surface acres for infrastructure development, as well as direct access to low cost natural gas due to LandBridge's strategic positioning adjacent to the Waha Gas market hub. The platform will also uniquely benefit from its relationship with Five Point backed WaterBridge, a pioneer of water management and the largest pureplay, privately-held midstream water management company in the Delaware Basin, in addressing the cooling water needs of data centers and new power generation.
PowerBridge is led by CEO Alex Hernandez. Prior to founding PowerBridge, Mr. Hernandez was Founder and CEO of Cumulus Data and CEO of Talen Energy Corp (NASDAQ: TLN), one of the largest competitive power companies in North America with ~15 GW of power generation assets. Cumulus Data was sold to Amazon Web Services (AWS) in May 2024. Mr. Hernandez currently serves on the Board of Directors of ERCOT, which manages the flow of electric power to 27 million Texas customers and 90 percent of the state's electric load.
Mr. Hernandez said, 'We are excited to partner with Five Point to capitalize on this generational moment in the growth and convergence of energy and digital infrastructure. With Five Point's institutional support, our collective energy infrastructure, power operations, data center development, and fiber experience, and the significant additional value that other Five Point portfolio companies can bring for customers, we look forward to providing hyperscale customers with turnkey data center campus solutions at scale.'
The PowerBridge team, including Mr. Hernandez and other former Cumulus executives, is the only team to successfully develop and deliver a gigawatt-scale data center campus directly connected to wholesale power generation assets, without a grid connection. The 1 GW Cumulus data center campus was directly connected to Talen Energy's 2.6 GW Susquehanna Nuclear Power Plant in Berwick, PA. Validating the success of this project, AWS is in the process of deploying approximately $12 billion of capital into this digital giga-campus by constructing 17 data center buildings (~960 MW in aggregate). The team that developed this campus has been re-assembled to execute similar digital giga-campus deployments within PowerBridge.
David Capobianco, CEO and Managing Partner of Five Point, said, 'The formation of PowerBridge adds another important component to our powered land strategy. Together with Landbridge, WaterBridge, our deep institutional relationships and track record of building critical infrastructure companies, PowerBridge is well positioned to create best-in-class data, power, and fiber solutions for data center customers.' Mr. Capobianco continued, 'Alex and his team transformed the power and data center industries with the Cumulus project, and we firmly believe this experience, combined with our resources, will redefine the digital infrastructure landscape once again by providing a differentiated, integrated and competitive solution at multi-gigawatt scale.'
About PowerBridge LLC
PowerBridge develops, builds and manages gigawatt-scale data center campuses and associated power infrastructure and network connectivity throughout North America. For more information, please visit www.power-bridge.com
About Five Point Infrastructure
Five Point Infrastructure LLC (formerly known as Five Point Energy LLC) is a private equity and infrastructure investor focused on investments within the North American powered land, surface management, water management, and sustainable infrastructure sectors. The firm was founded by industry veterans with demonstrated records of success investing in, building, and running infrastructure companies. Based in Houston, Texas, Five Point has approximately $8 billion of assets under management across multiple investment funds. For further information, please visit www.fpinfra.com.
About LandBridge
LandBridge (NYSE: LB) owns approximately 277,000 surface acres across Texas and New Mexico, located primarily in the heart of the Delaware sub-region in the Permian Basin, the most active region for oil and gas exploration and development in the United States. LandBridge actively manages its land and resources to support and encourage energy and infrastructure development and other land uses, including digital infrastructure. LandBridge was formed by Five Point. For more information, please visit: www.landbridgeco.com.
About NDB Midstream and WaterBridge Operating LLC (collectively, 'WaterBridge')
NDB Midstream LLC is a strategic partnership between Five Point Energy and Devon Energy Corp. (NYSE: DVN) that operates full-cycle produced water transportation, handling, recycling and reuse assets in the northern Delaware Basin in West Texas and New Mexico and the Eagle Ford Basin in South Texas. NDB Midstream LLC handles approximately 1.2 million bpd of produced water and owns 2.0 million bpd of produced water handling capacity.
WaterBridge Operating LLC is a portfolio company of Five Point Energy and GIC that operates full-cycle produced water transportation, handling, recycling and reuse assets in southern Delaware Basin in West Texas and the Arkoma Basin in Oklahoma. WaterBridge Operating LLC handles approximately 1.2 million bpd of produced water and owns 2.2 million bpd of produced water handling capacity.
WaterBridge collectively comprises the largest pure play produced water midstream business in the industry. Headquartered in Houston, Texas, WaterBridge benefits from a first-mover advantage in the emerging water midstream sector with a management team with extensive experience in the water midstream industry. For further information, please visit www.h2obridge.com.
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on Five Point's beliefs, as well as assumptions made by, and information currently available to, Five Point, and therefore involve risks and uncertainties that are difficult to predict. Generally, future or conditional verbs such as 'will,' 'would,' 'should,' 'could,' or 'may' and the words 'believe,' 'anticipate,' 'continue,' 'intend,' 'expect' and similar expressions identify forward-looking statements. Forward-looking statements include, but are not limited to, strategies, plans, objectives, expectations, intentions, assumptions, future operations and prospects and other statements that are not historical facts, including our estimated future financial performance. You should not place undue reliance on forward-looking statements. Although Five Point believes that plans, intentions and expectations reflected in or suggested by any forward-looking statements made herein are reasonable, Five Point and its portfolio companies, including LandBridge and PowerBridge, may be unable to achieve such plans, intentions or expectations and actual results, and performance or achievements may vary materially and adversely from those envisaged in this news release due to a number of factors including, but not limited to: potential hyperscale customers' demand for and use of LandBridge's land and resources; the success of our affiliates, including LandBridge, PowerBridge, WaterBridge, and the counterparty to the previously disclosed lease development agreement, in executing their business strategies, including their ability to construct infrastructure, attract customers and operate successfully on LandBridge's land; potential customers' willingness and ability to develop LandBridge's land or any potential acquired acreage to accommodate any future surface use developments, such as the site under contract for the data center lease development agreement; LandBridge's ability to enter into favorable contracts regarding surface uses, access agreements and fee arrangements, including the prices LandBridge is able to charge and the margins LandBridge is able to realize; LandBridge's ability to successfully implement its growth plans, including through the future acquisitions of acreage and/or introduction of new revenue streams; PowerBridge's ability to acquire or develop power generation infrastructure; and any changes in general economic and/or industry specific conditions. These risks, as well as other risks associated with LandBridge are also more fully discussed in LandBridge's final prospectus filed with the SEC on March 25, 2025, and LandBridge's subsequent SEC filings. You can access LandBridge's filings with the SEC through the SEC's website at http://www.sec.gov. Except as required by applicable law, neither Five Point nor LandBridge undertakes any obligation to update any forward-looking statements or other statements herein for revisions or changes after this communication is made.
View source version on businesswire.com:https://www.businesswire.com/news/home/20250515364198/en/
CONTACT: Media Contacts
Daniel Yunger / Nathaniel Shahan
Kekst CNC
[email protected]/[email protected]
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: OTHER ENERGY UTILITIES NATURAL RESOURCES HARDWARE ENERGY DATA MANAGEMENT TECHNOLOGY OTHER NATURAL RESOURCES
SOURCE: Five Point Infrastructure LLC
Copyright Business Wire 2025.
PUB: 05/15/2025 08:15 AM/DISC: 05/15/2025 08:16 AM
http://www.businesswire.com/news/home/20250515364198/en

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
29 minutes ago
- Yahoo
S&P 500 Gains & Losses Today: J.M. Smucker Stock Sinks, Tesla Shares Recover
The S&P 500 added 0.6% on Tuesday, June 10, 2025, as investors awaited developments in trade negotiations between the U.S. and China. Tesla shares moved higher as social media posts from CEO Elon Musk promoted the company's upcoming robotaxi launch. Declining sales of sweet baked goods weighed on the performance J.M. Smucker, and shares of the food maker U.S. equities indexes climbed Tuesday as trade representatives from the U.S. and China engaged in talks for a second straight day. Both the S&P 500 and the Nasdaq ended the session with gains of around 0.6%, while the Dow was up 0.3%. Read Investopedia's full coverage of the day's trading here. Intel (INTC) shares surged nearly 8%, gaining the most of any stock in the S&P 500. Shares of other semiconductor makers also moved higher as the U.S.-China talks bolstered hopes for looser export restrictions. Although Apple (AAPL) said it will end support next year for Mac computers built with Intel's processors, providing more evidence of the transitional period faced by the chipmaker, analysts have expressed confidence in the ability of CEO Lip-Bu Tan, who took the reins of in March, to drive a turnaround at Intel. Caesars Entertainment (CZR) shares jumped 5.7%. TD Cowen analysts reiterated a "buy" rating on the casino operator's stock, noting that the company's loyalty program has helped drive entertainment, food and beverage, and lodging revenues to supplement its traditional earnings from gaming operations. The analysts also pointed to potential growth in its digital business. Tesla (TSLA) stock also added 5.7% as social-media posts from CEO Elon Musk hinted at the impending launch of the company's autonomous ride hailing service in Austin, Texas. Tuesday's move higher extended a recovery for the stock that kicked into gear during the previous session as tensions appeared to ease between Musk and President Donald Trump. Warner Bros. Discovery (WBD) shares advanced 5%, a day after the media conglomerate announced plans to split into two companies. One entity will house Warner's TV and movie studios along with the HBO Max streaming service, while the other will be home to its cable channels and the Discovery+ streaming service. The stock initially surged following the Monday-morning announcement, gave back those gains to end Monday's session lower, and then rose again today. Food maker J.M. Smucker (SJM) reported lower-than-expected sales for its fiscal fourth quarter of 2025, and its profit guidance for fiscal 2026 also came in below expectations. The maker of Folgers coffee and Uncrustables handheld sandwiches said that volume/mix impacts contributed to a year-over-year decline in net sales, especially declines in dog treats and sweet baked goods. Smucker shares sank nearly 16%, losing the most of any S&P 500 stock on Tuesday. Universal Health Services (UHS) fell 2.9% on Tuesday, extending losses posted in the prior session after the hospital operator's chief financial officer discussed a decline in the volume of surgical procedures at its facilities. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Los Angeles Times
32 minutes ago
- Los Angeles Times
US stocks drift closer to their record as Wall Street waits to see what US-China talks will bear
NEW YORK — U.S. stocks drifted closer to their all-time high on Tuesday as the wait continued to hear what will come of trade talks between the United States and China. The S&P 500 rose 0.5% as talks between the world's two largest economies carried into a second day. The Dow Jones Industrial Average added 105 points, or 0.2%, and the Nasdaq composite gained 0.6%. Stocks have roared higher since dropping roughly 20% below their record two months ago, when President Donald Trump shocked financial markets with his announcement of tariffs that were so stiff that they raised worries about a possible recession. Much of the rally has been due to hopes that Trump would lower his tariffs after reaching trade deals with countries around the world, and the S&P 500 is back within 1.7% of its record set in February. It's getting to be time to see whether such hopes were warranted. The talks with China were going 'really, really well,' U.S. Secretary of Commerce Howard Lutnick said Tuesday evening in London, where the talks were being held. The two sides worked on 'all sorts of trade issues,' he said, according to a video clip posted by the Chinese state broadcaster CGTN. Both the United States and China have put many of their tariffs announced against each other on pause as talks continue. Even though many tariffs are on hold for the moment, they're still affecting companies and their ability to make profits because of all the uncertainty they've created. Designer Brands, the company behind the DSW shoe store chain, became the latest U.S. company to yank its financial forecasts for 2025 because of 'uncertainty stemming primarily from global trade policies.' The company, which also owns the Keds, Jessica Simpson and other shoe brands, reported a larger loss for the start of the year than analysts were expecting, and its revenue also fell short of forecasts. CEO Doug Howe pointed to 'persistent instability and pressure on consumer discretionary' spending, and the company's stock tumbled 18.2%. The uncertainty is moving in both directions, to be sure. A survey released Tuesday of optimism among small U.S. businesses improved a bit in May. 'While the economy will continue to stumble along until the major sources of uncertainty are resolved, owners reported more positive expectations on business conditions and sales growth,' according to Bill Dunkelberg, chief economist at the National Federation of Independent Business. On Wall Street, J.M. Smucker fell 15.6% even though its results for the latest quarter topped analysts' expectations. Its revenue fell short of expectations, as did its forecast for profit in the upcoming year. Tesla helped to make up for such losses after rising 5.7%. The electric vehicle company has been recovering since tumbling last week as Elon Musk's relationship with Trump imploded. That raised fear about possible retaliation by the U.S. government against Tesla. Shares that trade in the United States of chipmaking giant Taiwan Semiconductor Manufacturing Co. rose 2.6% after the company known as TSMC said its revenue in May jumped nearly 40% from the year earlier. Casey's General Stores leaped 11.6% after the chain of convenience stores based in Ankeny, Iowa, reported a stronger profit for the latest quarter than analysts expected. It credited strength in sales of hot sandwiches and other items. All told, the S&P 500 rose 32.93 points to 6,038.81. The Dow Jones Industrial Average added 105.11 to 42,866.87, and the Nasdaq composite climbed 123.75 to 19,714.99. In stock markets abroad, indexes were mixed amid mostly modest movements across Europe and Asia. A 0.8% drop for Germany's DAX and a 0.6% gain for South Korea's Kospi were two of the bigger moves. In the bond market, the yield on the 10-year Treasury eased to 4.47% from 4.49% late Monday. Choe writes for the Associated Press.
Yahoo
34 minutes ago
- Yahoo
Lineage Announces Pricing of $500 million of Senior Notes due 2030
NOVI, Mich., June 10, 2025--(BUSINESS WIRE)--Lineage, Inc. (NASDAQ: LINE) (the "Company"), today announced that Lineage OP, LP (the "Operating Partnership"), a direct subsidiary of the Company, priced an offering of $500 million aggregate principal amount of 5.250% Senior Notes due 2030 (the "Notes") at a price of 98.991% of the principal amount. The Notes will be senior unsecured obligations of the Operating Partnership and will be fully and unconditionally guaranteed by the Company, Lineage Logistics Holdings, LLC and each other subsidiary of the Company (other than the Operating Partnership and certain excluded subsidiaries) that guarantees or is otherwise obligated in respect of the Company's revolving credit and term loan agreement. Interest on the Notes will accrue at a rate of 5.250% per annum and be payable semi-annually on January 15 and July 15 of each year. The Notes will mature on July 15, 2030. Closing of the offering is expected to occur on June 17, 2025, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the Notes to repay amounts outstanding from time to time under its revolving credit facility and for other general corporate and working capital purposes. The Notes have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the Securities Act. The Notes will be offered only to "qualified institutional buyers" under Rule 144A of the Securities Act or, outside the United States, to persons other than "U.S. persons" in compliance with Regulation S under the Securities Act. This communication is not an offer to sell or a solicitation of an offer to buy securities of Linage, Inc. or its subsidiaries, nor shall it constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. There can be no assurances that the offering of the Notes will be completed as described herein or at all. Safe Harbor Statement This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including statements related to the timing and consummation of the offering of the Notes and the expected use of the net proceeds. Forward-looking statements can generally be identified by the use of words such as words "estimate," "anticipate," "expect," "believe," "intend," "may," "will," "could," "should," "would," "seek," "position," "support," "drive," "enable," "optimistic," "target," "opportunity," "approximately" or "plan," or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters are intended to identify forward-looking statements. You can also identify forward-looking statements by discussions of strategy, plans or intentions of management. The Company can provide no assurances that it will be able to complete the offering on the anticipated terms, or at all. For a further list and description of such risks and uncertainties, see the Company's reports and other filings with the U.S. Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2024. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. View source version on Contacts Investor Relations ContactEvan BarbosaVP, Investor Relationsir@ Media Contact Megan HendricksenVP, Global Marketing & Communicationspr@