Latest news with #FrontierInfrastructure
Yahoo
29-05-2025
- Business
- Yahoo
Frontier Infrastructure Advances Power Platform with a Significant Turbine Technology Acquisition, $130 Million Senior Secured Equipment Supply Loan and Strategic Advisory Appointment
Tailwater-backed company accelerates deployment of low-carbon, behind-the-meter energy projects and bolsters leadership team amid rising industrial power demand DALLAS and NEW YORK, May 29, 2025 /PRNewswire/ -- Frontier Infrastructure Holdings ("Frontier" or the "Company"), a leading developer of low-carbon infrastructure across the Mountain West and Texas, today announced a series of strategic developments that reinforce its leadership in scalable power generation. These include the acquisition of 270 megawatts (MW) of gas turbines for behind-the-meter ("BTM") energy projects, the successful closing of a $130 million senior secured equipment supply loan to advance its power platform, and the appointment of veteran power executive Jonathan E. Long as a Board Advisor. Frontier is a portfolio company of Tailwater Capital LLC ("Tailwater"), a private equity firm with a full-immersion approach to energy and environmental infrastructure investing. Technology Equipment Acquisition Strengthens Frontier's Position in BTM Generation Frontier has purchased 270 MW of advanced NovaLT™ gas turbines from Baker Hughes, a key step in launching its first wave of BTM generation sites in Wyoming and Texas. This milestone builds on the companies' broader partnership announced in March 2025, which is focused on enabling large-scale power and carbon capture for energy-intensive operations. Driven by surging electricity needs across sectors like data infrastructure and industrial processing, Frontier's BTM model offers localized, dispatchable power with integrated carbon solutions. The newly acquired turbines will be fast-tracked for deployment to meet this growing demand. "We're seeing a rapid shift in how major power users think about reliability and emissions," said Robby Rockey, President & Co-Chief Executive Officer of Frontier. "With our scalable BTM solutions and the backing of trusted technology from Baker Hughes, Frontier is well-positioned to deliver resilient infrastructure that aligns with the performance and sustainability goals of today's largest energy consumers." $130 Million Senior Secured Equipment Supply Loan to Advance Power Platform To support this turbine acquisition and accelerate development of its power platform, Frontier closed a $130 million senior secured equipment supply loan with Kennedy Lewis Investment Management LLC ("Kennedy Lewis"), acting as Sole Lead Arranger. Combined with equity investment, the loan will fund near-term procurement of power generation equipment. "Kennedy Lewis' investment in Frontier represents a pivotal step in scaling our power generation platform and positions us to build incumbency in the BTM space" said Steven Lowenthal, Co-Chief Executive Officer of Frontier. "We are grateful to Kennedy Lewis and our advisors at PEI and Davis Polk for ensuring a quick and seamless transaction." PEI Global Partners ("PEI") served as Sole Financial Advisor to Frontier, with a deal team led by Sky Fabian and Karsten Schmitz. Davis Polk & Wardwell LLP acted as Borrower's Counsel, while Akin Gump Strauss Hauer & Feld LLP represented the Lender. Jonathan E. Long Joins Frontier as Strategic Board Advisor To support its continued growth and infrastructure development, Frontier has appointed Jonathan E. Long as a Board Advisor. Long brings more than three decades of experience in power generation and infrastructure, most recently serving as Vice President of Power Development at Entergy. He will advise Frontier as it scales its BTM and CCS platforms to serve energy-intensive customers. "We are excited to welcome Jon to the Frontier team," said Stephen Lipscomb, Partner at Tailwater Capital. "His deep industry knowledge and leadership in large-scale energy projects will be instrumental in advancing our mission to provide reliable, low-carbon energy solutions to high-demand sectors." About Frontier Frontier Infrastructure Holdings, LLC is a leading developer of low-carbon infrastructure solutions across the Mountain West and Texas, specializing in integrated power generation and carbon capture and storage projects. The company is at the forefront of industrial decarbonization, providing scalable, permanent carbon storage and behind-the-meter power solutions to support growing regional energy demand. For more information, please visit About Kennedy Lewis Kennedy Lewis is an alternative credit manager founded in 2017 by David K. Chene and Darren L. Richman with $28 billion under management across private funds, a business development company, and collateralized loan obligations. The firm seeks to deliver attractive risk adjusted returns for clients by investing across the credit markets through its opportunistic credit, homebuilder finance, core lending and broadly syndicated loan strategies. Visit us at About Tailwater Capital Dallas-based Tailwater Capital is an energy and environmental infrastructure private equity firm with a well-established track record of working constructively with proven management teams to deliver value-added solutions. Tailwater has raised more than $5 billion in committed capital since inception and the team has executed more than 235 transactions representing over $26 billion in value. For more information, please visit About PEI PEI Global Partners Holdings LLC is an independent, closely held investment bank with offices in New York City, Tampa and Hong Kong, specializing in the power, energy, and infrastructure sectors. PEI advises financial sponsors, developers and corporate clients on mergers and acquisitions, divestitures, financings, private placements, and other strategic transactions. For more information on PEI, please visit Frontier Media RelationsJill McMillanManaging Director, Communications & Public Affairs+1 214-489-7047jmcmillan@ John SchaufeleManaging Director, Investor Relations & FundraisingPhone: 214-489-7043Email: jschaufele@ For Inquiries Related to Frontier Infrastructure:Email: info@ View original content to download multimedia: SOURCE Frontier Carbon Solutions 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
Yahoo
29-05-2025
- Business
- Yahoo
Baker Hughes to Supply NovaLT™ Gas Turbines for Frontier Infrastructure's U.S. Data Center Project, Delivering 270 MW of Reliable Power
Baker Hughes will supply 16 NovaLT™ gas turbines for data center projects in the U.S. Award builds on the collaboration announced in March 2025 between Baker Hughes and Frontier HOUSTON and LONDON, May 29, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Wednesday an award from Frontier Infrastructure Holdings ('Frontier'), a Tailwater Capital LLC portfolio company, for 16 NovaLT™ gas turbines to power its data center projects in Wyoming and Texas, delivering up to 270 megawatts (MW) of efficient, reliable power. As part of the award, Baker Hughes is supplying Frontier its NovaLT™ gas turbine technology and associated equipment, including gears and Brush Power Generation four-pole generators, to power dedicated energy islands at Frontier's behind-the-meter (BTM) power generation sites. The order builds on a March 2025 agreement between the two companies to accelerate large-scale carbon capture and storage ('CCS') and power solutions in the U.S., including the Sweetwater Carbon Storage Hub in Wyoming. "This award underscores our commitment to advancing sustainable energy development through reliable and efficient power solutions that cater to the diverse needs of the industry,' said Ganesh Ramaswamy, executive vice president of Industrial & Energy Technology at Baker Hughes. 'Leveraging our comprehensive range of integrated power solutions for Frontier's U.S. data center projects demonstrates innovative, scalable and lower-carbon technologies helping to meet the growing demand for power." The NovaLT™ gas turbine is a multi-fuel solution that can start-up and run on different fuels, including natural gas, various blends of natural gas and hydrogen, and 100% hydrogen, providing customers with the flexibility to adapt and meet their specific reliable and sustainable power requirements. With a comprehensive portfolio of diverse, reliable and clean power solutions, including hydrogen-ready turbines, geothermal, and cogeneration, Baker Hughes provides market-ready, efficient and flexible solutions for data center hyperscalers, project developers, packagers and end users. About Baker HughesBaker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at For more information, please contact: Media RelationsChiara Toniato+39 Investor RelationsChase Mulvehill +1 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
Yahoo
02-05-2025
- Business
- Yahoo
Major partnership set to challenge outdated grid systems with custom-built energy: 'We are creating a ... power solution'
Carbon capture is an emerging environmental technology that may soon break through in the mission to combat the changing climate thanks in part to well-known companies making efforts to support its growth and applications. In March, oil field services provider Baker Hughes announced a partnership with Frontier Infrastructure to accelerate the development of large-scale carbon capture and storage technology power solutions throughout the United States. Carbon capture technology involves capturing and storing carbon dioxide emissions from industrial processes or directly extracting CO2 from the atmosphere. It is usually transported and stored underground. According to the terms of the deal, Baker Hughes agreed to utilize key technologies for well design, carbon dioxide compression, and long-term monitoring to develop Frontier's Sweetwater Carbon Storage Hub in Wyoming. In addition, the company will offer its gas turbines to support up to 256 megawatts of power generation, meeting the increasing power demand across the Mountain West, which includes Texas and Wyoming. Power demand is already expected to reach record highs this year because of the rapid expansion of data centers to support artificial intelligence technology, which is notoriously energy inefficient, according to the Energy Information Administration. "By integrating gas-fired energy with the potential for permanent carbon storage, we are creating a direct, reliable power solution tailored to evolving industrial needs," said Robby Rockey, co-CEO of Frontier. By supporting brands that adopt eco-friendly initiatives, we not only help the environment but also encourage other businesses to follow suit and adopt similar practices. Companies such as AE Global, for instance, are forming partnerships to tackle plastic waste on a global scale, fully aware of how much their customers care about the environmental impact of their products and wishing to inspire other brands to join the cause to make a difference. Do you think our power grid needs to be upgraded? Definitely Only in some states Not really I'm not sure Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Reuters
30-04-2025
- Business
- Reuters
US carbon capture storage hit by inflation, Trump
Summary Investment in large U.S. carbon capture storage facilities has been dented by inflation and Trump's spending freeze, impeding greener pathways for cement and other industries. April 30 - Carbon capture utilisation and storage (CCUS) is seen as a key tool to reduce carbon emissions from industrial operations and power plants, but making the leap to larger commercial projects is proving challenging. CCUS allows CO2 to be captured from burning fossil fuels and either stored or utilised in other industrial processes. Carbon capture technology is particularly useful in hard-to-abate sectors, such as cement, steel and chemical production. Tax credits introduced by the Biden administration helped to spur early projects but the future of support under President Donald Trump is uncertain. CCUS must be widely deployed at scale to become more economical and larger commercial projects are few and far between. Most operational CCUS projects are based on enhanced oil recovery in the oil industry. CHART: Sources of US CO2 emissions in 2022 While some customers are prepared to pay a premium for decarbonised products, CCUS requires large investments and attracting investors is difficult. Many companies have funded first of a kind projects from their own balance sheets, a spokesperson for energy technology firm Baker Hughes told Reuters Events. 'There is an established investment infrastructure and fundraising capability for traditional oil and gas and LNG projects, but for CCUS, clean power and other new technologies — it is far more challenging,' the spokesperson said. 'For unproven technology at scale, external funding is simply not there except for in very rare circumstances.' Join hundreds of senior executives across energy, industry and finance at Reuters Events Global Energy Transition 2025. Soaring power demand for AI and data centers may offer some additional pathways for CCUS projects. Last month, Baker Hughes signed a partnership with Frontier Infrastructure to develop integrated CCUS, gas-fired power and data center projects across the United States. "By integrating gas-fired energy with the potential for permanent carbon storage, we are creating a direct, reliable power solution tailored to evolving industrial needs," Frontier CEO Robby Rockey said in a statement. Tax credits The Biden administration boosted investment in CCUS projects by issuing 45Q tax credits and direct grants to encourage investment. The credits offer $85 per ton of CO2 sequestered providing wage and apprenticeship standards are met and they spurred the announcement of more than 270 projects that "span the carbon management value chain" and are at different levels of technology readiness, Christian Flinn, Public Policy Manager for the Carbon Capture Coalition, told Reuters Events. However, inflation has eroded the value of the tax credits and pushed up project prices. Developers face roughly 30% higher capital costs due to post-pandemic inflation, high interest rates and permitting difficulties, Howard Herzog, Senior Research Engineer with the MIT Energy Initiative, said. 'The optimism that the Bipartisan Infrastructure Bill and the Inflation Reduction Act generated is all but gone,' he said. Credits alone do not offer enough support for many projects, including most of the 90 U.S. cement plants in operation, according to Peter Findlay, Director, CCUS Economics at Wood Mackenzie. Wood Mackenzie forecasts U.S. CCUS capacity will double to 104 million tonnes a year by 2034. 'Increased and more certain incentives to decarbonise would spur this number higher," Findlay said. Funding unclear The Biden administration's Infrastructure Investments and Jobs Act has already spurred $1.7 billion of federal and private investment in CCUS projects, said Flinn. The act provides funding for CCUS power generation and industrial demonstration projects, CO2 pipelines and four regional Direct Air Capture Hubs. In December 2024, the Department of Energy (DOE) opened applications for $750 million of funding for commercial scale projects at one coal-fired plant or two industrial facilities; $450 million for large-scale CCUS pilot projects; and $100m for the design of CO2 transport and storage infrastructure. DOE said it had begun negotiations with Calpine over part financing the addition of 2 million tonnes a year CCUS capacity at its 896 MW gas combined heat and power facility in Baytown, Texas. However, the fate of the support announced in December is uncertain as a result of the Trump administration's spending review. For exclusive insights on the energy transition, sign up to our newsletter. State initiatives can also drive investment, such as California's low carbon fuel standard, and pressure on large companies by shareholders also plays a role, Herzog noted. The Trump administration may opt to keep the 45Q credit as many CCUS projects are in Republican states and the financing required is relatively small, Findlay said. DOE grant programs may be more at risk, he warned. Cement leaders CCUS is playing a growing role in decarbonising the global cement industry. The technology is essential for the cement industry to meet net zero, a spokesperson for German multinational Heidelberg Materials told Reuters Events. CCUS could account for 36% of global carbon reduction towards net zero carbon concrete by 2050, according to a roadmap set out by the Global Cement and Concrete Association. Heidelberg Materials has proposed a CCUS project at its Mitchell cement plant in Indiana that would supply 2 million tonnes of CO2 a year for storage or use from 2030. Test well drilling began in January with $8.9 million funding from the DOE's CarbonSAFE project. Heidelberg will open its first large scale CCUS facility this year at its Brevik plant in Norway in Northern Europe. The project will be able to capture 400,000 tonnes/year of carbon and was made possible by strong government support, the availability of co-funding and social acceptance for CCUS technology in Norway, the company spokesperson noted. The public sector plays an important role 'in ramping up green markets and accelerating the shift to climate-friendly products by adapting its procurement procedures," the spokesperson said. U.S. federal legislation over the past decade laid the groundwork for CCUS deployment but this must 'mark the beginning, not the end, of necessary efforts to build the portfolio of available federal policies for carbon management technology deployment," Flinn said.
Reuters
03-03-2025
- Business
- Reuters
Baker Hughes and Frontier Infrastructure enter carbon capture partnership
March 3 (Reuters) - Baker Hughes (BKR.O), opens new tab on Monday announced a partnership with Frontier Infrastructure to accelerate the development of the latter's large-scale carbon capture and storage (CCS) and power solutions in the United States. The oilfield services provider added it would provide technology solutions to support carbon capture projects along with power generation and data centers. CONTEXT Baker Hughes said it would leverage key technologies for well design, carbon dioxide compression and long-term monitoring to develop Frontier's Sweetwater Carbon Storage Hub located in Wyoming. The company added it would use its gas turbines to support 256 megawatts of power generation to meet increasing power demand across the U.S. Mountain West region, Texas and Wyoming. WHY IS IT IMPORTANT According to the U.S. Energy Information Administration, power demand is expected to reach record highs this year, primarily driven by the rapid expansion of data centers to support AI tech and industrial operations. Carbon capture is a process of storing CO2 underground, a crucial strategy for the energy sector to mitigate its emissions from industrial activity and reduce its impact on global greenhouse gas levels. KEY QUOTES "Baker Hughes is committed to delivering innovative solutions that support increasing energy demand, in part driven by the rapid adoption of AI, while ensuring we continue to enable the decarbonization of the industry," Baker Hughes CEO Lorenzo Simonelli said in a statement. "By integrating gas-fired energy with the potential for permanent carbon storage, we are creating a direct, reliable power solution tailored to evolving industrial needs," said Robby Rockey, co-CEO of Frontier Infrastructure.
