TORONTO, Dec. 01, 2025 (GLOBE NEWSWIRE) — AltCrest Energy (“AltCrest”), Development Engine Partners (“DevEngine”) and Spring Lane Capital (“Spring Lane”) are pleased to announce the launch of a strategic partnership to invest C$100 million in the fast-growing distributed energy resources (“DER”) sector across Canada.
The joint venture will focus on the development and ownership of DER systems, including rooftop solar photovoltaic, geothermal, microgrid and battery energy storage systems, serving institutional property owners and large corporate businesses seeking cost certainty and sustainable energy solutions. Each solution is offered under an Energy-as-a-Service (“EaaS”) model, under which the joint venture finances 100 percent of the development and construction. This structure eliminates the initial capital burden for land or building owners, provides immediate utility savings, and provides on-site protection from rising grid electricity prices.
The team has already stocked its portfolio with assets and project development agreements with leading institutional real estate owners and large corporate partners.
“As electricity demand continues to rise, driven by the rise of artificial intelligence data centers, manufacturing relocations and the adoption of electric vehicles, there is a significant increase in electricity demand, resulting in energy shortages and rising electricity prices,” said Ben Gilbank, founder and CEO of AltCrest. “DERs play an increasingly important role in providing owners, tenants and users with energy availability, cost certainty and, in many cases, significant savings to ensure successful operations.”
“The DevEngine, AltCrest and Spring Lane teams bring a compelling combination of capital and deep experience in the energy and real estate sectors to deliver this program,” said Tim Callahan, CEO of DevEngine. “We are uniquely positioned to deliver value to our customers from day one.”
“Canada's energy infrastructure market is benefiting from strong fundamentals,” adds Jason Scott, partner at Spring Lane Capital. “Distributed energy resources provide significant benefits that help meet grid needs and help advance the new energy transition. In addition, the Canadian government continues to support the growth of renewable energy systems from a policy perspective, making Canada an attractive market for operation and capital deployment.”
About AltCrest Energy
AltCrest is a Toronto-based energy company that helps commercial property owners, tenants and occupiers achieve critical cost, competitiveness and energy efficiency goals. AltCrest delivers solar photovoltaic, geothermal, microgrid and rooftop battery solutions under EaaS, saving capital and operating costs for its customers while achieving their energy goals. For more information visit www.altcrestenergy.com
About DevEngine:
Development Engine Partners (“DevEngine”) is a project development platform designed to support sustainable infrastructure developers by providing just the right capital at the right time and with the right expertise to bring projects to life. The company has deep experience in project development and project finance fundamentals, allowing them to unlock the full potential of renewable energy projects and bring them to fruition. DevEngine is actively seeking partnerships with sustainable infrastructure developers who need up-front capital and support to financially close their projects. With a commitment to innovation and sustainability, DevEngine is changing the landscape of sustainable infrastructure projects. Visit www.devengine.dev to find out more.
About Spring Lane Capital:
Spring Lane Capital is a private equity firm based in Boston, MA and Montreal, QC, specializing in providing hybrid project capital for sustainability solutions in the energy, food, water, waste and transportation industries. The firm's structured financial model aims to tap into some of the fastest-growing segments of these markets that more traditional forms of project capital cannot access due to their scale and the limitations of existing investment models. For more information visit www.springlanecapital.com..
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