Morrison & Foerster advised Huck Capital, an investment firm committed to transforming the century-old utility model, in its partnership with Schneider Electric, a leader in digital transformation of energy management and automation, to form a new company that will deliver energy-as-a-service to commercial and industrial buildings. The new company combines Huck’s sustainability-focused investment and operational focus together with Schneider’s industry leading energy management and microgrid expertise, to create an innovative alternative for building owners and operators who want to transition to renewable energy to lower emissions, increase resiliency, and reduce costs, without investing in renewable energy assets and relying on specialists to operate the microgrid.
According to Schneider Electric, small and medium buildings represent over 90% of buildings in the U.S. and Canada today. The energy-as-a-service model simplifies what today can be a very custom, complex and expensive process by providing standardized, modular, pre-engineered solutions. An average commercial microgrid using renewable energy delivers over 10,000 tons of greenhouse gas savings over its lifetime, the equivalent of saving 21 million car miles. The new company's pipeline projects 5 megatons of greenhouse gas savings.
The MoFo team was led by San Francisco partners Suz Mac Cormac and Patrick Huard, Denver partner Erik Knudsen and Palo Alto partner Stephanie Thomas.