Calgary-based Genalta Power Inc, a company focused on converting waste energy into power applications, has secured $5 million in funding from Kensington Power Income Fund. This is the first investment made by the Kensington fund, managed by Toronto-based Kensington Capital Partners to invest in small distributed generation power facilities that provide electricity from clean technologies. Genalta has been a portfolio company of Canadian specialty investment firm Crown Capital Partners since late 2012.
Kensington Power Income Fund Completes First Investment in Genalta Power Assets
TORONTO, Oct. 25, 2013 /CNW/ – Kensington Capital Advisors Inc. is pleased to announce the first investment by the Kensington Power Income Fund. The Fund has invested $5,000,000 into assets owned and operated by Genalta Power Inc., a Canadian based clean electricity generation company leading the way in waste energy to power applications. This investment in electricity generation is spread across 5 power plants located in Northern Alberta.
The first investment by the Kensington Power Income Fund is well suited to the Fund’s core strategy of investing in small distributed generation power facilities that provide electricity from a variety of clean energy technologies.
“We are very pleased to announce this strategic investment by the Kensington Power Income Fund and are excited about the potential for future growth with our partners at Genalta Power.” said John Walker, Managing Director of Kensington and responsible for the infrastructure investment business.
The Kensington Power Income Fund is a Limited Partnership investing in power assets located in Canada and the United States. The Fund targets a 10% net yield with a regular stream of distributions to be paid to investors quarterly over the life of the Fund.
Genalta Power is a Canadian based, clean electricity generation company leading the way in waste energy from heat, liquid pressure, gas pressure and solution, vented and surplus gas applications. The electricity generated from these applications is one of the most promising growth industries in the clean energy sector and is one of the best sources of fuel free, emissions free and inexpensive energy sources. For more information on Genalta Power please visit www.genaltapower.com
Kensington, founded in 1996, is a leading Canadian investor in alternative investments. Kensington is best known for its private equity investment programs, having committed over $600 million since 2002, and is also an active investor in infrastructure assets and hedge funds. Institutional investors such as pension funds and professional asset managers, as well as high net-worth individuals and retail investors, hold Kensington funds. For more information on Kensington and current offerings, please visit www.kcpl.ca.
SOURCE Kensington Capital Advisors Inc.
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