Freepoint Energy Solutions Announces Launch of its Texas C&I business

HOUSTONJune 28, 2018 /PRNewswire/ — Freepoint Energy Solutions LLC (“Freepoint Energy Solutions”) announced that as of July 1, 2018, it will be providing electricity commodity supply to commercial and industrial (“C&I”) customers in Texas.  Freepoint Energy Solutions will be active in the following markets: CenterPoint Energy Houston Electric, Oncor, AEP Texas Central, AEP Texas North and Texas-New Mexico Power.

Expanding on its rapidly growing PJM business, Freepoint Energy Solutions will offer a variety of products in Texas, specifically tailored to its C&I customers’ needs.

“We are excited to enter into ERCOT as we look to build on the successes we are having in PJM,” said Jackson Vo, President, Freepoint Energy Solutions.  “This is an important next step towards serving an even greater amount of customers across all deregulated markets.”

Freepoint Energy Solutions, an affiliate of Freepoint Commodities, currently supplies commercial and industrial customers in IllinoisPennsylvaniaOhioMarylandNew JerseyDelaware, and the District of Columbia.

About Freepoint

Founded in 2011, Freepoint is based in Stamford, CT with over 425 employees worldwide.  Freepoint is a merchant of physical commodities and a financer of upper and mid-stream commodity-producing assets.  Freepoint also provides physical supply services and related structured solutions for counterparties.

Media Contact

Davis MacMillan
RF|Binder 
+1 212 994 7509
davis.macmillan@rfbinder.com

Freepoint Energy Solutions to Commence Operations

STAMFORD, Conn.May 1, 2017 /PRNewswire/ — Freepoint Commodities LLC (“Freepoint”) announced today that its retail energy supply subsidiary, Freepoint Energy Solutions LLC (“Freepoint Energy Solutions”), has commenced operations.  Rollout of the business will begin in IllinoisOhio, and Pennsylvania with the remainder of the PJM energy market going live over the next few months. Freepoint Energy Solutions plans to enter ERCOT, NYISO and ISO-NE energy markets in a phased approach over the next 12 months, and will ultimately service all deregulated power markets throughout the United States.

Freepoint Energy Solutions offers cost-efficient, reliable energy services to commercial and industrial end-use customers while leveraging Freepoint’s expertise in the wholesale energy markets.

“We are thrilled to begin our rollout of Freepoint Energy Solutions to our commercial and industrial customers,” said Bradley Quester, President of Freepoint Energy Solutions. “Our world-class resources and our expertise in both wholesale and retail uniquely position us to offer competitive pricing and custom energy solutions designed to meet the specific needs of our customers.”

The Freepoint management team, having previously built and run RBS Sempra Commodities, has over 30 years of experience in the energy sector, including both managing and supplying energy to commercial and industrial businesses.

In addition to Freepoint’s wholesale platform and expertise, the firm will leverage its financial resources – which include a $2.1 billion credit facility – to deliver a superior experience for retail energy customers.  Freepoint is majority-owned by private equity funds managed by Stone Point Capital, a fund manager that has raised more than $13 billion for investment.

“Given our experience building the wholesale platform at Freepoint and previously building one of the largest energy retailers in North America, Freepoint Energy Solutions is a logical next step in the strategic growth of our power and natural gas business,” said David Messer, CEO of Freepoint. “By hiring the best talent and continuously investing in technology, we’ve remained committed to serving the best interests of our end-user customers.”

About Freepoint

Founded in 2011, Freepoint is based in Stamford, CT with over 370 employees worldwide.  Freepoint is a merchant of physical commodities and a financer of upper and mid-stream commodity-producing assets.  Freepoint also provides physical supply services and related structured solutions for counterparties.

Media Contact

Audrey Belloff
RF|Binder 
+1 212 994 7547 
audrey.belloff@rfbinder.com

Freepoint Commodities Extends Revolving Credit Facility and Upsizes to USD 2.1 Billion; Allows growth to USD 2.4 Billion

STAMFORD, Conn.April 24, 2017 /PRNewswire/ — Freepoint Commodities LLC (“Freepoint”) today announced that it has closed a USD 2.1 billion revolving bank facility (the “Facility”).  The Facility has been extended for another three-year term, to April 2020, and consists of a USD 1.445 billion three year committed tranche and a USD 655 million one year uncommitted tranche.  In addition, the Facility has a USD 300 million accordion feature.

BNP Paribas Securities Corp (“BNPPSC”), The Bank of Tokyo-Mitsubishi UFG, Ltd. (“MUFG”) and Natixis, New York Branch are Joint Lead Arrangers for the Facility.  BNPPSC and MUFG are also Joint Bookrunners.  BNP Paribas remains as the Administrative Agent.  Co-Syndication and Co-Documentation Agents include:  ING Bank N.V., Natixis, New York branch, Societe Generale and Coöperatieve Rabobank U.A., New York Branch.  Other continuing participating banks include: ABN AMRO Capital USA LLC, Commonwealth Bank of Australia, Credit Agricole Corporate and Investment Bank, Credit Suisse (Switzerland) Ltd., Deutsche Bank AG (New York branch) and UBS Switzerland AG.  Bank of ChinaNew YorkBranch, Industrial and Commercial Bank of China Ltd., New York Branch and Standard Chartered Bank have joined as new participants.  The Facility finances the physical merchant activities of Freepoint’s expanding global commodities businesses.

“We truly appreciate the strong relationships we have with our existing bank group and welcome the addition of three new participants to the Facility:  Bank of China, ICBC and Standard Chartered Bank.  Our lenders have demonstrated their sustained commitment to supporting Freepoint’s ongoing expansion throughout this amendment and extension process,” said CEO David A. Messer.

About Freepoint

Founded in 2011, Freepoint is based in Stamford, CT with over 370 employees worldwide.  Freepoint is a merchant of physical commodities and a financer of upper and mid-stream commodity-producing assets.  Freepoint also provides physical supply services and related structured solutions for counterparties.

Media Contact   
Audrey Belloff
RF|Binder 
+1 212 994 7547   
audrey.belloff@rfbinder.com

Freepoint Commodities Announces Launch of Retail Energy Supplier: Freepoint Energy Solutions

STAMFORD, Conn.Aug. 9, 2016 /PRNewswire/ — Freepoint Commodities LLC (“Freepoint”) announced today that it has launched Freepoint Energy Solutions LLC (“Freepoint Energy Solutions”), a competitive retail energy supplier that will focus on meeting the energy needs of commercial and industrial customers. The new company will enable Freepoint to offer C&I customers cost-efficient, reliable power and gas solutions while leveraging Freepoint’s expertise in the wholesale energy markets and allowing it to expand its overall customer base.

Freepoint’s management team, which previously ran Sempra Energy Trading and RBS Sempra Commodities, has decades of experience both managing and supplying energy to businesses in the retail energy supply space. Members of the team were involved in the growth and success of a number of competitive energy suppliers, including Sempra Energy Solutions.

Freepoint has hired Bradley Quester to serve as President of Freepoint Energy Solutions and lead the growth of the new business.   An industry veteran, Quester has years of experience in previous leadership roles at competitive energy suppliers, including Constellation Energy, Direct Energy and, most recently, Guttman Energy.

“This is an exciting milestone for Freepoint.  Our team is eager to leverage its deep experience and reputation for reliability in energy supply.  We plan to offer competitive and creative solutions and look forward to serving the needs of our customers,” said Quester.

“Given our management’s history, this really feels like a re-launch of the retail energy business at Freepoint,” said David Messer, CEO of Freepoint.  “We are confident that Brad and his team will be able to capitalize on our platform and team’s talent to ultimately achieve a best-in-class offering for Freepoint’s new customers.”

Freepoint Energy Solutions will operate out of Freepoint’s offices in Houston, TX and Stamford, CT and plans to commence operations in most deregulated energy markets in the coming months.

More information about Freepoint Energy Solutions can be found at www.freepointsolutions.com.

About Freepoint Commodities LLC
Founded in 2011, Freepoint is based in Stamford, CT with over 300 employees worldwide.  Freepoint is a merchant of physical commodities and a financer of upper and mid-stream commodity-producing assets.  Freepoint also provides physical supply services and related structured solutions for counterparties.  Freepoint is owned by private equity funds managed by Stone Point Capital, members of Freepoint’s management and senior employees.  More information about Freepoint can be found at http://www.freepoint.com.

Contact 
Jacquelyn Wilder
RF|Binder 
+1 212 994 7543
jacquelyn.wilder@rfbinder.com