New York – September 24, 2026 -- Climate Adaptive Infrastructure (CAI) has agreed to invest up to $268 million at the parent-company level into SMT Energy, a developer, owner and operator of battery energy storage systems, on top of $32 million CAI had already deployed into SMT assets.
CAI structures a parent-level equity partnership to fund SMT's U.S. storage buildout
The capital commitment, combined with tax equity and project-level debt, will finance the development, construction and operation of SMT Energy's battery storage portfolio across the United States. The platform spans distributed-generation and utility-scale battery storage as well as powered land projects aimed at reinforcing grid reliability.
Advisory teams from XIP, Stoel Rives and Orrick structured the transaction
Expedition Infrastructure Partners (XIP) served as financial advisor to SMT Energy on the deal. Stoel Rives acted as legal counsel to SMT Energy, while Orrick represented CAI as legal counsel.
The partnership gives SMT Energy long-term capital access to scale its battery storage ownership and operating platform without relying solely on project-by-project financing.