Hover Energy and Task Contract Solutions Lead Decarbonization Breakthrough in the United Kingdom
Hover Energy and Task Contract Solutions have partnered to install the Hover Wind-Powered Microgrid™ at the Royal Navy Regional Headquarters in Liverpool, England, as part of broader effort by the UK Ministry of Defence to decarbonize military bases.
SAN FRANCISCO, MARCH 2023 – The HMS Eaglet has become the first building in the UK to install the global award-winning Hover Wind-Powered Microgrid™. Recently, US Capital Global Securities LLC, an affiliate of US Capital Global, launched an investment opportunity of up to $50 million in Hover Energy, LLC (“Hover” or the “Company”). With 32 patents filed in the United States and internationally, and 22 granted thus far, Hover aims to meet the most complex renewable energy needs for cities and island communities with its advanced climate technology, the Hover Wind-Powered Microgrid™.
The Hover Wind-Powered Microgrid™ features a combination of proprietary wind power technology and solar energy generation, with a ground-breaking electronic control system for behind-the-meter power integration of multiple sources. As the original equipment manufacturer and the developer, Hover designs, develops, and deploys microgrids through direct equipment sales as well as power purchase and energy service agreements. Hover’s exclusive UK partner, Task Contract Solutions, Ltd (“Task”), completed the project for the Ministry of Defence (MoD), and is working closely with Hover to deploy in many locations throughout the UK.
Chris Griffin, CEO and Co-Founder of Hover observed, “Microgrids represent the pathway to global net zero. This is a monumental moment in the history of distributed generation, and the MoD is leading the way. To entrust this level of need to this groundbreaking technology is a major statement for all microgrids to come. We are confident and extremely encouraged to be stepping together into our future with excellent partners here in the UK.”
Squadron Leader Mark Byrne said, “The installation of the Hover wind turbine at HMS Eaglet in Liverpool is a very significant moment for us as it represents a step change in the evolution of our sustainability work in the North West. Our forecasts show that the Hover wind turbine will drive down our grid electricity consumption by a baseline of 63%, which will save a significant amount of taxpayers’ money. Although economic drivers in these challenging times are extremely important, we see energy security and resilience as being equally noteworthy. HMS Eaglet is a major hub for collaborative work with other agencies including ‘blue light’ and civic services. These are all factors that demand an assured level of energy supply, making the new system vital to the security of the site.”
Ian MacVicar, Managing Director of Task, added, “Installation of the UK’s first Hover 36kW wind unit is the final piece in Task’s decarbonization project at the Royal Navy Regional Headquarters in Liverpool. With Task as Hover’s sole UK partner, it demonstrates that two companies with the same vision on carbon reduction can truly take facilities of any size off-grid by combining Hover wind, battery, and solar with low-carbon energy solutions.”
Charles Towle, CEO at US Capital Global Securities, added, “We are extremely proud to be supporting Hover, a company that disrupts the status quo by charting a pathway for renewable energy to take over as the primary source of power by enabling clients to build onsite energy independence and energy security. If you are interested in this market-disruptive technology firm, the opportunity to participate in its $50 million equity offering is open to eligible investors.”
About Hover Energy
Headquartered in Dallas, Texas, Hover Energy is dedicated to transforming the way people think about power by accelerating the transition to renewables as the primary source of energy. With our groundbreaking technologies and partnerships, Hover designs, develops, and deploys microgrids that harness the power of nature to generate power where it's consumed. www.hoverenergy.com
About US Capital Global
US Capital Global Securities LLC (“USCGS”) is the FINRA-member broker-dealer division of US Capital Global that acts as placement agent for growth-stage companies, projects, and investment funds. Since 1998, US Capital Global has been committed to providing lower middle market businesses and investors with sophisticated debt, equity, and investment opportunities usually available only to larger middle market companies and institutional investors, using the latest FinTech and RegTech innovation. US Capital Global entities manage direct investment funds and provide wealth management and capital raise services. USCGS or its affiliates may provide advice to, be compensated by, may have other business relationships with, or may from time to time acquire, hold or sell a position in the securities of the issuers mentioned herein. Any such offer or solicitation shall be made only pursuant to the confidential private placement memorandum. View USCGS’ Form CRS at www.uscapglobalsecurities.com/crs.html.
To learn more about this investment opportunity, email Frank Villarreal, Senior Vice President at US Capital Global Securities, at fvillarreal@uscapglobal.com or call +1 415-889-1047.
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