Basalt Infrastructure Partners II LP and DCO Energy Form New Partnership

NEW YORK–(BUSINESS WIRE)–Basalt Infrastructure Partners II LP (“Basalt”) and DCO Energy (“DCO”)
today announced the closing of a transaction to acquire a joint equity
ownership stake in DB Energy Assets, a newly formed entity that owns
four well established district energy systems in Hartford, CT,
Wilmington, DE Montclair State University, NJ and Atlantic City, NJ, and
a portfolio of cogeneration assets in the United States. The transaction
represents the fourth investment for Basalt.

Rob Gregor, Managing Partner of Basalt Infrastructure Partners LLP,
Advisor to Basalt, said: “As long term investors, we view DB Energy
Assets as a strong fit with Basalt’s investment strategy. We were
attracted by DCO’s proven track record and expertise in district energy
and cogeneration and believe DB Energy Assets will provide a strong
platform for growth with a fresh source of capital to take advantage of
increasing demand for cogeneration and district energy services in North
America.”

Frank DiCola, Chairman and CEO of DCO Energy said, “DCO is proud to be
teamed with Basalt on DB Energy Assets. Our shared vision on
environmentally and socially responsible energy projects coupled with
complimentary skill sets and a long term hold provides a very compelling
story to the marketplace.”

Further, Basalt and DCO today announced the completion of the
acquisition of Detroit Renewable Energy LLC, an integrated renewable
energy system comprised of Detroit Thermal, the City of Detroit’s
underground district energy steam system, as well as Detroit Renewable
Power and Hamtramck Energy Services. Detroit Thermal has reliably heated
some of Detroit’s landmark buildings and businesses for more than 100
years.

About Basalt

Basalt is an infrastructure equity investment fund focusing on
investments in utilities, energy and transport infrastructure in the
United States, Canada and Europe. In addition to DB Energy Assets, other
Basalt investments include Detroit Renewable Energy, North Star, and
Mareccio Energia.

For more information on Basalt please visit www.basaltinfra.com

About DCO Energy

DCO is a privately owned independent energy development company
specializing in the development, engineering, and construction, start
up, commissioning, operation, maintenance and management, as well as
ownership of district energy facilities, power plants and combined heat,
chilling and power production facilities. DCO has extensive experience
with district heating and cooling systems.www.dcoenergy.com

Contacts

Basalt
Jeff Neil, Partner, +1 646-661-3901
[email protected]