News & Events
Marathon Capital Announces the Sale of Gravity Renewables to Relevate Power
December 11, 2024
December 11, 2024
Utility Scale Clean Power
Mergers and Acquisitions
Marathon Capital is pleased to announce the sale of Gravity Renewables, Inc. (Gravity) to Relevate Power (Relevate). Gravity is an owner, operator, and developer of small hydroelectric power plants in the United States and will be integrated into the existing Relevate portfolio of hydro-electric assets in the northeast. Marathon Capital acted as exclusive financial advisor to Gravity on the transaction.
Gravity’s best-in-class 40 MW hydro-electric portfolio represents a uniquely long-term renewable power investment in an exceptionally long-lived and proven renewable power generation technology. Relevate, a leader in the redevelopment of run-of-river hydropower assets, owns and operates 21 run-of-river hydropower facilities across the northeast and continues to optimize plans for future growth.
Marathon Capital provided marketing support, due diligence, and execution of the deal for Gravity to secure a successful outcome for all parties.
“Marathon Capital appreciated the opportunity to work with Gravity and their shareholders throughout this transaction. We wish all parties continued success as they work together to achieve significant milestones for the renewable energy industry.” – Gary Greenblatt, Vice Chairman, Marathon Capital
