Potomac Tech Wire - Oct 17
o Arlington-Based Lightshift Energy Lands $75 Million Credit Facility
o Hyper Solutions Opens Expanded Headquarters in Henrico
o Glen Allen-Based CareScout to Acquire Seniorly
o Security 101 Acquires Chantilly-Based Security & Energy
o Kathy Warden to Remain Chair of Greater Washington Partnership
o Briefly Noted: CTIA, Spire Global
Arlington-Based Lightshift Energy Lands $75 Million Credit Facility for Expansion
Arlington, Va. – Lightshift Energy, an Arlington-based developer of battery energy storage projects, said it has landed a new $75 million credit facility from KeyBanc Capital Markets. The company said it will use the funds to support its pipeline of energy storage projects across the East Coast, at a time when the U.S. is experiencing increased demand for energy storage. The flexible facility, which includes a term loan, construction-to-term loan and tax equity bridge loan, will back six of Lightshift’s operational projects and advance another 10 that are either in or nearing construction.
Hyper Solutions Opens Expanded Headquarters in Henrico
Henrico, Va. – Hyper Solutions, a manufacturer of digital infrastructure for data centers, said it has expanded its headquarters campus in Henrico, Va. The company held a ribbon-cutting ceremony on Monday at the campus, which includes an additional 50,000 square feet of manufacturing space that’s expected to come online later this year. Hyper, which has 40 employees in Virginia, makes electrical power distribution and cooling equipment used to run data centers.
“Just as technology platforms transformed how Americans shop and travel, Hyper is taking a disruptive approach to manufacturing by digitally linking factory capacity across the country into one coordinated system,” said Vladimir Gulkarov, the company’s co-founder and CEO.
Glen Allen-Based CareScout to Acquire Seniorly
Glen Allen, Va. – CareScout, the Glen Allen-based developer of a website designed to help families find senior home care providers, said it will acquire San Francisco-based Seniorly, provider of a website and advisor network that helps families evaluate and select senior living community options. The companies said the all-cash deal is valued at less than $20 million. CareScout said it plans to integrate Seniorly’s platform, which connects families to more than 3,000 senior living communities through its network of local advisors. “Families deserve trusted partners when planning for care, whether at home or in senior living communities, and this acquisition deepens our ability to be that partner,” said CEO Samir Shah.
Security 101 Acquires Chantilly-Based Security & Energy Technologies Corp.
Chantilly, Va. – Security 101, a Florida-based provider of commercial security products, said it has acquired Chantilly-based systems integrator Security & Energy Technologies Corp. (SETEC). Financial terms of the deal were not disclosed. The acquisition is Security 101’s 19th overall, strengthening its presence in the Mid-Atlantic market. Founded in 1987, SETEC designs, installs and integrates complex access control, video surveillance, intrusion detection and life-safety systems. The company was founded and co-owned by Chet Hahne and Mark Morgan. Robert Donnelly, a long-time member of the leadership team, will now serve as general manager, overseeing SETEC’s operations across the DC region.
Kathy Warden to Remain Board Chair of Greater Washington Partnership
Washington, DC – The Greater Washington Partnership, an alliance of private sector employers extending from Baltimore to Richmond, said on Thursday that Kathy Warden, the chair, president and CEO of Falls Church-based defense technology giant Northrop Grumman, will remain its board chair through the end of 2026. She became chair of the organization in early 2024. The Partnership also said it has renewed Kathy Hollinger as its CEO. She has led the organization for the past three years.
Briefly Noted
(Washington, DC) DC-based wireless industry association CTIA has named Google executive Elmar Weber to its board of directors. Weber is the vice president and general manager of Google’s Android and business communication team.
(Vienna, Va.) Vienna-based Spire Global, a provider of space-based data, analytics and space services, has named Dr. Toni Rinow to its board of directors. Rinow is the former CFO and COO of Neptune Wellness Solutions and Isologic Innovative Radiopharmaceuticals.