Key Capture Energy
Key Capture Energy is a utility-scale battery energy storage independent power producer that develops, owns, and operates large-scale lithium-iron-phosphate projects in Texas and New York for electric utilities, ISOs, and state clean-energy programs.
- Company typePrivate
- Founded2016
- HeadquartersAlbany, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Key Capture Energy does
Key Capture Energy (KCE) is a privately held, Albany, New York-based independent power producer (IPP) that develops, constructs, owns, and operates utility-scale battery energy storage systems (BESS) in the United States. Founded in 2016 by Jeff Bishop and Dan Fitzgerald, KCE has grown to 85–100+ employees with offices in Albany, New York City, and Houston, and operates a portfolio of 14 battery storage facilities totaling more than 620 MW in Texas (ERCOT) and New York (NYISO), with an 8,000–10,000 MW development pipeline spread across 17–19 states. The company's core product is standalone (not solar-paired) lithium-iron-phosphate battery storage systems with four-hour discharge duration, integrated with EPC and BOP partners such as Powin, Sungrow, Mitsubishi Hitachi Power Systems, SunGrid Solutions, and Black & McDonald.
KCE generates revenue from three primary streams. First, long-term (20-year) Build-Own-Operate-Optional Transfer agreements with utilities such as the Long Island Power Authority (LIPA, 79 MW + 50 MW projects) and Orange & Rockland Utilities (3 MW) for capacity and dispatch rights. Second, participation in the ERCOT and NYISO wholesale markets for energy arbitrage, ancillary services, and capacity revenues. Third, monetization of Investment Tax Credits under the Inflation Reduction Act via tax-credit transfer transactions with buyers including Enhanced Capital and TReK Capital Partners. Customer concentration is on investor-owned utilities and public power authorities; NYSERDA has also provided incentive awards for projects such as KCE NY 1 and KCE NY 11.
Since September 2021, KCE has been majority-owned by SK E&S, the green-energy investment arm of South Korean conglomerate SK Group, in a transaction reported at approximately $1 billion. KCE is governed by an experienced leadership team — CEO Brian Hayes joined in late 2023 from EDP Renewables, where he led a 9,000 MW asset operations portfolio — and uses proprietary in-house software to optimize dispatch in wholesale markets. In 2026, reports emerged that SK Group is exploring strategic options for KCE, including a possible sale or new financial partner at a targeted capital raise of roughly $350 million.
Key Capture Energy firmographics
Firmographics- Name
- Key Capture Energy
- Legal name
- Key Capture Energy, LLC
- Website
- https://keycaptureenergy.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Key Capture Energy is a utility-scale battery energy storage independent power producer that develops, owns, and operates large-scale lithium-iron-phosphate projects in Texas and New York for electric utilities, ISOs, and state clean-energy programs.
- Ownership category
- akta.pro rank
Key Capture Energy industry classification
Industry- Product category
- Utility-Scale Battery Energy Storage
- NAICS
- Electric Power Generation (22111), Electric Power Generation, Transmission and Distribution (2211)
- SIC
- Electric Services (4911), Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Utility-Scale BESS Project Development & Ownership (IPP/Developer) (EUAFAAAA)
- akta.pro secondary industries
- BESS Market Participation & Trading Services (Ancillary/Capacity/Arbitrage) (EUAFAAAL), BESS Financing, Insurance & Contracting (Tax Equity, PPA/Tolling, Warranties) (EUAFAAAI), Energy Storage & Microgrid Electrical Infrastructure (BESS, Controls) (IMAFAHAE)
Keywords
Where Key Capture Energy is headquartered
LocationHeadquarters
- HQ city
- Albany
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
Key Capture Energy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Capacity and Dispatch Rights Sales: KCE sells capacity and dispatch rights from its battery storage facilities to utilities under long-term contracts (typically 20 years). Utilities like LIPA purchase guaranteed capacity (MW) and energy (MWh) from KCE projects.
- Wholesale Energy Market Participation: KCE operates projects within ERCOT and NYISO wholesale markets, providing grid balancing services and earning revenue from energy arbitrage and ancillary services.
- Investment Tax Credit (ITC) Transfers: Under the Inflation Reduction Act, KCE transfers investment tax credits to third-party buyers (like Enhanced Capital, TReK Capital Partners), providing immediate monetization of ITCs from standalone battery storage projects. Projects in 'Energy Community' zones qualify for 10% bonus credits.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Long-term utility capacity contracts |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Key Capture Energy product offering
Product offeringCore offering
Key Capture Energy is an independent power producer that develops, constructs, owns, and operates utility-scale battery energy storage systems (BESS) in the United States. The company sells long-term capacity and dispatch rights to utilities and participates in wholesale energy markets (ERCOT, NYISO) to provide grid reliability, renewable integration, and ancillary services. It also monetizes Investment Tax Credits (ITCs) from its standalone storage projects through transfer transactions under the Inflation Reduction Act.
Product overview
Key Capture Energy is a utility-scale battery energy storage independent power producer (IPP) that develops, constructs, owns, and operates large-scale BESS projects across the United States. The company's core offering centers on standalone battery storage systems (such as the KCE NY and KCE TX project series) that provide grid reliability services including capacity, dispatch rights, and energy arbitrage. Key Capture Energy implements proprietary market optimization software to maximize asset performance in wholesale energy markets. The company offers ITC transfer services under the Inflation Reduction Act and partners with utilities (LIPA, Orange & Rockland) under Build-Own-Operate-Optional Transfer Agreements for utility-scale battery storage projects. The development pipeline spans over 8,000 MW of projects across 17+ states.
Differentiator
Problem solved
Functional benefit
Products and services
- Utility-Scale Battery Energy Storage Systems (BESS)
Quantifiable outcome
- 623+ MW of battery storage in operations and construction
- +2 more outcomes
Companies that use Key Capture Energy
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles3 records
Key Capture Energy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Key Capture Energy partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered minor, core and major.
- Clifford Chance US LLPminorLegal representation for KCE in ITC transfer transactions.
- Akin LLPminorLegal representation for buyer in KCE ITC transfer transactions.
- Long Island Power Authority (LIPA)coreLIPA approved two battery energy storage contracts with KCE: 79MW in Hauppauge and 50MW in Shoreham under 20-year agreements. KCE will build, own and operate the facilities with LIPA holding capacity and dispatch rights.
- Stoel Rives LLPminorLegal representation for KCE in first ITC transfer transaction.
- SungrowcoreKCE signed agreement to procure battery systems for 390 MW of new battery storage projects from Sungrow.
- Talen EnergymajorPartnership to provide battery storage project at transitioning Maryland generation facility.
- Orange & Rockland UtilitiescoreO&R partnered with KCE for battery storage projects including a 3MW facility in Pomona, NY under O&R's Non-Wires Alternative program. KCE provides development, construction and operations services.
- Mitsubishi Hitachi Power Systems (MHPS)corePartnership to add 200 MW of battery storage to the Texas grid, combining MHPS equipment with Powin Energy battery systems.
- Powin EnergycoreFourth partnership with Powin providing fully integrated battery energy storage systems including cells, enclosures, cabling, transformers, inverters, and software controls for KCE NY 3 project.
- SunGrid SolutionsmajorEngineering, procurement, and construction (EPC) and balance of plant (BOP) services for KCE NY 3 project in partnership with Black & McDonald.
- Black & McDonaldmajorEPC and BOP services for KCE NY 3 project alongside SunGrid Solutions.
Scale indicators8 records
Recent moves8 records
Expansion highlights6 records
Key Capture Energy competitors and assessment
Company assessmentDirect peers
- Jupiter Power: Independent power producer focused exclusively on utility-scale standalone battery energy storage in the US. Directly comparable to KCE in target customers (utilities, ISOs), business model (develop/own/operate BESS), and revenue stack (capacity, ancillary services, ITC transfers).
- Plus Power: US-based standalone battery energy storage IPP developing, owning, and operating utility-scale BESS projects. Closest direct peer to KCE in terms of standalone-storage focus, ISO market participation, and long-term utility offtake contracts.
- Arevon Energy: Renewable energy IPP with a significant standalone battery energy storage development portfolio across the US. Comparable to KCE in utility-scale storage development, ITC monetization under the IRA, and large-scale project pipeline management.
- Strata Clean Energy: Solar and battery storage developer/owner/operator with utility-scale projects in the US. Comparable to KCE in BESS development, EPC integration, and recent executive cross-pollination (Joel Vyduna, KCE's EVP of Technology, previously led BESS at Strata).
Broad incumbents
- Clearway Energy: Publicly traded renewable energy IPP with growing battery storage portfolio. Comparable to KCE in contracted cash flows, utility-scale storage development, and wholesale market participation, but operates as a diversified incumbent across wind, solar, and storage.
- EDP Renewables: Global renewable energy developer with utility-scale solar, wind, and emerging BESS portfolio. Directly relevant as the prior employer of KCE's CEO Brian Hayes and an industry reference point for utility-scale renewable-plus-storage IPP operations.
- ENGIE: Global energy major with growing US battery storage portfolio across ERCOT and other markets. Comparable to KCE in wholesale market participation, utility-scale BESS development, and large-scale renewable integration, though as a much larger diversified incumbent.
Emerging players
- Form Energy: Developer of long-duration iron-air battery storage systems with utility-scale pilots. Comparable as a standalone storage IPP targeting utility offtakers, but with a different (longer-duration) technology focus than KCE's lithium-iron-phosphate, four-hour systems.
- Pine Gate Renewables: US-based solar and battery storage developer with utility-scale projects. Comparable to KCE in developing and owning storage assets, securing utility contracts, and leveraging ITC transfer structures, though with a hybrid solar-plus-storage focus.
- Hecate Energy: US solar and battery storage developer with utility-scale projects. Comparable to KCE in developing utility-scale energy storage assets, working with ISOs and utilities, and participating in IRA-driven ITC monetization, though primarily a co-located solar+storage developer.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Key Capture Energy social profiles
Digital presenceKey Capture Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Key Capture Energy leadership team
Management profileNumber of profiles
Profiles11 records
Key Capture Energy subsidiaries and ownership
Company hierarchySubsidiaries1 record
Key Capture Energy funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Key Capture Energy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Key Capture Energy
What does Key Capture Energy do?
Key Capture Energy is an independent power producer that develops, constructs, owns, and operates utility-scale battery energy storage systems (BESS) in the United States. The company sells long-term capacity and dispatch rights to utilities and participates in wholesale energy markets (ERCOT, NYISO) to provide grid reliability, renewable integration, and ancillary services. It also monetizes Investment Tax Credits (ITCs) from its standalone storage projects through transfer transactions under the Inflation Reduction Act.
Is Key Capture Energy a public or private company?
Key Capture Energy is a private company. It is classified as corporate owned and is currently operating.
When was Key Capture Energy founded?
Key Capture Energy was founded in 2016. It employs 51 to 100 people.
Where is Key Capture Energy based?
Key Capture Energy is headquartered in Albany, United States, in the North America region.
How does Key Capture Energy make money?
Three revenue lines are on record. Capacity and Dispatch Rights Sales are the primary driver. The others are wholesale Energy Market Participation and investment Tax Credit (ITC) Transfers.
Who are Key Capture Energy's main competitors?
Direct peers on record are Jupiter Power, Plus Power, Arevon Energy and Strata Clean Energy. Broad incumbents are Clearway Energy, EDP Renewables and ENGIE. Emerging players are Form Energy, Pine Gate Renewables and Hecate Energy.
Does Key Capture Energy have an API?
No public API is recorded for Key Capture Energy.
What industry is Key Capture Energy in?
Key Capture Energy's product category is Utility-Scale Battery Energy Storage. Its primary akta.pro industry code is EUAFAAAA, Utility-Scale BESS Project Development & Ownership (IPP/Developer), with a secondary code of EUAFAAAL, BESS Market Participation & Trading Services (Ancillary/Capacity/Arbitrage). Its NAICS code is 22111 and its SIC code is 4911.