Orenda closes growth equity investment from Ultra Capital. Investment to expand distributed battery storage in New York. New York, NY, July 15, 2026 - Orenda, a New York-based renewable energy developer, today announced the closing of a growth equity investment from Ultra Capital, an investment firm focused on sustainable infrastructure and energy transition. The investment will support Orenda's strategy to scale the deployment of distributed battery storage across New York City and the downstate region. New York City's grid is strained. High demand, limited transmission, and constrained generation have raised power prices, blocked new load, and left little reserve margin during peak demand or outages. Orenda's distributed battery storage addresses this directly, adding reliability and flexibility to the grid while lowering costs across the system. With strong state and city policy behind clean energy and grid resilience, New York City is one of the most attractive battery storage markets in the country right now. "Grid infrastructure is aging, energy costs are rising, and battery manufacturing is ramping up fast across the country. Those forces are converging right now," said Bill Grinstead, Chief Executive Officer of Orenda. "Ultra Capital brings deep experience in energy infrastructure and a track record of scaling operating platforms. This investment lets us expand the capabilities of our team and move faster to bring battery storage online across New York City." In conjunction with its investment, Mike Reynolds, Partner at Ultra Capital, has joined Orenda's Board of Directors. "Orenda has assembled a highly experienced team with a strong track record in project development, execution, and navigating complex urban power markets," said Reynolds. "The company's growing pipeline and disciplined approach position it to establish market-leading intellectual property in distributed battery storage. We believe Orenda is uniquely positioned to build and scale a best-in-class platform for deploying batteries at the distribution level in urban environments, and we are excited to support the team's next phase of growth." About Orenda Orenda develops, builds, owns, and operates battery energy storage projects in dense urban environments, with a development pipeline of 920 MW and 2.7 GWh across Downstate New York. Founded in 2020, the company pairs this infrastructure with proprietary asset management technology to close the gap between renewable generation and electricity demand. Orenda's mission is to make the grid more resilient and sustainable in Downstate New York. About Ultra Capital Ultra Capital provides equity capital to best-in-class management teams focused on the energy transition. Orenda invest growth equity and asset capital in companies with a successful track record of deploying demonstrated solutions in various sectors including solar, battery storage, distributed generation, EV charging, and fleet electrification. Orenda bring value to its partnerships through its experience as former developers, constructors, operators, and financiers of infrastructure assets.