Spearmint secures Permit for 600 mwh MISO battery project. Spearmint Energy secures key approval for 600 mwh Midwater battery Storage Project in Minnesota. Spearmint Energy, a next-generation energy company focused on delivering reliable, secure, and cost-effective electricity solutions through large-scale battery storage projects, has received an important regulatory approval for its latest energy infrastructure development in Minnesota. The Minnesota Public Utilities Commission (PUC) has officially granted a Site Permit for the company's Midwater Energy Storage Project, a standalone battery energy storage system (BESS) that will have a planned capacity of 150 megawatts (MW) and 600 megawatt-hours (MWh). The approval marks a major milestone for both Spearmint Energy and Minnesota's rapidly evolving energy landscape, positioning the Midwater project as another significant step toward enhancing grid reliability and supporting the state's long-term energy transition goals. Strategic project location in Southern Minnesota. The Midwater Energy Storage Project will be developed in Freeborn County, Minnesota, where it will occupy approximately 10 to 20 acres of privately owned land. The project site is strategically located adjacent to the Glenworth Substation along Minnesota Highway 65, enabling efficient integration with the regional electricity transmission network. Its location within the Midcontinent Independent System Operator (MISO) market is particularly important, as the region continues to experience increasing electricity demand, greater penetration of renewable energy resources, and growing requirements for grid flexibility. Battery storage assets such as Midwater are becoming increasingly essential in maintaining grid stability while supporting the integration of intermittent generation resources including wind and solar power. The site permit approval demonstrates regulatory confidence in the project's environmental compatibility, engineering design, and long-term benefits for Minnesota's energy infrastructure. Supporting a more reliable and affordable grid. Once operational, the Midwater facility will serve as a flexible energy resource capable of storing electricity during periods of surplus generation and discharging power back to the grid when demand increases or renewable production declines. Battery energy storage systems have become a cornerstone of modern grid operations because they provide numerous operational benefits, including: * Enhancing grid reliability and resilience. * Supporting renewable energy integration. * Reducing transmission congestion. * Improving system flexibility during peak demand periods. * Helping stabilize electricity prices. * Providing reserve capacity and ancillary services. As utilities and grid operators face the challenges associated with growing electrification, data center expansion, and increasing renewable energy deployment, large-scale battery projects are increasingly viewed as critical infrastructure investments. The Midwater project is expected to contribute to a more dependable and cost-effective electricity supply for communities throughout Southern Minnesota while supporting broader regional reliability objectives within the MISO market. Spearmint highlights importance of regulatory support. Andrew Waranch, Founder, President, and Chief Executive Officer of Spearmint Energy, praised the efforts of Minnesota regulators and emphasized the significance of the permit approval. According to Waranch, the company appreciates the dedication and thorough review conducted by the Minnesota Public Utilities Commission and its staff during the permitting process. He noted that securing the Midwater site permit represents a meaningful investment in the long-term energy future of Southern Minnesota and reflects the growing importance of advanced storage technologies in modernizing the electric grid. The approval also reinforces Spearmint Energy's strategy of developing large-scale storage assets in markets where demand for flexible energy infrastructure continues to increase. Growing need for Energy Storage infrastructure. Peter Rood, Chief Development Officer of Spearmint Energy, highlighted the increasingly important role battery storage systems play in maintaining grid reliability. He noted that energy storage facilities provide critical operational flexibility by capturing excess electricity when generation exceeds demand and returning that power to the grid during periods of higher consumption or constrained supply. This capability is becoming increasingly valuable as electricity demand rises across the United States. Growing industrial activity, the electrification of transportation, expanding artificial intelligence infrastructure, and the proliferation of data centers are placing unprecedented demands on electric systems. Projects such as Midwater help address these challenges by delivering infrastructure capable of balancing supply and demand dynamics in real time. In addition to improving reliability, battery systems can also help lower costs for consumers by reducing dependence on expensive peaking generation resources. Rood stated that the company is pleased to have reached this significant development milestone and views the project as an important contribution to the region's evolving energy system. Building momentum in Minnesota. The Midwater project represents Spearmint Energy's second major advancement through Minnesota's state permitting process. Previously, the company successfully secured approval for the Snowshoe Energy Storage Project in Olmsted County. That project became notable as the first standalone battery energy storage facility to receive approval in the state, establishing an important precedent for future storage developments in Minnesota. The successful permitting of both Snowshoe and Midwater demonstrates increasing regulatory familiarity with battery energy storage technologies and reflects Minnesota's commitment to supporting modern energy infrastructure solutions. As state policymakers continue to pursue ambitious clean energy and reliability objectives, energy storage projects are expected to play an increasingly prominent role in ensuring that electricity systems remain dependable and economically sustainable. Expanding role of battery storage across MISO. The MISO region has emerged as one of the most active markets for battery energy storage development in North America. Significant additions of renewable generation, coupled with accelerating load growth, are driving demand for technologies capable of providing dispatchable flexibility. Battery projects like Midwater can deliver a wide range of grid services, including frequency regulation, capacity support, voltage management, and emergency backup capabilities. Their rapid response characteristics make them particularly valuable during periods of system stress or unexpected generation shortfalls. Industry analysts expect energy storage deployment across the MISO footprint to increase substantially over the coming decade as utilities, independent power producers, and grid operators seek solutions that enhance reliability while supporting decarbonization efforts. For Spearmint Energy, the Midwater approval further strengthens its position as a leading developer of next-generation storage infrastructure.

SPEARMINT ENERGY Spearmint Energy secures Site Permit for 600 MWh Battery Energy Storage in MISO. July 17, 2026 Spearmint Energy ("Spearmint" or the "Company"), a next-generation energy company delivering stable, secure and cost-effective energy solutions to the grid through large-scale battery storage, today (July 16) announced that the Minnesota Public Utilities Commission ("PUC") has approved a Site Permit for the Midwater Energy Storage Project ("Midwater"), a 150 MW / 600 MWh standalone Battery Energy Storage System ("BESS") in Freeborn County, Minnesota. The approval marks a significant milestone for the project and advances Spearmint's efforts to enhance energy resilience and grid stability in the MISO region. Midwater will be sited on 10 to 20 acres of privately owned land adjacent to the Glenworth Substation off Minnesota Highway 65 in Freeborn County. The project is designed to support a more reliable, consistent and affordable energy supply. Andrew Waranch, Founder, President, and Chief Executive Officer of Spearmint, said, "We appreciate the commitment of the Minnesota Public Utilities Commission and staff in reviewing this critical infrastructure project. The Midwater site permit represents a meaningful investment in Southern Minnesota's energy future." "Battery energy storage systems play a critical role in strengthening grid reliability, storing energy when supply exceeds demand and delivering it back to the grid when needed most," said Peter Rood, Chief Development Officer of Spearmint Energy. "As electricity demand continues to grow, projects like Midwater provide flexible infrastructure that supports grid stability, enhances affordability, and enables the integration of diverse generation resources. We are pleased to have achieved this major milestone." Midwater is Spearmint's second project to advance through Minnesota's state permitting process, following the successful permitting of the Snowshoe Energy Storage Project in Olmsted County, which was the first stand-alone battery approved in the state. About Spearmint Energy Spearmint Energy is a leading company focused on developing, owning, operating, and optimizing battery energy storage systems ("BESS") to reduce grid volatility and increase system resiliency. Spearmint currently operates 350 MW/ 700 MWh in ERCOT with an additional 300 MW / 600 MWh under construction and has projects under development throughout the United States. Headquartered in Florida, with an additional office in Minnesota, the Company employs over 50 professionals and is guided by strong values rooted in people, partnerships, and the planet. For more information, please visit: https://www.spearmintenergy.com/ Media Amanda Shpiner / Deanna Spaulding Gasthalter & Co. (212) 257-4170 [email protected] Spearmint Energy