CALGARY, AB, June 25, 2026 – TERIC Power Ltd. (“TERIC”), a leading Canadian developer, owner and operator of battery energy storage systems (“BESS”) and dispatchable generation assets, and ARC Financial Corp. (“ARC”), Canada’s largest energy-focused private equity manager, have announced that ARC has completed a strategic investment in TERIC to support the company’s next phase of growth and expansion. Along with ARC’s investment, TERIC welcomes Peter Christopher and Mike Law to the Board of Directors.
Investment Details and Strategic Rationale
The investment provides TERIC with additional capital and strategic resources to accelerate the development, construction and ownership of utility-scale battery energy storage projects across Canada. The transaction positions TERIC to capitalize on the rapidly growing demand for grid reliability, renewable integration, behind the fence load support and flexible energy infrastructure.
Founded in 2013, TERIC has been at the forefront of Canada’s energy storage industry and has played a leading role in the development of many of Alberta’s first utility-scale battery energy storage projects. The company has established a strong track record of originating, developing, and bringing operational approximately 135 MW of battery energy storage assets and is developing a growing pipeline of projects across Western Canada.
Executive and Investor Perspectives
“ARC’s investment marks a significant and exciting milestone for TERIC and validates the tremendous opportunity we see for energy storage across Canada,” said Kevin Gilbank, Co-Founder and Chief Executive Officer of TERIC. “As electricity systems evolve and demand for reliable, flexible power continues to increase, energy storage is becoming a foundational component of the modern grid. With ARC’s support, we are exceptionally well positioned to expand our platform, advance our development pipeline and continue delivering innovative solutions for utilities, commercial customers and electricity markets.”
The investment reflects ARC’s continued commitment to supporting high-quality management teams building critical energy infrastructure and advancing Canada’s energy transition. “TERIC has established itself as a pioneer and market leader in Canadian energy storage,” said Peter Christopher, Senior Vice President at ARC Financial. “The company’s proven development capabilities, deep market expertise and strong management team have created a differentiated platform with significant growth potential. We are excited to partner with Kevin and the entire TERIC team as they continue to build one of Canada’s leading energy storage businesses.”
Use of Proceeds and Future Outlook
Proceeds from the investment will be used to accelerate project development activities, support future project ownership opportunities, expand organizational capabilities and strengthen TERIC’s position as a leading independent energy storage platform. TERIC thanks Idea Well Capital Partners, an early backer of the company, whose investment helped establish TERIC as a leader in Canadian energy storage, as it realizes its investment through this transaction.
