New CCO to lead contracted offtake for 3+ GW of energy storage to supply utilities, data centers, and power retailers

GridStor, a Goldman Sachs Asset Management-backed developer and operator of utility-scale battery energy storage systems, announced today that Lance Titus has been appointed as the company’s chief commercial officer (CCO). Titus brings more than 30 years of experience in commodities trading, origination, structuring, and risk management to the GridStor executive team, with extensive knowledge of electricity and other commodities sectors. Prior to joining GridStor, Titus founded several energy trading platforms and concluded over $20 billion in transactions, including contracted offtake of over 4 GWs of power supply. He most recently served as Senior Managing Director and Head of New Energies, Americas, at Uniper Global Commodities.

“With Lance joining as CCO, GridStor’s next phase of corporate growth has arrived,” said Judith Johansen, past CEO of Pacificorp, past Administrator of the Bonneville Power Administration, and member of GridStor’s Board of Directors. “His decades of success in supplying power and other commodities to utilities and industrial customers completes GridStor’s full-stack capability as an independent power producer. The Board of Directors is pleased to welcome him to the executive leadership of the company.”

As CCO, Titus will oversee GridStor’s power marketing and origination, trading, and market analytics functions, including risk management. He will lead the development and execution of the company’s revenue-generating strategy associated with GridStor’s portfolio of more than 3 GW of battery energy storage projects in later-stage development, under construction, and already operating.

“Lance’s demonstrated performance in power marketing and trading over multiple decades will be instrumental in GridStor’s success,” said Chris Taylor, Chief Executive Officer of GridStor. “His deep industry knowledge further differentiates us as a trusted partner and diligent provider of energy storage solutions for utilities, data centers, and power retailing customers across North America.”

Titus holds an M.B.A. from the University of Denver's Daniels College of Business, B.S. degrees in Finance and Marketing, and has completed post-graduate studies at Harvard Business School and the University of Chicago Booth School of Business. He also serves on the University of Colorado's J.P. Morgan Center for Commodities Advisory Council, and the Advisory Board for the Commodity Insights Digest at Bayes Business School, University of London.

“GridStor is well positioned to deliver competitively priced new capacity to utilities and large power users, and recent federal legislation has only reinforced our confidence,” said Titus. “Credibility is the key to successful commercial transactions, and our proven track record in deal execution and project delivery, as well as our strong financial backing from Goldman Sachs Asset Management, positions us as a compelling, creative, and agile counterparty. I look forward to engaging with customers on how this critical resource will serve their needs and enable us to bring more battery energy storage capacity to power systems across North America, creating a reliable basis for our country’s continued economic expansion and improving energy resiliency.”

About GridStor

GridStor strengthens America’s power system reliability by building and operating battery projects, storing electricity to deliver when and where it’s most needed. GridStor develops, acquires, and operates utility-scale, standalone battery storage projects primarily across North America. Visit us at www.gridstor.com and on LinkedIn.

About Goldman Sachs Asset Management

Goldman Sachs Asset Management is the primary investing area within Goldman Sachs (NYSE: GS), delivering investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals.

The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.

Goldman Sachs Asset Management is a leading investor across fixed income, liquidity, equity, alternatives and multi-asset solutions. Goldman Sachs oversees approximately $3.1 trillion in assets under supervision as of September 30, 2024. Follow us on LinkedIn.

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