Eldridge Closes $375 Million Lease Facility with Atlas Energy Solutions Inc.
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behind-the-metertechnical
Equipment or systems located on a customer’s side of the electricity meter—such as rooftop solar panels, battery storage, electric vehicle chargers, or energy controls—that generate, store, or manage power for use on-site rather than being supplied through the utility’s grid. Investors care because behind-the-meter assets change how much power a customer buys, can create new revenue or savings streams, affect demand patterns, and shift regulatory or business models in the energy market, much like a homeowner installing their own water tank reduces municipal supply needs.
power-as-a-servicetechnical
Power-as-a-service is a business model where customers pay for delivered electricity, backup power or energy management as an ongoing service rather than buying and owning the equipment. Like leasing a car with maintenance included, it shifts upfront costs and operational headaches to a provider, while investors watch it because recurring service fees can create steady revenue, reduce customer churn, and expose companies to regulatory and energy-price risks.
asset-based creditfinancial
Asset-based credit is a loan or line of credit that is backed by a company’s tangible assets—like inventory, accounts receivable, equipment, or real estate—so the lender can use those assets as security if the borrower can’t repay. For investors, it matters because such financing can make a company more resilient during cash squeezes but also signals that the company may have weaker unsecured borrowing options; the claim on assets affects who gets paid first in trouble, similar to a mortgage on a house.
structured creditfinancial
Structured credit is a way of bundling many loans or debt claims together and slicing that bundle into pieces with different levels of risk and return, like cutting a cake into layers where the bottom slice takes most of the crumbs and the top slice stays neat. Investors buy these slices to chase higher income or to shift credit risk, so understanding which layer you own, how the loans behave together, and how easy the slice is to sell matters for potential return and loss.
asset-based transactionsfinancial
Asset-based transactions are deals where the value or use of physical or financial assets—like equipment, inventory, real estate, or receivables—is the main thing being bought, sold, borrowed against, or used as collateral. Think of it like using a house or car to secure a loan: investors care because these transactions change how much cash a company can raise, who gets paid first if things go wrong, and how risky future earnings and debt repayment appear on the balance sheet.
NEW YORK--(BUSINESS WIRE)--
Eldridge Capital Management (“Eldridge”) today announced the closing of a $375 million lease facility with Atlas Energy Solutions Inc. (NYSE: AESI) (“Atlas”). The facility will support Atlas’ acquisition of new behind-the-meter power generation assets, allowing for milestone payments during packaging and converting to a term solution upon asset delivery. The leased assets will broaden and diversify Atlas’ power generation capabilities, building on a robust platform established through its 2025 acquisition of Moser Energy Systems (“Moser”).
Atlas is a leading solutions provider to the energy industry, with offerings spanning oilfield logistics, distributed power systems, and the largest proppant supply network in the Permian Basin. The combination of Atlas’ completion business and Moser’s modular power capabilities creates an innovative, diversified energy solutions platform with a leading portfolio of proppant, logistics (including the Dune Express) and distributed power solutions.
“Our enduring relationship with Atlas exemplifies the long-term, value-driven partnerships we seek to build with our clients. Since 2018 our partnership has grown, grounded in the immense trust placed in Bud and John, a uniquely positioned asset, and our conviction in supporting market leading critical services providers,” said Kyle Parks, Managing Director at Eldridge Capital Management. “We have seen increasing calls for power and the grid’s inability to keep pace, and we believe this imbalance allows for a defensible market opportunity in behind-the-meter power-as-a-service. We are proud to support Atlas’ continued investment in its power strategy and look forward to our ongoing collaboration.”
Eldridge’s relationship with Atlas has expanded throughout the years from nominal equipment financing to multiple recapitalizations together with material lease facilities accommodating various strategic and transformational organic growth initiatives and acquisitions.
“Eldridge has been a key partner to Atlas since our very first equipment orders. Their ability to quickly assess opportunities and move nimbly to provide financing has been critical to our success,” said John Turner, CEO of Atlas. “As Atlas evolves to help our customers tackle the growing supply-demand imbalance in power generation, we are proud to have Eldridge continue to play a core role.”
Eldridge’s Diversified Credit Platform invests across a broad spectrum of asset-based credit, corporate credit, and structured credit. Eldridge’s asset-based credit strategy provides loans and leases secured by mission-critical, income-producing assets across a diverse set of industries and asset classes, including manufacturing, energy and power, maritime, chemicals, metals, technology, aircraft, and railcars. Since 2015, Eldridge has originated over $17 billion of asset-based transactions and today operates the largest private, independent equipment finance platform in North America by both assets and origination volume as of 2026.
About Eldridge
Eldridge is an asset management and insurance holding company with over $70 billion in assets under management that consists of two divisions: Eldridge Capital Management and Eldridge Wealth Solutions. Eldridge Capital Management, through its subsidiaries, focuses on four investment strategies – diversified credit, GP solutions, real estate credit, and sports & entertainment. Eldridge Wealth Solutions, an insurance and retirement solutions platform, is comprised of Eldridge’s wholly owned insurance companies, Security Benefit and Everly Life. Eldridge is wholly owned by Eldridge Industries. To learn more, visit www.eldridge.com.
About Atlas Energy Solutions Inc.
Atlas Energy Solutions Inc. (NYSE: AESI) is a leading solutions provider to the energy industry. Atlas’s portfolio of offerings includes oilfield logistics, distributed power systems, and the largest proppant supply network in the Permian Basin. With a focus on leveraging technology, automation, and remote operations to enhance efficiencies, Atlas is centered on a core mission of improving human access to the hydrocarbons that power our lives and, by doing so, maximizing value creation for our shareholders.
