A new company called Merge Electric Fleet Solutions has launched to assist fleet operators on the path to electrification.
Houston-based energy asset management and consulting firm Pickering Energy Partners announced the launch on May 3. The firm will work with fleet operators to provide electrification and financial expertise to make the electrification process affordable and scalable, Merge said.
The Merge team combines the energy finance expertise of Pickering Energy Partners along with leadership in the electric vehicle space. The new company is headed up by CEO Glen Stancil, who brings 10 years of experience in the electrification field and 20 years of power industry expertise. Stencil previously co-founded electric vehicle charging network EVgo, which operates more than 800 fast-charging stations across 34 states. Prior to his time with EVgo, Stancil held strategic, advisory and operational roles in the energy sector with Houston- and New Jersey-based NRG Energy (NYSE: NRG), Houston-based Reliant Energy and consultancy McKinsey & Co., which also has a significant Houston presence.
“Merge is aimed at the large and growing opportunity in fleet electrification — an opportunity recently created by the convergence of fleet-capable vehicle availability, corporate (environmental, social and governance) pressures, and regulatory tailwinds,” Stancil said. “Electrification of business fleets presents a strong and sustainable business case with an attractive bottom line. Merge is well-positioned to deliver the critical services that help fleet operators capture that opportunity.”
The Merge leadership team also includes Malcolm McVay, vice president of operations; David Eckels, vice president of products; and Jason Buckland, vice president of business development, who bring over three decades of combined experience in electric vehicle charging infrastructure. The Merge principals have deployed large-scale EV charging infrastructure projects on behalf of government entities, automakers, public charging networks and fleets.
"Merge will provide sought-after partner support and financing that previously hasn’t been available for fleet operators across industries," said Dan Pickering, chief investment officer at Pickering Energy Partners. "At Pickering Energy Partners, we help our clients position for the future, and we’re looking forward to bringing the Merge team’s expertise to our clients in the energy sector and beyond. Focusing on fleet vehicles and leveraging a best-in-class team of infrastructure experts will place our clients at the forefront of innovation and the energy transition."
Separately, Pickering Energy Partners closed a merger with San Francisco-based SailingStone Capital Partners LLC in late 2020. Pickering said the acquisition was about adding scale and breadth of expertise to the combined firm. Pickering Energy Partners is still the corporate entity after the deal, but SailingStone funds will continue to operate under the SailingStone name.
Pickering spun his firm out of Houston-based investment bank Tudor, Pickering, Holt and Co. back in 2019.
