January 19, 2026
January 20, 2026, Golden Colorado — Liminal Energy (“Liminal”) today announced that it has secured capital commitments from private equity investor NGP alongside contributions from Liminal’s management team.
Liminal is a recently-formed developer, operator and investor in utility scale energy storage projects. The company is led by a team comprised of seasoned executives who have developed, financed, and operated over 3 GWh of energy storage projects at firms including Goldman Sachs Asset Management, National Grid Renewables, UBS Asset Management, and MN8 Energy.
Liminal partners with developers and capital providers to build, operate and own grid-scale energy storage through an integrated, accountable approach grounded in real-world execution.
Liminal CEO Mark Saunders was Co-Head of Energy Storage at UBS Asset Management and previously led the energy storage team at Goldman Sachs Renewable Power (GSRP) and says, “Energy storage is an emerging asset class poised for long-term growth as it is required to support the rapid growth of the modern grid and enables the continued expansion of sustainable energy. The Liminal team’s experience combined with the dedicated and sophisticated capital provided by NGP delivers a unique approach that leads to successful projects, long-term performance and aligned outcomes for our partners.”
Ken-Ichi Hino, Liminal’s President, says “We have seen how much coordination energy storage projects require across development, offtake, financing, and operations. Liminal’s tailored approach provides our partners and projects with the solutions needed to maximize the value of energy storage investments.” Hino was previously Co-Head of Energy Storage at UBS Asset Management and led energy storage for National Grid Renewables.
Sam Stoutner, Partner and Co-Head of Energy Transition at NGP, noted, “Having backed hundreds of energy companies in the US over more than 30 years, we believe the opportunity set for a sophisticated and focused energy storage development effort is compelling. NGP has searched extensively for three years to find the right energy storage team to back, and Liminal’s differentiated approach characterized by creativity, flexibility and risk-return first principles was a perfect fit for NGP.”
About Liminal
Liminal Energy is an investor, developer and operator specializing in grid-scale energy storage projects. Drawing on a collective 80+ years of deep experience and over 3 GWh developed, financed, built, and operated, they integrate technical design, capital structuring, and execution into a single accountable, tailored approach. For more information, see www.LiminalEnergy.co
About NGP
NGP is a premier private equity firm that believes energy is essential to progress. Founded in 1988, NGP is moving energy forward by investing in innovation and empowering energy entrepreneurs in natural resources and energy transition. With over $25 billion of cumulative equity commitments, we back portfolio companies focused on responsibly solving and securing the energy needs of today and leading the way to a cleaner, more reliable, more affordable energy future. For more information, visit www.ngpenergy.com.
Media Contact
Mark Saunders: [email protected]