Lime Rock New Energy Closes Fund II at $640 Million of Committed Capital

Fund II doubles in size compared to Lime Rock New Energy Fund I

New York, NY, April 22, 2026 (GLOBE NEWSWIRE) -- Lime Rock New Energy (“LRNE”) announced today the successful final close of Lime Rock New Energy Fund II (“Fund II,” or “the Fund”) with total commitments of $640 million. The Fund closed well above its $500 million target and just below its $650 million hard cap, representing a doubling of committed capital relative to Fund I. This strong result reflects robust investor interest in LRNE’s differentiated approach to investing in high growth energy transition companies that it believes are well positioned to take advantage of the macro trends driving decarbonization and energy security.

“We are tremendously grateful for the confidence our limited partners have placed in us,” said Mark Lewis, Managing Director of Lime Rock New Energy. “Closing Fund II at double the size of Fund I reflects their confidence in our team, our disciplined investment approach, and the compelling opportunity set we see across the energy transition landscape. We are excited to put this capital to work on behalf of our investors.”

Fund II attracted substantial interest from both existing and new investors, with nearly 90 percent of Fund I’s institutional limited partners reinvesting in Fund II. The Fund’s diversified limited partner base includes institutional asset managers, university endowments, and climate-focused family offices. The close also marked a meaningful expansion of LRNE’s global investor base, with approximately one-third of Fund II commitments coming from European and Asian institutions.

“We believe the breadth and quality of our investor base speaks to the growing institutional appetite for energy transition strategies grounded in deep sector expertise and rigorous underwriting,” said Blair Barlow, Managing Director of Lime Rock New Energy. “Our strong re-up rate is particularly meaningful to us—it reflects the trust our existing partners have in our ability to identify high quality growth companies and work with them to create value. We look forward to building on that track record with Fund II.”

“Lime Rock New Energy was founded on the conviction that economic and climate imperatives are driving a multi-decade energy transition,” said Mark McCall, Managing Director of Lime Rock New Energy. “Our strategy is to back companies that are facilitating and accelerating that transition. When those companies succeed financially, they create positive impact for the climate and the environment. Attracting increased institutional capital into this critically important space has been central to our firm’s mission from the start — and this successful Fund II close is a major milestone on the path toward achieving that mission.”

Fund II will continue LRNE’s strategy of investing in energy transition-focused companies that seek to offer compelling growth, financial performance, and meaningful climate impact.

About Lime Rock New Energy: Lime Rock New Energy is a growth-focused private equity partner for entrepreneurs and management teams building differentiated, innovative businesses across the energy transition. The firm invests in three areas central to that transition: products and services driving renewable energy and grid modernization; energy efficiency for industry and the built environment; and the decarbonization of transportation. Lime Rock New Energy works alongside its portfolio company leaders to support growth through capital, strategic and operational guidance, and the firm's deep network of relationships across the rapidly evolving energy landscape. The firm's approach is grounded in close, collaborative partnerships with the entrepreneurs and teams it backs, with a shared focus on building businesses that deliver strong financial performance and meaningful environmental impact. For more information, please visit www.lrnewenergy.com.

Jon Darnell Lime Rock New Energy 646-450-8045 jdarnell@lrnewenergy.com