Maxwell Power Moves its Headquarters to Utah from California and Secures Another $800 Million for Solar and Battery Projects

EXECUTIVE SUMMARY

✅ Maxwell Power, a distributed-energy financing and ownership company, has moved its corporate headquarters to Salt Lake City from San Diego while simultaneously closing another $800 million investment commitment from San Francisco, California-based Fairtide Partners for solar and battery-storage projects originated by Maxwell.

✅ The new commitment follows $250 million from Fairtide in 2024 and another $750 million in June 2026, bringing Fairtide's cumulative commitment to Maxwell-developed projects to $1.8 billion.

✅ The new $800 million is committed to purchasing battery-storage and solar-power projects developed by Maxwell, not a conventional $800 million equity investment directly into Maxwell itself.

✅ For its part, Maxwell says it has invested more than $1.5 billion in customer energy projects since 2018, up from more than $1 billion it reported just four months ago.

✅ Maxwell says the headquarters relocation fulfills a "promise" to U.S. Sen. John Curtis (R-UT), although neither the company nor the Senator has publicly explained when that commitment was made or what role, if any, Senator Curtis played in Maxwell's decision to move to Utah.

SALT LAKE CITY and SAN DIEGO, California — 5 October 2026 — An energy-financing company backed by billions of dollars of institutional capital has moved its headquarters to Salt Lake City, Utah from San Diego, California, while (at the same time) announcing it has secured another $800 million of committed capital for solar and battery-storage projects.

Maxwell Power, formerly known as HDM Renewable Finance, announced Thursday that it has closed an additional $800 million investment commitment from Fairtide Partners to purchase battery-storage and solar-power projects originated by Maxwell.

The transaction brings Fairtide's cumulative commitment to Maxwell-developed projects to $1.8 billion, following an initial $250 million commitment in 2024 and another $750 million announced four months ago on 01 June 2026.

But buried deeper in Maxwell's announcement was a second development that is particularly significant to Utah, namely

Maxwell has relocated its corporate headquarters to Salt Lake City from San Diego.

$1.8 Billion, But Not a Conventional Funding Round

I believe the distinction between Maxwell and the projects it finances is important.

In its news release, Maxwell did not describe Fairtide's latest $800 million commitment as a conventional corporate-equity investment.

Instead, Maxwell said the capital is committed to purchasing battery-storage and solar-power projects developed by the company, continuing an investment relationship between Fairtide and Maxwell dating to Maxwell's founding in 2018.

In its June announcement, Maxwell announced that Fairtide committed another $750 million to finance Maxwell-developed projects, pushing its cumulative commitment beyond $1 billion at the time.

Contextually, Maxwell deploys, monitors, and maintains distributed solar and battery-storage systems for homeowners and small commercial customers, and its customers purchase the electricity through long-term contracts with Maxwell rather than
🟣 Buying solar/battery systems themselves, or
🟣 Continuing to purchase electricity from traditional electricity generating companies.

Maxwell says that since its launch the company has invested over $1.5 billion in customer projects and generated an estimated $300 million in customer savings in the process.

{AUTHOR'S NOTE: Those numbers are up significantly since 01 June 2026 when Maxwell said it had invested more than $1 billion in customer projects and generated $200 million in customer savings. Yes, those are 33% and 50% increases, respectively, in just over three months.}

Additionally, its website shows that its "Track Record" is "20,000+ homes," which I presume means that's how many residential customers Maxwell has today.

However, whether that is current information or not is now clear as the Maxwell website is fairly spartan. Its LinkedIn profile too.

To Utah from California

To be clear, the precise date of Maxwell's headquarters relocation has not been disclosed.

The most recent publicly disclosed data was a federal trademark application filed 20 June 2026 by HDM Capital LLC (the legal entity behind the Maxwell Power trademark), which (as of that date) listed a San Diego address.

But last Thursday's announcement from Maxwell is primarily about the company's relocation to Utah from California.

However, how many Maxwell employees
🔷  Currently work in Utah,
🔷  Are expected to move to Utah, or
🔷  How many many additional Utah employees it expects to hire in the state ...
none of these questions have been addressed by Maxwell yet.

A "Promise" to Sen. John Curtis, (R-UT)

Maxwell also attached an unusual explanation to its headquarters relocation as noted in this unattributed quote in last week's news release:

"Fulfilling its promise to U.S. Senator John Curtis (R-Utah), who is a champion of affordable domestic renewable energy, Maxwell relocated its headquarters to Salt Lake City, UT from San Diego, CA."

However, what Maxwell did not explain was
🟢  When was that promise made?
🟢  Between or among whom?
🟢  What Sen. Curtis' involvement is (or was) with Maxwell?
🟢  Or, to be honest, why the company ultimately selected Utah for its headquarters?

Attempts to get answers to these questions, and others, from Maxwell, Senator Curtis' office, or both have been unsuccessful thus far.

Regardless, Utah is now home to another emerging energy company — Maxwell Power — one that sits at the intersection of
🟥  Distributed solar power (either residential or small business), and
🟥  Battery storage, and
🟥  Project finance, and
🟥  Asset ownership/management, which has led Maxwell to
🔺 Over $1.8 billion in committed capital (including the most recently committed $800 million), plus
🔺 Over $1.5 billion invested thus far in customer projects, and
🔺 Over $300 million in customer savings.

How much more has Maxwell raised beyond the stated $1.8 billion from Fairfield?

I do not know.

But my sneaking suspicion is that more has been brought into the Maxwell Powers bank accounts as equity, debt, or other funding mechanisms, but for now, that's just an inkling on my part.

Regardless, welcome to Utah, Team Maxwell.

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