Hanwha Energy USA Subsidiary Expands Retail Electricity Business in PJM

Acquisition of Powervine Energy establishes a multi-brand retail platform serving customers across competitive PJM markets

HOUSTON--(BUSINESS WIRE)--174 Power Global Retail Corporation, a wholly owned subsidiary of Hanwha Energy USA Holdings Corporation, today announced its entry into competitive retail electricity markets within the PJM region.

174 Power Global Retail Corporation, which operates Chariot Energy and Pumpjack Power in Texas, has acquired Powervine Energy, LLC and Powervine Energy MD, LLC. Subject to applicable state licensing and regulatory requirements, the company will market and sell retail electricity under the Chariot Energy Northeast and Powervine Energy brands. Product availability, pricing and contract terms will vary by state.

The expansion positions 174 Power Global Retail Corporation to serve residential, commercial and industrial electricity customers through licensed brokers, consultants and energy aggregators, as permitted under applicable state law.

“Our entry into PJM is an important step in building a broader retail electricity platform capable of serving customers across key U.S. markets,” said In Kyu Park, chief executive officer of 174 Power Global Retail Corporation.

Chariot Energy offers retail electricity products designed around transparent pricing, flexible options and a customer-focused experience. For larger energy users, the company supports customized electricity supply agreements, including fixed-price, index-based and structured products. It also provides tailored billing solutions for complex operations such as manufacturing facilities, data centers and other energy-intensive businesses.

“This expansion supports our strategy to build a stronger multi-brand retail electricity platform across competitive U.S. markets,” said Mohsin Khoja, chief operating officer of 174 Power Global Retail Corporation. “We will continue evaluating organic growth and acquisition opportunities in PJM and ERCOT that broaden our reach, strengthen our capabilities and create long-term value.”

174 Power Global Retail Corporation is the retail arm of Hanwha Energy USA, which supports companies across retail electricity, renewable energy, storage, power infrastructure, data center infrastructure and integrated energy solutions. Hanwha Energy USA is backed by Hanwha Group, a Fortune Global 500 company headquartered in South Korea.

About 174 Power Global Retail Corp

174 Power Global Retail Corporation, a subsidiary of Hanwha Energy USA Holdings Corporation and operator of Chariot Energy and Pumpjack Power, is a Texas-based retail electricity provider serving customers in Texas and competitive electricity markets within the ERCOT and PJM Interconnection region. The company delivers competitive retail electricity products and customer-focused solutions, supported by Hanwha’s global capabilities in energy development, manufacturing, operations and customer service.

www.chariotenergy.com

About Hanwha Energy USA

Hanwha Energy USA Holdings Corporation is the U.S. subsidiary which serves as the investment and incubation platform for Hanwha Energy. The company develops and delivers integrated energy and power infrastructure solutions, including renewable energy, energy storage, gas-fired power generation, data center infrastructure and retail electricity businesses, supporting innovative and reliable energy systems across the United States.

www.hanwhaenergyusa.com