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Alternative Assets  + Private Equity  + Real Assets  | 
Pelican Energy Partners Invests in AI-Based Software Provider

Pelican Energy Partners Invests in AI-Based Software Provider

Pelican Energy Partners, a Houston-based private equity firm focusing on investment in small to middle-market energy services and equipment companies in the oil and gas and nuclear industry, has made an investment in Blue Wave AI Labs LLC.

Financial terms of the transaction were not disclosed.

Founded in 2016, the West Lafayette, IN-based company is a software as a service (SaaS) business that develops and sells AI-based software to support the nuclear energy industry.

“In my opinion, they (Pelican) had the most insightful thesis about the growth forces driving nuclear, as well as the best strategy for helping and participating in this growth,” said Blue Wave Executive Vice President, Tom Gruenwald.

Pelican’s last announced deal was the acquisition of Iron Horse Tools, Inc., a provider of automated drilling chokes, from Bluehenge Capital Partners for an undisclosed amount.

Hirsch & Westheimer, P.C. acted as legal counsel to Pelican Energy Partners, and Nelson Mullins Riley & Scarborough LLP served as legal counsel to Blue Wave. Benchmark International acted as financial advisor to Blue Wave.

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Pelican Energy PartnersBlue Wave AI Labs LLC.

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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