In 2017, Anbaric® and Ontario Teachers’ Pension Plan (OTPP) came together to form Anbaric Development Partners (ADP), a Boston-based company that specializes in early stage development of large-scale electric transmission systems, the transformation of the electric and heating/cooling systems on campuses and storage solutions surrounding microgrid projects. Anbaric is committed to early stage and brownfield developments which are projected to produce $2 billion in fully constructed assets.
While the partnership with OTTP did not come about until 2017, Anbaric was founded in 2004 by Edward N. Krapels after working for several years on the innovative Neptune high-voltage direct current transmission project under the auspices of Energy Security Analysis, Inc. The Anbaric name was derived from a book by Philip Pullman titled, The Golden Compass. In the book Pullman depicted an alternative universe that runs on something called anbaric energy. Additionally, anbar is an Arabic word for amber, which was associated with static and other early forms of observed electricity in ancient times.
The goal of Anbaric was to concentrate on project development in the electric power industry. The Neptune project was a huge success and remains in service today providing 20 percent of the electricity of Long Island from the neighboring PJM power market. After Neptune, Anbaric also became a founding member of the consortiums that established the Hudson HVDC project that connects PJM to downtown Manhattan, as well as Viridity Energy, an early entrant in the massively disruptive microgrid industry. From 2010 to 2016, Anbaric partnered with Exelon on several other large transmission and microgrid initiatives in New York, and with National Grid on two large transmission projects in New England.