Energy Spectrum Capital completed the acquisition of Coastal Caverns from Caliche Development Partners.

Energy Spectrum Capital, a private equity firm, completed the acquisition of Coastal Caverns, a natural gas liquids storage business, from Caliche Development Partners, an operator of underground hydrocarbon-storage facilities. Financial terms were not disclosed. This sale will enable the Houston-based company to concentrate on its low-carbon storage solutions in Jefferson County, on the Gulf Coast and beyond—from carbon sequestration to the subsurface storage of other industrial gases, like hydrogen, that support the energy transition.