# TrailStone

TrailStone is an Asset Manager based in London, United Kingdom.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** London, United Kingdom
- **Region:** Europe
- **Address:** London, United Kingdom
- **Founded:** 2013
- **Assets under management:** Undisclosed
- **Website:** trailstonegroup.com

## Regulatory record

- **Reports private funds:** No

## About

TrailStone is an energy and technology company founded in 2013 in London, United Kingdom. It trades energy in global markets and provides services to manage renewable power generation intermittency. The company leverages proprietary technology, data analytics, and market expertise.

## Sectors

- Energy Transition & Renewables
- Infrastructure

## Offices

- Austin, TX, United States
- Berlin, Germany
- Düsseldorf, Germany

## People

- John Redpath — CEO & Co-Founder
- Richard Goble — Co-Founder

## Questions

### Who runs investment decisions at TrailStone?

Co-founders John Redpath and Richard Goble oversee all material risk-taking and capital allocation. Redpath, the CEO, ran Enron's European gas desk before co-founding TrailStone in 2013. The Austin and European trading desks operate with delegated risk limits but all large structured transactions require Redpath's or Goble's approval.

### How does TrailStone source proprietary deal flow?

Through physical infrastructure rights — pipeline capacity, gas storage leases, and transport agreements — that pure financial traders do not hold. TrailStone buys transport on underutilized pipelines, then originates supply contracts with producers who need market access. The firm also signs power-purchase agreements directly with renewable developers, building a bilateral contract book that bypasses exchange-based auctions.

### What is TrailStone's geographic footprint?

TrailStone operates actively across two continents. In Europe, the firm trades and transports gas and power across Germany, the Netherlands, and neighboring Benelux markets from desks in London, Berlin, and Düsseldorf. In North America, its Austin team focuses on Texas natural gas logistics, cross-border Mexican pipeline flows, and renewable power-purchase agreements.

### Which energy products does TrailStone trade?

Natural gas and power are the primary markets, plus environmental products including EU Allowances and renewable Guarantees of Origin. TrailStone also structures offtake contracts for wind and solar generation. The firm does not publicly report positions in crude oil or refined products, distinguishing it from broader commodity traders like Vitol or Trafigura.

### How is TrailStone related to TrailStone Renewables?

TrailStone Renewables operates as the structured origination arm of the TrailStone group, signing power-purchase agreements (PPAs) with wind and solar developers in Texas and Germany. It packages and hedges those contracts through the main TrailStone trading book. The brand is internal — it is not a separately capitalized entity.

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Last updated: 2026-06-03T20:00:00.000Z

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