Deals: Ameresco Buys Ennovate; Panasonic Allies with Power-One
Ameresco has completed the purchase of substantially all of the assets of Ennovate Corporation, an energy service company active throughout Colorado, Nebraska, Montana and Wyoming.
Terms of the transaction were not disclosed. Ennovate’s customers include education facilities, municipalities and counties.
Ennovate will introduce its building commissioning and engineering services to Ameresco’s customers; and Ameresco will offer its renewable energy services to Ennovate’s customers as well as other services including energy efficiency, energy savings performance contracts, energy supply and risk management, energy infrastructure services, carbon management, and data and invoice management platforms.
Ennovate President Jeff Schuster will join Ameresco’s Central Region as vice president of the newly combined Ameresco/Ennovate Regional Office at the current Ennovate location in Aurora, Colo. Ennovate’s employees will join Ameresco’s current workforce of more than 900.
In other deal-related news, Panasonic Corporation has entered into a strategic alliance with Power-One. The agreement aims for the global promotion of stationary power storage systems, and the two companies have agreed to jointly develop the business of non-residential, large-scale power inverters in Japan.
Panasonic’s strengths lie in the development and production of lithium-ion battery cells, which are vital for power storage systems. Meanwhile, Power-One designs and manufactures inverters used for solar power systems globally with operations in North America, Europe and Asia. Power-One markets its inverters for residential, commercial and utility-scale applications.
Power inverters are one of the core components of stationary power storage systems, which have been gaining a lot of attention for their ability to reduce investment required in equipment through power leveling and cutting peak power consumption in the large scale installation of renewable energy systems, as well for their use as backup power supplies in the event of earthquakes or other disasters.
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