Japan-based financial services company ORIX acquired 80 percent of the outstanding shares of building energy management service company Enovity.
Established in 2002, Enovity provides energy-focused and technology-driven services to new and existing buildings. Services include energy management, building automation, commissioning, facility operations and maintenance. The San Francisco-based firm works with publicly-owned facilities, energy utilities, multinational corporations and commercial properties. Enovity’s core operating area is California.
In Japan, ORIX is expanding into the energy saving business as well as electric power trading and power generation using renewable energy such as solar, geothermal and wood chip biomass. ORIX intends to expand its energy related businesses in Asia where high demand is expected along with the growing economies in the region, as it has done so with the capital participation in the Philippines energy services company Global Business Power in June 2013.
In addition to supporting the expansion of Enovity in Asia by leveraging its Asian business network, ORIX also aims to expand Enovity in the US.