Catalyze, a commercial and industrial power producer, announced this Friday it acquired Sol Alliance. It is a Northeast solar sales and development firm whose team has a 15-year track record and completed over 3,000 projects. The deal strengthens Catalyze portfolio as it will bring a pipeline exceeding 80 megawatts.
In addition, the acquisition will further position Catalyze to seize opportunities in key U.S. markets, especially in New York and New Jersey. Specifically, Sol Alliance has more than 40 years of combined engineering, procurement, construction, and solar development experience.
The company’s solutions have attended the Midwest, Northeast, Mid-Atlantic, Southeast, and Puerto Rico. As part of the acquisition, Sol Alliance’s members Stephen Owen, Jared Haines; and also Vice President of Operations Matthew Effler, will join the Catalyze team.
At the same time, as part of the transaction, Sol Alliance will gain access to Catalyze’s origination-to-operations software integration platform, REenergyze. As well as to the company’s proprietary rooftop solar panel mounting technology, SolarStrap.
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Catalyze builds up on acquisitions and strategic partnerships
Moreover, Sol Alliance will gain battery storage and integration expertise; a strong supply chain; committed project capital, tax equity partners, and shared services.
About the deal, Catalyze Chief Executive Officer Steve Luker said. “We’ve been successfully partnering with Sol Alliance for over a year on project development and acquisition and have experienced firsthand the team’s ability to deliver projects from conception to installation with speed and certainty while maintaining the highest quality standards.”
He also remarked that the acquisition would expand the company’s growth in key markets of the U.S. In fact, Sol Alliance’s acquisition follows a previously announced integration of award-winning solar developer and installer PermaCity. Plus, battery storage provider Prisma Energy Solutions earlier this year.
On the other hand, Sol Alliance Partner Stephen Owen said. “Throughout our relationship, Catalyze has been a strong resource, allowing us to increase our effectiveness and efficiency. With our respective customer success strategies aligned and a shared priority on cutting-edge technology, we are confident that we will have even greater joint successes during this pivotal time in the world’s energy transition.”