Power

Cyberlux acquires HAVAS Grp. to launch renewables in South America

Cyberlux

Cyberlux Corporation, an advanced technology platform company, announced that it acquired the Colombian company HAVAS Group this Friday. The acquisition would launch Cyberlux renewable infrastructure capability platform in South America.

Firstly, Cyberlux expects that the acquisition in South America prepares the ground to grow its renewable infrastructure business (IT). It will focus on developing technology like solar, wind, and hydroelectric infrastructure projects. The expansion plans also include a jump to Europe by 2022.

On the other hand, HAVAS Group is a renewable energy financing company located in Bogotá, Colombia. It specializes in renewable energy project financing and implementation. After the acquisition, the company will have its headquarters with the Cyberlux South American office located in Bogotá.

Moreover, as part of the acquisition, HAVAS Group will bring the rights to three projects with over 100 hectares of renewable energy property, which Cyberlux will implement through its IT business. Consequently, the addition of HAVAS to Cyberlux indeed expands its renewable infrastructure capability.

Therefore, the company expects to achieve sustainable growth in revenue, profit, and shareholder value; specifically, by implementing the three current projects and the future planned renewable energy projects.

Also recommended for you: Globant reaches carbon neutrality after renewable purchases. Click here to read.

Cyberlux aims at sustained growth over the next few years

In addition, according to the statement, once built, the locations will generate over 100MW of electric power and over $6 million in annual revenue in 2022. The company intends to further scale its renewable capacity in South America by 2024 to over $30 million. It targets Guatemala, Ecuador, and Panama next.

On the other hand, the acquisition included both shares of common stock valued at $0.05, $0.10, and $0.25, and a cash component paid out over a one-year earnout period. About the acquisition, CEO Mark Schmidt stated. “The acquisition of HAVAS Group is the launching point we’ve been waiting for in our South American renewable energy drive, as detailed in our Operations Alpha roadmap.”

He also commented. “With the technology foundation of our strategic Wolfspeed technology supply, including our implementation of the world’s best inverters and 5G technology, we expect to deploy the most efficient, most advanced solar capability available as well.”

Finally, he underlined. “we fully expect the Cyberlux ITS business to grow to more than $13 million in revenue in 2022, $20 million in 2023, and well over $50 million in 2025.”

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