Catalyst Power Holdings, a provider of clean energy solutions for the commercial and industrial sector, acquired the assets of Northeast Expense Reduction Services, a New York-based energy advisor.
According to the company, the acquisition will help deepen Catalyst Power’s role in Central and Western New York State’s energy transition, allowing it to expand the objective of helping its commercial and industrial customers to decarbonize their electricity consumption.
“This is a tremendous fit. We’re excited to be able to expand the mix of commercial and industrial customers that can now have access to Catalyst Power’s decarbonizing solutions,” said Gabriel Phillips, CEO of Catalyst Power Holdings. “The middle market has been underserved for too long – by combining Northeast Expense Reduction Services’ territories, customers and supplier relationships with our novel energy supply options including community solar products and proprietary Connected Microgrid solutions, we are expanding access for our customers to more environmentally friendly, money saving energy supply options.”
Catalyst Power develops energy supply solutions for commercial and industrial companies, focusing on Connected Microgrids, a no-up-front-cost custom solution using onsite solar panels and backup generators, as well as retail power and gas supply. They utilize a proprietary technology platform that provides a fresh perspective on data to identify, underwrite, fund, and provide solutions to customers.
“New York’s C&I sector is getting hit by rising energy bills driven by volatile fossil fuel prices–and the clean energy solutions offered by Catalyst Power offer a reliable, cost-saving solution for these businesses. The team at Catalyst Power is fantastic and provides a wide range of clean energy solutions that can help small and mid-sized businesses,” said Clark Taylor, founder of Northeast Expense Reduction Services.
According to Mercom’s 1H and Q2 2022 Funding and M&A Report for Storage, Grid & Efficiency, In the first half of 2022, there were no M&A transactions for Energy Efficiency. In 1H 2021, one disclosed M&A transaction for $300 million was announced.