UL | May 18, 2021
UL, the global safety science leader and one of the world's leading advisors on the development, assessment, and optimization of renewable energy ventures, announced today the acquisition of the proprietary software platform and related assets of solar analytics company Clear Sky Analytics. Ajay Saproo and John Corson, co-founders of Clear Sky Analytics, will also join UL.
The proprietary software platform analyses the performance of solar assets and offers prescriptive insights. This acquisition broadens UL's solar offerings and strengthens its overall solar and wind renewables expertise, which includes consulting services through the project life cycle and supply chain, from due diligence to project development, certification, testing and evaluation, asset management, and reporting.
Clear Sky Analytics, founded by solar industry veterans Ajay Saproo and John Corson, specializes in distilling and interpreting operating PV solar plant data to maximize efficiency through actionable insights. Clear Sky Analytics' proprietary software platform combines data quality management, performance optimization, and analysis algorithms to create a complete and detailed accounting of energy produced and energy wasted due to specific reasons.
The Clear Sky Analytics platform acquisition expands UL's existing comprehensive portfolio of independent technical advisory, testing, inspection, certification, and software services to the solar energy industry. These services are intended to assist stakeholders such as developers, investors, financiers, owners, operators, utilities, grid managers, and policymakers in understanding the complexities of solar energy production and the ability to produce clean, renewable energy. They support all phases of the project life cycle, including feasibility, planning, design, construction, financing, investment, operations, and maintenance.
Since its launch in March 2017, Clear Sky has provided development and operational insight for over 150 solar projects across a wide range of geographies and designs. This includes Clear Sky and UL collaborations. Engagements have included UL consulting and laboratory and field inspection facilities along with Clear Sky's plant performance data analysis, resulting in optimized solar plant performance and significant operator cost savings.
The deal was completed on May 17, 2021. The acquisition's terms were not disclosed.
UL is the global leader in safety science. It provides testing, inspection, and certification (TIC), training and consulting services, risk management solutions, and essential business insights to its customers in over 100 countries, assisting them in achieving their safety, security, and sustainability objectives. The deep product experience and expertise through supply chains make it the go-to partner for customers facing complex challenges.
About Clear Sky Analytics
Clear Sky Analytics, a privately held company, distills and interprets efficiency data to provide actionable insight as a service to enhance the assessment and optimization of operating solar plants. Its proprietary software combines data quality enhancement, performance analysis, and analysis algorithms to provide a detailed and quantitative accounting of energy production and losses due to specific causes.
Exide Technologies | September 03, 2020
Exide Technologies (www.exide.com), a leading provider of stored electrical energy solutions, is expanding its product offer with the new GNB Marathon FTX range. The advanced AGM batteries are ideal for telecom and electric utility applications in good-grid environments, and offer exceptional reliability and performance at high temperatures. With its unique features, Marathon FTX is ideally suited to support 5G and progressive network densification.
Impact Power Solutions | March 04, 2022
Impact Power Solutions (IPS Solar) announced on Thursday it was being acquired by New Energy Equity LLC. On March 2, ALLETE, Inc. announced it is acquiring New Energy Equity, which includes IPS Solar for $165.5 million. IPS Solar will retain its branding and corporate headquarters in Roseville, Minnesota.
The IPS team is excited to join New Energy Equity and the ALLETE family of companies. The shared vision of positively impacting the world with solar energy will ensure that our combined venture will enjoy tremendous success."
Jamie Borell, CEO of IPS Solar
IPS Solar is one of the country's longest standing solar companies, having been founded by Ralph Jacobson in 1991. Jacobson remarked "I am thrilled to have the team that we have grown for thirty years now join the family of Allete companies. Together we will have the expanded resources and experience base to be at the forefront of building the world we all want for our children."
Chief Development Officer and co-owner of IPS Solar Eric Pasi added "We are set to enter a new phase of growth. This partnership will allow our companies to dramatically expand the work we've already started, increasing access to clean energy for all Americans."
New Energy Equity and ALLETE expect the purchase to close in mid-April upon satisfaction of customary closing conditions, including compliance with Hart-Scott-Rodino antitrust clearing requirements.
About ALLETE, Inc.
ALLETE, Inc. is an energy company headquartered in Duluth, Minnesota. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth; and BNI Energy in Bismarck, N.D.; and has an eight percent equity interest in the American Transmission Co.
About New Energy Equity
Founded in 2013 and headquartered in Annapolis, Maryland, New Energy Equity develops and finances solar power generation assets, providing clean electricity to commercial, industrial, municipal and utility customers under long-term contracts. New Energy Equity has successfully developed over 300MW of solar projects and closed more than $600MM in clean energy investments. The company was ranked as the 7th Top Solar Developer and the 8th Top Solar Contractor on Solar Power World's "2021 Top Solar Contractors" list and was voted as one of the fastest-growing energy companies in D.C., Maryland, and Virginia by Inc. Magazine.
About Impact Power Solutions
Impact Power Solutions, LLC is a full-service clean energy development company. For more than 30 years, they have worked to deliver customers solutions ranging from rooftop installations to multi-megawatt community solar gardens. IPS has been recognized as a Solar Power World Top Solar Contractor every year since the list's inception in 2013. To date the company has helped to energize nearly 200 MW of solar across the country. The company's purpose is, and always will be, to positively impact people, power and the planet with solar energy.