BOULDER’S REAL GOODS SOLAR MERGES
Real Goods Solar Inc., of Boulder, is teaming with Alteris Renewables Inc., a Wilton, Conn.-based renewable energy systems company, to form a solar integration firm that will do business in multiple states.
A portfolio company of Riverside Partners, Alteris operates under the formal company name Earth Friendly Energy Group Holdings LLC.
While the companies did not disclose the financial terms of the M&A deal, they did note in a press release that the combined companies could bring in almost $200 million in revenue in the first 12 months after the deal.
The newly formed company will combine management personnel from both firms, including new Real Goods Solar CEO Bill Yearsley, who will lead the company. Real Goods Solar President John Schaeffer will be president of residential, while Alteris’ Ron French will be named president of commercial.
The merger awaits Real Goods Solar shareholder approval.
COLORADO SPRINGS A TARGET FOR COMPANY MOVE?
The Colorado Springs area has lagged behind the rest of the Front Range when it comes to spurring renewable energy business, but now it is getting some attention from an unexpected source.
According to the Colorado Springs Gazette, a New Mexico company that produces a technology to turn heat into electricity is considering moving there or another city in the state.
Berken Energy produces thermovoltaic devices that capture heat from geothermal sources, waste heat from power plants or excess heat from solar panels and turns it into electricity. It uses a thin-film technology similar to what several Colorado companies are developing for use in solar panels. Using heat rather than light to generate energy allows Berken’s products to generate energy around the clock or to improve the efficiency of conventional solar panels.
Berken Energy is currently located in Roswell, N.M. Berken president Ken Newman confirmed via e-mail to the Gazette that he was looking at in-state locations, but didn’t provide details. A representative from the Colorado Springs Regional Economic Development Corp. said she couldn’t comment.
Newman was in Colorado Springs earlier this week, meeting with officials and looking at several properties.