Nexamp Acquires SolVera Energy
Nexamp also formed into two new business units, Renewable Energy Solutions and Clean Energy Advisory Services, which is focused on energy efficiency consulting services for commercial and industrial customers.
With the SolVera Energy acquisition, Nexamp has named John Malloy, Jr., former CEO of SolVera Energy, as co-CEO of Nexamp and a member of the board of directors.
Mr Malloy will head up Renewable Energy Solutions. Patrick Daly, former executive vice president and CFO of SolVera Energy, has joined Nexamp as CFO of Renewable Energy Solutions.
SolVera Energy brings to Nexamp broad expertise in energy project and technology developments, project and structured financing, marketing and trading, and asset management.
Prior to founding SolVera Energy, Mr Malloy was executive vice president at Verenium, a pioneering cellulosic ethanol clean-tech company. He also has served in executive leadership roles at Predictive Power, Edison Mission Energy, Citizens Power, Beacon Energy, and Wheelabrator Technologies.
Mr Daly was a managing director at Alouette Capital in Boston, managing director in investment banking at Deutsche Bank in New York, and prior to that worked for Lehman Brothers, Kidder Peabody, Merrill Lynch, and Drexel Burnham Lambert.
Stuart Patterson, co-CEO and board member of Nexamp, will head up the Clean Energy Advisory Services group.
Henri-Claude Bailly, board chairman and co-founder of Nexamp, said: â€œThe acquisition of SolVera Energy and realignment of Nexamp will enable us to address major growth opportunities in the energy marketplace by leveraging our core capabilities in renewable power and energy efficiency solutions.â€
Will the acquisition expands Nexamp renewable energy capabilities?
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