HelioPower Acquires Greenzu To Strengthen Energy Finance Services
SAN FRANCISCO, Aug. 20, 2013 /PRNewswire/ -- HelioPower Inc, a leading energy solutions provider, announced today it acquired Greenzu Inc., a national expert in developing innovative solar finance solutions for commercial and non-profit customers. HelioPower is one of the top solar installers for small-mid size commercial solar systems. This acquisition allows HelioPower to ramp its growth in that market with better financing, streamlined transactions, and more cost-effective offerings for customers.
HelioPower is a uniquely diverse company offering Integrated Energy Solutions to industrial customers. It is one of the nation's most active solar installers of both residential and commercial solar systems. In recent years, HelioPower has seen tremendous demand for its services from mid-size commercial facilities. Yet, these customers consistently need financing for their projects, which has become challenging in the tightened credit market.
Greenzu, founded in 2010, focuses on solar financing solutions for commercial and non-profit facilities. The company developed a proprietary platform to streamline the rooftop project development process, reducing time and cost for customers. Greenzu also provides energy investment advisory services, such as fund structuring, economic modeling, and due diligence services.
"The acquisition of Greenzu broadens HelioPower's capabilities in the energy finance markets, bringing widely respected skills in structured finance and rooftop project development in-house to compliment our active commercial energy customer-base," says Ian Rogoff, Chairman of HelioPower.
HelioPower has long been a leader in energy project financing. In 2007 it launched Helio Micro-Utility to provide specialized finance services to energy investors, banks, and end-users. In 2008, Helio Micro-Utility developed a fund with CitiBank for solar projects. Greenzu's team will continue its mission of creating solar finance solutions as part of the Helio Micro-Utility business unit. Greenzu's co-founder, Amanda Holland, will lead Helio Micro-Utility's investment fund management, while its other co-founder, Brandon Conard, will become HelioPower's Chief Strategy Officer.
Mr. Conard explained, "Greenzu's team is proud to join Helio Micro-Utility's already impressive team, and its tradition of thought leadership in the energy investment space. We are excited that, through this acquisition, we'll be able to offer our clients access to HelioPower's advanced financial tools, leading system engineers, and top notch EPC services."
With 2,500,000 commercial and non-profit rooftops unable to obtain solar finance, the market opportunity for HelioPower is staggering. Together with Greenzu's capabilities, Helio Micro-Utility can offer these buildings a new, simple, turnkey way to slash energy bills with financing tailored around their business needs.
SOURCE HelioPower Inc