PITTSBURGH, June 4, 2019 /PRNewswire/ -- Duquesne Light Holdings, Inc. (DLH), the parent company of Duquesne Light Company (DLC) and DQE Communications LLC, today announced the acquisition of the majority equity interest of TEN Inc., a provider of customized energy solutions for large businesses, governments, universities and hospital systems that enable those organizations to meet their energy efficiency and sustainability goals.
"We recognize the energy demands of business and institutional customers are becoming more complex," said Steve Malnight, President and CEO, DLH and DLC. "The investment in TEN will help us meet these customers' evolving energy needs as well as advance our efforts to create and support a more sustainable energy future for the region and beyond."
Headquartered in Pittsburgh, TEN has 35 employees who serve a diverse group of customers, with a significant concentration in western and central Pennsylvania. TEN's client list includes Carnegie Museums of Pittsburgh, the University of Pittsburgh, the cities of Cleveland, OH and Portland, ME, in addition to multiple projects for the Commonwealth of Pennsylvania's Energy Savings Program. TEN's CEO, Troy Geanopulos, and President and COO, Rob Campbell, will continue to lead the company and report directly to Malnight.
The acquisition provides DLH a platform for growth and expansion, with a focus on energy efficiency services, distributed generation projects, and smart street lighting and smart city solutions in Pennsylvania and elsewhere.
"We are thrilled to join the DLH portfolio of companies and become part of a team that will enable us to accelerate our growth, expand our market opportunities and meet our customers' expectations," said Geanopulos. "Our leadership team and employees are equally excited about this new venture and how it will allow us to expand our reach and help more companies and large organizations make the most of their energy dollars."
TEN is a provider of customized energy solutions for large businesses, governments, universities and hospital systems. TEN delivers a robust suite of fiscally sound, environmentally responsible energy efficiency, distributed generation and smart city products and services that exceed its customers' sustainability, financial and operational goals. Established in 2012, TEN is a subsidiary of Duquesne Light Holdings, Inc. Learn more at www.tensaves.com.
About Duquesne Light Holdings
Duquesne Light Holdings, Inc. is an energy services holding company formed in 1989 to serve as the holding company for Duquesne Light Company, a regulated electric public utility, and to engage in certain unregulated energy and related businesses. Duquesne Light Company was formed in 1912 and provides electric transmission and distribution services in Southwestern Pennsylvania, including the City of Pittsburgh. Duquesne Light Holdings, Inc. is a wholly owned subsidiary of DQE Holdings LLC, with principal executive offices located in Pittsburgh. In 2007, Duquesne Light Holdings, Inc. was acquired by a private equity consortium that owns all of the common equity of Duquesne Light Holding Inc.'s parent company, DQE Holdings LLC, and is represented on the Company's Board of Directors.
SOURCE Duquesne Light Holdings