LAS VEGAS, July 16, 2019 /PRNewswire/ -- Pegasus Group Holdings, a technology infrastructure company specializing in renewable energy projects, today announced the acquisition of Plus Minus Power, a leader in renewable energy operations. Plus Minus Power provides a range of services that create, manage, maintain and monetize products that focus on reducing grid dependency and maximizing renewable energy self-consumption.
Plus Minus Power is now a wholly-owned subsidiary of Pegasus Group Holdings. Dan Briggs, President and CEO of Plus Minus Power, has now taken on the additional position of President and CEO of Pegasus Group Holdings.
The acquisition of Plus Minus Power will allow Pegasus Group Holdings to increase their operational capabilities as they endeavor to build the largest solar powered data center in the United States. The new $3 billion dollar off-grid, renewable energy data center, which will be operational in the fall of 2019, sits on 717 acres in Kingman, Arizona. The facility will produce approximately 340 megawatts and will consume nearly all of the power onsite in its data center functionality. Pegasus is currently expanding its operations with plans to provide clean, renewable energy for a myriad of new and creative projects around the globe.
M. Alberto Ramirez, partner and Pegasus Group Holdings Board Member said, "I couldn't be more excited with the talent and experience we are adding to Pegasus Group Holdings through the acquisition of Plus Minus Power. Their capabilities strengthen and extend the services offered by Pegasus Group and enhance our complete renewable energy solutions approach. I have gotten to know Dan Briggs and his team over these last few months and I have total confidence in the Plus Minus Power team's ability to continue the evolution of Pegasus Group Holdings as a global player in the energy sector."
Michael Evers, a fellow partner and Pegasus Group Holdings Board Member said, "This acquisition raises the bar on Pegasus Group Holdings by taking its operational capabilities to the next level." Evers continues, "Plus Minus Power's assets, including its people, make the new Pegasus Group Holdings a contender on the world stage when talking about renewable energy and green solutions."
Dan Briggs, the new President and CEO of Pegasus Group Holdings said, "This acquisition provides a major growth opportunity for both Plus Minus Power and Pegasus Group Holdings. The resources and experience created by this union will ultimately lead to more comprehensive product offerings and stronger solutions for our clients. I appreciate the trust and confidence that Jay Bloom and his Board have placed in myself and my team and look forward to an exciting future."
ABOUT PEGASUS GROUP HOLDINGS
Pegasus Group Holdings is a holding company that owns and operates renewable energy based hyperscale data center ecosystems for enterprise colocation, differentiated multi-cloud, industry-leading telecommunications solutions, disaster recovery services and off-site data storage solutions for a variety of corporate clients. Tenants may include cryptocurrency miners, medical companies providing human genome mapping sequencing, movie studies rendering 3D feature films, as well as disaster recovery and data storage services. Any remaining power can be transferred into the national or local power grids.
ABOUT PLUS MINUS POWER
Plus Minus Power creates, manages, maintains and monetizes renewable energy to help change the way people use and store energy. PMP is dedicated to ever improving the state of the art in the energy sector. PMP owns and builds micro grids for storage solutions and energy efficiencies to meet power needs. The Company collaborates to create advanced IOT deployments utilizing proprietary solar generators in a rapidly developing field. PMP continues to build and create new product as they revolutionize the ability for people to reduce their grid dependencies and become self-consumers of their own energy generation.
This press release contains forward-looking statements within the meaning of federal securities laws. Forward-looking statements in this press release include, but are not limited to, statements regarding future data center campus capacity. The forward-looking statements in this press release are based on information available as of the date hereof, and the Companies disclaim any obligation to update any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law.
SOURCE Pegasus Group Holdings