SOURCE: Nexamp


March 31, 2011 09:40 ET

Nexamp Expands Renewable Energy Capabilities With Acquisition of SolVera Energy LLC

Move Adds Significant Finance and Development Expertise

NORTH ANDOVER, MA--(Marketwire - March 31, 2011) - Nexamp, Inc. announced today the acquisition of SolVera Energy LLC as part of a targeted initiative to grow its utility-scale and distributed renewable energy business. The company 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.

"The 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," stated Nexamp board chairman and co-founder Henri-Claude Bailly. According to fellow co-founder and board member, Daniel P. Leary, "This is an exciting next step for Nexamp that will build on our momentum in the two strategic businesses that will have the greatest impact on our success."

Nexamp co-CEO and board member, Stuart R. Patterson, will head up the Clean Energy Advisory Services group. "The new business unit will allow us to build on the success of dozens of energy efficiency projects in Massachusetts and expand our efforts in the Northeast and beyond," said Patterson.

With the SolVera Energy acquisition, Nexamp named John R. 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. Former SolVera Energy Executive Vice President and CFO, Patrick A. Daly, 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.

"Nexamp is a highly respected brand in the renewable energy industry and I am excited to lead our expansion in the North American market," said Malloy. "To make this happen, I am committed to working closely with an array of trusted development partners to deliver high-caliber renewable energy projects."

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. Malloy is a graduate of the University of Massachusetts Dartmouth and holds a SMME degree from the Massachusetts Institute of Technology.

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. Mr. Daly is a graduate of Harvard University and holds an M.B.A. degree from The Wharton School at the University of Pennsylvania.

About Nexamp

Nexamp is a leading provider of renewable power and clean energy solutions. The company has delivered over 300 successful energy projects ranging from utility-scale solar photovoltaic installations to comprehensive clean energy master plans. With a unique combination of energy project finance, design, construction, and operations experience, coupled with expertise in technologies, markets, and policy, Nexamp makes clean energy simple and profitable for our clients and partners.

  • Renewable Energy Solutions. Nexamp develops, builds, owns, and operates renewable energy projects, and has a proven track record of delivering reliable utility-scale and distributed renewable energy installations. We provide a comprehensive solution from project development and renewable energy certificate sales through construction and operations to ensure our clients and partners maximize the return on their investments.

  • Clean Energy Advisory Services. Nexamp's Advisory Services team works closely with our clients to perform an in-depth analysis of their current energy usage, develop a tailored portfolio of energy solutions and implement the energy conservation measures with the quickest payback and highest impact. Our Clean Energy Road Map enables clients to better understand the renewable energy, energy efficiency, and energy management options available to reduce their energy costs, improve their bottom-line, and shrink their carbon footprint.

Nexamp investors include Point Judith Capital, an early stage venture capital firm focused on the internet software and services, healthcare technology, and clean technology industries; Good Energies, one of the world's leading private investors in renewable energy and enabling technologies; and RCG Ventures, an early stage clean energy investment firm. 

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