An Axium Infrastructure-managed fund has acquired BlueWave, a Boston-based solar and energy storage developer. Under the phrases of the acquisition, BlueWave will preserve its identify and whole crew in place as the corporate focuses on the expansion of its solar energy and storage growth portfolio.
With an intent to combine environmental social governance (ESG) on the coronary heart of its challenge growth and administration course of, Axium’s values align with BlueWave’s mission to rework entry to renewable energy via a accountable growth philosophy. Axium is supporting BlueWave’s work in group solar growth and the follow of agrivoltaics and floatovoltaics. While Axium has a number of different asset-based investments within the renewable energy sector, this can be Axium’s first renewable growth firm acquisition.
“This acquisition marks a pivotal new period in BlueWave’s history. It was crucial for us to find a like-minded owner who shares in our mission to revolutionize renewable energy and to help us scale, and that partner is unequivocally Axium” says Trevor Hardy, CEO of BlueWave. “Axium’s ownership will enable tremendous growth opportunities as we look to own and operate our development assets and continue pioneering in dual-use solar development, storage development and accessibility of renewable energy for low- to middle income communities.”
The acquisition marks a possibility for BlueWave to evolve its enterprise mannequin to not solely develop, but in addition construct, personal and handle the initiatives inside its growth portfolio. With this, BlueWave will concentrate on hiring to help the transition to long-term asset possession and construct a crew to help ongoing firm development.
“BlueWave is thrilled to join forces with such a deeply committed, mission-driven, ESG investor. Axium and BlueWave share common values and purpose and are united in a vision for achieving significant growth, innovation, and impact in the climate battle,” states John DeVillars, co-founder and chairman of BlueWave. “It’s a wonderful match, and with the talent and resources Axium adds to the equation, I have every confidence we will achieve that vision.”
“Our acquisition of BlueWave is a reflection of their solar and energy development innovation and a desire for us to significantly grow our renewable energy portfolio. We’re proud to support a company that not only shows growth and financial promise, but also aligns with our values and strong focus on ESG,” feedback Thierry Vandal, president of Axium Infrastructure U.S. Inc. “We look forward to a bright and more sustainable future working alongside BlueWave’s tenured and talented team to push the limits on solar innovation.”