LOUISVILLE, Colo., Dec. 17, 2020 /PRNewswire-PRWeb/ -- Community Solar Platform, LLC (CSP), the leading community solar services and solutions company, announced that it has been acquired from Clean Energy Collective, LLC (CEC) by a group of former employees. Community Solar Platform Holdings, LLC, the acquirer, has secured financial backing for on-going operations as part of the deal.
The acquisition includes intellectual property, clients, partners, and employees. There is no trailing ownership from CEC equity or debt holders. The deal structure positions the employees as co-founders with founder-preferred shares and the majority stake in the company.
Born as CEC's proprietary internal software and services platform in 2009, CSP was rolled out to the public for non-CEC clients in 2015. CSP has been the leading community solar services provider since its inception, with the dominant market share across the US today.
"The demand for community solar continues to grow on a global scale as a multi-billion-dollar industry. This move allows asset owners to deploy solutions at a rapid pace, with unlimited capacity, without the need for additional staff," said Bart Rupert who led the transaction on behalf of the Community Solar Platform. "It's like outsourcing the hardest parts of community energy to reliable experts," he added.
Following the divestiture from CEC the Community Solar Platform will continue its legacy of success supporting community energy projects across the country. This includes some of the largest utilities and asset owners in the United States.
"We're grateful for our time with CEC, during which we built a world-class team and invested over $15M in our technology platform. As a result, we're now able to provide a solution that offers the best data security in the industry with the lowest customer attrition rate," said Don Munroe, SVP of Technology and CEC's first employee in 2009.
Community Solar Platform is leveraged by dozens of asset owners, utilities and developers on a daily basis to provide reliable billing, reconciliation reporting, accounts receivable tracking, customer acquisition and customer care to thousands of community solar customers across the county. This includes access to a customer portal that displays metrics on each system including energy production from the facilities, customer savings, pounds of CO2 offset, and other useful information.
Brad Hayes, SVP of Product Management, said, "Community solar has become remarkably complex over the years. Facility owners are starting to experience the perils and pain of keeping up with regulatory requirements, thousands of unique customers, payment issues, reconciliation issues, and other problems which highlights the quality and maturity of CSP's offerings. We look forward to continuing to do what we do best – taking care of our clients, their operating assets and customers."
About Community Solar Platform
Community Solar Platform (CSP) is the nation's leading provider of community solar services and solutions to the financial, development and utility industries. CSP pioneered the model of acquiring community solar customers online as well as automating the services required to maximize asset owner returns within facility ownership. CSP serves dozens of asset owners, developers and utilities across 15 states.
Visit http://www.communitysolarplatform.com for more information, or join us on Facebook, Twitter, and LinkedIn.
Media Contacts:
Community Solar Platform Holdings, LLC: Bart Rupert | 720-782-7953, [email protected]
Media Contact
Bart Rupert, Community Solar Platform Holdings, LLC, +1 (720) 782-7953, [email protected]
SOURCE Community Solar Platform Holdings, LLC
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