Enverus acquired Energy Acuity on March 31, expanding its power and renewables offering, the Austin, Texas-based analytics firm said.
“As energy markets rapidly evolve and investments in renewable generation increase, the need for analytical solutions to capitalize on this opportunity will also grow,” Manuj Nikhanj, president of Enverus, said in a statement.
Energy Acuity is a Denver-based provider of information and intelligence on renewable power and clean energy markets. The company’s product suite includes comprehensive and high-quality datasets covering power generation and grid infrastructure.
Founded in 2008, Energy Acuity’s team of domain experts has tracked and cataloged thousands of renewables projects leveraging hundreds of unique data sources across North America for more than a decade, according to the Enverus release.
“Over the past five years, our company has made significant investments through targeted acquisitions and organic development,” Nikhanj continued. “The addition of Energy Acuity will allow us to create the most comprehensive end-to-end energy offering in the industry.”
Enverus will integrate Energy Acuity’s data into PrismTM, the company’s hallmark single technology platform. Bernadette Johnson, who was recently promoted to senior vice president of power and renewables at Enverus, will oversee the integration. Energy Acuity has more than 30 employees in Denver.
“The market for renewables-focused data, insight and predictive analytics is clearly growing and our customers continue to signal that more advanced solutions are critical to maintaining a competitive edge,” Brian Graff, founder of Energy Acuity, said in a statement.
“As part of Enverus, we will be able to incorporate multiple new data sets and leverage the 200-person analyst and data science teams to create full forecasting capabilities, satellite tracking and valuation models of existing and proposed projects,” he added.
A portfolio company of Genstar Capital, Enverus is a strategic partner to more than 6,000 customers in 50 countries. The financial terms of its acquisition of Energy Acuity weren’t disclosed.
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