ACHRNEWS

Oct. 11, 2012: Ice Energy and Verde Energy USA Announce Strategic Alliance

October 11, 2012
GLENDALE, Calif., and NORWALK, Conn. — Ice Energy, a leading provider of distributed energy storage and smart grid solutions, and Verde Energy USA Holdings LLC, a leading retail energy supplier and clean energy solutions provider, have announced the formation of a strategic business alliance that includes a cooperation agreement between the two companies, as well as a minority equity investment in Verde by an affiliate of Ice Energy. According to the companies, this alliance will leverage the strengths of both organizations to provide customers with an option for lower cost, clean-tech energy that improves overall grid reliability and efficiency. Terms of the equity investment were not disclosed.

Dave Prezioso, Ice Energy CEO, said, “We are excited about the opportunity to work with Verde Energy USA. Together, we will be able to further expand both the knowledge and resources required to enable smarter energy consumption.” Prezioso said the new alliance “illustrates Ice Energy’s continued company growth and its support of wiser energy consumption, more affordable electric rates, and positive environmental impact.”

Thomas FitzGerald, Verde CEO, said, “This alliance with Ice Energy builds on our commitment to identify and deliver innovative, cost-effective energy solutions. This launch is the first of many important upcoming milestones for our wholly-owned subsidiary, Verde Energy Solutions, which will enable our customers to access an increasing array of best-in-class clean energy efficiency tools. We’re also very pleased with the confidence that Ice Energy has shown, through the investment, in our rapidly expanding value proposition, which offers clean, smart, and efficient energy solutions to commercial, government, and consumer markets.”

For more information about Ice Energy, visit www.ice-energy.com. For more information about Verde Energy USA, visit www.verdeenergyusa.com.

Publication date: 10/8/2012