Nexamp acquires SolVera Energy

Nexamp has acquired SolVera Energy. 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.

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