Solar installer Insource Renewables joins ReVision Energy
The two Maine-based, employee-owned companies said the deal will help them tackle the regulatory and workforce challenges in Maine’s rapidly expanding solar market.
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Solar installer Insource Renewables of Pittsfield has been purchased by Montville-based ReVision Energy in an agreement the two companies say will help meet the surge in demand for clean-energy solutions in Maine and accelerate the regional transition to renewable energy.
The two Maine-based, employee-owned companies said in a joint statement that the deal will help them tackle the regulatory and workforce challenges in Maine’s rapidly expanding solar market, which has attracted several well-financed, national competitors.
Two Maine solar energy companies have joined forces to meet surging demand for zero-emission solutions and tackle regulatory and workforce challenges amid a growing number of competitors.
The companies, Montville-based ReVision Energy, and InSource Renewables, a smaller business based in Pittsifled, announced a merger agreement over the weekend they re already starting to implement. Terms were not disclosed.
ReVision Energy, structured under an employee stock ownership plan, or ESOP, is owned by its 280 employees. InSource Renewables employs 16 people, of whom six are owners through a cooperative arrangement that typically involves a longer path to employee ownership.
It remains to be seen how many owners and employees of InSource Renewables will join ReVision Energy through the combination, InSource CEO Vaughan Woodruff told Mainebiz by phone on Tuesday morning.
Commentary: Five steps to Maine’s green COVID recovery
Aim high; make equity a priority; invest in a modern clean-energy grid; join the regional transportation initiative, and establish an energy storage roadmap.
By Peter Rothstein and Fortunat MuellerSpecial to the Press Herald
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It doesn’t take much imagination to draw parallels between the COVID-19 pandemic and the climate crisis. Both crises present a global danger to our lives, threaten to disrupt our economy and disproportionately affect low-income communities and communities of color. But the pandemic has also shown that regional, national and international communities can respond quickly and meaningfully when a global crisis arises, and has woken us up to the urgent need to take action now on climate change.
When it comes to conditions for electric vehicles, Maine drew mixed reviews in a national scorecard released on Wednesday.
The State Transportation Electrification Scorecard, published by the American Council for an Energy Efficient Economy, found that while many states including Maine have taken promising steps to electrify transportation, there is considerable room for improvement. Ultimately, a full shift to affordable and accessible electrified vehicles powered entirely by zero-charge energy will be necessary to bring emissions to zero and support livable communities, according to the study.
California, the only state to set deadlines for electrifying transit buses, heavy trucks and commercial vehicles, earned the highest marks for enabling the use of electric vehicles, followed by New York; Washington, D.C.; Maryland; Massachusetts; Vermont; Colorado; Oregon; and New Jersey.
By Staff
Seven South Portland businesses will be honored virtually at the city s 2020 Business & Economic Development Awards next week, with the emphasis this year on facing down the pandemic. We recognize the struggles that our business community has faced, and our awards are unique this year in honoring their creativity, perseverance and resilience in navigating the many difficulties of 2020, the city s economic development committee said in a news release announcing the winners.
The ceremony will be held at 6:30 p.m. Thursday, Feb. 11, via Zoom.
This year s winners are:
COVID Pivot Pioneer – Scratch Baking Co., 416 Preble St. The award recognizes a business that adapted quickly to come up with new ways to operate and do it safely.