ABM Acquires RavenVolt to Expand Microgrid and Energy Solutions

BorgWarner Acquires Rhombus Energy Solutions

August 3, 2022

Energy

BorgWarner Inc. acquired San Diego-based Rhombus Energy Solutions for an enterprise value of up to $185 million, with approximately $130 million paid at closing and up to $55 million in contingent payments. The deal expands BorgWarner's charging business—adding V2G and DC fast-charging capabilities and a North American presence—and leverages BorgWarner's manufacturing, engineering, supply chain, and sales strengths to scale Rhombus's technology.

SunPower Acquires Blue Raven Solar

October 21, 2024

Renewable Energy

SunPower Corporation acquired Blue Raven Solar in a cash transaction of up to $165 million to accelerate its residential solar business and expand its geographic footprint into underpenetrated U.S. regions. Blue Raven’s CEO Ben Peterson will join SunPower’s executive team as SunPower combines its products and digital tools with Blue Raven’s direct-to-consumer sales and installation capabilities to grow residential solar and related financing products.

Generate Capital Acquires esVolta to Expand Battery Storage and Grid Resilience

July 21, 2022

Energy

Generate Capital has acquired utility-scale battery storage developer esVolta LP, adding a portfolio of more than 900 MWh of operational and contracted projects and a pipeline across multiple U.S. states and Canada. The deal gives Generate entry into the front-of-the-meter battery storage market to expand its grid-connected storage capabilities and accelerate deployment of energy storage projects for utilities and offtakers.

Endeavor Business Media Acquires Microgrid Knowledge

May 5, 2022

Media & Entertainment

Endeavor Business Media has acquired Microgrid Knowledge, the online news and information site focused on microgrids and distributed energy resources, along with its Microgrid Conference series. The acquisition adds energy-focused editorial content and an events business to Endeavor’s portfolio, expanding its reach in the energy market and complementing existing energy brands such as T&D World and EnergyTech.

ABB Acquires Lumin to Expand Residential Energy Management in North America

January 14, 2025

Energy

ABB has acquired U.S.-based Lumin, a provider of residential energy management hardware and cloud software, following a 2023 strategic minority investment. The acquisition brings Lumin's load-management hardware, integrations for solar and storage, and homeowner-facing software into ABB's Electrification portfolio to broaden its North American home electrification and smart-home offerings.

Carrier Acquires Addvolt

May 2, 2025

Transportation

Carrier Global Corporation has completed the acquisition of Addvolt S.A., a Porto-based transport electrification technology company with about 60 employees. The purchase brings Addvolt's plug-in electric systems, power management and energy-management software into Carrier's Climate Solutions Transportation segment to accelerate the company's electrification capabilities.