Saturday, July 5, 2025
  • About
  • Contact
  • Privacy Policy
Ecobuild.club
  • Home
  • Sustainability
  • Insulation
  • Energy Efficiency
  • Eco Build
  • Green Energy
  • Natural Global Resources
  • Videos
No Result
View All Result
Ecobuild.club
Home Energy Efficiency

CSI and Pineapple Energy merging to focus on residential DER market and VPPs

3rd March 2021
in Energy Efficiency
0
CSI and Pineapple Energy merging to focus on residential DER market and VPPs
0
SHARES
13
VIEWS
Share on FacebookShare on Twitter

Related posts

Denver vehicle-to-building pilot yields net benefits

Denver vehicle-to-building pilot yields net benefits

10th December 2021
India’s wind market is ready for its comeback

Building out renewables in India could cost $26.5b through 2030, report says

10th December 2021

Communications Systems, Inc. (CSI), an IoT intelligent edge products and services company, announced that it entered into a definitive merger agreement with privately held Pineapple Energy, an operator and consolidator of residential solar, battery storage, and grid services solutions.

Upon closing, CSI will commence doing business as Pineapple Energy, with a business model focused on the rapidly growing home solar industry, it said.

Founded in November 2020 by private equity firm Northern Pacific Group and seasoned industry executives, Pineapple provides solar, battery storage and other energy services to homeowners. Through its unique “battery-first” business model, Pineapple will offer compelling residential solar power systems, with longer-term plans to aggregate its customer fleet into regional virtual power plants.

Commenting on Pineapple’s vision for the future of energy, Pineapple’s Chief Executive Officer Kyle Udseth said, “We see the energy system of tomorrow as a decentralized network grown from the grass roots of individual homeowners and their solar-plus-battery systems. Our vision is for Pineapple to become a champion for homeowners in this energy transition by delivering the best customer experience in a consultative manner. We will offer the full range of financing options and a broad selection of hardware from leading manufacturers, all with the purpose of empowering homeowners and giving them choice. We want to always stay aligned with our customers’ interests, including as we share future grid-services revenues.”

Pineapple recently signed definitive agreements to acquire Hawaii Energy Connection (HEC) and E-GEAR, both Hawaii-based sustainable energy solution providers. These follow on Pineapple’s acquisitions of Horizon Solar Power and certain assets of Sungevity in December 2020.

Udseth noted, “The anticipated addition of HEC and E-GEAR to the Pineapple family will solidify our foundation and expand our geographic footprint. We intend to leverage HEC’s experience in storage design, installation and support, as well as E-GEAR’s proprietary distributed aggregation, control and grid service technology. These advantages will enhance our product offering through the mainland US, including in underpenetrated markets such as Florida and Texas.

CSI putting some assets up for sale

Members of both CSI’s and Pineapple’s management teams will assume leadership roles in the combined company. Roger H.D. Lacey, Executive Chairman of CSI, and Mark Fandrich, CSI’s Chief Financial Officer, are expected to remain in these same roles. The Company expects to remain in its current headquarters near Minneapolis, Minnesota.

Lacey commented, “Over the last three years, CSI’s Special Committee oversaw a series of initiatives designed to drive shareholder value. In 2020, we completed a reorganization of our business. While pleased with our progress, we have concluded that our two current operating segments would provide more substantial long-term growth opportunities to organizations that can unlock additional synergies, expand into adjacent markets, add scale, and broaden their existing product lines. We are committed to finding new owners for these businesses that can continue their long tradition of quality products and services but remain committed to supporting these businesses and their current operations and customers during this process. Meanwhile, by re-inventing CSI through this proposed merger, we will set the stage to become a fast-growing and profitable company, with a focus on delivering immediate value to our shareholders while retaining an opportunity for long-term appreciation.”

Source

Previous Post

Ghana and Côte d’Ivoire begin history-making COVAX vaccination drives |

Next Post

Retail electricity provider Peninsula Clean Energy now offering 100% emission-free power

Next Post
Retail electricity provider Peninsula Clean Energy now offering 100% emission-free power

Retail electricity provider Peninsula Clean Energy now offering 100% emission-free power

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Tide of change in Philippines as women revive watersheds and livelihoods

6 days ago

Istanbul Tackles Tourist Crowds and Climate Issues Together

3 days ago

Press Release: Global leaders launch the “Sevilla Platform for Action” to accelerate financing for sustainable development

5 days ago

Spain and Brazil push global action to tax the super-rich and curb inequality

4 days ago

POPULAR NEWS

  • 7 Most Sustainable Guitar Woods & The Brands Using Them

    7 Most Sustainable Guitar Woods & The Brands Using Them

    0 shares
    Share 0 Tweet 0
  • Ethiopia invests big in land restoration

    0 shares
    Share 0 Tweet 0
  • Environment Friendly Energy School Model | Projects for Science Exhibition | MrTopper

    0 shares
    Share 0 Tweet 0
  • COVID in Europe: China’s surge not a cause for concern ‘at this time’ says WHO, as XBB.1.5 virus spreads

    0 shares
    Share 0 Tweet 0
  • 5 Eco-Friendly Practices To Help Protect and Conserve Baguio City’s Environment

    0 shares
    Share 0 Tweet 0
Ecobuild.club

ecobuild.club is an online news portal which aims to provide knowledge about Sustainability, Insulation, Energy Efficiency, Eco Build, Green Energy & Natural Global Resources.

Follow us on social media:

Recent News

  • How South African Cities Are Building Water Resilence
  • Northern hemisphere heatwave underscores value of early-warning alerts
  • Media Advisory | FFD4 Closing Press Conference

Category

  • Eco Build
  • Energy Efficiency
  • Green Energy
  • Insulation
  • Natural Global Resources
  • Sustainability
  • Videos

Subscribe to get more!

  • About
  • Contact
  • Privacy Policy

© 2018 EcoBuild.club - All about Eco Friendly Environment !

No Result
View All Result
  • Home
  • Sustainability
  • Insulation
  • Energy Efficiency
  • Eco Build
  • Green Energy
  • Natural Global Resources
  • Videos

© 2018 EcoBuild.club - All about Eco Friendly Environment !