Veolia Acquires Icetec to Expand its Digital and Distributed Energy Business in North America

Veolia, a leading global integrated provider of environmental services, announced that it has completed the acquisition of Icetec, a Pennsylvania-based digital and distributed energy management company with more than 20 years of experience in generating quantified energy savings and operational improvement for customers.

The tuck-in acquisition will complement Veolia’s existing North American energy service offerings and bring additional functionality to the company’s Hubgrade digital platform. In the context of increased volatility in the electricity market and stress on the power grids, Icetec customers will benefit from the broad services Veolia can provide to further increase their environmental performance.

The move is part of the company’s GreenUp strategy, which aims to double its revenue in the United States and Canada by 2030, with a focus on decarbonization, resource regeneration, and depollution. The acquisition reinforces Veolia’s commitment to improving energy efficiency, decarbonizing industry, and promoting a sustainable global energy system.

The Icetec team, based in Boothwyn, PA., will bring both their software and expertise in site and asset optimization to Veolia’s Sustainable Industries and Buildings business. Icetec’s fully integrated management platform enables leading institutions to optimize their distributed energy assets, both operationally and financially, by accessing wholesale energy markets. Icetec also brings a portfolio of marquee clients in the higher education, healthcare, commercial and industrial sectors.

Karin Hamel, President and Chief Executive Officer of Veolia’s Sustainable Industries and Buildings business said: “We are thrilled to welcome Icetec to Veolia. This valuable acquisition will be an integral part of our GreenUp strategy as we grow our energy services business by helping our customers conserve energy and reduce their environmental impact with future forward, digital capabilities. We believe combining Icetec with our existing digital platforms will provide an enhanced and differentiated experience for our customers.”

Michael Webster, Founder and Chief Executive Officer of Icetec said: ”Joining Veolia is an important step forward for our company to help us reach new markets, better serve our customers, achieve greater impact and provide growth opportunities for our team. With the opportunities across power markets in North America, we are excited to become part of a global energy and sustainability leader like Veolia where we can continue to develop and deploy Icetec’s management and optimization solutions to a broader set of industries and customers.”

Veolia | www.veolianorthamerica.com

Icetec | https://icetec.com/