Ice Energy, a Glendale-based provider of energy storage and smart grid solutions, reached an agreement late last week with retail energy supplier Verde Energy USA to form a strategic alliance.
Company officials say the partnership will leverage the resources of both companies to improve energy resources and efficiency.
The deal includes a minority equity investment in Verde by an Ice Energy affiliate. Terms of the investment were not disclosed.
“We are excited about the opportunity to work with Verde Energy USA. Together, we will be able to further expand both the knowledge and resources required to enable smarter energy consumption,” said Dave Prezioso, CEO of Ice Energy.
Ice Energy recently relocated its base from Windsor, Colorado to Glendale. The company uses smart grid solutions to provide utilities with a system that changes peak load management and improves the integration of intermittent, renewable resources on the grid.
“This launch is the first of many important upcoming milestones for our wholly-owned subsidiary, Verde Energy Solutions, which will enable our customers to access an increasing array of best-in-class clean energy efficiency tools,” said Thomas FitzGerald, CEO of Verde, in a prepared statement.
Ice Energy has strategic partnerships with Carrier Corp., Data Aire, LogiFusion, Mercury Corporation, and Trane, among others, to implement its Ice Bear Energy Storage System. Kelly Golf