Rubicon Technology Sells Majority Stake in Uplight to Schneider Electric-Led Consortium
29 Luglio 2021 - 07:51AM
Dow Jones News
By Fabiana Negrin Ochoa
Rubicon Technology Partners has completed the sale of its
majority stake in Uplight, in a deal valuing the clean-energy
software provider at $1.5 billion.
The shares were sold to a consortium of investors co-led by
Schneider Electric SE and AES Corp., and a group led by Huck
Capital, Rubicon Technology said late Wednesday.
The U.S. private-equity firm will continue to be a minority
investor in Uplight, which provides software products aimed at
helping utilities build clean-energy ecosystems by reducing
baseload energy use, lowering customers' bills and advising on
electric vehicle adoption, among other things.
Goldman Sachs & Co. advised Uplight on the deal.
Colorado-based Uplight was formed in 2019 via the merger of
Tendril and Simple Energy.
The global market for sustainable energy tech and products could
be worth more than $900 billion, Rubicon said, citing estimates
from Nomura Greentech Capital.
Write to Fabiana Negrin Ochoa at fabiana.negrinochoa@wsj.com
(END) Dow Jones Newswires
July 29, 2021 01:43 ET (05:43 GMT)
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