Commodities intelligence firm CRU confirmed this morning it has acquired solar energy and electric vehicles consultancy Exawatt in what is seen a major push into renewables for CRU.
Exawatt, based in Sheffield, England, is primarily focused on technology, manufacturing and materials with regards to decarbonisation through electrification. This includes battery energy storage systems (BESS), solar cells and modules.
CRU, meanwhile, provides market analysis on a wide range of issues, from counsel on macro challenges such as carbon emission reductions and the circular economy, to commodity-specific demand trends and regulations.
Financial details of the transaction have not been disclosed.
Paul Robinson, head of corporate business development at CRU, said: “Ensuring we have the right data, analysis and expertise is essential in providing our global client base with the insights needed to participate in decarbonisation efforts.
“The acquisition of Exawatt furthers our ability to do this, with capabilities that means the whole is truly greater than the sum of its parts.”
With this acquisition, Exawatt’s team will be fully retained, meaning CRU will employ more than 380 team members in 15 locations across the world.
Last year, asset management company Intermediate Capital Group’s infrastructure fund acquired British Solar Renewables, a UK-based integrated solar developer. ICG’s partnership with BSR includes an objective to transform BSR into an integrated power producer with 1.5GW of renewable capacity by 2027.
