The United States strengthens its energy capabilities with the acquisition of AEG for $30 million

ICF acquires Applied Energy Group from Ameresco for $30 million, consolidating its energy and technology services for public utilities and local governments.

Partagez:

ICF, a company specializing in consulting and technology services, has completed the acquisition of Applied Energy Group (AEG) from Ameresco. This $30 million transaction for 2024 aims to enhance ICF’s capabilities in energy technologies and services for public and local markets in the United States.

AEG, which includes over 100 energy management experts, brings to ICF an advanced technology platform dedicated to managing demand-side management (DSM) programs. These programs cover key areas such as energy efficiency, demand response, and load management. The cloud-based platform delivers real-time business intelligence and analytics to ensure grid reliability while maintaining competitive costs.

A strategic partnership

The collaboration between ICF and AEG is not new. The two companies have worked together on various projects for public utilities, strengthening their respective expertise. With this acquisition, ICF aims to develop additional synergies and accelerate its growth in the energy sector.

John Wasson, ICF’s CEO, stated that this operation is part of a broader strategy to expand its technological and consulting services. “We are now better equipped to meet the growing needs of our clients in energy efficiency and load management,” he said.

A repositioning for Ameresco

On its side, Ameresco highlighted that this divestiture allows it to focus more on its core activities, including energy projects, asset management, and operation and maintenance services. “We are excited to see AEG thrive under ICF’s leadership, which will offer new growth opportunities for their team,” said George Sakellaris, Ameresco’s CEO.

Strong financial prospects

ICF expects AEG’s annual revenues to reach approximately $30 million in 2024, with double-digit growth projected by 2025. This acquisition is also expected to have an immediate positive impact on the company’s adjusted earnings per share (Non-GAAP EPS).

This transaction comes as ICF experiences strong demand for its services in electrification, grid resilience, and flexible energy management.

Shell announces amendment of two annual reports after notification by Ernst & Young of non-compliance with SEC auditor partner rotation rules; however, financial statements remain unchanged.
The Financial Superintendency of Colombia approves an amendment to Ecopetrol’s local bonds and commercial paper program, enabling issuance of sustainable, indexed, or in-kind repayable instruments.
ABO Energy is selling its subsidiary ABO Energy Hellas and an energy project portfolio of approximately 1.5 gigawatts to HELLENiQ ENERGY Holdings, thus refocusing its strategic resources towards other markets, notably Germany, without major financial impact anticipated for 2025.
Iberdrola announces a supplementary dividend of €0.409 per share for 2024 under the "Iberdrola Retribución Flexible" programme, bringing the total annual remuneration to €0.645 per share, representing a year-on-year increase of 15.6%.
BHP has signed contracts with COSCO Shipping to charter two ammonia-powered Newcastlemax bulk carriers, primarily for transporting iron ore between Western Australia and Northeast Asia starting from 2028.
CBAK Energy and Anker Innovations jointly launch a battery cell manufacturing facility in Malaysia, with a commercial potential estimated at $357 million, further strengthening their strategic partnership in the lithium-ion battery sector.
German energy group Badenova plans to invest $4.64 billion in its energy networks and capacity by 2050, including $232 million committed from 2025, according to the company's recently published annual financial results.
ORIX announces the sale of the majority of its stake in Greenko to AM Green Power and commits a new USD 731mn investment in the Luxembourg-based AMG holding, confirming its strategic repositioning in next-generation energy.
Invenergy seals four further contracts with Meta to supply nearly eight hundred megawatts of solar and wind power to the group’s data centres, lifting total cooperation between the two companies to one point eight gigawatts.
Pedro Azagra leaves his role as CEO of Avangrid to become CEO of Iberdrola, while Jose Antonio Miranda and Kimberly Harriman succeed him as CEO and Deputy CEO respectively of the American subsidiary.
The US investment fund Ares Management enters Plenitude's capital by acquiring a 20% stake from Eni, valuing the Italian company at 10 billion euros and reinforcing its integrated energy strategy.
ENGIE secures a contract to reduce Airbus' industrial emissions in France, Germany, and Spain, targeting an 85% decrease by 2030 through various local energy infrastructures.
Alain Rhéaume, Chairman of Boralex’s Board of Directors for eight years, will leave his position by December, following the appointment of his successor by the governance committee of the Canadian energy group.
Norwegian group Statkraft plans an annual cost reduction of NOK2.9bn ($292 million) by 2027, citing possible job cuts amid rising financial burdens and volatility in the European energy market.
EDF merges EDF Renouvelables and its International Division into EDF power solutions, led by Béatrice Buffon, to optimise its global 31 GW low-carbon energy portfolio and strengthen its international positioning.
TotalEnergies announces a strategic partnership with Mistral AI to establish a dedicated innovation laboratory integrating artificial intelligence tools aimed at enhancing industrial efficiency, research, and customer relations.
The Energy Transitions Commission warns of economic risks tied to growing protectionism around clean technologies, while calling for global consensus on carbon pricing.
Baker Hughes has reached an agreement to sell its precision sensor product line to Crane Company for $1.15bn, thereby refocusing its operations on core competencies in industrial and energy technologies.
American conglomerate American Electric Power sold 19.9% of two transmission subsidiaries to KKR and PSP Investments, raising $2.82bn to support its five-year $54bn investment plan.
The new mapping by Startup Nation Central identifies 165 active companies in Israel’s energy technologies, amid strong private funding and growing global market interest.