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New York energy firm scoops up Houston’s Infinity Power Partners

The company says the deal is part of the “next chapter” in energy management. Photo via Unsplash

Houston-based energy management and consulting firm Infinity Power Partners has been acquired by New York City-based Environ Energy, which also offers energy management and consulting services.

The deal creates a new “anchor segment” for Environ in the multifamily market. With the addition of Infinity Power’s roughly 2,000 clients in the multifamily sector, representing more than 1 million multifamily units under contract, Environ now has more than 8,000 U.S. clients in the commercial real estate, healthcare, manufacturing, education and government sectors.

“This acquisition continues to solidify our presence in key energy markets while aligning with founders who share our deep commitment to client success,” Environ CEO Chris Sternberg said in a news release.

Infinity Power co-founders and managing partners Nick Altman and Peter Selber have joined Environ, a portfolio company of investment firm 424 Capital. Altman and Selber founded Infinity Power in 2011.

“We built our business one relationship at a time,” Selber said, “with a strong commitment to the communities we serve. That same dedication is reflected in Environ’s approach — now delivered at scale.”

Altman says the acquisition is part of the “next chapter” in energy management. Energy management services help commercial customers reduce utility bills, improve equipment life, achieve green energy goals, and decrease risk tied to fluctuating energy prices.

“Energy management is a culture for continual improvement of energy performance and efficiency that’s integrated within an organization’s normal business practice,” according to the U.S. Office of Energy Efficiency & Renewable Energy.

In all, Environ has made six acquisitions in the past 17 months.

Last year, Environ acquired another Houston-based energy management and consulting firm, CSD Energy Advisors. In that deal, Environ gained nearly 1,000 clients, including several Fortune 500 companies and three large industrial energy users in Texas. As part of the deal, CSD co-founders Andrew Barth and JB Sowyrda joined Environ.

Also last year, Environ purchased Carrollton-based energy advisory firm Rapid Power Management (RPM).

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A View From HETI

Fervo Energy has landed its latest accolade. Photo courtesy Fervo Energy

Houston-based geothermal power company Fervo Energy has notched a three-peat on MIT Technology Review’s annual 10 Climate Tech Companies to Watch List.

“The newly public company is betting that Al’s power boom will help turn enhanced geothermal energy into a scalable reality,” MIT Technology Review says of the three-time honoree.

Fervo went public in May through a $2.2 billion IPO.

Other Fervo recent milestones include:

“We are in the midst of a once-in-a-generation surge in power demand that is likely to dictate the outcome of the American success story in both artificial intelligence and industrial growth, but also the extent to which people have access to affordable, reliable power,” Tim Latimer, co-founder, chairman, president and CEO, said during Fervo’s second-quarter earnings call.

“The stakes have never been higher,” he added, “and I’ve never been more convinced that Fervo is uniquely positioned to meet this moment.”

Also making MIT Technology Review’s fourth annual list were:

  • Greentown Houston alum Energy Dome, based in Milan, Italy. “Energy Dome is using the gas to deliver cheap long-duration energy storage for the grid,” MIT Technology Review says.
  • Greentown Houston alum Moment Energy, based in Vancouver, Canada. “The startup is betting that repurposing — rather than recycling — used EV batteries will help buoy much-needed U.S. supply,” MIT Technology Review says.
  • Greentown Boston member Form Energy, based in Somersville, Massachusetts. It’s a three-time honoree. “Form’s 100-hour batteries could make clean energy more weather-resilient and help power data centers,” MIT Technology Review says.

Greentown Labs is an incubator for climatech and energy startups that's co-located in Houston and Boston. Fervo is also an alum of Greentown Houston.

“Whether early-stage startup or multinational corporation, the businesses we’ve chosen are working on technologies to help us address climate change or adapt to our warming world,” MIT Technology Review says. “There’s an urgent need for these innovators: We must begin to drastically reduce emissions to avoid the deadliest impacts of climate change, while also contending with its harmful effects.”

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