Company seeks to expand geographic footprint in the building energy services sector
BOSTON - January 11, 2017 - Veolia Energy North America Holdings, Inc. (Veolia) has acquired Enovity, a San Francisco-based energy services firm. Enovity is a strategic acquisition that complements Veolia's existing SourceOne energy services business, providing a platform for expanding the company's geographic footprint in the building energy services sector.
Buildings account for more than 40% of all energy consumption in the United States, and more than 30% of all energy consumed worldwide. Improving energy efficiency in buildings is fundamental for reducing greenhouse gas emissions in cities, decreasing costs and improving productivity for businesses and strengthening energy security; and thus, the circular economy.
The building energy services industry is a fast growing sector, driven by environmental regulation and energy costs, that touches all markets, especially regionally in California. The U.S. building energy efficiency market, a $64 billion industry, plays an ever critical role in controlling energy consumption and CO2 emissions in cities.
Investing in Enovity supports Veolia's growth strategy within the energy services sector in North America. With the Enovity acquisition, Veolia's energy solutions business expands to 250 professionals with offices in New York, Boston, Philadelphia, and four locations in California (San Francisco, Los Angeles, Irvine and Sacramento); combining the leading minds in the energy services business.