Over the last few years, the renewable energy sector has grown at an astonishing rate. Analysts predict it will be valued at more than $1.1 trillion by 2027.
As the business expands, more investors seek renewable energy shares and bonds to invest in. This will boost demand for renewable energy companies, according to blueandgreentomorrow.com.
Investors are paying more attention to green firms than ever before, and renewable energy is at the top of their priority list. According to Investopedia research, companies such as Crius Energy, Daqo New Energy Corp, and SunPower Corp are among the most appealing investments.
Of course, they are not interested in investing in just any renewable energy stock. To achieve significant progress in any business, hard effort and determination are required, and the green energy industry is no exception. Michael Fallquist has risen to the occasion, making many notable movements in the renewable energy sector during the last few years.
Fallquist is continually trying to make renewable energy available to more people than ever before, leading a $436 million takeover of Crius Energy in 2019 and a $100 million financial commitment in Energywell in 2021.
Let us look more closely at these two agreements and their implications for the green energy industry. This is a fantastic example of the sorts of renewable energy equities that investors are interested in.
Michael Fallquist, who led Crius Energy’s Initial Public Offering in 2012, has established Crius Energy as a key participant in the renewable energy industry across the United States. Crius Energy, led by Fallquist, supplied over one million electricity and natural gas consumers under a variety of names, including U.S. Gas & Electric, Public Power, and Viridian Energy. Michael Fallquist received the Ernst & Young Entrepreneur of the Year Award in the Clean-Tech category for the New York area in 2012 for his efforts in the renewable energy business.
Despite being less than ten years old, Crius Energy was functioning quite well by 2018, providing a 10% compound annual growth rate to investors and earning more than $1.2 billion in sales. In July 2019, Fallquist negotiated the sale of Crius to Vistra Energy for a total enterprise value of roughly $550 million.
The transaction combines Vistra Energy, a Texas-based firm that is one of the top marketers of residential power in the country, and Crius’ several brands that serve clients across the United States.
In the fall of 2021, Fallquist founded Energywell, a new company focusing on the green industry. He was able to obtain a $100 million funding commitment from Oaktree Capital Management and Hartree Partners funds.
Fallquist is co-Chief Executive Officer of this new company, together with other industry professionals such as Christian McArthur as co-Chief Financial Officer, Roop Bhullar as Chief Financial Officer, and Jonathan Rubenstein as General Counsel.
The company’s objective is to build a best-in-class renewable energy platform based on its proprietary technology. Energywell will supply novel renewable energy solutions to customers via its technology platform, as well as employee data and automation to guarantee our goods are utilized responsibly.
The $100 million cash injection will enable Energywell to develop rapidly through organic expansion and acquisitions.