Pason Invests US$20 Million In Solar Power And Energy Storage Industry
Pason Systems Inc. has invested US$20 million to acquire the majority interest in a U.S.-based software company that provides products and services for the solar power and energy storage industry.
By combining this U.S. software company with subsidiary Pason Power Inc., Pason intends to provide a robust and compelling software and control system that enables solar and energy storage developers to secure more projects and deploy assets for their customers with higher confidence.
“With this strategic investment, we are strengthening our position in this exciting and rapidly-growing industry” Marcel Kessler, Pason’s president and chief executive officer, said in a news release.
Over the past two years, he added, Pason Power has built a foundation in the solar and energy storage market through its Storage Architect, iEMS, and Energy DataHub products.
“With the combined capabilities of Pason Power and the company, and building on Pason’s deep data management expertise, we are positioning ourselves for meaningful growth and presence in the solar and energy storage market.”