Charlottesville, Va.-based fuel distributor Tiger Fuel Company announced the completed acquisition of solar energy company Altenergy Inc.
The acquisition builds upon an ongoing collaboration between the two companies in the last 2.5 years. Tiger partnered with Altenergy in 2018 to solar-power its gourmet-to-go convenience stores, The Market at Preston and The Market at Ruckersville, supplying more than half of each facility’s electrical needs.
Tiger also extended a grant to Charlottesville Day School in July of 2019, supporting the installation of a 23.36kW roof mounted solar electric PV system, to provide ongoing energy savings and educational opportunities to faculty and students.
“We founded Tiger on the principle that we would be malleable, welcome change and improve the communities that we serve,” said Tiger Fuel President Gordon Sutton. “Our fuel business isn’t going away any time soon, but there is no doubt that the energy landscape is changing. We welcome Altenergy to the Tiger Family and are excited to build a bright future together.”
Day-to-day operations will continue to be managed by the Altenergy team, with a gradual integration into Tiger’s back-end operations. The deal marks one of Tiger’s many steps in reducing its carbon footprint as a founding member of the Community Climate Collaborative’s Green Business Alliance.
The local fuel supplier intends to add solar power to its four bulk heating plants as well as future real estate developments. Tiger recently appointed a new president, Russ Edwards, to accelerate the solar panel company’s long-term growth.
“I am very pleased to welcome an experienced executive of Russ’s caliber to the Altenergy team,” said Sutton. “As a recognized business leader who has spent most of his career in renewable energy, Russ’s deep experience in sales, operations and strategy will help us grow the solar business exponentially.”
Edwards brings more than 15 years of construction and renewables experience to Altenergy, including most recently serving as senior director of onshore project development at Orsted, ranked the most sustainable energy company in Corporate Knights Global 100 Index. In his role, Edwards oversaw utility scale solar and wind development in southeastern and western markets.
Prior to that, Edwards worked at Coronal Energy, a Charlottesville-based utility scale solar developer. He most recently served as vice president of development and focused on leading a team of project developers in more than 20 states. In 2019, Edwards successfully helped take the company’s solar development platform out to market, resulting in the successful acquisition by Orsted.
“Both Tiger and Altenergy have a longstanding rapport with their customers, prize excellent service and value a real commitment to the communities they serve. I couldn’t be more thrilled to come in at this juncture of two great companies,” said Edwards.
Altenergy has installed 21MWh of total PV capacity and over 1,700 projects nationwide. They recently celebrated 16 years in business and operate five branches in Charlottesville, Va.; Staunton, Va.; Washington, D.C.; Boise, Idaho; and Grand Rapids, Mich.
“Altenergy was built on innovation and service, and we are excited to be joining an organization that shares those values,” said Altenergy Vice President Matt Dunay. “We are eager to work with the Tiger Family to continue to imagine a solar future for our friends and neighbors throughout the communities we serve.”
A celebration of the partnership, including a commemorative signing of the acquisition agreement, will take place on Friday, May 21, at 12:30 pm at Tiger Fuel Company’s home office in Charlottesville, Va.
Founded in 1982, Tiger Fuel Company is a local, family operated full-service petroleum product distributor in Central Virginia, operating 10 state-of-the-art car washes known as TigerWash and nine gourmet-to-go convenience stores known as The Market.
Altenerg Inc. designs, builds and installs efficient solar energy systems to generate clean, renewable energy. The licensed solar contractor has branches in Virginia, Washington, D.C., Idaho and Michigan.