Kitchener, Ontario – April 1, 2020 – Grand River Energy, a company focused on serving its customers with Distributed Energy Resources (DER’s) solutions in Ontario, is pleased to announce the purchase of common shares in Arcadian Projects located in Baden, Ontario, resulting in an affiliate intercompany relationship.
Arcadian Projects serves its customers with self-performing Industrial trades and Energy solutions. Both the Industrial and Energy divisions work across Waterloo Region and Ontario with a large and diverse list of clients including Automotive, Food & Beverage, Energy Generation, Education, Municipal, Regional, Manufacturing and Materials.
The Energy division of Arcadian Projects was very successful through Ontario’s “Feed-In-Tariff” program and has continued to serve clients in Net Metering, Energy Storage, Combined Heat & Power and Conservation projects. In 2017, Arcadian built Canada’s largest battery energy storage project in Ontario for the IESO Ancillary Services contract and continues to expand their electrical packaging and construction expertise for clients under Ontario’s Industrial Conservation Initiative. Luke Shantz, President of Arcadian Projects states, “Our Energy Division is very much aligned with GRE; we saw a great fit for Arcadian and its customers with GRE’s knowledge and experience in the Ontario energy market and their ability to commercialise and bring financial solutions to projects.”
Mike Savel, President of GRE, has focused on asset acquisition and development since joining the company in 2018, and comments, “With our interest in Arcadian, we are firmly stating our commitment to customers and shareholders to build the Services side of GRE. Todd Lorentz and Luke Shantz have built a very experienced and diverse team, who are the foundation of the company success. Combined, we will grow Arcadian Projects to the next level”.
About Grand River Energy Solutions (GRE)
GRE is a joint venture company, owned by the three utility holding companies; Cambridge and North Dumfries Energy Plus Inc., Kitchener Power Corp. and Waterloo North Hydro Holding Corporation. The mission of the generation and renewable energy solutions company is to help high energy load organizations reach their energy management goals, by providing access to advanced energy technology solutions, through tapping into the benefits of clean energy technology.