Growing, full-service energy intelligence firm helps large building owners use energy smarter, save money
CHICAGO–(BUSINESS WIRE)– Today, Chicago-based venture capital firm Sustainable Energy Investments became the major shareholder in GI Energy North America, divesting it from its European sister company in order to accelerate and focus its growth in on large commercial, retail and institutional facilities. The GI Energy parent group, based in Coventry, England and operating throughout Europe, remains a minority shareholder in GI Energy North America.
During the last two years, GI Energy North America, which has offices in New York, Chicago, San Francisco and Los Angeles, has quadrupled revenue. Large commercial buildings such as retail, healthcare and educational complexes tap the firm to help reduce their energy spends. GI Energy analyzes energy usage and creates unique solutions that leverage combined heat and power, ground source heat pump, and distributed energy resources.
“This investment will allow us to better serve our clients who seek to reduce risk and achieve greater economic and environmental sustainability by efficiently addressing the energy needs for their facilities,” says CEO Thomas Chadwick, who remains with the firm.
According to the Energy Information Administration’s short-term outlook this month, electricity prices in the commercial sector continue to rise. At the same time, wholesale energy pricing is increasingly decoupled from public utilities, thus increasing risk for large national building owners, chain store operators, and commercial real estate companies.
GI Energy is building a reputation for signature projects that combine energy analytics, engineering solutions, and construction, including a recent project for North Shore Towers, Long Island, and the completion of the Walgreen’s Net Zero Store in Chicago.
SEI brings growth capital and a proven network of connections in finance and commercial real estate to the growing company. Gaye Hill, Chair of SEI, says, “We are convinced that the US market is ready for an acceleration in the adoption of new energy technologies, but the market is void of companies with strong track records and coordinated approaches—GI is a solution and we look forward to seeing it scale.”