Energy & Sustainability Client Feature — BlueWave
This month, we are thrilled to feature BlueWave, a leading Boston-based solar and energy storage developer and certified B Corp. On May 12, 2022, BlueWave announced that a fund managed by Axium Infrastructure has acquired BlueWave. Under the terms of the acquisition, BlueWave will keep its name and entire team in place as the company focuses on the growth of its solar energy and storage development portfolio.
The acquisition marks an opportunity for BlueWave to evolve its business model to not only develop, but also build, own, and manage the projects within its development portfolio, driven by the company's belief in the long-term value of community-scale solar. With this, BlueWave will focus on hiring to support the transition to long-term asset ownership and build a team to support ongoing company growth. The acquisition also gives BlueWave the financial security to weather the development market and continue the pursuit of innovative development avenues.
With an intent to integrate Environmental, Social, and Governance (ESG) principles at the heart of its project development and management process, Axium's values align with BlueWave's mission to transform access to renewable energy through a responsible development philosophy. The acquisition will support BlueWave's industry-leading work in community solar development and the practice of agrivoltaics and floatovoltaics, which promise to generate clean energy while being mindful of land conservation and preserving neighboring ecosystems.
"This acquisition marks a pivotal new period in BlueWave's history. It was crucial for us to find a like-minded owner who shares in our mission to revolutionize renewable energy and to help us scale, and that partner is unequivocally Axium," said Trevor Hardy, CEO of BlueWave. "Axium's ownership will enable tremendous growth opportunities as we look to own and operate our development assets and continue pioneering in dual-use solar development, storage development and accessibility of renewable energy for low- to middle-income communities."
"BlueWave is thrilled to join forces with such a deeply committed, mission-driven, ESG investor. Axium and BlueWave share common values and purpose and are united in a vision for achieving significant growth, innovation, and impact in the climate battle. It's a wonderful match, and with the talent and resources Axium adds to the equation, I have every confidence we will achieve that vision," said John DeVillars, Co-Founder and Chairman of BlueWave.