Intertek to strengthen global sustainability offering with acquisition of Clean Energy Associates, a market-leader in solar energy technical and assurance solutions
July 29, 2022
- Solar power is expected to become the largest source of renewable energy globally, driven by the unstoppable momentum behind decarbonisation, greater energy sustainability and security
- With the pace of decarbonization intensifying and the regulatory environment becoming more complex, Intertek has entered into an agreement to acquire Clean Energy Associates, a market-leading independent provider of quality assurance, supply chain traceability and technical services to the solar energy and energy storage sectors
- Acquisition presents a compelling strategic fit and opportunity to expand Intertek’s service offering within the World of Energy to provide Total Quality Assurance (TQA) solutions for solar photovoltaic (“PV”) and energy storage products and installations
- CEA’s service offering is highly complementary to Intertek’s existing solar energy offerings in product testing and certification and in-field inspections, creating a truly end-to-end value proposition in the solar energy value chain for customers globally
Intertek, a leading Total Quality Assurance provider to industries worldwide, is pleased to announce that it has entered into an agreement to acquire Clean Energy Associates (“CEA”), a market-leading independent provider of quality assurance, technical services, supply chain traceability and downstream engineering support for the solar energy and energy storage industries.
As the transition of energy supply chains accelerates and companies re-invent the way they manage their sustainability agendas, the growth opportunities within the World of Energy are truly exciting. To meet the expected increase in global energy demand as populations grow, while at the same time reducing greenhouse gas emissions, the world will need a significant increase in energy production from a variety of sources in the short, medium and long term.
CEA, established in 2008, boasts a successful track record of photovoltaic (PV) and energy storage projects across more than 65 countries and delivers a range of services along the solar energy value chain. These include inline production monitoring and quality assurance, supply chain management and traceability as well as technical support. With key operating locations in the USA and China, its subject matter experts deliver worldwide services in support of solar project developers, engineering, procurement and construction companies (EPCs), financiers, power plant owners and independent power producers (IPPs) as they navigate their decarbonization and energy sustainability journeys.
The acquisition of CEA will complement not only Intertek’s global network of industry experts, but also the company’s existing Total Quality Assurance services such as product testing and certification, in-field inspections, asset management and condition monitoring. This dynamic combination will allow Intertek to further strengthen and expand support to solar energy stakeholders and help them mitigate risks across the PV and energy storage lifecycle. CEA will also benefit from Intertek’s global network and customer base, facilitating expansion opportunities into new geographies.
Andre Lacroix, Chief Executive Officer of Intertek, said: “For more than 135 years Intertek has been an integral partner to the energy industry. Standing true to our commitment to support global energy companies as they navigate the challenges and opportunities before them, Intertek is pleased to expand our pioneering sustainability service offering in the fast-growing, structurally attractive quality assurance market for solar energy.
At Intertek, we are a global force for good in helping the world to lower its carbon intensity as part of the sprint to Net Zero. As the solar energy market expands, the pace of decarbonisation intensifies and the regulatory environment becomes more complex, it is clear that demand for mission-critical, end-to-end Total Quality Assurance (TQA) solutions will continue to grow.
We look forward to welcoming the CEA team to Intertek and working together to seize the attractive opportunities ahead by supporting our clients on their sustainability journeys with our industry-leading ATIC (Assurance, Testing, Inspection, Certification) solutions.”
More information is available here: https://www.intertek.com/investors/cea-video/
For further information please contact:
Denis Moreau, Investor Relations
Telephone: +44 (0) 20 7396 3415
Jonathon Brill/James Styles, Dentons Global Advisors
Telephone: +44 (0)20 7664 5095
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