A Philadelphia-based energy tech startup is being acquired by a Nevada-based geothermal and renewable energy company for an initial consideration of $35 million,the companies announced Tuesday.
Publicly held Ormat (NYSE: ORA) signed an agreement to buy Viridity Energy, a private company based at Ten Penn middle in middle City, or with the aim of bringing on Viridity's proprietary SaaS platform that manages energy demand,demand response and battery storage.
Shareholders will receive $35 million at…
Source: bizjournals.com