Tiger Fuel Company, a family-operated fuel distributor in Central Virginia, announced the completed acquisition of solar energy company Altenergy.
The acquisition builds upon an ongoing collaboration between the two companies in the last 2.5 years. Tiger partnered with Altenergy in 2018 to solar-power its gourmet-to-go convenience stores, The Market at Preston and The Market at Ruckersville, supplying more than half of each facility’s electrical needs. Tiger also extended a grant to Charlottesville Day School in July of 2019, supporting the installation of a 23.36-kW roof mounted solar electric PV system, to provide ongoing energy savings and educational opportunities to faculty and students.
“We founded Tiger on the principle that we would be malleable, welcome change and improve the communities that we serve,” said Gordon Sutton, president of Tiger Fuel Company. “Our fuel business isn’t going away any time soon, but there is no doubt that the energy landscape is changing. We welcome Altenergy to the Tiger Family and are excited to build a bright future together.”
Day-to-day operations will continue to be managed by the Altenergy team, with a gradual integration into Tiger’s back-end operations. The deal marks one of Tiger’s many steps in reducing its carbon footprint as a founding member of the Community Climate Collaborative’s Green Business Alliance. The local fuel supplier intends to add solar power to its four bulk heating plants as well as future real estate developments. Tiger recently appointed a new president, Russ Edwards, to accelerate the solar panel company’s long-term growth.
Altenergy has installed 21 MWh of total PV capacity and over 1,700 projects nationwide. They recently celebrated 16 years in business and operate five branches in Charlottesville, Virginia, Staunton, Virginia, Washington, D.C., Boise, Idaho and Grand Rapids, Michigan.
“Altenergy was built on innovation and service, and we are excited to be joining an organization that shares those values. We are eager to work with the Tiger Family to continue to imagine a solar future for our friends and neighbors throughout the communities we serve,” added VP of Altenergy, Matt Dunay.
A celebration of the partnership, including a commemorative signing of the acquisition agreement, will take place on Friday, May 21, at 12:30 pm at Tiger Fuel Company’s home office in Charlottesville.