Feb. 16—Solar installer Insource Renewables of Pittsfield has been purchased by Montville-based ReVision Energy in an agreement the two companies say will help meet the surge in demand for clean-energy solutions in Maine and accelerate the regional transition to renewable energy.
The two Maine-based, employee-owned companies said in a joint statement that the deal will help them tackle the regulatory and workforce challenges in Maine's rapidly expanding solar market, which has attracted several well-financed, national competitors.
Both companies are Certified B Corporations, which seek to balance profit and purpose, such as verified social and environmental performance standards.
ReVision declined to discuss terms of the sale, but called it a "friendly merger." The combined company will have a total workforce of roughly 295 in the three states in which it does business.
"While our two companies have been competitors for over a decade, we have always respected ReVision's work quality and have seen them as an ally in growing Maine's solar industry and in setting an example of the potential for business to impact positive change in the world," said Vaughan Woodruff, Insource's chief executive.
Woodruff, a former instructor and technical consultant for several national solar workforce initiatives, will lead and expand ReVision's training center, which helps workers become licensed master electricians.
"Workforce development is one of our industry's most pressing challenges," said Fortunat Mueller, ReVision's co-founder, "and we have high expectations that Vaughan will be able to help us address that issue by taking the helm of our homegrown ReVision Energy Training Center."
ReVision Energy operates five "decarbonization" facilities located in Montville; South Portland; Enfield; Brentwood, New Hampshire, and North Andover, Massachusetts. Since 2003, ReVision has installed more than 10,000 clean-energy systems in northern New England, including solar-electric systems, heat pumps, battery storage and electric vehicle charging stations.