A fund managed by Axium Infrastructure has acquired BlueWave, a Boston-based solar and energy storage developer and certified B Corp. This will be Axium's first renewable development company acquisition.
Financial terms of the deal were not disclosed.
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. Following the deal, BlueWave will keep its name and team in place as the company focuses on the growth of its solar energy and storage development portfolio. However, the company will focus on hiring to support the transition to long-term asset ownership and build a team to support ongoing company growth.
“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 uneq