Ontario Teachers’ and IFM Investors officially take ownership of Enwave today. The sale was announced in February 2021 and today marks the close of the transaction and the beginning of a new era of opportunities for the company.
Concurrent with the completion of the transaction, Carlyle Coutinho has been named Enwave’s new CEO. Coutinho has held various positions with Enwave since 2013, most recently as President, North America.
“Our new owners are investing in Enwave as a platform to meet the growing demand for low-carbon energy solutions across North America,” said Coutinho. “Our work has not only helped our customers meet their low-carbon energy needs, but contributed to a cleaner, more sustainable future. We look forward to continuing to grow the platform in the years to come.”
Whether it’s capturing and reusing waste heat from sewers, developing an ice battery to utilize off-peak renewable energy, or integrating renewable electricity solutions into community energy grids, Enwave’s projects are customized to maximize the benefit for customers and provide flexibility to evolve into the future.
“We are excited to reach this milestone and pleased to be at the forefront of accelerating the energy transition via capital deployment in such critical sustainable infrastructure. Enwave’s focus on delivering innovative, sustainable cooling and heating solutions to customers is well-aligned with IFM’s net-zero commitments. We are confident that Enwave’s established track-record and capable leadership team coupled with robust institutional backing will help accelerate Enwave’s expansion into both new and existing markets,” said Kyle Mangini, Global Head of Infrastructure at IFM Investors.
Building on the business’ strong foundation, Enwave is focused on executing an expansion strategy based on scaling their low-carbon solutions in both existing markets and new geographies, with a focus on the United States and Canadian markets.