Horticulture-focused energy rebate and incentive company Green Rebates has entered an agreement to acquire Seinergy, a company delivering energy rebates to indoor horticulture customers across North America.
The goal behind the acquisition, announced Wednesday, is to create a large dedicated energy rebate platform for cultivators by combining Green Rebates' horticulture expertise with Seinergy’s experience in energy incentives and policy for cannabis growers. The transaction is expected to close in Dec. 2024, upon which Seinergy will operate as a wholly owned subsidiary of Green Rebates.
“Green Rebates has experienced explosive growth over the past three years, and we’ve been strategically pursuing opportunities to accelerate this momentum, expand our reach to new growers and forge deeper partnerships with utility providers," stated Dylan Collins, CEO of Green Rebates. "Our acquisition of Seinergy allows us to do just that."
“My longstanding relationship with Bob Gunn has given me firsthand insight into his exceptional industry expertise. Seinergy’s unwavering commitment to customer success and core values mirror our own,” Collins added. “Integrating Seinergy into the Green Rebates family represents a significant milestone in our company’s journey, one that we're confident will create new opportunities for growth for our combined customer base.”
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Under this strategic combination, Seinergy's customers will gain access to Green Rebates' innovative financing solutions for select projects. The acquisition will allow both companies to deliver an expanded suite of services, enabling growers flexibility to optimize their operations.
"I'm excited to work with Dylan and his team at Green Rebates to help our customers execute on their energy efficiency projects more quickly and with less cash out of pocket," Bob Gunn, Seinergy's founder and CEO said in a statement. "Our combined utility and rebate expertise will empower both brands to maximize relationships, strengthen negotiations and scale—ultimately ensuring our customers are getting the greatest rebate values possible."
Green Rebates and Seinergy have secured a combined $135 million in rebates for growers throughout the country to date and, according to Collins, this value is expected to climb upon the acquisition’s close.
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Photo: Lindsay Fox and T