Altus Power, Inc. and Shell Announce Collaboration on Sustainability Solutions

PVTIME – November 29, Altus Power, Inc., (“Altus Power”) a leading clean electrification company, and Shell New Energies US LLC (“Shell”) announced they will collaborate to bring integrated renewable energy and storage solutions to customers to help them reduce their carbon emissions and lower their energy costs.

The collaboration will leverage each firm’s respective strengths. Altus Power will bring its experience in creating clean electrification ecosystems, which includes solar generation, storage and community solar, while Shell will bring its capabilities in electric mobility, stationary battery storage, load management and renewable power supply. Together both companies will explore opportunities to develop fully integrated renewable energy supply and onsite energy services for customers as well as for property portfolios managed by CBRE Group, Inc. (“CBRE”). CBRE, the world’s largest commercial real estate services firm, has a strategic partnership with Altus Power, and CBRE Acquisition Holdings, Inc. (NYSE: CBAH), a special-purpose acquisition company sponsored by a subsidiary of CBRE, is in the process of completing a business combination with Altus Power that will result in Altus Power being a publicly traded company.

“Altus Power is excited to collaborate with large corporations like Shell in the development of integrated solutions that accelerate the transition to sustainable electricity supply for all customers,” said Lars Norell, Co-CEO of Altus Power. “We have a track record of partnering with large enterprise partners to serve the needs of the community and we look forward to finding the best solutions for our customers together with Shell.”

Elisabeth Brinton, Shell’s Executive Vice-President, Renewable & Energy Solutions, said, “Shell’s collaboration with Altus Power is another great example of how working together, we can make renewable energy an easy and practical choice for customers.”