CPE Media News – pcJournal (7/4/2018) – Spark Power Corp., a leading independent electrical power services and solutions company, has acquired Bullfrog Power. Financial terms were not disclosed.
Bullfrog Power was started and backed by Greg Kiessling and Tom Heintzman in 2004.
On June 11, 2018, Spark Power Corp. and Canaccord Genuity Acquisition Corp. (CGAC) entered into a merger agreement which will constitute as CGAC’s qualifying acquisition.
Spark Power, its subsidiaries, and Bullfrog will continue to operate under their respective brand names and Bullfrog’s management team will remain as key members of the Spark Power team.
photo credit: Bullfrog Power
News Release
Canaccord Genuity Acquisition Corp. Announces Spark Power Acquisition of Bullfrog Power
TORONTO, ONTARIO, CANADA – July 4, 2018 – Canaccord Genuity Acquisition Corp. (“CGAC”) is pleased to announce that Spark Power Corp. (“Spark Power”), a leading independent electrical power services and solutions company, has acquired Bullfrog Power (“Bullfrog”). On June 11, 2018, CGAC announced its proposed merger (the “Merger”) with Spark Power. The Merger will constitute CGAC’s qualifying acquisition.
Bullfrog, based in Toronto, Ontario, is Canada’s leading green energy provider, offering renewable energy solutions that enable individuals and businesses to reduce their environmental impact, support the development of green energy projects in Canada and help create a cleaner, healthier world. Since inception, Bullfrog has put more than three million MWh of green electricity on the grid, injected more than six million GJ of green natural gas on the pipeline and put more than 700,000 litres of green fuel onto the Canadian fuel system. Bullfrog has supported more than 140 community-based green energy projects across Canada and has displaced more than one million tonnes of carbon dioxide from the environment.
“The race to develop both grid connected and ‘behind-the-meter’ distributed energy resources is gaining momentum,” said Andrew Clark, co-CEO, Spark Power. “The addition of Bullfrog to the Spark Power Group of Companies gives us an integrated capability and depth of expertise to deliver affordable and sustainable power solutions to the largest power users and utilities markets in North America.”
“By combining with Spark Power, we are able to expand and evolve our solutions offerings to now empower Canadians to conserve, generate or store energy at home or with their business – while helping to build a healthier energy system for future generations,” said Ron Seftel, CEO, Bullfrog Power. “In addition to providing green electricity, green natural gas and green fuel – we will offer innovative solutions that leverage emerging markets and technologies. Consumers want it; the environment needs it; economic forces are driving it – we are pleased to be joining the Spark Power Group of Companies to continue to meet the needs of Canadians.”
Spark Power, its subsidiaries, and Bullfrog will continue to operate under their respective brand names and Bullfrog’s management team will remain as key members of the Spark Power team.
About Canaccord Genuity Acquisition Corp.
CGAC is a special purpose acquisition corporation incorporated under the laws of the Province of Ontario for the purpose of effecting an acquisition of one or more businesses or assets, by way of a merger, amalgamation, arrangement, share exchange, asset acquisition, share purchase, reorganization, or any other similar business combination involving CGAC.
About Spark Power Corp.
Spark Power is a leading independent electrical power services and solutions company serving more than 4,500 industrial, commercial, institutional, renewable and agricultural customers, as well as utility markets including municipalities, universities, schools and hospitals across North America. For more information, visit us at www.sparkpower.ca.
About Bullfrog Power
Bullfrog Power, Canada’s leading green energy provider, offers renewable energy solutions that enable individuals and businesses to reduce their environmental impact, support the development of green energy projects in Canada and help create a cleaner, healthier world. As a Certified B Corporation, Bullfrog Power meets higher standards of social and environmental performance, transparency, and accountability. Thousands of individuals and businesses in Canada are doing their part to address climate change and air pollution by choosing green energy with Bullfrog Power. For more information, visit www.bullfrogpower.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Canaccord Genuity Acquisition Corp.
Brad Cameron
Chairman and Chief Executive Officer
bcameron@canaccordgenuity.com
Spark Power Corp.
Jason Sparaga Co-CEO
jsparaga@sparkpower.ca
Andrew Clark
Co-CEO aclark@sparkpower.ca