Viridity energy Australia

Is investing in Viridity Energy a good decision?

The acquisition of Viridity Energy by a larger company presents opportunities for expansion for the startup. However, the sale price, at first glance, may not be good news for its investors.

What are Viridity and Ormat?

Ormat is a major geothermal energy developer that has now acquired Viridity. Founded in 1965, Viridity is a company that specializes in software capability and has business lines. Ormat also specializes in waste heat recovery, a valuable source of distributed energy at industrial sites that could be targets of Viridity’s software.

What services does Viridity offer in Australia?

At Viridity, we offer small business accounting, virtual CFO, inventory bookkeeping, ecommerce accounting, and payroll services around Australia. Our accountants in Sydney and across Australia are committed to bringing financial and advisory services that create more value than they cost.

What is Viridity (in the article) ?

Viridity is a provider of white-labeled software to energy retailers such as Constellation, ConEdison Solutions and Engie Resources.

What happened to Viridity?

Viridity was sold for $35M to Ormat, with the acquisition expected to close in early 2017. Viridity will continue operations and retain current management and staff, as well as maintain all customer relationships and agreements. Over its eight years in business, Viridity has been involved in a variety of projects, tied together by the startup’s VPower software.

How much money did Viridity get from Altenergy?

Viridity raised about $8 million from initial investor Altenergy. This is the amount Altenergy invested in Viridity.