CHARLOTTESVILLE, Va.—Tiger Fuel Company has acquired a 40% stake in Altenergy Inc., a solar energy company based in Charlottesville, Va., as the first step in what the propane, oil and gas distributor said will ultimately lead to acquiring all of the solar firm in March 2021.
The partnership began 18 months ago. Initially, Tiger partnered with Altenergy to provide solar power for its gourmet-to-go convenience stores, The Market. In July 2019, Tiger also extended a grant to the Charlottesville Day School in July 2019, supporting the installation of a 23.36kW roof-mounted solar electric PV system, to provide energy savings and educational opportunities to faculty and students.
Altenergy, a 15-year old company, has installed 21MWh of total PV capacity and more than 1,600 projects across the country. With a total of six branches, the company in April completed a 99.74kW solar array for the Hillside Ranch in Bellevue, Idaho. The company is licensed to operate as a solar contractor in Idaho, Maryland, Missouri, Michigan, Washington, D.C., and Virginia.
“Altenergy has always been focused on delivering the highest quality and most cost-effective energy projects to our customers. We share a commitment to doing the right thing for our customers, our employees and the communities we serve. This step will allow Altenergy to continue to adapt and create value for our customers, while increasing opportunities for our employees,” said Paul Risberg, the president and founder of Altenergy.
Regarding the acquisition, Gordon Sutton, president of Tiger Fuel, remarked, “I’d like to thank Paul Risberg, Matthew Dunay and Rob Cooke at Altenergy for the amazing partnership we have established in the last several years. Our companies are closely aligned, and we are committed to spearheading energy solutions that make our community a great place to raise families and grow businesses. As we expand, our goal is to be a leader in reducing our carbon footprint and achieving local climate action.”
Moving forward, Tiger Fuel also plans to build the latest of The Market stores in Boyd Tavern in Virginia, which will also use solar panels. Regarding the upcoming plans, Sutton commented, “This ties in nicely with Albemarle County’s Comprehensive Plan to protect the rural landscape, while also providing a tasteful and convenient spot to fuel up or get a gallon of milk.”
In January, Tiger Fuel announced a rebranding program for The Market stores and All American Car Wash locations. A new loyalty program, mobile app and online ordering system also were unveiled. NACS Daily shared Tiger Fuel employee efforts to install plexiglass safety shields at checkout stations in the c-stores in response to the COVID-19 pandemic. NACS Magazine featured The Market in “School Daze and Party Trays” in the July 2019 issue.