CHARLOTTESVILLE, Va.—Tiger Fuel Co., the family-operated fuel distributor in Central Virginia, has completed its acquisition of the solar energy company Altenergy Inc.
The acquisition follows an ongoing collaboration between the two companies over the past 2.5 years. In 2018, Tiger Fuel partnered with Altenergy to solar-power its gourmet-to-go convenience stores, The Market at Preston and The Market at Ruckersville, supplying more than half of each facility’s electrical needs. Last year, Tiger Fuel took a 40% stake in the solar power company. In addition, Tiger Fuel extended a grant to Charlottesville Day School in July 2019 to support installation of a 23.36kW roof- mounted solar-electric PV system.
“We founded Tiger on the principle that we would be malleable, welcome change and improve the communities that we serve,” said Gordon Sutton, president, Tiger Fuel. “Our fuel business isn’t going away any time soon, but there is no doubt that the energy landscape is changing. We welcome Altenergy to the Tiger Family and are excited to build a bright future together.”
Day-to-day operations of the solar company will continue to be managed by Altenergy’s team, with a gradual integration into Tiger’s back-end operations. Tiger is a founding member of the Community Climate Collaborative’s Green Business Alliance, and the acquisition marks one of the company’s many steps in reducing its carbon footprint. Tiger will add solar power to its four bulk heating plants, as well as future real-estate developments. Russ Edwards was named the new Altenergy president to accelerate the solar panel company’s long-term growth.
Altenergy, which recently celebrated 16 years in business, operates five branches in Charlottesville, Va.; Staunton, Va.; Washington, D.C.; Boise, Idaho; and Grand Rapids, Mich. The company has installed 21MWh of total PV capacity and concluded more than 1,700 projects nationwide.
To celebrate the partnership, a commemorative signing of the acquisition agreement will take place at 12:30 p.m. on Friday, May 21 at the Tiger Fuel home office in Charlottesville.
Early last year, Tiger Fuel announced a rebranding program for The Market stores and All American Car Wash locations. NACS Magazine featured The Market in “School Daze and Party Trays” in the July 2019 issue.
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