ConnectM acquires Green Energy Gains in all-stock transaction

ConnectM Technology has signed a definitive agreement to acquire Green Energy Gains. The Company’s acquisition of Green Energy Gains is the second strategic acquisition since the Company’s public listing, validating management’s commitment to its operating plan. ConnectM has entered into a Purchase Agreement with the owners of Green Energy Gains, whereby the Company has acquired all of the issued and outstanding capital stock of GEG in an all-stock transaction. The transaction was completed on October 9, 2024. The Green Energy Gains operating model includes home energy assessments and modeling, and identification of weatherization opportunities for the home in order to reduce the homeowner’s utility bills. ConnectM’s core business model relies on an inorganic growth strategy. Green Energy Gains, as a strategic acquisition, strengthens ConnectM’s portfolio and is expected to expand the customer base for its proprietary electric heat pump, offering a suitable solution for homeowners after no cost home energy assessments. The acquisition serves as an entry point for the HEA flywheel, providing whole home electrification solutions and unlocks the world of rebates and incentives for electrification. Green Energy Gains also brings a local partner ecosystem consisting of HVAC contractors which will serve as a distribution channel for ConnectM heat pumps and pave a path for potential future Master Service Agreements.