Albireo Energy Publishes 2023 ESG Report
Edison, N.J., July 9, 2024 – Albireo Energy, a leading independent building controls and energy services provider and Huron Capital portfolio company, announced the publication of its third annual Environmental, Social and Governance Report. The report provides more information on the performance and management of Albireo Energy’s commitments to address environmental, social and governance priorities, while building long-term value for the company’s stakeholders. The 2023 ESG Report is available on the company’s website.
“At Albireo Energy, we help building owners and their teams make their mission critical buildings work more efficiently, productively and in line with their sustainability goals,” said Larry G. Wash, CEO of Albireo Energy. “With such a significant opportunity to make buildings more responsible and resilient, sustainability has never been more important to us and our customers. It’s vital to how we engage our employees, operate our business and serve our customers.”
Highlights from the Albireo Energy 2022 ESG Report include:
- Expanding the Albireo Energy Sustainability Solutions portfolio, recognizing that 75% of the company’s gross revenue is directly attributed to helping customers address sustainability goals.
- The Albireo Energy Sustainability Solutions portfolio delivered $14M in energy cost savings for building owners in 2023 which translates into cost-savings of nearly 61K MWh of electricity usage and nearly 835K therms of natural gas consumption.1 Energy reduction and renewable energy procurement resulted in an estimated 25,000 MTCO2e of avoided emissions for Albireo Energy’s customers.1
- Completing an environmental operating baseline to address the environmental footprint of Albireo Energy’s operations — using the company’s proprietary Utility Module technology for efficient data collection. Albireo Energy committed to converting at least 75% of its fleet – the greatest emissions contributor – to hybrid vehicles.
- Growing the company’s remote services footprint, offering customers in some of the company’s largest markets the option to troubleshoot system issues without technicians driving to their locations.
- Achieving Certified™ by Great Place to Work® for the sixth year in a row. Plus, as part of the company’s winning culture, 180 employees awarded their peers with Shining Star recognitions for their exceptional customer contributions.
- Receiving 14 master and platinum awards from suppliers in recognition of expertise in building automation and power management.
- Continuing to strengthen governance practices including instituting ESG governance practices, formalizing management plans to reduce supply chain risk and bolstering cybersecurity policies and training.
“Our 2023 ESG Report reflects our commitment to building a sustainable business for all of our stakeholders and we are grateful to our employees for their unwavering dedication,” said Perri Richman, Chief Marketing and Sustainability Officer of Albireo Energy. “We recognize that ESG is a continuous journey, making our business stronger and more resilient. While we are pleased with our progress, and know we have more work to do to make even greater strides in 2023.”
The 2023 ESG Report references the Global Reporting Initiative, relevant sector standards from the Sustainability Accounting Standards Board and the United Nations Guiding Principles. To read Albireo Energy’s 2023 ESG Report, please visit our website.
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About Albireo Energy
Albireo Energy is a leading independent building controls and energy services provider recognized by customers for creating intelligent, high-performance buildings. We help building owners and their teams make decisions about building automation that achieves operating performance, decarbonization and sustainability goals. Because we’re technology agnostic, we see buildings in a different way. By understanding the mission of a building portfolio, our team of building performance experts designs and delivers technology and service solutions that give you maximum control of your data centers, offices, hospitals, universities, manufacturing, multi-use sites. Our work begins with engineering, project planning and exceptional execution, and extends through maintenance, monitoring, analytics and energy procurement services. At Albireo Energy, our promise is to stay connected. For more information, visit https://albireoenergy.com
About Huron Capital
Huron Capital brings a people-first and thematic approach to private equity investing in secularly relevant and fragmented sectors of the North American services industry. We pride ourselves on an unwavering commitment to candor, trust, accountability, and transparency in our relationships with management teams, investors, advisors, and employees. Founded in Detroit in 1999, we partner with entrepreneurs and management teams, empowering their companies to new levels of excellence. We provide resources to help companies grow by professionalizing operations, improving service offerings, executing M&A strategies, and accessing new markets. Huron Capital has managed over $1.8 billion on behalf of a global institutional investor base. We fulfill our commitment to all stakeholders by employing a repeatable playbook to drive thoughtful value creation, showcased in over 250 acquisitions since the firm’s inception.
1 In 2023, Albireo delivered over 5,000 projects with one or more sustainable services. For services that improve energy efficiency, Albireo Energy calculated the estimated energy cost-savings for each project. The cost-savings were calculated based on industry studies on return-on-investment for building efficiency upgrades, studies and reports on implemented technologies, and Albireo Energy’s experience as an energy services provider. Each service was estimated to provide varying cost-savings, which were calculated as a percentage of the gross revenue assumed to deliver direct impact. This methodology and actual calculations were reviewed by a third-party expert in environmental impact calculations. Our environmental impact calculations are preliminary, unaudited, and subject to revision.
