"Quantum and its principals are energy industry leaders with a rich history of successfully deploying energy efficiency projects throughout the United States and Canada," said Chris Soderquist, Octus CEO. "When the transaction is completed, we believe the fusion of our companies, our capabilities, and our sales pipelines will significantly and immediately expand Octus's ability to develop energy efficiency projects. This will be a seminal step in Octus's growth as a leading developer of smart energy efficiency solutions."
Founded in 1974, Quantum was one of the first energy management companies in the United States to specialize in energy efficiency. Quantum's principals have executed more than 1,500 energy projects totaling more than $100 million in value for some impressive clients including ARCO, Bank of America, Blockbuster, Chevron, Delta Airlines, Frito Lay, Hewlett-Packard, Home Depot, Ikea, Nabisco, Pepsi, Petco, Safeway, Sears, Siemens, and University of California.
"Over the past three decades Quantum has helped evolve the energy-efficiency industry," said Quantum President Jim Collins. "Octus's project development approach -- including integration of innovative energy efficiency technologies and organization of creative project financing -- fills an unmet and rapidly expanding opportunity in the commercial building market space. In addition, we look forward to marketing the Octus Smart Energy Platform to Quantum's client base. The time to act is now, and together we are well poised to capitalize opportunities."
It will be interesting to see how Quantum effects the company’s revenues in the coming quarters but for now investors are liking the news as OCTI is trading at $0.14 up $0.06 or 75% on heavy volume of 92k.
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