TORONTO--(BUSINESS WIRE)--Forum Equity Partners (“Forum”) and Vostro Energy Solutions Corporation (“Vostro Energy”) announce today that they have partnered to create Forum Vostro Energy Services Inc. (“FVES”).
FVES will build, own, manage and operate an innovative portfolio of distributed on-site energy assets, to provide predictable, transparent and low-cost energy to commercial and industrial consumers, while also enhancing the resiliency of their operation.
FVES’s state-of-the-art energy solutions are both economically and environmentally sustainable for consumers who are facing energy costs that are growing faster than the pace of inflation. These solutions will also enhance resiliency for critical operations of FVES customers at times of extreme weather events. Unlike centralized power generation, distributed on-site energy relies on smaller power-generation systems, which can be installed at homes, businesses, manufacturing sites and communities. FVES’s initial focus, however, will be on large business, industrial and institutional customers with steady need for both electrical and thermal energy.
“Forum as a principal investor and asset manager, is committed to identify and make investments in sustainable energy portfolios. We believe FVES will create an agile and innovative platform to do just that,” said Richard Abboud, Chief Executive Officer of Forum Equity Partners.
“We are pleased to have the opportunity to work with Atul Mahajan, the founder of Vostro Energy Solutions. Atul is a seasoned energy industry executive, with extensive experience in managing utility assets and more importantly embracing and adopting new distributed energy technologies, such as cogeneration, microGrids and solar plus storage. We were impressed to note his efforts over the past several months in qualifying and developing a project pipeline of over $100 million, out of an estimated over $3 billion opportunity in the Ontario market alone. We welcome his taking the charge at Forum Vostro Energy Services Inc. in building our successful distributed on-site energy services platform,” continued Mr. Abboud.
“I am looking forward to working with the entrepreneurial team at Forum who have an extensive track record of timely assessing and executing on innovative investment opportunities. With a significant financial partner like Forum Equity, FVES has an excellent opportunity to successfully pursue distributed energy projects. We will use sustainable and efficient technologies such as co-generation and solar plus storage to provide energy services that are designed with a focus on our customer’s needs, rather than a technology first approach. I am also pleased that Forum shares my vision and approach that can also be complementary to the energy utilities industry,” said Atul Mahajan, Chief Executive Officer of Vostro Energy Solutions Corporation.
Led by Atul Mahajan, CEO of Vostro Energy, FVES will maintain its headquarters in Toronto, ON where it will also be supported by Forum’s team of professionals.
About Forum Vostro Energy Services Inc.
“An innovative and a respectable forum for collaboratively and sustainably solving the energy user’s challenges”
Forum Vostro Energy Services Inc. (FVES) is a newly formed company to leverage financial and operating strengths of its two founders, Forum Equity Partners and Vostro Energy Solutions Corporation. FVES will build, own and operate a portfolio of sustainable distributed on-site energy generation assets to provide predictable, transparent and low cost energy to commercial and industrial consumers, while also enhancing the resiliency of their operation.
About Forum Equity Partners
Forum Equity Partners is a privately owned alternative investment management and development firm with a focus on assets in renewable energy, infrastructure and real estate with approximately $1.3 billion in assets under management. Headquartered in Toronto, ON with additional offices in Vancouver, BC and San Francisco, CA, Forum is committed to achieving aggressive growth through its investment in rapidly emerging new markets and industries with innovative, new investment approaches and programs.
About Vostro Energy Solutions Corporation
Vostro Energy Solutions Corporation is a new company formed by Atul Mahajan, to leverage his extensive energy industry experience and entrepreneurial spirit to design energy solutions with “consumer-first” approach. Provide higher energy resiliency at lower costs. Atul has keen interest, knowledge and experience, in developing, building, financing, constructing and commissioning distributed energy infrastructure projects.