Record Quarterly Adjusted EBITDA Growth
Achieved a record quarterly adjusted EBITDA growth of 6.4% compared to the first quarter of last year, driven by robust performance in storage and product segments.
Significant Energy Storage Segment Growth
Energy storage segment revenue increased by nearly 120% in the first quarter, mainly due to new facilities and strong merchant prices in the PJM market.
Geothermal Expansion and Acquisition
Signed an agreement to acquire the 20 MW Blue Mountain geothermal power plant for $88 million and plan to upgrade it with an additional 3.5 MW by 2026.
Strong Product Segment Revenue Increase
Product segment revenues increased by 27.9% to $31.8 million during the first quarter, driven by a strong backlog.