Franklin Energy has finalized the acquisition of Cultivate Energy Optimization, a full-service energy management firm heavily rooted in the cannabis industry.
“Indoor agriculture is a relatively untapped, emerging market with enormous energy-saving potential,” said Jim Madej, CEO of Franklin Energy. “The wealth of industry experience that Cultivate brings to our team will be extremely valuable as we continue expanding solutions that meet our clients’ needs.”
“Franklin Energy maintains a strong position in the utility industry and is committed to innovation and solution development to continue enhancing their offerings,” said Eric Stern, co-founder of Cultivate Energy Optimization.
“We look forward to what this acquisition brings to both the indoor agriculture sector and power industry in the years to come,” said Joe Sullivan, co-founder of Cultivate Energy Optimization and the firm’s Technical Director, who has joined the Franklin Energy team.
The indoor agriculture market is set to grow at a compound annual growth rate of more than 9% through 2025, according to recent market analysis. As a result, the indoor agriculture industry is projected to account for an increasingly sizable portion of U.S. energy demand during the coming years.
"Today’s acquisition will enable Franklin Energy to bring Cultivate Energy Optimization’s decades of experience, strong networks, and innovation solutions to bear for the company’s customers in one of the fastest-growing sectors of the economy."
For more information:
Franklin Energy
102 North Franklin Street, Port Washington, WI 53074
(866) 735-1432
[email protected]
franklinenergy.com