Washington state-based Green Rebates – which has a business model focused on locating energy rebates for cannabis growers – finalized the acquisition of competitor Seinergy this month, in a deal that “will create the largest dedicated energy rebate platform for cultivators,” it said in a press release.
Terms of the purchase were not disclosed, but Green Rebates said it expects the acquisition to close this month, after which point Seinergy will operate as a wholly owned subsidiary.
The two companies combined have procured $135 million in energy rebates for marijuana growers spread across the U.S., according to the release, and Green Rebates CEO Dylan Collins projected that number will continue to grow after the merger.
“Green Rebates has experienced explosive growth over the past three years, and we’ve been strategically pursuing opportunities to accelerate this momentum, expand our reach to new growers and forge deeper partnerships with utility providers. Our acquisition of Seinergy allows us to do just that,” Collins said in the release.
Green Rebates by itself has obtained more than $75 million in power rebates for cannabis cultivators, the company said, up from $43 million earlier this year, and so far has completed more than 400 projects in 26 states, according to the company website.
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