BlueWave Announces Successful B Corp Recertification and Conversion to Public Benefit Corporation Showcasing Continued Commitment to Public Good

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Jan 29, 2024, 09:07 ET

Boston-based solar and battery storage developer and owner/operator BlueWave proudly continues to meet rigorous environmental and social standards that exemplify the company's core values.

BOSTON, Jan. 29, 2024 /PRNewswire/ -- As evidenced by a successful B Corp recertification and conversion to a Public Benefit Corporation (PBC), BlueWave – a leading solar and battery storage developer, owner, and operator in the U.S. – has met thorough standards that solidify its commitment to stakeholders including employees, communities, customers, suppliers, and the environment.

As a mission-driven company that is committed to transparency, sustainability, and improving the lives of others, these designations build upon the values that are the foundation of the entire BlueWave operation. In addition to its own commitment, there is now a legally binding obligation that further holds BlueWave accountable to protecting the planet and transforming access to renewable energy.

"As a company working to make the world more sustainable, we carefully consider every decision we make to ensure a positive impact for the wider community and for our team," shared Trevor Hardy, CEO and Co-Founder of BlueWave. "We pride ourselves on our ability to be held accountable to our key stakeholders and work to exceed those set expectations every day."

BlueWave has recertified as a B Corp with a score of 113.6 meeting even more rigorous and ever evolving environmental and social standards. Over the last three years, BlueWave has added to its clean energy project pipeline, expanding their agrivoltaics (or "dual-use") portfolio, which is an innovative development approach that protects the agricultural use of land while also supporting the production of clean energy. Additionally, several projects have increased BlueWave's customer base by providing low-income residents across the New England region with access to renewable energy, through energy bill savings generated by community solar projects.

In addition to maintaining B Corp status, BlueWave has converted to a Public Benefit Corporation (PBC) – a for-profit corporation required by law to pursue a public benefit based on a solid foundation of social and public good. Each aspect of the organization will operate in a responsible and sustainable manner as intended by company leadership and by law. A conversion that reflects the continued focus of BlueWave being a force for good.

"As part of Axium Infrastructure's ESG focused family, BlueWave is accountable at multiple levels, further proving our commitment to our communities, our employees, and the environment," noted Mark Sylvia, Chief of Staff at BlueWave. "We will continue to hold ourselves to the highest standards as we work to meet our collective clean energy goals and protect our planet."

To learn more about BlueWave, visit bluewave.energy.

About BlueWave: BlueWave's mission is to protect our planet by transforming access to renewable energy. As a pioneering renewable energy company that develops and owns solar and battery storage projects, BlueWave has a long track record of success and is developing several gigawatts of solar and battery storage projects throughout the United States to ensure our grid is reliable and efficient in a clean energy future.

BlueWave is proud to be a certified B Corp, recognized by B Labs as "Best in the World" in Governance.

About Axium Infrastructure Inc.: Axium Infrastructure (comprised of Axium Infrastructure Inc. and its affiliated entities) is an independent portfolio management firm dedicated to generating long-term investment returns through investing in core infrastructure assets. Axium Infrastructure had over US$8.2 billion in assets under management as of September 30, 2023, as well as approximately US$1.4 billion in co-investments. With offices in Montreal, Toronto, Vancouver, New York, and London, the firm benefits from the capabilities of a group of specialists with decades of experience acquiring, developing, financing, operating, and managing infrastructure assets. Focus is placed on assets that are supported by robust market demand and under long-term contract with creditworthy counterparties. Since 2010, the firm has invested in a diversified portfolio of over 260 infrastructure assets.

SOURCE BlueWave