NovaSource Expands Lifecycle Services Platform with Acquisition of Heliolytics

AUSTIN, Texas, Jan. 5, 2022 /PRNewswire/ -- NovaSource Power Services ("NovaSource"), a global leader in solar operations and maintenance services, today announced it has acquired advanced aerial inspections and site data service provider Heliolytics, Inc. This strategic acquisition is highly complementary to NovaSource's existing O&M portfolio and strengthens the company's ability to offer best-in-class lifecycle services within the renewable energy sector.

NovaSource is the industry frontrunner in data-driven asset performance services, with 18GW+ currently under management. Frequent collaborator Heliolytics is the worldwide standard-bearer for aerial site inspection, site optimization, and advanced site analysis, with more than 100GW of global experience. The combined expertise and resources will provide the solar industry with the most comprehensive suite of lifecycle services, which are at the forefront of renewables operations and maintenance.

"The Heliolytics platform allows us to further expand our digital platform capabilities, creating a clear market leadership position," said Troy Lauterbach, CEO of NovaSource Power Services. "Our acquisition of Heliolytics creates enhanced economic value for customers by enabling high-fidelity issue detection, increasing asset energy yield. We are honored to join forces with the Heliolytics team."

"NovaSource is building an exciting platform to offer the next generation of solar lifecycle operations," said Heliolytics CEO and Co-Founder Rob Andrews. "We are thrilled to integrate with NovaSource as we both share the same vision of what the future of solar operations should be. Together, we have the capability to accelerate that vision and scale our existing and new service offerings, while continuing to offer our industry-leading third-party services, to provide more value to customers, globally."

Heliolytics, based in Toronto, Ontario, CAN, will continue as a standalone entity and will retain the Heliolytics name, branding, and personnel.

About NovaSource Power Services

NovaSource Power Services, a portfolio company of Clairvest Group Inc. ("Clairvest", TSX: CVG), is a global O&M services provider for renewable energy assets. NovaSource seeks to maintain a world-class culture of safety and integrity, while developing lasting partnerships with our customers and team members. As an independent, O&M-focused company, NovaSource is poised to offer even greater value in the design, maintenance, and management of our customers' projects. More information available at www.novasourcepower.com.

About Heliolytics, Inc.

Heliolytics, founded in 2014, and headquartered in Toronto, Canada, is the largest global provider of photovoltaic aerial inspections and advanced site data services to empower the next generation of solar. Our technology platform and advisory services help customers gain a deep understanding of how their solar fleet is performing throughout its life cycle. Our comprehensive solutions help ensure solar energy projects are optimized to yield expected returns in a way that maximizes power output performance and reliability of components, modules, and arrays while reducing portfolio risks and decreasing operational costs. Heliolytics strives to be the most trusted source of actionable insights enabling the long-term sustainability of our renewable energy partners by collecting and curating data, creating clarity from complexity, and expanding the frontiers of knowledge. To learn more, visit www.heliolytics.com.

SOURCE NovaSource Power Services