Tiger Fuel Acquires Solar Energy Company

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Tiger Fuel Acquires Solar Energy Company

06/12/2020

CHARLOTTESVILLE, Va. — Tiger Fuel Co. acquired 40 percent of the shares of fellow Charlottesville-based Altenergy Inc., a solar energy company. This is the first step in a planned acquisition of the entire company in March 2021.

The companies have been collaborating for the past 18 months. Tiger Fuel first partnered with Altenergy to power its gourmet-to-go convenience stores, The Market at Preston and The Market at Ruckersbille, supplying half of each location's electrical needs via solar energy.

The convenience store retailer also extended a grant to Charlottesville Day School in July 2019, supporting the installation of a 23.36kW roof-mounted solar electric PV system to provide ongoing energy savings and educational opportunities to faculty and students.

"I'd like to thank Paul Risberg, Matthew Dunay and Rob Cooke at Altenergy for the amazing partnership we have established in the last several years," said Gordon Sutton, president of Tiger Fuel. "Our companies are closely aligned and we are committed to spearheading energy solutions that make our community a great place to raise families and grow businesses. As we expand, our goal is to be a leader in reducing our carbon footprint and achieving local climate action."

To date, Altenergy has installed 21MWh of total PV capacity and more than 1,600 projects nationwide. It recently celebrated its 15th anniversary in business and now operates 16 branches in Charlottesville; Staunton, Va.; Maryland; Missouri; Michigan; and Idaho. In April, it completed the installation of a 99.74kW solar array for Hillside Ranch, a large hay and grain farm in Bellevue, Idaho.

"Altenergy has always been focused on delivering the highest quality and most cost-effective energy projects to our customers," said Paul Risberg, president and founder of Altenergy. "We share a commitment to doing the right thing for our customers, our employees and the communities we serve. This step will allow Altenergy to continue to adapt and create value for our customers, while increasing opportunities for our employees."

The partnership between Tiger and Altenergy coincides with the c-store retailer's plans to deepen its local roots with a proposed build of The Market at Boyd Tavern, where it intends to install solar panels.

"This ties in nicely with Albemarle County's Comprehensive Plan to protect the rural landscape while also providing a tasteful and convenient spot to fuel up or get a gallon of milk," Sutton said.

Charlottesville-based Tiger Fuel is a locally owned and family operated full-service petroleum product distributor in central Virginia. It operates nine gourmet-to-go c-stores known as The Markets and 10 car washes. It also represents Exxon, Shell, BP, CITGO and its own private label, Excel.