For immediate release
Premier Energy Holdings Inc. Acquires the Assets and Intellectual Property of SunTech Drive, LLC
September 9, 2020
Frederick CO. – Premier Energy Holdings Inc. (“PEH”) announced today that it has completed the acquisition of the assets and Intellectual property of SunTech Drive, LLC, effective August 7, 2020.
PEH was formed by Premier Manufacturing and Supply Chain Services, Inc. (“PMSCS”) and UPC Capital Ventures, LLC (“UPC”) to facilitate the transaction. Edmond Johnson, CEO of PMSCS and PEH, said: “This acquisition comes at a very important time in our growth and diversification strategy, leveraging the combined strengths of emerging renewable technology that provides efficiency and robust, quality manufacturing that is made in Colorado.”
According to John Wallington, Managing Director of UPC, “We continue to be major proponents of the potential that SunTech technology brings to both the off-grid and micro-grid energy space via their patented power controller and power blending solutions. Investing in and promoting energy-tech startups is a key element of the UPC strategy which seeks to identify market opportunities and synergies for these technologies within our rapidly expanding global renewable energy asset portfolio.”
PEH will relocate to the PMSCS facility in Frederick, CO. PEH has partnered with Thunderbird Solar Supply, LLC as its channel partner for the agricultural, aquaculture, and micro-grid markets. “Thunderbird is owned and operated by two former sales executives of SunTech Drive, so they understand the product and have established relationships in these markets, providing PEH a relatively seamless transition,” according to Michael Steingrebe, COO/CFO of PEH and PMSCS.
Nikola Milivojevic, former founder and CTO of SunTech Drive and who is now the CTO of PEH, feels that “This acquisition provides additional resources giving us the ability to expand product capabilities beyond Solar to encompass other energy management applications and quickly move into other energy markets.”
About Premier Energy Holdings, Inc. The SunTech intelligent power conversion products are designed to deliver the capability and capacity to optimize operation of electric motors using any source of electricity anywhere in the world. The company’s patented and patent pending intelligent blending of DC power (solar, wind, etc.) and AC power (grid or generator) allows for maximum motor performance balanced with energy cost-efficiency and enables standard AC motors to run directly from DC power sources in off-grid applications. As the power generation market continues to diversify power plant technology (solar, wind, hydroelectric, etc.) and decentralize generation, combined with improvements in energy storage, the company’s drive/conversion technology provides for intelligent, optimized, cost-efficient energy consumption: the critical third component of a complete renewable energy model (generation – storage – consumption). By positioning the control at or near the point of consumption, utilities, smart building management systems, and stand-alone power consumption applications are able to gain maximum efficiencies through the blending of macro conditions with local variables real-time, helping to maintain generation stability and resiliency.
About Premier Manufacturing and Supply Chain Services, Inc. A minority, African American-owned contract manufacturer with expertise in printed circuit board assembly and full box build assembly. Since beginning operations in 1999, the company has grown into a leading contract manufacturer in the Rocky Mountain region. Premier’s success with its customers, suppliers, and employees has been built upon foundational principles and values of honesty and integrity. The company has successfully positioned itself as one of the few contract manufacturers to offer a full range of supply chain services, adding value by increasing speed to market and driving competitive positioning for customers. Premier solves customers’ most challenging problems better, faster and more cost effectively than any competitor.
About UPC Capital Ventures, LLC, Owned & funded by partners from the UPC Group, UPC invests in businesses that complement and promote the ideals of the UPC Group and its principals. Areas of focus include Energy Technology, FinTech & Energy Efficiency & Environment (Sustainability, Water resource management etc.) and in both consumer and industrial sectors. Utilizing Group funds and augmented by the Investment relationships built up over many years of financing substantial Wind & Solar projects, UPC Capital Ventures has to-date invested in a growing portfolio of both start up and growth businesses in the US and internationally. UPC Capital Ventures was founded by the CEO and President of the UPC Group, Brian Caffyn and by Managing Partner John Wallington in January 2014, with offices in both Boulder, CO and Fort Lauderdale, FL.
About Thunderbird Solar Supply, LLC, A solar system design consultancy and equipment supplier for the groundwater, irrigation, aquaculture, and off-grid residential markets. Thunderbird is a customer service-oriented company separating itself by combining an extensive knowledge of solar technology and pump hydraulics to advance capabilities of renewables throughout various industrial markets. Thunderbird provides customers system design consultation – including solar array sizing and pump selection as well as full system supply and installation support. Thunderbird Solar Supply was founded by Corey Pratt and Cody Burgdorff, former business development professionals for Suntech Drive, LLC in April of 2020. Corey and Cody have a combined 8 years of knowledge and experience working with SunTech Drive solar VFD products and a fundamental understanding of its value to these primary markets.
For additional information please contact:
michael (at) pmscs.com
303.776.4100 ex 11