Veolia, a global leader in integrated environmental solutions, announced the successful acquisition of Icetec, a Pennsylvania-based company specializing in digital and distributed energy management. With more than two decades of experience helping organizations achieve measurable energy savings and operational efficiencies, Icetec brings valuable expertise to Veolia’s expanding energy services portfolio.
This strategic tuck-in acquisition enhances Veolia’s North American offerings and adds powerful new capabilities to its Hubgrade digital platform. As power markets face growing volatility and stress on electrical grids, Icetec’s customers will now have access to a broader suite of services to further boost their sustainability and performance outcomes.
The acquisition is aligned with Veolia’s GreenUp strategy, which aims to double its revenue in the United States and Canada by 2030. The strategy focuses on three core pillars: decarbonization, resource regeneration, and depollution. Integrating Icetec’s innovative solutions strengthens Veolia’s commitment to advancing energy efficiency, decarbonizing industries, and building a more sustainable global energy system.
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Based in Boothwyn, Pennsylvania, the Icetec team will join Veolia’s Sustainable Industries and Buildings division. Icetec’s fully integrated management platform enables institutions to optimize distributed energy assets both operationally and financially, offering streamlined access to wholesale energy markets. Their client base includes top-tier organizations across higher education, healthcare, and commercial and industrial sectors.
“We are thrilled to welcome Icetec to Veolia. This valuable acquisition will be an integral part of our GreenUp strategy as we grow our energy services business by helping our customers conserve energy and reduce their environmental impact with future forward, digital capabilities. We believe combining Icetec with our existing digital platforms will provide an enhanced and differentiated experience for our customers,” said Karin Hamel, President and Chief Executive Officer of Veolia’s Sustainable Industries and Buildings business.
“Joining Veolia is an important step forward for our company to help us reach new markets, better serve our customers, achieve greater impact and provide growth opportunities for our team. With the opportunities across power markets in North America, we are excited to become part of a global energy and sustainability leader like Veolia where we can continue to develop and deploy Icetec’s management and optimization solutions to a broader set of industries and customers,” said Michael Webster, Founder and Chief Executive Officer of Icetec.