Texas Company Offering "Integrated Energy Platform" (Including Retail) Announces Investment From Bank For Clean Energy Platform

February 18, 2022

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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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Almika Renewable Finance, which is described as a renewable energy platform, announced today the launch of a new suite of financial services focusing on the residential solar and energy storage market with the financial backing of Amalgamated Bank

As previously reported, Almika has partnered with Texas retail electric provider JP Energy Resources to offer retail electricity as part of an integrated offering, with JP Energy Resources using the trade name Almika Solar [JP Energy Resources also separately offers service under other trade name(s)]

See more background on Almika and its REP offerings here

"With its sights set on disrupting how electricity is produced and consumed in today’s energy markets, Almika has created the first fully integrated energy platform including solar development, retail electricity, solar financing and demand response. Almika Energy draws on its background in the solar industry, energy and technology markets to provide a smarter and more sustainable electricity solution," Almika states

"Almika offers customers who install solar and storage systems an innovative platform, which integrates utility billing, clean energy financing, and demand response capabilities in a single platform. Its partnership with Amalgamated Bank will allow it to strengthen its platform offering in the energy market, while simultaneously helping the bank achieve its net zero targets by 2045," Almika stated

"Based in Houston, Almika is quickly growing its network of solar dealer and installer partners throughout Texas and surrounding states, with an eye on expanding nationally," Almika stated

"Amalgamated’s investment in clean energy funding allows the completion of an industry-first solution to manage customers’ financing, billing and energy demand needs. This puts Almika and Amalgamated at the forefront of innovation in both the deregulated electricity and residential solar markets," Almika stated

"Almika’s technology with Amalgamated’s partnership delivers the best possible experience to our partners, customers and those considering renewable energy home improvements," said Celestine Vettical, CEO and co-founder of Almika. "This not only adds to the full suite of service offerings in our platform but unlocks the true scalability and value that we aspire to deliver to the environment, our current grid structures, and the customers we serve."

Priscilla Sims Brown, president and CEO of Amalgamated Bank, described the partnership as, "a strategic investment in clean solar energy."

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