E Source acquires battery-storage consultant

By Christopher Wood

Bizwest / Daily Camera

E Source, which provides research, data-science software and consulting services for utilities, has acquired Cairn Energy Research Advisors, a Boulderbased consulting firm specializing in battery storage.

Terms of the deal were not disclosed.

Cairn ERA serves clients in the battery and energy supply chain, including electric utilities, energy developers, and international corporations.

“Cairn ERA, a leader in battery technology information, helps early adopters make good, data-driven decisions,” E Source CEO Ted Schultz said in a statement. “We’re staying on the forefront of this movement by expanding the relationship with Cairn ERA’S existing client base and bringing that team’s expertise and practical experience to our clients. We aim to accelerate the adoption of this game-changing technology.”

Cairn ERA represents E Source’s sixth acquisition in the past 24 months.

“Joining E Source and serving the utility space feels like coming home,” said Sam Jaffe, CEO of Cairn ERA. “Renewables are disrupting the utility model, and batteries are part of the solution. With the combined strength of E Source and Cairn ERA, we can unlock the ability for utilities to cut out the intermediary and lead in a way that was not historically possible.”

Boulder-based E Source was acquired by Align Capital Partners in 2019. Align, with offices in Cleveland and Dallas, is a privateequity firm with $775 million in committed capital, according to a press release announcing the Cairn ERA acquisition.