Duquesne Light Holdings Inc., the parent company of Duquesne Light Co. and DQE Communications LLC, has acquired a majority equity interest in the energy efficiency solutions provider TEN Inc. The acquisition provides DLH a platform for growth and expansion, with a focus on energy efficiency services, distributed generation projects, and smart street lighting and smart city solutions in Pennsylvania and elsewhere.
The terms of the transaction were not disclosed.
Established in 2012 and based in Pittsburgh, TEN’s 35 employees serve a diverse group of customers, with a significant concentration in western and central Pennsylvania. Its client list includes Carnegie Museums of Pittsburgh, the University of Pittsburgh and the City of Cleveland, in addition to multiple projects for the Commonwealth of Pennsylvania’s Energy Savings Program.
TEN CEO Troy Geanopulos and President and COO Rob Campbell will continue to lead the company, reporting directly to DLH and DLC President and CEO Steve Malnight.
“We recognize the energy demands of business and institutional customers are becoming more complex,” Malnight said in a statement. “The investment in TEN will help us meet these customers’ evolving energy needs as well as advance our efforts to create and support a more sustainable energy future for the region and beyond.”