GreenFront Energy Partners Advises Energy Assurance on Sale to Element Materials
Element Materials recently announced its acquisition of Energy Assurance, a leading independent provider of battery testing services supporting the Energy Transition market
April 21, 2022
GreenFront Energy Partners (“GreenFront”) is pleased to announce the successful closing of Energy Assurance LLC’s (“EA”) sale to Element Materials Technology (”Element”). The transaction is a unique opportunity for Element to establish itself as a market leader in the sustainable energy delivery market, while helping to reinforce its broader sustainability agenda.
EA is a leading accredited cell and battery testing lab in North America with over a decade of experience in the battery-powered products industry. The company provides testing services for the world’s leading electric vehicle, energy storage, and connected technology businesses, helping to enable widespread electrification and support the overall Energy Transition.
Cindy Millsaps, CEO at of EA, said: “We are excited about joining Element as together we pursue our shared goals of becoming the best and most trusted testing partner for the Energy market. We look forward to this next phase of growth for the company and believe that being part of Element will further enable our team to drive growth in market shaping battery technologies and influence positive change in the area of sustainable energy storage and delivery.”
GreenFront served as exclusive financial advisor to Energy Assurance.
Link to Transaction Release.
About Energy Assurance
Based in Gainesville, Georgia and with operations in Hopkinton, Massachusetts, Energy Assurance provides performance testing services for battery and battery-powered products using over 3,000 cycling channels and more than 200 environmental chambers. Its comprehensive suite of services and industry leading expertise lies within the performance, safety, regulatory, and abuse testing areas for small, medium, and large format cells, modules, and packs. This includes safety and regulatory services and certification to local and international standards, product analysis, and risk quantification.
About Element
The Element Materials Technology Group is one of the world’s leading global providers of testing, inspection, and certification services for a diverse range of materials, products, and technologies in advanced industrial supply chains where failure is not an option. Headquartered in London, UK, Element’s team of more than 6,000 expert scientists, engineers and technicians operate from around 200 locations across five continents, delivering an extensive range of solutions to customers in critical industries including aerospace, connected technologies, construction, defense, energy, environmental, life sciences and transportation.
In 2021, Element set out its new, industry leading environmental commitments, adopting science-based targets and committing to net zero emissions across its entire global business by 2035. These environmental commitments follow Element’s achievement of the highest ESG ranking in the testing, inspection, and certification industry from Sustainalytics, a global leader in ESG research and data.