A power company based in Duluth, Minnesota is paying $168 million for an 87% stake in a firm that helps industrial customers reduce their water and energy consumption.
“Water and energy are intricately linked, and attention to that nexus is increasing,” said Al Hodnik, chair, president and CEO of Allete Inc. “Just as with energy, regulation and social expectations will increasingly drive water conservation, especially as water scarcity becomes a growing challenge.”
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The purchase of U.S. Water Services Inc., an integrated company with a national footprint, “fits with Allete’s strategy to invest in energy infrastructure and related services to complement its regulated utilities,” the Star Tribune reports. (h/t to Midwest Energy News for pointing us to this story)