FOR IMMEDIATE RELEASE

November 2, 2023

Contact:

Todd Pegelow

Vice President, EV Charging Division

Todd@RenuaEnergy.com

(845)-403-0414

GLENS FALLS, N.Y., November 2, 2023 —(https://www.renuaenergy.com/):

Renua Energy, based in Clifton Park, NY, was awarded its first New York State contract to install EV Charging Stations at three locations in the Eastern Region of upstate New York. The commercial-scale projects will involve working with state agencies, site representatives, and the utility company to complete the installation of both Level 2 (AC) and Level 3 (DC) charging stations. 

"As a part of the process," commented the Company's VP of its EV Charging unit, Todd Pegelow, "Renua secured bonding approval. This is an important step in the growth of our EV Charging business as it positions the company to pursue additional government contracting opportunities." A bond guarantees payment to the bond owner if a bidder fails to begin a project. This provides the bond owner with confidence that the bidder has the financial means to do the job for the quoted price and assures the customer that the project will be completed according to the specifications. 

Bonding approval has a significant impact when contracting and bidding for projects. This distinction separates Renua from unqualified bidders. Few small businesses possess this designation and the subsequent peace of mind they can deliver to the municipalities, communities, and businesses seeking to offer EV charging services to their clientele. Bonding creates trust and is the foundation for a successful project, demonstrating to our clients that we are financially stable, experienced, and the exact choice for their EV Charging projects.

As a result, Renua Energy Inc. is approved for a single project limit of $2 million and an aggregate bonding capacity of $3 million. This guarantee is in effect for all publicly funded projects in New York. 

The initial meetings with representatives from the state established the collaborative efforts that will occur as the project progresses. "We have created an outstanding team to represent Renua," said project manager Greg Kline, "and have enjoyed meeting the team from New York's Office of Governmental Services. They have a great deal of experience, and together, we're looking forward to helping them achieve their goals and expand EV availability in the State." More details will follow as the state defines the scope of work for each site and as Renua develops the required documentation and schedules.

Renua Energy is a New York and Federally certified Service Disabled, Veteran Owned Small Business involved in electric vehicle service equipment sales, installation, and solar engineering services to project developers in the community solar space.   

For more information about Renua Energy products and services, please visit https://www.renuaenergy.com/about-us#OurService.

About Renua Energy

Renua Energy is a federally and state certified SDVOSB providing solar development project resources and electric vehicle service equipment project development. Renua Energy was established in 2013 to bring customized commercial and utility solar permitting and project development solutions to the marketplace. In 2020, we recognized a surge in demand for electric vehicles, so we added EV charging station (EVSE) installation to our portfolio. To that end, we offer engineering, procurement, and construction (EPC) solutions for commercial and industrial EV charging projects. It is part of our vision to lead the local infrastructure and empower business owners with increased revenue and cash flow.

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