Lime Energy

Lime Energy, established in 1997 and formerly known as Electric City Corp., operates as a provider of energy efficiency solutions tailored for utilities and their commercial customers. The company was acquired by Willdan Group, Inc. (NASDAQ: WLDN) in a transaction completed on November 9, 2018, for $120 million in cash. This acquisition integrated Lime Energy into Willdan's broader portfolio of technical and consulting services, expanding its geographical presence into the southeastern and mid-Atlantic regions of the U.S. and diversifying its utility client base.

The core business of Lime Energy revolves around designing and implementing direct-install energy efficiency programs. These programs are targeted at small to mid-sized commercial and industrial businesses, helping them reduce energy consumption and related expenditures. The company's services enable clients to upgrade existing equipment and install new, energy-efficient technology, which includes interior and exterior lighting, refrigeration, automation, and HVAC solutions. For its utility partners, these programs serve as a crucial resource for managing energy demand, which can delay the need for costly investments in new power plants or grid upgrades and assist with compliance regarding environmental regulations. Lime Energy's client roster has included 10 of the 25 largest electric utilities and five of the 10 largest municipal utilities in the United States.

The business model is service-based, focusing on comprehensive program management for utilities. This encompasses program design and administration, customer recruitment through marketing and sales, as well as the auditing and implementation of the energy efficiency projects themselves. By bundling these services, the company provides a turnkey solution for utilities aiming to achieve energy savings goals. Following its acquisition, Lime Energy continues to operate as a subsidiary of Willdan, securing new contracts such as an $18 million project with Glendale Water & Power to support its clean energy transition by helping commercial and industrial customers reduce energy usage.

Keywords: energy efficiency services, utility program management, direct-install programs, commercial energy solutions, small business energy savings, energy consulting, clean energy, demand-side management, Willdan Group, energy efficiency implementation, utility services, energy cost reduction, lighting upgrades, HVAC efficiency, commercial building energy, energy program design, electricity conservation, green technology, sustainable energy, energy management for utilities