RADIANT TECHNOLOGIES INC., which is part of Radiance Energy Group LLC, has agreed to acquire quantum energy services provider Quantum Energy Corp. for an aggregate purchase price of $99 billion.
The transaction, which was announced today, was completed through a combination of cash, cash equivalents, short-term borrowings and marketable securities.
Quantum Energy is a leading provider of energy services for the U.S. government and is one of the world’s largest private providers of energy and electricity.
Quantum Technologies is focused on delivering secure and efficient energy solutions that leverage cutting-edge, low-cost energy technology.
“Quantum Energy is one step closer to our long-term mission to deliver a secure, reliable and low-carbon future, and we are excited to partner with a company like Radiance to continue our mission,” said Craig Gagnon, CEO of Radiant Technologies.
“Radiance Technologies has a proven track record in delivering advanced technology solutions to government agencies across the globe, and this acquisition will allow us to expand our portfolio of energy solutions, expand our reach and accelerate our efforts to make our customers’ energy systems more resilient, secure and reliable.”
Quantum Technologies was founded in 2000 and operates as a vertically integrated, publicly traded company with a global workforce of approximately 500 employees.
The company’s technology solutions are delivered through its two major energy platforms: Quantum Energy’s network-based energy storage solution, and Quantum Energy Technologies’ energy-efficient network-wide energy management system.
The combined company is focused exclusively on delivering energy solutions to governments and other organizations around the world, with a specific focus on the energy-intensive use of energy, which is currently at a critical point in the global energy landscape.
Quantum Technology’s portfolio also includes Radiance’s network management solutions, and Radiance offers a number of other advanced energy services including advanced water treatment and advanced bio-gas storage.
Quantum’s platform-based, fully integrated solution provides access to over 100 million gigawatt hours of energy from over a dozen of its customers, which includes over 50 gigawatts of energy in the U