Two Fairfield County energy companies on July 18 announced  plans to merge, creating a new entity, Crius Energy, which will be headquartered in Stamford.
Regional Energy Holdings Inc., currently located in Norwalk, owns retail energy companies in 11 states and Public Power L.L.C. is a retail energy company based in Danbury with operations in seven states.
The newly formed company will move its 100 employees into offices located on Washington Street in Stamford in September and expects to add an additional 50 employees over the next year.
“Combining the strengths of our two great organizations, Crius Energy enjoys all the right attributes to establish its leadership in the fast-growing retail energy sector,” said Michael Fallquist, Regional Energy Holdings CEO, in a press release. “This marks a decisive step in our expansion strategy, boosting future prospects for all companies in the Crius Energy family of brands.”
Crius Energy will serve more than 400,000 residential and commercial customers with approximately $315 million in revenue, based on 2011 data.
“We plan to continue our search for additional opportunities that fit well with our standing as a leading regional energy supplier,” said Public Power CEOÂ Bob Gries in a statement. “There is a very promising growth story for us.”
