Norwich Technologies Announces the Launch of Breakaway Renewables: A Division Focused on Clean Energy Development and Finance

The company diversifies operations for strategic growth and greater impact in the renewable energy sector.

WHITE RIVER JUNCTION, Vt., Aug. 8, 2024 /PRNewswire-PRWeb/ -- Norwich Technologies, the parent company of subsidiaries Norwich Solar (EPC), RunTime Solar (O&M) and NorwichEV, is pleased to announce further diversification of operations for strategic growth and greater impact in the renewable energy sector, providing service under the new Breakaway Renewables company brand. Historically the company had focused on vertical integration, working as the EPC contractor primarily on projects that it has Developed in-house. This new division strengthens the opportunities for the company to develop renewable projects for other companies' portfolios.

"Our roots as an integrated Developer/Finance/EPC organization have allowed us to foresee and mitigate potential challenges. We've developed a successful proprietary process to bring projects to fruition." - Chief Development Officer, Martha Staskus

Since Norwich Technologies founding in 2011, it has successfully developed and installed over a hundred solar projects throughout Vermont, New Hampshire and Maine. By establishing separate Development/Financing and EPC (engineer, procure and construct) divisions, Breakaway Renewables and Norwich Solar respectively, are expanding and strengthening their offerings of proven Development/Finance and EPC processes throughout New England and beyond. More opportunities will be available from both divisions' expertise. Breakaway Renewables, in particular, will increase its site acquisition and evaluation, permitting, design and financing opportunities for its business partners.

As part of the Norwich Technologies family, Breakaway Renewables remains dedicated to our company's values. Norwich Technologies strives to rapidly advance the integration and deployment of affordable clean energy and technology solutions to help companies and organizations improve their Triple Bottom Line (Financial, Social and Environmental) while moving communities towards a fossil-free energy future. Norwich Technologies, became a Certified B-Corp in 2023 and all divisions share the ethos of stakeholders-first approach, using the business as a force for positive impact on the environment, climate change and people, while delivering maximum value.

CEO Jim Merriam comments about the company's positive reputation; "Breakaway Renewable is successful because of our team's experience and proven track record. The leadership team of Breakaway Renewable has a combined experience of over 75 years!" He continues, "We are genuinely driven to address climate change by adding more clean energy to the region and we remain deeply committed to social and environmental goals."

Chief Development Officer, Martha Staskus, shares; "Our roots as an integrated Developer/Finance/EPC organization have allowed us to foresee and mitigate potential challenges. We've developed a successful proprietary process to bring projects to fruition. Combined with strong relationships with our stakeholders, we have developed quality renewable energy generation projects." Staskus is a strong champion for our partners, noting that "At the heart of it all, Breakaway Renewables is committed to continuing our transparent engagement approach."

Brendan Malley, Chief Commercial Officer, explains; "For those who look to invest capital in us, their primary concern is our demonstrated ability to create significant value through our solar development activities. We can assure them we are laser focused on creating high value projects with low risk." Related to this, Malley continues, "We have built a lean and efficient organization and set clear goals tied to solid financial metrics."

Having successfully developed more commercial and utility scale solar than any other organization in Vermont over the last 5 years, the Development/Finance team of Breakaway Renewables will continue to grow its portfolio of projects. With this expansion, each division at Norwich Technologies will respectively focus deeper on their competences, while maintaining the agile, collaborative spirit of a comprehensive organization. Together, the Norwich Technologies family of companies will unleash further opportunities to transition to a clean energy future.

About Norwich Technologies

Norwich Technologies and our family of businesses is focused on the development, commercialization, and deployment of forward-looking renewable energy solutions. Innovation is the heart and soul of our operations, fueled by our commitment to a cleaner, robust future. Utilizing funding from US Department of Energy grants for innovative research, investment partners, and commercial work, we have developed new technologies, and installed hundreds of commercial solar and EV chargers that benefit the New England communities we serve and their rapid transition to electrification.

Norwich Technologies is the parent company of Norwich Solar, Breakaway Renewables, RunTime Solar, and Norwich EV. For more information, visit our websites: norwichtech.com, breakawayrenewables.com, norwichsolar.com, runtimesolar.com, norwichEV.com

Media Contact

Diana Wood, Norwich Technologies, 1 (802) 281-3213 3031, wood@breakawayrenewables.com, https://breakawayrenewables.com/

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