Altus Power, Inc., a Market-Leading Clean Electrification Company, Announces Appointment of Steve D'Agostino as Head of Analytics
Altus Power has appointed Steve D'Agostino as its new Head of Analytics to enhance the company's analytics platform. This role is critical for tracking customer benefits and real-time financial performance analysis of Altus Power's assets. The company is also nearing a business combination with CBRE Acquisition Holdings, Inc. (CBAH), expected to finalize in Q4 2021, leading to Altus Power's public listing. D'Agostino brings extensive experience in technology and analytics from prior roles at Credit Suisse and Merrill Lynch, aiming to bolster Altus Power's growth and service capabilities.
- Appointment of Steve D'Agostino will enhance analytics capabilities.
- Strengthening analytics is expected to improve customer service and financial reporting.
- The impending merger with CBAH aims to enhance access to capital.
- Concerns about the integration of new leadership could affect continuity.
- Dependence on the successful completion of the merger with CBAH poses risks.
STAMFORD, Conn., Nov. 2, 2021 /PRNewswire/ -- Altus Power, Inc. ("Altus Power" or the "Company") today announced the appointment of Steve D'Agostino to the new position of Head of Analytics. In this position, Mr. D'Agostino will lead the Company's efforts to enhance Altus Power's analytics platform to better track the delivery of benefits to the Company's customers and provide real time analysis of the financial performance of Altus Power's assets for the benefit of all our stakeholders.
Altus Power previously announced an agreement for a business combination with CBRE Acquisition Holdings, Inc. (NYSE: CBAH), which is expected to result in Altus Power becoming a public company listed on the New York Stock Exchange. CBAH is a special-purpose acquisition company sponsored by CBRE Group, Inc. ("CBRE"). The transaction is expected to close in Q4 2021.
Mr. D'Agostino will drive the design of modeling software at the rapidly growing clean electrification company and add robustness to Altus Power's analytics platform, by enhancing the analytical and reporting capabilities that support the end-to-end service for Altus Power's customers. The analytics platform will also support the real-time and projected performance of Altus Power's assets, which will help to inform the Company's interactions with rating agencies and facilitate access to capital, including the solar securitization market.
"At Altus, we are extremely focused on providing a seamless end-to-end service for our customers, and our technology and analytics platforms are a critical part of our growth plans," said Altus Power Co-Founder and Co-CEO, Lars Norell. "We welcome Steve to our team and are excited about the capabilities he will bring to the design of our analytics and improved reporting systems."
Mr. D'Agostino began his career at Credit Suisse, where he modeled and structured securitized transactions backed by mortgages and other types of fixed income assets featuring predictable cash flow properties. After a similar role at Chase Securities, Mr. D'Agostino went on to head the Technology & Analytics efforts for the Global Structured Credit Products group at Credit Suisse and then Merrill Lynch. Most recently, Mr. D'Agostino worked at JVB Financial Group where he began as head of Technology & Analytics for the entire firm, overseeing all analytics and systems used in both the structuring and investment management of the firm's securitized transactions. He subsequently was promoted to Managing Director and Head of JVB's Small Business (SBA) loan securitization and trading effort. Over a 12 year period, Mr. D'Agostino oversaw analytics used for the purchase and securitization of loans, personally completing over 80 securitized transactions.
"I look forward to collaborating with the fantastic team at Altus Power and strengthening Altus Power's analytical capabilities to serve existing customers, drive growth of the Company's portfolio and improve analytics for all stakeholders," said Mr. D'Agostino.
About Altus Power
Altus Power, based in Stamford, Connecticut, is creating a clean electrification ecosystem, serving its commercial, public sector, and community solar customers with locally-sited solar generation, energy storage, and EV-charging stations across the U.S. Since its founding in 2009, Altus Power has developed or acquired over [350] megawatts from Vermont to Hawaii. Visit altuspower.com to learn more.
About CBRE Acquisition Holdings, Inc.
CBRE Acquisition Holdings, Inc. ("CBAH") is a blank-check company formed solely for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. CBAH is sponsored by CBRE Acquisition Sponsor, LLC, which is a subsidiary of CBRE Group, Inc.
No Offer or Solicitation
This communication is not a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the planned business combination between Altus Power and CBAH (the "Business Combination") and the other transactions contemplated by the business combination agreement entered into by Altus Power and CBAH (the "Business Combination Agreement") and shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
Important Information About the Business Combination and Where to Find It
CBAH has filed with the U.S. Securities and Exchange Commission ("SEC") a Registration Statement on Form S-4 (the "Registration Statement"), which includes a preliminary proxy statement/prospectus in connection with the proposed Business Combination and will mail a definitive proxy statement/prospectus and other relevant documents to its stockholders. CBAH's stockholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus, and amendments thereto, and the definitive proxy statement/prospectus in connection with CBAH's solicitation of proxies for its stockholders' meeting to be held to approve the Business Combination because the proxy statement/prospectus will contain important information about CBAH, Altus Power and the Business Combination. The definitive proxy statement/prospectus will be mailed to stockholders of CBAH as of a record date to be established for voting on the Business Combination. Stockholders will also be able to obtain copies of the Registration Statement and the proxy statement/prospectus, without charge, once available, at the SEC's website at www.sec.gov or by directing a request to CBRE Acquisition Holdings, Inc., 2100 McKinney Avenue, Suite 1250, Dallas, TX 75201.
Participants in the Solicitation
CBAH, Altus Power and certain of their respective directors and officers may be deemed participants in the solicitation of proxies of CBAH's stockholders with respect to the approval of the Business Combination. CBAH and Altus Power urge investors, stockholders and other interested persons to read the Registration Statement, including the preliminary proxy statement/prospectus and amendments thereto and the definitive proxy statement/prospectus and exhibits thereto, as well as other documents filed with the SEC in connection with the Business Combination, as these materials will contain important information about Altus Power, CBAH and the Business Combination. Information regarding CBAH's directors and officers and a description of their interests in CBAH is contained in the Registration Statement.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "could", "continue", "expect", "estimate", "may", "plan", "outlook", "future" and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements, which involve risks and uncertainties, relate to the use of proceeds for the new credit facility and analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable and may also relate to CBAH's and Altus Power's future prospects, developments and business strategies. In particular, such forward-looking statements include statements concerning the timing of the Business Combination, the business plans, objectives, expectations and intentions of CBAH once the Business Combination and the other transactions contemplated thereby (the "Transactions") and change of name are complete ("New Altus"), and New Altus's estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities. These statements are based on CBAH's or Altus Power's management's current expectations and beliefs, as well as a number of assumptions concerning future events.
Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside CBAH's or Altus Power's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement; (2) the inability to complete the Transactions due to the failure to obtain approval of the stockholders of CBAH or Altus Power or other conditions to closing in the Business Combination Agreement; (3) the ability of New Altus to meet NYSE's listing standards (or the standards of any other securities exchange on which securities of the public entity are listed) following the Business Combination; (4) the inability to complete the private placement of common stock of CBAH to certain institutional accredited investors; (5) the risk that the announcement and consummation of the Transactions disrupts Altus Power's current plans and operations; (6) the ability to recognize the anticipated benefits of the Transactions, which may be affected by, among other things, competition, the ability of New Altus to grow and manage growth profitably, maintain relationships with customers, business partners, suppliers and agents and retain its management and key employees; (7) costs related to the Transactions; (8) changes in applicable laws or regulations and delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals required to complete the Transactions; (9) the possibility that Altus Power and New Altus may be adversely affected by other economic, business, regulatory and/or competitive factors; (10) the impact of COVID-19 on Altus Power's and New Altus's business and/or the ability of the parties to complete the Transactions; (11) the outcome of any legal proceedings that may be instituted against CBAH, Altus Power, New Altus or any of their respective directors or officers, following the announcement of the Transactions; and (12) the failure to realize anticipated pro forma results and underlying assumptions, including with respect to estimated stockholder redemptions and purchase price and other adjustments.
Additional factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in the Registration Statement and CBAH's proxy statement/prospectus when available. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and CBAH and Altus Power undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, changes in expectations, future events or otherwise.
This communication is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in CBAH and is not intended to form the basis of an investment decision in CBAH. All subsequent written and oral forward-looking statements concerning CBAH and Altus Power, the Transactions or other matters and attributable to CBAH and Altus Power or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.
Altus Power Contacts
For Media:
Cory Ziskind
ICR, Inc.
AltusPowerPR@icrinc.com
For Investors:
Caldwell Bailey
ICR, Inc.
AltusPowerIR@icrinc.com
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SOURCE Altus Power, Inc.
FAQ
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