Strategic acquisition brings proven early-stage development team and pipeline in-house, strengthening Exus' position as integrated renewable energy platform

PITTSBURGH, March 4, 2026 /PRNewswire/ -- Exus Renewables North America, a leading independent developer and operator of utility-scale renewable energy projects, today announced the acquisition of Ozone Renewables, adding new assets and expertise to the company's greenfield development team and early-stage project pipeline. The acquisition marks Exus' first organizational acquisition and represents a strategic shift toward building integrated development capabilities across wind, solar, and storage projects.

The acquisition enables Exus to internalize early-stage project origination rather than relying solely on acquisitions from third-party developers. Ozone's team brings extensive experience in securing land control and advancing projects from concept through early development stages. The team has helped partners commercialize over 3GW of operational wind projects and added gigawatts of utility-scale solar projects to development pipelines across multiple markets, with particular expertise in challenging regulatory environments including New York, Pennsylvania, and the Pacific Northwest. Larry Seiler, of Ozone Renewables, will lead Exus' new greenfield development team.

"This strategic partnership allows us to bring proven greenfield expertise in-house at a critical time for the industry," said Jim Spencer, President and CEO of Exus Renewables North America. "Rather than continuously acquiring early-stage projects from external developers, we can now originate and develop projects internally with a tried-and-true team. This positions Exus to focus our development efforts in markets where we see the strongest competitive future for renewable energy."

"As the industry consolidates and the days of small independent developers become increasingly challenging, joining Exus provides the resources and platform to continue successful greenfield development work," said Tommy Hudzik, Head of Development at Exus Renewables North America. "This acquisition ensures that the relationships we've built and the expertise we've developed will continue driving renewable energy projects forward across North America."

"When we started Ozone, our goal was simple: build a disciplined greenfield development platform capable of originating high-quality renewable projects in complex markets. With more than 9 GW of assets originated to date, I'm incredibly proud of what our team has built. Exus recognized both the strength of our pipeline and the culture behind it, and I'm confident this partnership will allow that development engine to continue scaling and delivering meaningful impact in this next chapter," said Daniel Boyd, Founder of Ozone Renewables.

"There's never been a more important time to accelerate the development of reliable, efficient renewable energy," said Larry Seiler, Director, Greenfield Development. "With power demand rising quickly, success requires strong early-stage execution and the ability to deliver projects at scale. By joining Exus, we're bringing those strengths together, pairing disciplined greenfield development with an experienced operating platform to responsibly advance the next generation of wind, solar, and storage projects."

The acquisition includes Ozone's existing pipeline of early-stage wind, solar, and storage projects, as well as project concepts currently in various stages of land control and early development. Ozone's team will focus on greenfield development across PJM, MISO, WECC, and SPP territories, complementing Exus' existing regional development teams.

About Exus Renewables North America

Exus Renewables North America is a leading independent owner, developer and operator of utility-scale renewable energy projects, dedicated to advancing clean energy solutions across the United States. Operating from offices in Pittsburgh, New York, and Albuquerque with over 100 employees, the company focuses on developing, repowering, and managing renewable energy assets as part of its mission to drive sustainable growth in the renewable energy sector. With over 5.8 gigawatts in its total portfolio and 764 MW now operating or under construction, Exus continues to expand its operational footprint while contributing to the nation's decarbonization efforts and clean energy goals.

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SOURCE Exus Renewables North America