IPS Solar grows hotter in a cool economy this year

Impact Power Solutions is a pioneer of the Minnesota solar industry with a new majority owner that has fueled red-hot growth in a recession.

SmartPitch Ventures, a private-equity firm focused on renewable energy, spent several million dollars last year to acquire most of the stock in IPS Solar, as it is known, that was owned by Ralph Jacobson, who started the firm 29 years ago.

Eric Pasi, chief development officer at IPS Solar, said revenue should grow 60% this year, to about $35 million. IPS has increased employment to about 40 since the acquisition and employs up to several hundred workers annually on installations that stretch from the Twin Cities up to Red Lake.

https://www.startribune.com/ips-solar-grows-hotter-in-a-cool-economy-this-year/571514932/