Press Release

Palmetto Acquires Energy Data Intelligence Company Mapdwell

CHARLESTON, S.C., May 4, 2021 -- Today, Palmetto, a technology company accelerating the national adoption of clean energy, announced the acquisition of Mapdwell, which will soon make energy mapping readily available to Palmetto’s marketplace of homeowners and clean energy sellers and builders across the country.

“Mapdwell’s technology is a natural complement to our software ecosystem, and will be a major component in continuing to drive customer recommendations and platform services that enable next generation energy understanding,” said Chris Kemper, the Founder and CEO of Palmetto. “We’re thrilled to welcome Mapdwell’s team into our own, as the group brings incredible talent in addition to their technical expertise.”

Mapdwell’s state-of-the-art technology provides an instant assessment of any building’s rooftop potential for solar energy production and storage. Within minutes, homeowners can gain a cost-benefit analysis to determine if installing solar panels is worth their investment, including the number of years it will take to earn back the investment and the amount of carbon offset by their system. This technology was incubated at Massachusetts Institute of Technology (MIT), and piloted by the City of Cambridge. The tool can map entire cities and has mapped over 38 million buildings to date, earning the accolade of being named to Fast Company’s Innovation by Design Awards.

Palmetto is a technology company spurring the adoption of clean energy across the country, through an innovative marketplace approach and a suite of proprietary software tools that help homeowners rapidly assess and adopt renewable energy sources like solar.

“Palmetto is leading the industry in making it exciting and more affordable for homeowners to source from renewable energy,” said Eduardo Berlin, the co-founder and CEO of Mapdwell. “We both recognize that solar energy - and building electrification - need to scale in order to truly make an impact, and technology is the path to unlocking mass adoption. Joining Palmetto is a natural fit.”

“Mapdwell’s technology and team will supercharge Palmetto’s ability to demonstrate the viability of renewable energy to customers,” said Will Szczerbiak, Partner at Greycroft and Palmetto board member. “When combined with Palmetto’s distribution and platform, we expect it can be a major accelerant to a future increasingly powered by renewable energy.”

Under the terms of the agreement, Palmetto immediately takes ownership of Mapdwell technology assets, and has offered all Mapdwell employees roles within Palmetto. Palmetto will soon roll this technology out through their software tools already used by marketplace users to provide homeowners with custom quotes, as well as other consumer-facing apps.

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About Palmetto

Palmetto is committed to the democratization of energy by putting power and control back in the hands of consumers and inspiring them to make environmentally responsible choices. To this end, Palmetto has developed a clean energy marketplace, with proprietary technology designed to make it easier and more affordable for homeowners to source their energy from renewables like solar power. The Company develops proprietary products that reduce costs and drive widespread distribution of simple energy management solutions through a fully distributed network with teammates throughout the United States. In furthering its mission, Palmetto invests in communities to help mitigate climate change. Current partners include Solar Sister and Nature Conservancy. Palmetto is a certified B Corporation and triple bottom line, fully distributed company. For more information please visit www.palmetto.com.
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