B2B publisher PennWell Corporation, US, has announced that it has acquired a 51 percent stake in iCommerce & Marketing L.L.C., which operates RenewableEnergyAccess.com, a leading online-only publication and business-to-business community for renewable energy. Financial terms of the sale were not disclosed.
Under the deal, company founders, Jim Callihan and Oliver Strube, will retain 49 percent ownership and continue to direct operations for the RenewableEnergyAccess.com website, e-newsletters, and related products. With this acquisition, PennWell seeks to expand its strategic position in the $40 billion renewable energy market, which is expected to double by 2010. In addition to its newly expanded presence in renewable energy, PennWell's additional energy-related properties include 13 magazines and 26 events for the oil and gas, electric power, water and related energy markets. These include Oil & Gas Journal, Offshore, Oil & Gas Financial Journal, Power Engineering and Power Engineering International magazines, and leading events such as Deep Offshore Technology, Offshore West Africa, Offshore Asia, Offshore Middle East, and POWER-GEN, held annually in North America, Europe, Asia, Russia, India, and the Middle East.
RenewableEnergyAccess.com serves 50,000 registered readers by providing comprehensive industry information and insight with its daily news, weekly podcasts, and regular columns and interviews. The site covers finance, policy, and technology for renewable energies including solar power, wind power, biomass and biofuels, geothermal, hydrogen/fuel cells, and hydropower.
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