Algorhythm Holdings buys Azure Energy assets for $23M
Algorhythm Holdings agreed to acquire substantially all assets of Azure Energy for $23 million in stock, adding permits, IP, real estate, and power-related waste- and biomass-to-power contracts; it also added a $30M option and $4.0M financing.
Algorhythm Holdings said it closed multiple agreements aimed at speeding up its renewable power strategy. The company acquired substantially all assets of Azure Energy for $23 million in stock, including permits, intellectual property, real estate and power-related contracts tied to waste- and biomass-to-power projects. At the same time, Al…