
ConnectM Completes Acquisition of Cambridge Energy Resources, Strengthening Foothold in India
MARLBOROUGH, Mass., May 15, 2025 (GLOBE NEWSWIRE) -- ConnectM Technology Solutions, Inc. (OTC: CNTM) ('ConnectM' or the 'Company'), a high-growth technology company on the leading edge of the energy economy, today announced it has secured regulatory approval and completed the acquisition of Cambridge Energy Resources Ltd. (CER), an India-based Energy-Management-as-a-Service (EMaaS) provider.
The acquisition provides ConnectM with a strategic beachhead in India's booming distributed energy and telecommunications sectors, solidifying the Company's expansion into one of the world's fastest-growing clean energy and digital infrastructure markets. ConnectM beat out four other bidders in a competitive process to acquire CER in 2021 for INR 120 million ($1.4M) which has fair value assessment at INR 240 million ($2.8M). Since winning the bid in 2021, it took an additional three years to obtain the necessary regulatory approvals.
CER's offerings span rooftop solar installations and energy management solutions for telecommunications infrastructure, supporting India's 5G network deployment through clean energy initiatives. With this acquisition, ConnectM gains an established operating presence in India and the ability to immediately participate in two sectors central to India's sustainability and digital growth. The Company will leverage CER's local expertise to deploy its proprietary Home and Building Electrification (HBE) platform and Energy Intelligence Network (EIN) across new projects in the region. ConnectM's full-stack, digital-first approach—proven in its U.S. operations—combined with CER's on-ground capabilities is expected to drive growth in both distributed energy and telecom energy management solutions.
'This is a pivotal step in our international Home and Building Electrification (HBE) expansion,' said Bhaskar Panigrahi, Chairman and CEO of ConnectM. 'By adding Cambridge Energy Resources to the ConnectM family, we secure a foothold in one of the world's largest and highest-growth energy and telecommunications markets. We are now positioned to accelerate the deployment of our integrated electrification platform across India, furthering our mission to drive sustainable energy transformation on a global scale.'
The transaction carries significant strategic value for ConnectM and its stockholders. Our India business is growing organically at more than 100% per year. With this CER acquisition, we expect our business from India to grow to 15% of our global revenue in next twelve months ($10M annualized) from 5% it is currently now. CER not only provides an operational base in India but also broadens ConnectM's service offerings into two high-growth domains that align with India's ambitious development goals. India has set a target of reaching 500 GW of non-fossil fuel power capacity by 2030, supported by an estimated $384.5 billion in power sector investments, alongside a nationwide 5G rollout. These initiatives are driving robust demand for distributed renewable energy solutions and energy-efficient telecom infrastructure—areas where ConnectM, through CER, is now well positioned to deliver innovative solutions.
This acquisition follows ConnectM's March 26, 2025, announcement of its first HBE project in India and is a key part of the Company's broader strategic expansion into India and international markets. ConnectM plans to continue pursuing opportunities that strengthen its presence in high-growth regions as it scales its HBE platform globally.
About ConnectM Technology Solutions, Inc.:
ConnectM is a constellation of companies powering the next generation of electrified equipment, mobility, and distributed energy—thus enabling a faster, smarter transition to a modern energy economy. The Company provides residential and light commercial service providers and original equipment manufacturers with a proprietary Energy Intelligence Network platform to accelerate the transition to all-electric heating, cooling, and transportation. Leveraging technology, data, artificial intelligence, and behavioral economics, ConnectM aims to lower energy costs and reduce carbon emissions globally.
For more information, please visit: https://www.connectm.com/
About Cambridge Energy Resources Ltd.:
Cambridge Energy Resources Ltd. (CER) is a privately held Energy-Management-as-a-Service provider based in India. Headquartered in New Delhi, CER delivers integrated clean energy solutions for enterprises and telecom operators, including the development and management of distributed solar projects and the deployment of energy-efficient power systems for 5G telecommunications infrastructure. By offering these services on an outcome-based model, CER helps clients reduce energy costs and carbon footprint while enhancing power reliability across their operations.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'). We have based these forward-looking statements on our current expectations and projections about future events. All statements, other than statements of present or historical fact included in this press release, regarding our future financial performance and our strategy, expansion plans, future operations, future operating results, estimated revenues, losses, projected costs, prospects, plans and objectives of management are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as 'may,' 'should,' 'could,' 'would,' 'expect,' 'plan,' 'anticipate,' 'intend,' 'believe,' 'estimate,' 'continue,' 'project' or the negative of such terms or other similar expressions. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. We caution you that the forward-looking statements contained herein are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. In addition, we caution you that the forward-looking statements regarding the Company contained in this press release are subject to the risks and uncertainties described in the 'Cautionary Note Regarding Forward-Looking Statements' section of the Current Report on Form 8-K filed with the Securities and Exchange Commission on July 18, 2024. Such filing identifies and addresses other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and ConnectM is under no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
Investor Relations
Dave Gentry, CEO
RedChip Companies, Inc.
1-407-644-4256
[email protected]
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Insider
29 minutes ago
- Business Insider
Ord Minnett Remains a Buy on Telstra Corporation Limited (TTRAF)
Ord Minnett analyst maintained a Buy rating on Telstra Corporation Limited (TTRAF – Research Report) today and set a price target of A$5.00. The company's shares closed last Thursday at $3.15. Confident Investing Starts Here: In addition to Ord Minnett, Telstra Corporation Limited also received a Buy from Morgan Stanley's Andrew McLeod in a report issued on May 28. However, on the same day, UBS downgraded Telstra Corporation Limited (Other OTC: TTRAF) to a Hold. The company has a one-year high of $3.45 and a one-year low of $2.19. Currently, Telstra Corporation Limited has an average volume of 29.92K. Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TTRAF in relation to earlier this year.
Yahoo
43 minutes ago
- Yahoo
Uncrustables Are on a Seemingly Unstoppable Run to $1 Billion in Sales
Sales of the Uncrustables sandwich continued to grow, despite soft peanut butter and jam sales in the most recent quarter, The J.M. Smucker Co. said. The company is poised to achieve its goal of hitting more than $1 billion in Uncrustables sales in the current fiscal year, executives said. J.M. Smucker aims to keep the momentum going with limited editions of a product known to be eaten by musicians and athletes such as Travis haven't lost their edge. Despite the fact that making making peanut butter and jelly sandwiches isn't particularly hard, Americans continue to opt for the shortcut offered by The J.M. Smucker Co. (SJM). Sales of Jif peanut butter and Smucker's jam fell year-over-year in the last quarter, while sales of the Uncrustables sandwich rose, CEO Mark Smucker said on a conference call Tuesday. Uncrustables sales leaped 15% year-over-year in fiscal year 2025, hitting $920 million, according to company executives. The sandwich now accounts for more than a tenth of annual sales at J.M. Smucker, which also sells pet food along with Folgers and Café Bustelo coffee. Hitting $1 billion in annual sales of the sandwich has been part of the company's agenda since at least 2021, when Uncrustables sales were about half that amount. Now, the mark is within striking distance. The company wants to continue building momentum with new riffs on the PB&J, robust marketing and broader distribution, Mark Smucker said at a conference in March. 'We definitely think there's growth beyond … $1 billion,' said Smucker, according to a transcript made available by AlphaSense. 'And we've talked about how long it took us to figure out how to make these things in a profitable and mass-produced high-quality way. And now that we're doing that, we can really fire on all cylinders and drive the growth.' Demand for Uncrustables has been so strong that J.M. Smucker opened a $1.1 billion plant in Alabama last year to ramp up production. And appetite for the sandwiches is expected to withstand price increases, executives said: J.M. Smucker recently raised its list price for Uncrustables for the first time in three years, Smucker said on the earnings call. (The company's 2026 forecast is based on a low-single-digit percent price bump, CFO Tucker Marshall said.) The product has long benefited from high-profile fans—from musicians like Drake to sports icons, such as Travis Kelce, according to news reports. Athletes say the snack has enough calories and protein to fuel their performance. Affinity for the sandwich has spread beyond sports fields and school cafeterias to corporate break rooms, according to a 2023 Wall Street Journal article. The Ohio-based company hopes to generate still more hype with Uncrustables fillings that are available for a limited time, Mark Smucker said on the earnings call. We have 'begun launching a regular cadence of limited edition flavors starting this summer with a new peanut butter and mixer berry spread variety,' he said. J.M. Smucker shares fell nearly 16% Tuesday after it missed fourth-quarter sales estimates and released an outlook that was more cautious than analysts expected. Read the original article on Investopedia Sign in to access your portfolio
Yahoo
44 minutes ago
- Yahoo
India's granaries overflow as rice stocks hit record, wheat surges
By Rajendra Jadhav MUMBAI (Reuters) -India's rice stocks in government warehouses rose 18% from a year ago to a record high for the start of June, while wheat stocks have hit their highest level in four years on higher procurement from farmers, official data showed on Wednesday. Record rice stocks will help the world's biggest exporter increase shipments, while an improvement in wheat inventories will help the federal government tame any price spikes later this year by increasing open market sales. State reserves of rice, including unmilled paddy, totalled a record 59.5 million metric tons as of June 1, far exceeding the government's target of 13.5 million tons for July 1. Wheat stocks stood at 36.9 million tons on June 1, well above the government's target of 27.6 million tons, the data showed. "Rice stocks have piled up way too much. The government really needs to bring them down before the next buying season kicks off in October," said a New Delhi-based dealer at a global trading firm. India, which accounts for around 40% of global rice exports, removed the last of its export curbs on the grain in March 2025, with the initial restrictions having been imposed in 2022. Wheat stocks have risen to a comfortable position mainly because of higher procurement, which will help New Delhi sell more wheat to bulk consumers during the lean supply season, said a Mumbai-based dealer. The government has so far brought 30 million tons of wheat from farmers, the most in four years, according to data compiled by Food Corporation of India (FCI). Disappointing harvests in the past three years and lower purchases by the FCI had pushed up prices of the staple grain and raised expectations that India may be forced to import wheat for the first time in seven years. But the buildup in stocks this year means the country should be able to meet domestic demand without imports.