Littoral Power Systems Inc. (LPS) has acquired Cook Hydro Solutions Inc. (CHI), an Ohio-based designer, manufacturer and installer of waterpower equipment.
LPS will add CHI’s equipment portfolio and customer base to its work in head-based and hydrokinetic energy systems, according to a press release. As part of the transaction, LPS is bringing on Ryan Cook as chief strategy officer, and he will continue as president of the newly named LPS Hydro Solutions Inc. (LHS).
“We are honored to welcome Ryan to the team. He brings decades of real-world experience and skills that will be critical as we expand and continue to reduce the time, expense, and environmental impact of harvesting renewable energy from water resources,” said David Duquette, LPS’s CEO.
The acquisition sets LPS up to take advantage of renewed interest in hydropower as a reliable and carbon-neutral electricity resource critical to the energy transition. LPS hydrostatic and hydrokinetic systems are modular, cost-effective and rapidly deployable across a broad range of site typologies using simple construction equipment.
“I am confident that Cook Hydro Solutions’ existing customer and supply chain relationships will continue to thrive and contribute to LPS’s continued success. Cook Hydro has made great strides in building products and processes, but leveling up to make a true global impact requires a deeper bench and a strong team, which LPS clearly has. Now is the time for innovative, environmentally conscious water power systems, and I am excited to be part of the LPS team to get those built,” said Cook.
Cook will be responsible for managing the LHS business, guiding commercialization of LPS’s innovations and providing technical leadership for LPS’s R&D pipeline.
LPS was formed in 2015 to address the problems of cost, environmental impact and regulatory complexity in hydropower and ocean energy. The company develops sustainable and resilient approaches to hydropower technologies to reduce the time, complexity and expense of constructing water power infrastructure and power plants, as well as provide renewable power assets that are readily deployable in remote, non-grid-connected locations.