Dalton—Shaw Industries has purchased a significant controlling interest in Watershed Geosynthetics (Watershed Geo) and has entered into a letter of intent to acquire controlling interest in Watershed Solar. These moves build on the long-standing partnership between Shaw and Watershed Geo.
“We have had a business and financial relationship with Watershed Geo for 10 years,” said Vance Bell, Shaw’s executive chairman. “It is exciting to see how their business has developed and the enormous opportunity they have in the future. Driven by commitments from large utilities, government agencies and global industries, the business is ready to explode.”
Watershed Geo and Watershed Solar sell patented environmental solutions for utility, waste management, erosion control and mining industries. Watershed Geo develops innovative solutions for the protection and resiliency of civil, environmental and energy infrastructures. These widely recognized innovations challenge traditional solutions with systems that are sustainable, low-cost and engineered for extreme performance.
Watershed Solar is an early-stage company that provides patented renewable energy solutions. The technology, branded PowerCap, supplies low-profile, high-output solar arrays on top of landfills, coal ash closures and rooftops that utilize Watershed Geo’s cover technologies. The combination of these innovative solutions turn liabilities into renewable energy assets.
According to Shaw, both companies’ leadership teams will remain in place.
“This additional investment by Shaw provides increased financial strength and operational capability,” said Mike Ayers, CEO at Watershed Geo and Watershed Solar. “It also represents a meaningful vote of confidence in Watershed Geo’s mission of improving civil and environmental infrastructure resiliency while providing significant, tangible environmental benefits for both our customers and the communities we serve.”
Watershed Geo services the environmental and civil sectors, with customers such as TVA, Environmental Protection Agency, Southern Company, Dow, Rio Tinto, ExxonMobil, Chevron, U.S. Department of Energy, Georgia Pacific, U.S. Department of Defense, public and private waste management facilities and many others.
“We are bullish about continued growth based on the economic and environmental advantages that we create for our clients,” said Kyle Ehman, president of Watershed Geo and Watershed Solar. “Just one of our areas of opportunity is converting landfills into solar parks, unlocking value for companies and communities. With Shaw’s further investment, we will accelerate such progress.”
Shaw originally invested in Watershed Geo in 2011 to infuse capital and diversify the company’s use of its artificial turf manufacturing assets. Shaw is the exclusive provider of turf to Watershed Geo.
“The partnership between Shaw, Watershed Geo and Watershed Solar is a great example of companies working together based on a set of shared beliefs around the value of our customers, innovation, sustainability and the importance of a growth mindset,” said Tim Baucom, Shaw president and CEO. “I’m excited to see where the partnership will take us from here.”