Houston-based renewable energy developer Proteus Power is set to be acquired by JBB Advanced Technologies, led by founder John B. Billingsley. The acquisition, expected to finalize in Q4 2024, aims to enhance Proteus Power's portfolio of 15.5 gigawatts of utility-scale solar and battery energy storage projects, projected to cost approximately $3.38 billion over the next four years.

Billingsley emphasizes the potential of renewable energy for local communities, forecasting significant economic benefits across Texas. Proteus Power's headquarters will move to JBB's Carrollton location, retaining all current employees and planning an additional office in Lubbock. The deal positions JBBAT to further its mission of providing clean, affordable energy solutions while leveraging Proteus Power's experienced development team.