Orix Corp., a Japanese finance and leasing company, acquired an 80 percent share in Enovity, a U.S. building energy management services company.
Enovity provides services in energy management and building automation, mainly in California, Orix said in a statement today. No terms were disclosed.
The market for energy-saving systems is expected to expand in Asia including China, Singapore and the Philippines, according to the statement.
The Tokyo-based company has been investing in clean energy such as solar and geothermal in Japan and in June acquired a 20 percent stake in Global Business Power Corp., an energy services company in the Philippines, according to the statement.