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  • Writer's pictureBy Pacific Island Times News Staff

MRE preparing for initial public offering

Updated: Jun 24, 2021

Micronesia Renewable Energy Inc. is going public through an initial public offering tentatively scheduled for either late September or early October.

While preparing for the IPO pending valuation, MRE is renaming the company "Generation Renewable Inc." to reflect the anticipated global expansion of the company beyond its Asia Pacific roots.

MRE is a leader and premier design/build integrator in solar energy and battery storage systems for the Asia Pacific market.

The IPO will allow MRE to fund the continued internal growth and expand through potential acquisitions both in Asia Pacific and in North America.

“Over the past 10 years, MRE has established itself as a leader in solar energy and battery storage systems. Our company has focused on delivering the highest quality and most cost-effective renewable energy solutions that have provided for a better environment," said Tracy Voacolo, CEO of MRE.

"Our mission to be a contributor towards a cleaner and healthier planet remains the same. Now, our goal turns towards expansion as our success has created opportunities to build a substantially larger organization committed to clean energy. We look forward to this new phase of our growth.”

MRE vice president Jeff Voacolo said the company is in the process of filing its S-1 with the Securities and Exchange Commission for approval.

"After the IPO , the stock will be actively trading and investors interested can read the S-1 filing and determine if it meets their criteria," Jeff Voacolo said. "Investors can read the S-1 and determine if this meets their investing agenda."

The new structure, Jeff Voacolo said, means "a bigger stronger company with an expansion appetite for region and global expansion."

On June 28, MRE will be hosting a ribbon-cutting ceremony at its office/warehouse facility in Harmon to commemorate the launch of the IPO and the name change to Generation Renewable, Inc.

MRE is a privately held company specializing in design/build integration of renewable energy infrastructure with a goal of contributing to a clean energy environment.

MRE said its commitment is to provide the highest quality, most advanced and cost-effective renewable energy solutions including solar energy and battery storage systems which enables clients to reduce their carbon footprint and lower their overall energy costs.

The company serves the residential, commercial and government sectors.

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