CBRE Adds Altus Power to Strategic Supply Chain Sourcing Program

Sep 21, 2021 | News, Press Releases

CBRE clients will now have direct access to a market-leading provider of solar energy and other
clean electrification capabilities
Dallas, TX – September 21, 2021 – CBRE today announced that Altus Power, a market-leading
clean electrification company, has joined FUSION, CBRE’s strategic project management supply
chain sourcing program.
Harnessing CBRE’s scale and buying power with the most prominent suppliers, the FUSION
supply chain program provides CBRE’s Global Workplace Solutions clients with access to capitalexpenditure-focused procurement oversight and preferred supply chain pricing on materials and
Altus Power uses a data-driven approach to build onsite solar, combining building energy
consumption data, the design and sizing of battery storage, and clean electric vehicle charging
infrastructure, all of which can be integrated with other buildings to create a networked clean
energy grid.
Altus Power is the only clean electrification company in the FUSION program and joins many
other best-in-class suppliers as FUSION partners.
“With Altus Power joining the FUSION program, our clients will now have direct access to one of
the leading owners and operators of solar generation and energy storage across the U.S.,” said
Terry Doumkos, CBRE’s Global Vice President of Strategic Sourcing for Project Management and
FUSION Leader.
“Altus Power is focused on providing customers with reliable and clean electric power at
competitive prices under long-term agreements,” said Lars Norell, Co-CEO of Altus Power. “We
are pleased to partner with CBRE and the FUSION program to deliver these solutions to their
clients to help them meet their carbon-reduction goals.”
In July, Altus Power and CBRE Acquisition Holdings (NYSE: CBAH) announced a planned
business combination that will result in Altus Power becoming a public company listed on the New
York Stock Exchange under the new ticker symbol “AMPS.” CBAH is a special-purpose
acquisition company sponsored by CBRE Group, Inc.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in
Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020
revenue). The company has more than 100,000 employees serving clients in more than 100
countries. CBRE serves a diverse range of clients with an integrated suite of services, including
facilities, transaction and project management; property management; investment management;
appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services
and development services. Please visit our website at
About Altus Power
Altus Power, based in Stamford, Connecticut, is creating a clean electrification ecosystem,
serving its commercial, public sector and community solar customers with locally-sited solar
generation, energy storage, and EV-charging stations across the U.S. Since its founding in 2009,
Altus Power has developed or acquired in excess of 340 megawatts from Vermont to Hawaii. Visit to learn more.
No Offer or Solicitation
This communication is not a proxy statement or solicitation of a proxy, consent, or authorization
with respect to any securities or in respect of the planned business combination between Altus
Power and CBAH (the “Business Combination”) and the other transactions contemplated by the
business combination agreement entered into by Altus Power and CBAH (the “Business
Combination Agreement”) and shall neither constitute an offer to sell or the solicitation of an offer
to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer,
solicitation or sale would be unlawful prior to the registration or qualification under the securities
laws of any such jurisdiction.
Important Information About the Business Combination and Where to Find It
CBAH has filed with the U.S. Securities and Exchange Commission (“SEC”) a Registration
Statement on Form S-4 (the “Registration Statement”), which includes a preliminary proxy
statement/prospectus in connection with the proposed Business Combination and will mail a
definitive proxy statement/prospectus and other relevant documents to its stockholders. CBAH’s
stockholders and other interested persons are advised to read, when available, the preliminary
proxy statement/prospectus, and amendments thereto, and the definitive proxy
statement/prospectus in connection with CBAH’s solicitation of proxies for its stockholders’
meeting to be held to approve the Business Combination because the proxy
statement/prospectus will contain important information about CBAH, Altus Power and the
Business Combination. The definitive proxy statement/prospectus will be mailed to stockholders
of CBAH as of a record date to be established for voting on the Business Combination.
Stockholders will also be able to obtain copies of the Registration Statement and the proxy
statement/prospectus, without charge, once available, at the SEC’s website at or by
directing a request to CBRE Acquisition Holdings, Inc., 2100 McKinney Avenue, Suite 1250,
Dallas, TX 75201.
Participants in the Solicitation
CBAH, Altus Power and certain of their respective directors and officers may be deemed
participants in the solicitation of proxies of CBAH’s stockholders with respect to the approval of
the Business Combination. CBAH and Altus Power urge investors, stockholders and other
interested persons to read the Registration Statement, including the preliminary proxy
statement/prospectus and amendments thereto and the definitive proxy statement/prospectus and
exhibits thereto, as well as other documents filed with the SEC in connection with the Business
Combination, as these materials will contain important information about Altus Power, CBAH and
the Business Combination. Information regarding CBAH’s directors and officers and a description
of their interests in CBAH is contained in the Registration Statement.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements
may be identified by the use of words such as “anticipate”, “believe”, “could”, “continue”, “expect”,
“estimate”, “may”, “plan”, “outlook”, “future” and “project” and other similar expressions that predict
or indicate future events or trends or that are not statements of historical matters. These
statements, which involve risks and uncertainties, relate to the use of proceeds for the new credit
facility and analyses and other information that are based on forecasts of future results and
estimates of amounts not yet determinable and may also relate to CBAH’s and Altus Power’s
future prospects, developments and business strategies. In particular, such forward-looking
statements include statements concerning the timing of the Business Combination, the business
plans, objectives, expectations and intentions of CBAH once the Business Combination and the
other transactions contemplated thereby (the “Transactions”) and change of name are complete
(“New Altus”), and New Altus’s estimated and future results of operations, business strategies,
competitive position, industry environment and potential growth opportunities. These statements
are based on CBAH’s or Altus Power’s management’s current expectations and beliefs, as well as
a number of assumptions concerning future events.
Such forward-looking statements are subject to known and unknown risks, uncertainties,
assumptions and other important factors, many of which are outside CBAH’s or Altus Power’s
control, that could cause actual results to differ materially from the results discussed in the
forward-looking statements. These risks, uncertainties, assumptions and other important factors
include, but are not limited to: (1) the occurrence of any event, change or other circumstances
that could give rise to the termination of the Business Combination Agreement; (2) the inability to
complete the Transactions due to the failure to obtain approval of the stockholders of CBAH or
Altus Power or other conditions to closing in the Business Combination Agreement; (3) the ability
of New Altus to meet NYSE’s listing standards (or the standards of any other securities exchange
on which securities of the public entity are listed) following the Business Combination; (4) the
inability to complete the private placement of common stock of CBAH to certain institutional
accredited investors; (5) the risk that the announcement and consummation of the Transactions
disrupts Altus Power’s current plans and operations; (6) the ability to recognize the anticipated
benefits of the Transactions, which may be affected by, among other things, competition, the
ability of New Altus to grow and manage growth profitably, maintain relationships with customers,
business partners, suppliers and agents and retain its management and key employees; (7) costs
related to the Transactions; (8) changes in applicable laws or regulations and delays in obtaining,
adverse conditions contained in, or the inability to obtain necessary regulatory approvals required
to complete the Transactions; (9) the possibility that Altus Power and New Altus may be adversely
affected by other economic, business, regulatory and/or competitive factors; (10) the impact of
COVID-19 on Altus Power’s and New Altus’s business and/or the ability of the parties to complete
the Transactions; (11) the outcome of any legal proceedings that may be instituted against CBAH,
Altus Power, New Altus or any of their respective directors or officers, following the
announcement of the Transactions; and (12) the failure to realize anticipated pro forma results
and underlying assumptions, including with respect to estimated stockholder redemptions and
purchase price and other adjustments.
Additional factors that could cause actual results to differ materially from those expressed or
implied in forward-looking statements can be found in the Registration Statement and CBAH’s
proxy statement/prospectus when available. New risks and uncertainties arise from time to time,
and it is impossible for us to predict these events or how they may affect us. You are cautioned
not to place undue reliance upon any forward-looking statements, which speak only as of the date
made, and CBAH and Altus Power undertake no obligation to update or revise the forward-
looking statements, whether as a result of new information, changes in expectations, future
events or otherwise.
This communication is not intended to be all-inclusive or to contain all the information that a
person may desire in considering an investment in CBAH and is not intended to form the basis of
an investment decision in CBAH. All subsequent written and oral forward-looking statements
concerning CBAH and Altus Power, the Transactions or other matters and attributable to CBAH
and Altus Power or any person acting on their behalf are expressly qualified in their entirety by the
cautionary statements above.

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