Market Capitalization (Millions $) |
3,326 |
Shares
Outstanding (Millions) |
57 |
Employees |
3,700 |
Revenues (TTM) (Millions $) |
1,880 |
Net Income (TTM) (Millions $) |
179 |
Cash Flow (TTM) (Millions $) |
39 |
Capital Exp. (TTM) (Millions $) |
271 |
Allete Inc
Allete Inc. is a diversified energy company headquartered in Duluth, Minnesota. Founded in 1906, Allete has a long history of providing energy services to customers in the Midwest and beyond. The company operates through three business segments: Regulated Operations, Energy Infrastructure, and Corporate and Other.
The Regulated Operations segment includes Allete's regulated utilities e Minnesota Power and Superior Water, Light and Power. Minnesota Power provides electricity to over 145,000 customers in northern Minnesota, while Superior Water, Light, and Power provides electricity, natural gas, and water services to customers in Wisconsin. These two regulated utilities are responsible for generating, transmitting and distributing electricity to customers in their respective regions. They own and operate a variety of power plants, transmission lines, and distribution systems.
The Energy Infrastructure segment includes Allete Clean Energy, a leading renewable energy developer, owner, and operator, and U.S. Water Services, a provider of integrated water management solutions to industrial customers. Allete Clean Energy develops, constructs, owns and operates wind, solar, and energy storage projects in the U.S. with the goal of meeting the increasing demand for clean and sustainable energy. U.S. Water Services, on the other hand, provides customized programs and solutions to help customers manage water and energy usage, improve efficiency, and reduce costs.
The Corporate and Other segment includes other businesses and investments, such as Allete Properties, which owns and manages real estate properties, and BNI Energy, a lignite coal mining and production company.
Allete has a strong commitment to sustainability and environmental responsibility. In 2018, the company announced a target to achieve an 80% reduction in greenhouse gas emissions by 2050. As part of this commitment, it has invested in a portfolio of renewable energy projects and is exploring new opportunities to further reduce its carbon footprint.
Furthermore, Allete is committed to serving its communities and supporting various charitable organizations. The company's foundation, the Allete Foundation, provides funding for education, the environment, and health and social services in the communities it serves.
In summary, Allete Inc. is a diversified energy company with a long history of providing energy services to customers in the Midwest, with a strong focus on sustainability, environmental responsibility, community involvement, and charitable giving.
Company Address: 30 West Superior Street Duluth 55802 MN
Company Phone Number: 279-5000 Stock Exchange / Ticker: NYSE ALE
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