Storm Exchange has announced that it is to acquire Weather Ventures. The acquisition will expand Storm Exchange’s weather and climate research capabilities and add a highly-regarded group of atmospheric scientists to the firm’s management team. Simultaneously, Storm Exchange will open a weather research center at The Pennsylvania State University, home of the nation’s leading meteorology department.
“By joining forces with Drs. Dutton and Ross, we’ve added expertise and experience in atmospheric science to advance the breadth of our weather risk management solutions. This relationship will allow us to lead the capital markets into categories of weather risk that were previously unattainable,” said David Riker, Storm Exchange CEO. “We expect to see long-term dividends from our new research center that will be at the epicenter of both meteorological and weather risk research.”
Further details from Business Wire.