November 28, 2012 – The Exergy Development Group has announced in a statement that it will not continue its sponsorship of its continental men’s road squad in 2013 due largely to the sullied reputation of cycling brought about by the USADA doping investigation that resulted in Lance Armstrong being stripped of his seven TdF titles.

However, according to businessweek.com, Exergy Development Group is in major financial trouble and has failed paying up to $37.9 million for 32 wind turbines, along with its many cycling sponsorship commitments. Read about it HERE.

The official Exergy statement about discontinuing sponsorship of its continental team makes no mention of financial issues.

Canadian rider Ben Chaddock was named to the roster in the original 2013 team release.

Exergy’s statement does confirm that it will continue to support junior cycling, its women’s ExergyTWENTY16 cycling team, and USA Cycling.