Sungevity 2.0 continues to grow: Horizon Solar Power, Solar Spectrum acquire two more companies

solar company merger

Recently merged Horizon Solar Power and Solar Spectrum – a move that revived the Sungevity brand — have announced definitive agreements for two more acquisitions. Horizon has acquired BrightCurrent, a large retail marketing services provider for solar and other clean energy home services; Solar Spectrum has acquired the solar sales division of Skyline Solar, a full service solar management company.

These announcements and Horizon’s merger with Solar Spectrum within the Sungevity brand represents a significant expansion of the two company’s footprint. The Solar Spectrum and Horizon partnership created the second largest provider of residential solar systems in California and the fourth largest in the country. The acquisition of Skyline Solar and BrightCurrent will further broaden the company’s national presence while enhancing its retail and field marketing capabilities.

“Partnering with Skyline Solar and BrightCurrent allows Solar Spectrum and Horizon to take one more step towards our vision of providing homeowners and businesses across the country the highest quality solar solutions, backed by the very best in customer care and industry-leading technology,” stated Brian Walrod, President of Horizon Solar Power. “The addition of both organizations provides us the opportunity to our expand national reach while ensuring long-term sustainability and enhancing productivity and our customer experience.”

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Meet the companies

Founded in 2012, BrightCurrent is a marketing services provider specializing in field marketing for high value products that often require complex, multi-step sales processes. The company helps leading big box retailers generate demand for energy home services by leveraging its proprietary field marketing technology platform and its national network of approved product partners.

“Our vision from the start was to drive clean energy adoption by getting residential solar into the nation’s leading retail outlets,” stated John Bourne, BrightCurrent’s CEO & Board Member. “This acquisition will further help us accomplish this important mission.”

Based in New Jersey, Connecticut and Massachusetts, Skyline Solar is a full-service solar management company offering a full range of project development services. Through its experienced team of licensed architects and engineers, the company specializes in comprehensive project documentation from initial concepts and site selection/evaluation through site plan development/approval, as well as complete building design and construction.

— Solar Builder magazine

Solar tech provider Sungevity files for bankruptcy, sells off assets

sungevity online buying

Sungevity, a technology-driven solutions provider, has commenced voluntary Chapter 11 proceedings in U.S. Bankruptcy Court for the District of Delaware, in order to facilitate a financial and corporate restructuring to strengthen its balance sheet and recapitalize the company.

In connection with the restructuring process, and under Section 363 of the Bankruptcy Code, the company has entered into an asset purchase agreement with a group of investors, led by Northern Pacific Group. Under the terms of the agreement, Northern Pacific Group will acquire substantially all of the company’s assets, including the equity interests in the European operations.

While Sungevity’s European operations are part of the transaction, their day-to-day operations will not be impacted as a result of the Chapter 11 proceedings in the U.S. The purchase agreement sets the floor, or minimum acceptable bid, for an auction under the supervision of the court, which is designed to achieve the highest available offer. Sungevity expects to complete its financial restructuring and sale through an expedited process. A final sale approval hearing and closing of the sale is expected to take place by the end of April.

To provide capital for the company’s operations and to fund the auction and sale process, the group of investors has committed to provide the company with up to $20 million in financing. Subject to interim court approval, the financing will be immediately available to the company, to be used to fund the company’s day-to-day operations, and pay any expenses related to the Chapter 11 proceedings.

 

— Solar Builder magazine

New solar sales partnership formed in select markets between Sungevity, JLM Energy

SungevityHere’s a partnership that could streamline solar sales and installs in certain areas: Sungevity, Inc., a technology company with a platform for the sale and installation of solar energy systems to residential and commercial customers, is teaming with Just Energy Group Inc. and its energy management solutions to accelerate solar adoption in several of the leading U.S. solar markets.

Cool … where?

Commencing in January 2017, Just Energy will leverage Sungevity’s platform to sell Sungevity Energy Systems to customers in California, Massachusetts, New Jersey and New York, four of the top ten solar markets in the nation according to the Solar Energy Industry Association (SEIA).

Just Energy services nearly two million customers in North America and the UK with energy solutions, including green energy product options and energy efficient programs that empower customers to support a cleaner environment. Sungevity directly services solar customers across the U.S. and Europe, and also leverages its platform with a broad range of strategic partners to rapidly scale its business.

RELATED: Four steps for converting more solar sales 

What the companies are saying

“As a proven leader in energy management solutions, we were looking for the best partner to scale our solar offering,” said Deb Merril, President and Co-CEO at Just Energy. “Given their platform and approach to customer service, we recognized Sungevity to be the right choice. Just Energy solar customers will immediately benefit from Sungevity’s post-sale management and installation capabilities.”

“At Sungevity, we are focused on strategic growth through our partner eco-system, and our partnership with Just Energy, one of the leading energy management companies, is a natural fit,” said Andrew Birch, Sungevity’s Co-Founder and Chief Executive Officer. “Just Energy’s ability to deliver proven value to homeowners for twenty years and our best-in-class platform will enable Just Energy to more efficiently scale their solar footprint and offer customers the very best solar experience.”

— Solar Builder magazine

Solar Brokers Canada, Sungevity partner to start marketing residential PV systems in U.S.

sungevity online buyingSungevity, Inc. and Solar Brokers Canada, Canada’s largest solar energy reseller generating over 12 MW of business in 2015 throughout the Canadian market, announced a partnership to market Sungevity Energy Systems to prospective residential customers in the Unites States. Enabled by Sungevity’s software technology platform and actively commencing in October 2016, the partnership will cover the U.S. states in which Sungevity currently services residential customers, with an initial focus on California.

The deal between Sungevity and Solar Brokers Canada, which will operate as Solar Brokers America in the U.S., links two companies with similar partner-based business models, and who share a mutual focus on providing a high degree of customer service.

RELATED: Sungevity has helped raise more than $2 million for nonprofit partners 

“We are excited to continue our rapid growth, and scale our presence in the American solar market,” said J.C. Awwad, Chief Executive Officer, Solar Brokers Canada. “We chose to partner with Sungevity primarily because our complimentary business models create synergy between our two companies. We are confident that this partnership will add value to the marketplace.”

“Our new partnership with Solar Brokers Canada is another proof point that we provide a highly attractive, efficient solution for businesses looking to scale their solar offering,” said Andrew Birch, Chief Executive Officer, Sungevity, Inc. “We are very pleased to join forces with them as they enter the U.S. solar marketplace.”

— Solar Builder magazine

Sungevity has helped raise more than $2 million for nonprofit partners

Sungevity Inc., a technology-driven solutions provider, has raised more than $2 million for its nonprofit partners through the company’s Sungevity.org partner initiative. The program proliferates the uptake of solar power and helps Sungevity grow its customer base while simultaneously raising funds for a broad range of nonprofit organizations. Sungevity provides funding to participating organizations for each nonprofit member or supporter who goes solar through the program.

SungevityInitially launched in 2011 with Helen Hunt, Ed Begley, Jr. and Ed O’Neil, to support Westside Waldorf School, Sungevity.org’s partner portfolio has grown to over 100 non-profits, including the Sierra Club, The University of California at Berkeley and MoveOn.org. In addition to contributing over $2 million to nonprofit partner initiatives, the Sungevity.org program is expected to offset the equivalent of over 62 million lbs. of carbon emissions through solar systems created from the program.*

“Sungevity’s non-profit partnership program clearly demonstrates how the for-profit and nonprofit business sectors can work hand-in-hand to tangibly advance each other’s causes and have a lasting effect on our society,” said Michael Brune, Executive Director, Sierra Club. “We applaud Sungevity for developing and growing this innovative cause marketing initiative, and we are very pleased to share in its success.”

The Sungevity.org program is part of Sungevity’s broader partnership and technology platform model designed to accelerate the mass adoption of solar power and lower the high cost of customer acquisition in the residential solar sector.

— Solar Builder magazine