- Zenergy’s
acquisition of REP leads to roll out of Zenergy Power & Gas utility
- Company
specializes in next-generation utilities-saving measures to improve
environmental sustainability
- An
increasing number of business and residential energy consumers are turning
to smart technology to manage utilities, boosting service and product
market
Next-generation energy utility Zenergy Brands, Inc. (OTC:
ZNGY) amped up its suite of smart energy services when it completed the
acquisition of Texas retail electric provider (REP) Enertrade Electric LLC last
spring. Zenergy has now announced the next step in turning its subsidiary
toward the company’s overall mission of delivering retail electricity and
natural gas, as well as energy conservation and efficiency services, to its
residential and corporate customers.
Enertrade Electric, doing business as Shyne Energy in its
service to electric utility customers throughout the state of Texas, will now
be known as Zenergy Power & Gas, Inc. following an amended listing with the
state’s Public Utility Commission (http://ibn.fm/YCJom). The rebranding effort moves the
“virtual utility” to a plane where the utility services and Zenergy’s stable of
smart control products can work together to establish the company as a market
leader in creating an earth-friendly and customer cost-efficient power system.
“I am excited about the rollout of our REP because I am
convinced that this convergence of our retail energy services and our smart
home controls into one offering gives us a strategic advantage in the
industry,” Zenergy Senior Vice President of Operations Chris Crabtree stated in
the news release announcing the change. “In my almost two decades in the
industry building and managing REP operations, this is by far the most unique
value proposition I have encountered.”
“Our newfound ability to cross-sell and up-sell our smart
home controls and systems with our retail energy products and services allows
for a whole new avenue of marketing possibilities,” added Grant Magers,
president of Zenergy’s Home Services Division.
Zenergy’s flagship Zero Cost Program offers transparent
solutions for water, gas and energy conservation and sustainable use to
commercial, industrial and municipal end-use customers.
Zero Cost provides for the upgrading of older, inefficient
equipment and assets at no upfront expense. The program is operated under the
standard terms of a Managed Energy Services Agreement (MESA) in which Zenergy
assumes the obligations related to the energy-efficient measures and the
customer contracts to pay a downward scaling portion of the saved utility expenses
to Zenergy over the term of the agreement. The program’s competitive appeal to
businesses is in that it offer to reduce customers’ utility consumption
anywhere from 20 to 60 percent through those products and services.
The term of the contracts is expected to be for a minimum of
five years. In July, Zenergy announced that it had inked a seven-year agreement
with U.S.-based bitcoin mining operation BitPlus, Ltd., a
blockchain-oriented company using an innovative energy sourcing strategy to
gain a competitive advantage in the bitcoin mining industry (http://ibn.fm/pyAg9).
Analysts at PwC and Statista report that commercial building
owners are turning to smart energy systems to help them meet 2020 goals for
energy efficiency (http://ibn.fm/KnOw4),
and residential consumers are incorporating smart-function technology to manage
their home usage at an increasing rate, with 53.1 percent adoption anticipated
by 2022 (http://ibn.fm/tJIXI).
“The closing on the Enertrade REP Acquisition is a major
milestone for Zenergy because we believe that the combination of the REP and
Zero Cost services offered as a commercial package may create a very strong,
low churn, highly valuable book of business,” Zenergy Chairman Byron Young
added (http://ibn.fm/kH7HR).
For more information, visit the company’s website at www.ZenergyBrands.com
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