Solar Universe becomes top player in Solar industry with acquisition of Gen110
Friday, Sep 06, 2013
Solar Universe (www.solaruniverse.com), the leader in solar franchising, today announced it has acquired Gen110, one of the nation’s leading distributed electricity companies and a pioneer in direct sales. The acquisition will allow Solar Universe to utilize the powerful sales capabilities developed by Gen110 – providing a unique new, low cost way of acquiring customers without expensive marketing campaigns. As Solar Universe continues to evolve as an emerging player in the solar industry, the addition of Gen110 will give Solar Universe more opportunities to reach a wider range of customers with a cost-effective and proven method.
“This is a really great opportunity to take our message right to the front door of consumers who will benefit most from the great energy products we sell and install”
“Gen110 is a terrific complementary asset to our core business,” said Joe Bono, CEO and Founder of Solar Universe. “Our business has always been based on arming our franchises with the best customer acquisition tools.
The addition of Gen110 allows us to develop new offices with great speed and lower cost than ever before.”
This acquisition comes as the company continues to grow at an impressive rate. Last month, Solar Universe unveiled a new online design center to simplify and expedite the solar sales experience and recently added Long Island to their already exceptional list of franchises. The new franchise was in operation for 6 years in both the solar and the wind industries, prior to joining the Solar Universe Network and is a solid player on the east end of Long Island. The combination of online selling and smart in-home sales will work in tandem to create a competitive cost advantage for the Livermore-based company.
“Our vision is that one day every home will produce on-site electricity, so combining our sales expertise with the installation know-how of Solar Universe is a very exciting prospect,” said Jason Brown, Co-Founder and CEO of Gen110. “We’re looking forward to working with Solar Universe and providing homeowners with a more seamless path to getting cleaner and cheaper electricity.”
San Francisco-based Gen110 was founded in 2009 as Solmentum, changing its name to Gen110 in January 2012. The new name refers to the 110-volt electrical wiring and outlets commonly found in a home and serves as a metaphor for generating clean power where it is consumed. Kleiner Perkins Caufield & Byers invested in the company in May 2012.
Source: Business Wire