Solar Universe Becomes Top Player in Solar Industry with Acquisition of Gen110
Acquisition Equips Solar Universe with the Ability to Reach Potential and Existing Customers in Multiple Ways to Drive Growth in New Franchise Markets
SAN FRANCISCO - Sept. 5, 2013 - (BUSINESS WIRE) - 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.
“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.
“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,” said Joe Miller, Executive Vice President of Business Development. “These canvassing capabilities will be powerful new marketing tools in existing markets to help expand franchises. Solar is truly a local business and nothing could be more local than personal contact with consumers.”
For more information about Solar Universe, please visit: www.solaruniverse.com
About Solar Universe
Solar Universe is the leading solar franchising concept bringing solar panels to consumers through its network of locally owned and operated install franchises. Using a scalable franchise model, Solar Universe is changing the face of the solar industry by enabling consumers to produce power at home through easy and affordable installation. The company was founded in 2008 by President and CEO, Joseph Bono and has 37 locations in the United States.
SutherlandGold Group for Solar Universe
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