- 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://nnw.fm/3WsTW). 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://nnw.fm/u3PdO).
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://nnw.fm/T7AzQ), 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://nnw.fm/2JzQW).
“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://nnw.fm/aq7Wu).
For more information, visit the company’s website at www.ZenergyBrands.com
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