NRG Energy to acquire Goal Zero
NRG Energy will acquire personal solar products supplier Goal Zero, a move it says aligns with the company’s mission to lead the US market in “offering cleaner, smarter choices and sustainable lifestyle solutions to end-use energy consumers.”
NRG did not release financial terms of the transaction, which it expects to finalize in the third quarter.
"The ultimate manifestation of distributed clean generation is personal power. Only about one in four Americans are themselves homeowners but every American has a need for personal energy free from the tether of plug and cord," says NRG chief executive David Crane.
He calls Goal Zero the “best company in its field.”
Crane claims that the acquisition, when aligned alongside NRG’s established system power franchise and its fast-growing residential solar business, will enable “us to serve every American who desires to be part of the clean energy future."
Goal Zero, based in Salt Lake City, markets a suite of portable solar power and battery-pack products and accessories. It has strong research and development capabilities, and employs about 100 people, according to NRG.
Goal Zero was originally conceived to solve humanitarian challenges, focused on aid to the Congo and the compelling need for carbon-free source of reliable electricity in sub-Saharan Africa. Its products are now popular with the outdoor and adventure sports community.
NRG plans to add Goal Zero to its recently formed NRG Home unit centered on its nearly three million retail electricity customers and a smaller, but fast-growing residential solar company – NRG Home Solar.
In a statement, the company says Goal Zero will add a third leg to its NRG Home end-use energy consumer strategy that harnesses the “reciprocal synergies and cross-selling opportunities” between them.
“Each part of the strategy supports the other through shared access to multiple distribution channels and customer bases,” it says.
NRG expects to combine product and service offerings. For example, educating Goal Zero customers about the possibilities of rooftop solar and combining portable Goal Zero solar products with NRG’s retail electricity offers.