Pure Energies Group, a Toronto-based provider of solar power systems, announced Monday that it is acquiring venture-backed One Block off the Grid, a provider of solar system installation estimates for homeowners, for an undisclosed sum. San Francisco-based One Block off the Grid raised $5 million in 2010 with backing from New Enterprise Associates.
The full announcement is here:
PURE ENERGIES GROUP EXPANDS ITS PORTFOLIO OF COMPANIES WITH ACQUISITION OF SOLAR DEAL PROVIDER ONE BLOCK OFF THE GRID
TORONTO, JULY 9th, 2012- Pure Energies Group (PEG) announced today its acquisition of America’s best-known solar deal provider, One Block Off the Grid. One Block Off the Grid also announced an expanded comparison shopping service designed to empower homeowners to get the best deal on solar power, following a recent round of capital raised from existing investor New Enterprise Associates (NEA). This acquisition affirms PEG’s strategy to expand throughout North America, becoming the trusted adviser to homeowners as they evaluate solar power or energy conservation equipment options. As with its initial customer focus on the Ontario Feed in Tariff, PEG will continue to focus on helping consumers achieve the best possible value in implementing solar energy and energy conservation solutions.
“Pure Energies Group is excited to bring to homeowners the best technology and the most cost-effective solutions for solar energy as well as energy conservation,” says Pure Energies Group CEO Zbigniew Barwicz. “We believe there is tremendous opportunity in this emerging retail market segment – in fact, the U.S. market alone more than doubled last year. Acquiring One Block Off the Grid will help us extend the foundation we’ve built since launching PURE energies in 2009, following Ontario’s landmark Green Energy and Economy Act.”
One Block Off the Grid’s new shopping service aims to help homeowners secure the best deal on solar power by providing price comparisons that allow consumers to choose from industry-leading solar providers within a specific geographic area. One Block Off the Grid will partner with PURE energies, a subsidiary of PEG, to screen and select providers that offer the best price points and the highest level of consumer satisfaction.
“We want to give homeowners the best deal possible, by having all the best options in any given geography, and offering the fastest and most painless online sales process you can get” said One Block Off the Grid’s Dave Llorens the company’s founder and CEO, who will now become its COO. “Getting multiple quotes is a chore. We let the customer skip past that with a one-stop-shop. .Becoming part of Pure Energies lets us do that faster, better and in more places.”
Pure Energies Group plans to maintain and grow its employee base both in the U.S. and Canada.
About Pure Energies Group (PEG)
PEG is a pan American corporation headquartered in Toronto, Canada that operates two portfolio renewable energy companies, PURE energies in Canada and One Block Off the Grid in the United States.
About PURE energies
PURE energies is a Toronto based Canadian renewable energy company providing solar energy systems under the Ontario Power Authority’s Micro FIT program and energy efficiency products. The Company designs, installs, finances, operates and maintains residential rooftop solar systems with a 20 year guarantee. PURE energies is the leading residential solar development company in the Ontario market. To learn more about PURE energies visit www.pure-energies.com
About One Block Off the Grid
One Block Off the Grid makes it convenient and easy to understand and shop for solar energy. One Block Off the Grid provides homeowners with free, detailed solar system estimates and designs by email or phone, without need for an onsite visit. Founded in 2008, One Block Off the Grid has helped thousands of homeowners go solar in 40 U.S. states and continues its track record of connecting homeowners with great local deals on home solar systems. To get hooked up with great deals on solar in your area, sign up free at One Block Off the Grid.org or call 1-877-444-4002.