Gen110 said it received an investment from Kleiner Perkins Caufield & Byers. No terms were disclosed.
Gen110 Announces Kleiner Perkins Investment
Silicon Valley pillar backs distributed energy company as a new breed of electricity provider
San Francisco, Calif., May 17, 2012 – Gen110, the leading distributed energy company, today announced it has received investment funds and business development support from Kleiner Perkins Caufield & Byers, widely regarded as the leading investor in the field of energy technology.
The Gen110 approach is simple: qualified homeowners pay for the energy they produce, saving on energy costs through a fixed rate agreement and protecting themselves from utility rate hikes. Maintenance and insurance of power generating equipment is taken care of, making it a cost effective solution that delivers more power for less.
“Our customers get affordable, reliable electricity rates without purchasing a power generation system,” said Jason Brown, CEO of Gen110. “We parse voluminous data on energy usage to identify homeowners who stand to save the most from distributed electricity. These are fresh markets for the industry in many ways, since the legacy players have focused on ‘green’ audiences. We focus on reaching people to whom we can make a clear-cut economic case—and it’s working.”
With 11 offices throughout California, Gen110’s dedicated sales team brings affordable power generation solutions to thousands of homeowners.
Gen110 is the leading distributed energy company providing a cost-effective, alternative way for heavy energy users to purchase residential power. Gen110 has helped more than 2,000 homeowners in California avoid utility rate hikes by producing approximately 13 gigawatt hours of electricity annually at their own homes. A private company based in San Francisco, Gen110 was founded in 2009 to free customers from total dependence on traditional utility companies. To learn more, visit www.gen110.com.