Sungevity, Inc said it is taking an equity stake in the new Dutch solar company, Zonline. No terms were disclosed. Sungevity, an Oakland-based solar installer, will provide Zonline with its software tools, including its remote solar design services and brand identity assets.
SUNGEVITY® ANNOUCES INTERNATIONAL LAUNCH
— Partnership with Dutch Solar Firm Zonline Makes Sungevity First
U.S. Residential Solar Company to Expand Internationally —
OAKLAND, Calif., November 17, 2011 – Sungevity®, Inc., recognized as a national leader in solar innovation and customer satisfaction, today announced that it is expanding internationally by taking an equity stake in new Dutch solar company, Zonline. Through the partnership, Sungevity will provide Zonline with its proprietary software tools, including the company’s remote solar design services and brand identity assets, enabling the new Dutch company to quickly establish itself in the second highest priced energy market in Europe, and provide homeowners an easily accessible, competitively priced source of clean energy. Oakland-based remote solar design staff will generate iQuotes (Sungevity’s online price quote) for prospective Zonline customers. The agreement between the two companies, which goes into effect on November 25, 2011, makes Sungevity the first U.S. residential solar company to expand internationally and serves as a proof point of the company’s highly efficient, growth model.
“Our recent successful expansion to five Northeast states simultaneously was a major proof point that our business model is highly scalable,” said Danny Kennedy, President, Sungevity. “We are now excited about the opportunity to introduce our business model in Europe through our new partnership with Zonline.”
“Sungevity is at the forefront of the solar leasing market with their best-in-class customer service and they have the most efficient and scalable business model in the residential solar industry,” said Roebyem Anders, Chief Executive Officer, Zonline. “Leveraging Sungevity’s tools and assets will allow us to ramp quickly and spur the adoption of clean, affordable energy to Dutch homeowners.”
Sungevity has experienced a banner year in 2011 due to a successful East Coast expansion and a major partnership with Lowe’s, the world’s second largest home improvement retailer. Since January 2011, monthly sales have increased ten-fold and employee headcount has tripled to approximately 300 at the company’s Oakland, CA headquarters. Overall, Sungevity has raised tax equity funds to support over $175 million in residential solar projects and has become one of the nations’ fastest growing solar companies with a presence in eight states, including Arizona, California, Colorado, Delaware, Massachusetts, Maryland, New Jersey and New York.
Sungevity® is a leading innovative customer-centric residential solar company. Leveraging web-based solar analytics and satellite imagery, the company’s online iQuote process – combined with its Solar Lease program – provides homeowners with the easiest, most affordable solar energy solution. Sungevity is growing at a rapid pace, increasing its customer base by ten-fold and quadrupling employee headcount over the past year. The company currently provides solar services in eight states, including Arizona, California, Colorado, Delaware, Maryland, Massachusetts, New Jersey and New York, and is the exclusive residential solar partner for Lowe’s, the world’s second-largest home improvement retailer. For more information, visit Sungevity.com.
Zonline is a new residential solar sales company based in Amsterdam, The Netherlands that provides Dutch homeowners with the most efficient, customer-centric solar energy solution. The company works with Dutch utility GreenChoice to provide financed solar energy contracts to households at competitive market rates. Zonline is partially owned by Oakland, California-based Sungevity and utilizes the company’s proprietary software, brand identity assets and customer-focused user experience.