NRG Energy has signed an agreement to acquire Goal Zero, a provider of personal solar products, to add their consumer products company into the NRG family of companies.
Financial terms of the transaction were not disclosed
The acquisition will help NRG to lead the market offering smarter and more sustainable lifestyle solutions to end-use energy consumers across the country.
“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,” said David Crane, president and CEO of NRG.
“The acquisition of Goal Zero – the best company in its field – aligned alongside our established system power franchise and our fast-growing residential solar business, dramatically expands our reach, enabling us to serve every American who desires to be part of the clean energy future,” Crane added.
Headquartered in Salt Lake City, Goal Zero currently markets a suite of portable solar power and battery-pack products and accessories and has strong research and development capabilities.
Goal Zero was originally conceived to solve humanitarian challenges, focused on aid to the Congo and the compelling need for a fossil fuel – free source of reliable electricity in sub-Saharan Africa.
Robust, highly practical products developed by Goal Zero for this humanitarian application quickly won wide acceptance in the outdoor and adventure sports community.
Robert Workman, founder and CEO of Goal Zero, said, “Both Goal Zero and NRG have similar give-back initiatives. Both companies have proven track records of helping those in need with services and products, whether it is lighting a hut in Congo or a school in Haiti.”
Through this acquisition, NRG adds the third leg to its NRG Home end-use energy consumer strategy built around harnessing the reciprocal synergies and cross-selling opportunities between system power, residential solar and personal power.
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.
“With the addition of Goal Zero’s feature-rich personal solar solutions, everyone can experience solar firsthand and can count on NRG to provide the full range of power solutions at home and on the go,” said Elizabeth Killinger, president of NRG Retail.