Crius Solar, a firm holding a strategic alliance with Sungevity Inc., has inked an agreement to acquire certain assets from SunEdison Inc. The $1.5 million price tag includes a residential solar lead-generation platform, customer lead databases, marketing materials and human capital.
The proposed acquisition is expected to significantly expand Crius Solar’s capabilities in the solar energy segment. The closing of the transaction is subject to customary conditions, including approvals required by the SunEdison bankruptcy process.
"We expect the acquisition to increase solar sales as the technology platform acquired enables us to partner with third-parties for lead generation and sales plus new operational capabilities will result in a higher margin contribution from each solar system sold,” said Michael Fallquist, CEO at Crius Energy Trust, the owner of Crius Solar.
The expanded solar capabilities of Crius will be complemented by the existing strategic alliance with global solar energy provider Sungevity. Crius will continue to offer residential solar energy products in all its current markets provided by Sungevity.
Crius Solar is owned by Crius Energy, which is in turned owned by Toronto-based Crius Energy Trust.