Crius Energy to work with Sungevity on residential solar

TORONTO—Crius Energy Trust has announced it has entered into a strategic agreement with Sungevity Inc. that will allow Crius to offer Sungevity’s technology platform to its residential solar customers. Crius said the agreement will allow both companies to quickly access thousands of new potential customers in the fast-growing U.S. solar sector.

“In Sungevity, we’ve found the right strategic partner to take our solar business to the next level,” Michael Fallquist, CEO of Crius Energy Trust, said. “Sungevity’s innovative technology platform, exceptional customer experience and extensive installation network promise to further differentiate our solar offering, expand our total volume of solar capacity sold, and deliver more favorable economics for our stakeholders.”

Crius said the alliance will allow it to earn more from its existing solar business through improved economics, increased sales, and co-branded 20-year customer relationships. The company also expects to see increased sales through leveraging Sungevity’s technology platform and reduced customer cancellation rates due to Sungevity’s extensive distribution network.

“We are confident that our solar business will benefit from Sungevity’s high customer satisfaction ratings and optimized installation process,” Fallquist said. “Crius looks forward to leveraging this new relationship to accelerate one of our stated growth initiatives while driving enhanced value for our unitholders.”