SunPower: Agreement with Sunverge
SAN FRANCISCO and SAN JOSE, California - SunPower Corp. (NASDAQ: SPWR) and Sunverge Energy, Inc. announced an exclusive agreement that offers SunPower's fully integrated SunPower solar power systems and Sunverge's advanced Solar Integration System (SIS) energy storage solutions to residential customers and utilities in the U.S. The two companies are providing a similar offering to Australian customers. SunPower and Sunverge expect to make combined solar and storage solutions broadly commercially available in early 2015.
"Over the next five years, we expect to see a disruptive shift in the energy market, with solar power, energy storage, smart devices, energy management technologies and electric vehicles being combined," said SunPower CEO Tom Werner. "As we join Sunverge's adaptable and reliable storage solutions with SunPower's high performance solar technology, we're giving consumers a 'Smart Energy' solution that will deliver unprecedented levels of personalization, value and control. Providing this integrated solution to utilities allows them to access the benefits of rooftop solar and storage at significant scale."
"Sunverge is a leader in the distributed energy storage market, with customers and projects around the world and hundreds of systems in production operating to the highest standards of performance, reliability and safety," said Sunverge CEO Ken Munson. "Our unique hardware and software platform allows customers to bundle solar, energy storage, and other distributed resources and manage them as a fleet to enhance the long-term value of their energy investments."
"Together with SunPower, we can deliver an 'end-to-end' solar and storage solution that bundles services from design and installation to monitoring, support and beyond," Munson continued. "This solution offers tremendous benefits on both sides of the meter, from more reliable and cost-effective energy for the consumer to enhanced grid-management and ancillary services capabilities for utilities. No other comparable market offering provides this kind of depth and breadth of service and value to consumers and utilities."
About SunPower Corporation
SunPower Corporation (NASDAQ: SPWR) designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today. Residential, business, government and utility customers rely on the company's quarter century of experience and guaranteed performance to provide maximum return on investment throughout the life of the solar system. Headquartered in San Jose, Calif., SunPower has offices in North America, Europe, Australia, Africa and Asia. For more information, visit www.sunpower.com.
About Sunverge Energy Inc.
Sunverge Energy is a California-based company founded in 2009 with the vision of integrating solar, storage, and smart controls to maximize value for both electricity consumers and providers. That vision led to the creation of the Sunverge Solar Integration System (SIS), a distributed energy storage solution comprising batteries, power electronics, and multiple energy inputs controlled by software running in the cloud. The system lowers costs, ensures energy reliability, helps strengthen the grid, and accelerates the integration of renewable energies and electric vehicles. Sunverge investors include Southern Cross Venture Partners, Siemens Venture Capital, and Total Energy Ventures International. For more information, please visit www.sunverge.com.