Inspire and Shell Energy North America Enter Multi-Year Strategic Relationship
SANTA MONICA, Calif., Feb. 14, 2018 /PRNewswire/ -- Inspire, a consumer technology company focused on enabling everyone to have a smart home powered by clean energy, announced today that it has entered into a multi-year strategic relationship with Shell Energy North America. Under the arrangement, Shell will provide Inspire with a broad range of services to support the company's aggressive expansion plans over the next several years, including a credit line for trading and a revolving credit facility. Shell's support will facilitate Inspire's purchase of clean energy products and accelerate membership growth, with capacity for over one million members. The new arrangement comes on the heels of Shell's recent commitment to increase its development of new energies, spending up to $2 billion a year until 2020.
"Our core mission is to build the world's most consumer-focused clean power platform," said Patrick Maloney, founder and CEO of Inspire. "We have rapidly grown with this mission in mind, with the goal of inspiring as many people as we can to power their homes with clean energy. Our planet needs it, our future generations depend on it, and this strategic arrangement with Shell will help us get there faster."
According to climate researchers, humans are causing the climate to change 170 times faster than natural forces. Yet, in a national survey, nearly nine in ten Americans (87%) say renewable energy is important to the country's future, with more than half intending to buy more smart, energy efficient products in 2018. By simplifying consumer adoption of both clean energy and smart home technologies, Inspire is driving progress towards a brighter energy future.
Inspire's flagship product is a personalized, monthly subscription that includes an integrated smart home experience, energy management services, and 100% clean energy, with no upfront costs. Through the Inspire mobile app, members can track energy use, control their smart home devices, and gain intelligent insights into their homes' performance. Because the cleanest form of energy is the kind people don't use, Inspire's new Rewards Program is designed to unlock rewards within the app and pay members when they use less. Inspire's proprietary technology platform analyzes and scrutinizes complex energy data. Combined with information about consumers and their homes, each Smart Energy subscription plan is intelligently designed for each individual member.
"We are excited to be working with Inspire to help achieve our common goal of creating a more sustainable energy future," commented Glenn Wright, President of Shell Energy North America.
About Inspire
Launched in 2014, Inspire's mission is to create a brighter energy future by simplifying consumer adoption of clean energy and smart home technologies. Disrupting the one-size-fits-all utility model, Inspire's groundbreaking Smart Energy subscription seamlessly combines personalized clean energy plans with best-in-class smart devices. Using Inspire's app, members control their smart homes from anywhere and select automated settings to use less energy while earning rewards. Inspire is dedicated to making it easy for everyone to have a smart, sustainable home. A Certified B-Corp, Inspire is nationally recognized for its commitment to making a positive impact on the planet. It was featured in Fast Company and Mashable, and chosen as one of Fortune's 50 Best Small Workplaces in 2017. Inspire products are available in select areas across the U.S. via helloinspire.com. The company is privately held, with offices in Santa Monica, CA and Philadelphia, PA.
About Shell Energy North America
Houston-based Shell Energy North America (US), L.P., a wholly owned, indirect subsidiary of Royal Dutch Shell plc (Shell), serves its customers through its regional offices located throughout North America. As an integral part of the Shell Trading network of companies, Shell Energy North America (US), L.P. is the primary marketer of Shell's equity natural gas in North America. As a leader in gas and power marketing, Shell Energy North America (US), L.P. and its subsidiaries, trade and market natural gas, wholesale power, environmental products and risk management products with counterparties and customers throughout the region. More information is available online at http://www.shell.com/about-us/who-we-are.html.
Media Contact
Denise Schenasi, Communications Manager
press@helloinspire.com | 310.318.4560
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SOURCE Inspire
