Energy giant Shell announced today the acquisition of residential-focused renewable energy retailer Inspire Energy Capital, augmenting its position as a green energy power supplier to US residential customers.
Founded in 2014, Inspire enables residential customers to access clean energy, matching energy use with Renewable Energy Certificates (RECs) from wind farm projects throughout the US. Inspire offers flat-monthly price subscription plans and a variety of innovative services, including incentives for customers to manage energy usage via a rewards program within its mobile app. Inspire’s services are available in states including Delaware, Illinois, Massachusetts, Maryland, New Jersey, New York, Ohio, Pennsylvania, California, and Washington DC.
Patrick Maloney, Founder & CEO of Inspire, said:
“We look forward to joining Shell’s talented team to achieve our energy transition goals together. We share the belief that renewable energy should be accessible to everyone and Shell’s resources, reach and ownership of many aspects of the energy value chain will help us scale and advance our mission.
According to Shell, the acquisition will help advance the company’s energy transition strategy to transform into a net zero emissions energy business by 2050, while also accelerating its ambitions for digitizing the power sector through data-driven platforms to support customers’ decarbonization goals.
Elisabeth Brinton, Executive Vice President of Renewables & Energy Solutions at Shell, said:
“Our goal is to become a major provider of renewable and low-carbon energy, and this acquisition moves us a step closer to achieving that. This deal instantly expands our business-to-consumer power offerings in key regions in the U.S., and we are well-positioned to build on Inspire’s advanced digital capabilities to allow more households to benefit from renewable and low-carbon energy.”