NRG Energy, Inc. and Goal Zero, a specialist in providing personal solar products, have reached an agreement that brings the rapidly growing consumer products company into the NRG family of companies.
The acquisition aligns with NRG’s mission to lead the market in offering cleaner, smarter choices and sustainable lifestyle solutions to end use energy consumers across the country.
NRG Energy believes that the Goal Zero products embody premium design and quality with features that surprise and excite customers. The company currently markets a suite of portable solar power and battery pack products and accessories and has strong research and development capabilities. The company is headquartered in Salt Lake City, Utah (US) and employs approximately 100 people.
Goal Zero was originally conceived to solve humanitarian challenges, focused on aid to the Congo and the compelling need for a fossil fuel free source of reliable electricity in sub-Saharan Africa. Products developed by Goal Zero for this humanitarian application quickly won wide acceptance in the outdoor and adventure sports community.
Through this acquisition, NRG adds the third leg to its NRG Home end use energy consumer strategy built around harnessing the reciprocal synergies and cross-selling opportunities between system power, residential solar and personal power. Each part of the strategy supports the other through shared access to multiple distribution channels and customer bases. NRG expects to combine product and service offerings; for example, educating Goal Zero customers about the possibilities of rooftop solar and combining portable Goal Zero solar products with NRG’s retail electricity offers.
Financial terms of the transaction were not disclosed. The transaction is subject to customary closing conditions, including regulatory clearances, and is expect to be finalized in the third quarter.