31 Oct Update from the Space City – REP Acquisition
Just wanted to drop a quick update to you all regarding our known plans to acquire the Texas-based Retail Electric Provider, Enertrade Electric, LLC. In case you missed that press release, please click here. Along with a small team, I spent the greater part of last week in Houston conducting our initial due diligence.
Thus far, everything is going smoothly and there doesn’t seem to be any unanticipated hurdles. However, the most complicated piece will be transferring the wholesale purchasing agreement and/or our need to find a new strategic wholesale supplier. This is in alignment with our expectations and we are prepared to move in the best direction for CHRON depending on what our findings reveal.
This acquisition will allow us to offer electricity service in the Texas deregulated energy market. Experts estimate that this market is the 9th or 10th largest electricity market in the world, competing with Spain, so this presents a great growth opportunity for us.
Moreover, while this is my signature area of expertise and I have a longstanding history of great success in the deregulated energy industry, our plan for Zen Home Services will be one of a kind. Our business model is to offer demand response solutions, time of use billing plans, and renewable energy options that fit perfectly alongside our Zen Smart Home platform.
Keep in mind that as a Smart Home services provider, we can control all major energy consuming appliances in a home – and as a REP, we now control the electricity meter, too. We believe that this combination creates the next generation in utility or essential services being offered to the home, in a sustainable and responsible manner.
Thus far, this has been a smooth process. Please keep your fingers crossed, say your prayers, wear your lucky socks, etc., and let’s hope that it stays this way so that we can make rapid progress and get the ball across the goal line in a very timely manner.
Finally, I would like you all to know that there is more to come… so I kindly urge you to please stay tuned.
Zen Visionary; Smart Homes for the Masses… that’s the New Zen