Jan 14, 2022
Branch Energy, a technology-focused green energy provider, and ENGIE Energy Marketing, NA, Inc (“ENGIE Energy Marketing”), a subsidiary of ENGIE S.A. (“ENGIE”), today announced a $40M strategic non-dilutive wholesale power supply facility. The agreement will provide Branch Energy with access to U.S. wholesale energy markets and working capital, as well as the ability to leverage ENGIE Energy Marketing’s extensive renewable energy platform.
Branch Energy both sells electricity with an easy-to-use platform and leverages data and artificial intelligence (AI) to determine which smart devices will help reduce a consumer’s energy bill the most and help to coordinate the installation and financing of the devices. This combination of green energy and energy-monitoring smart devices not only saves consumers money but also reduces their carbon footprint.
“ENGIE has one of the fastest-growing portfolios of renewable generation assets in North America which makes it the perfect partner to help us grow,” said Daniel MacDonald, Branch Energy President. “We are thrilled with the far-reaching impact this will allow Branch to have.”
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Earlier this year, Branch Energy launched its first market in Texas. The new facility will enable the company to accelerate its growth in the state and to expand into markets across North America.
“ENGIE has made some of the most aggressive commitments in the industry to cutting carbon emissions and expanding renewable generation,” said Ken Robinson, ENGIE Energy Marketing President. “Partnering with retailers who have committed to 100% carbon-free power is directly aligned with these commitments, and we are delighted to be partnering with Branch Energy.”