DALLAS, TX, Oct. 01, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE - Zenergy Brands, Inc. (OTCQB: ZNGY), the nation's leading next-generation utility, announced today that it has finalized the name change of its newly-acquired Texas-based Retail Electric Provider from Enertrade Electric, LLC DBA Shyne Energy to Zenergy Power & Gas, Inc. with the Public Utility Commission of Texas (PUCT).
The Company first announced this strategic acquisition in April 2018 after a full year of negotiations working to execute the transaction. The name change comes just months later and is merely the first step in Zenergy’s long-term mission to converge the sectors of smart home controls/building automation systems, energy conservation/efficiency services, and retail electricity and natural gas under the Company’s “virtual utility” brand.
“With a licensed REP under our belt, we believe that we are more poised than ever to become the premier provider of smart controls, on-site energy storage, and retail energy services for both residential and commercial customers,” said Mr. Alex Rodriguez, Zenergy President & CEO. “Our newfound ability to cross-sell and up-sell our smart home controls and systems with our retail energy products and services allows for a whole new avenue of marketing possibilities.”
The Company plans to combine its retail energy and smart home products & services into its offering to residential customers by integrating its controls capabilities with a variety of smart energy products, including the control and automation of lights, locks and thermostats in residential customers’ homes that would enable them to manage and reduce their monthly utility consumption more responsibly.
“I am excited about the rollout of our REP because I am convinced that this convergence of our retail energy services and our smart home controls into one offering gives us a strategic advantage in the industry,” said Zenergy’s Senior Vice President of Operations, Mr. Chris Crabtree, who spearheads the Company’s Retail Energy Division. “In my almost two decades in the industry, building and managing REP operations, this is by far the most impressive value proposition I have encountered.”
The Texas deregulated electricity market encompasses over six million residential meters and nearly two million commercial meters. Zenergy’s strategy as a retail energy provider is to create a beachhead in Texas and then expand to other deregulated markets across the nation. The Company believes that, the Texas market provides a mature and open retail framework as well as flexible wholesale framework, thus creating the opportunity for innovative energy programs such as Zenergy’s to come into fruition. These anticipated services include, but are not limited to, time of use service offerings, conservation program service offerings, micro-grid technology service offerings, and demand response-programs en masse.
Mr. Rodriguez added, “With our flagship service offering, the Zero Cost Program already making significant strides in the marketplace, we will now be able to create an even greater value proposition for customers by having retail energy services as an integral part of our overall offering. We remain steadfast in putting all the pieces together and creating a distinguished offering.”
ABOUT ZENERGY BRANDS, INC.
Zenergy Brands, Inc. (Ticker: ZNGY), is a next-generation energy and technology company operating in the emerging smart energy/utility industry. The Company provides energy conservation, smart controls, and efficiency-based products and services as a fully integrated energy company. Zenergy is a public company, fully reporting to the SEC and currently trading on the OTCPK, a venture market designed for early-stage and developing U.S. and international companies. To learn more, visit www.zenergybrands.com or www.whatiszenergy.com, and follow the Company on the following social networks:
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FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to some risks, uncertainties, and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the critical factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCmarkets.com.