SunPower Invests $20 Million in Tendril to Bring Smart Energy Solutions to Market

Growth Capital and Commercial Agreement to Further Personalize Energy Services

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Dec 15, 2014, 08:00 ET

SAN JOSE, Calif. and BOULDER, Colo., Dec. 15, 2014 /PRNewswire/ -- SunPower Corp. (NASDAQ: SPWR) and Tendril, Inc. today announced that SunPower has invested $20 million of growth capital into Tendril and will license its Energy Services Management (ESM) Platform software. Enhanced by SunPower's vast amount of solar related data, the ESM Platform will power the development of new Smart Energy applications for a broader set of consumers and utilities.

Combining the unique functionality of the Tendril ESM Platform with SunPower's knowledge of the solar industry will ensure all energy providers can effectively meet consumer demand for personalized energy services. This approach includes enhancing insight, choice and control of energy for customers, as well as improving the marketing of solar solutions through direct to consumer and utility channels.

"Consumers want even more flexibility to tailor their energy supply and usage to fit their lifestyles, beliefs and financial goals," said Tom Werner, SunPower president and CEO. "We know that in order to deliver customized offers and choices to customers, we have to first understand individual consumer needs."

"We've spent the past decade developing the only flexible enterprise-class software platform that can deliver an accurate understanding of the energy consumer on an individual basis," said Adrian Tuck, Tendril CEO. "Our partnership with SunPower will extend that understanding to include solar, increase engagement and value to energy consumers, and allow SunPower and our utility partners to better serve their customer base with even more personalized programs and services."

About SunPower Corp.
SunPower Corp. (NASDAQ: SPWR) designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today. Residential, business, government and utility customers rely on the company's quarter century of experience and guaranteed performance to provide maximum return on investment throughout the life of the solar system. Headquartered in San Jose, Calif., SunPower has offices in North America, Europe, Australia, Africa and Asia. For more information, visit www.sunpower.com.

About Tendril
Tendril is defining data-driven Energy Services Management (ESM) for the evolving energy market. Our open, cloud-based software platform provides the infrastructure, analytics and understanding required to deliver personalized energy services. This targeted approach drives new business opportunities, delights consumers and has led to some of the industry's highest engagement and satisfaction rates. For more information, please visit http://www.tendrilinc.com or follow us on Twitter at @Tendril.

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SOURCE SunPower Corp.