September 22, 2014 12:59 AM ET

Semiconductors and Semiconductor Equipment

Company Overview of Sungevity, Inc.

Company Overview

Sungevity, Inc. designs and installs solar energy panels for homeowners in the United States, the Netherlands, and Australia. The company was incorporated in 2006 and is based in Oakland, California.

66 Franklin Street

Suite 310

Oakland, CA 94607

United States

Founded in 2006

Phone:

510-496-5500

Fax:

510-496-5501

Key Executives for Sungevity, Inc.

Co-Founder
Co-Founder and Senior Vice President
Chief Financial Officer
Age: 61
Chief Development Officer
Age: 47
Chief Technology Officer
Compensation as of Fiscal Year 2014.

Sungevity, Inc. Key Developments

Sungevity, Inc. Debuts Instant Solar Quoting Technology

Sungevity, Inc. announced the first technology capable of generating residential solar installation quotes instantly based on nothing more than a street address. The company's new Instant Solar Quote (Instant iQuote) tool is being piloted at select Lowe's stores in California. Sungevity has been Lowe's exclusive solar partner serving the U.S. residential solar market since 2011. Both Instant iQuote and Sungevity's earlier-generation iQuote technology eliminate the need for time-consuming and capital-intensive home visits to design and price residential solar installations. The new instant quote ability speeds the process of closing individual solar sales by providing an immediate proposal without the previous 24-hour wait. It can also be used to rapidly assess the solar potential of entire cities, counties and countries for retailers, utilities and other partners. The new quoting platform utilizes proprietary technology that combines LIDAR, aerial imagery and real estate parcel data to produce a 3D model of the property at a given address. Hundreds of design variations may be generated for that address, based on factors such as roof pitch and shading. Instant iQuote immediately provides the consumer with the most optimal solar configurations, installation cost, and estimated savings. Results can be modified on the spot based on customers' design preferences, actual energy usage and other variables.

Sungevity May Seek IPO

Sungevity, Inc. may consider an initial public offering after competitor SolarCity sold shares that rose more than four-fold in the first year of trading.

Sungevity, Sunrun to Work Together to Reach 10,000 New Customers

Sunrun and Sungevity have formed an alliance to sign up at least 10,000 new residential customers through 2016. Both companies offer solar panels to homeowners for little or no money down, with customers paying month by month. Under the new agreement, Oakland's Sungevity will recruit customers, while Sunrun, based in San Francisco, will provide financing and own the arrays. The companies hope to install enough solar arrays to generate 70 megawatts of electricity. The deal is not exclusive. Sungevity will continue to work with other financing partners, while Sunrun will pursue customers through alternative channels. Both companies cast the deal as playing to their core talents. Known for customer service and acquisition, Sungevity was the first solar company to offer price quotes online within 24 hours.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
June 4, 2014
Sungevity Netherlands
Private Placement
March 21, 2014
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