NRG Energy, Inc. acquired Goal Zero for an undisclosed sum Aug. 14, marking the utility company’s first acquisition of a consumer products company.
Goal Zero CEO and Founder Robert Workman said being owned by a Fortune 250 company would enhance Goal Zero’s mission of putting reliable power in the hands of every human on earth.
Workman created Goal Zero in 2009 after seeing the lack of basic access to light in developing countries and has since gone on to introduce a wide range of devices that can be used on camping trips or to running essential equipment during or after a natural disaster.
The Salt Lake City-based company has raked in product awards from the outdoor community for devices that enable outdoor enthusiasts to harness solar energy to power the growing array of electronics they bring with them into the backcountry. Gearjunkie.com, for instance, included the company’s Venture 30 weatherized solar charger, which was introduced at Outdoor Retailer Summer Marketplace two weeks ago, to its Best Gear o 2015 list. The Venture 30 can store enough power to recharge a GoPro camera five times or an iPhone up to three times, according to GearJunkie.com.
“Both Goal Zero and NRG have similar give back initiatives,” said Workman. “Both companies have proven track records of helping those in need with services and products. Whether it is lighting a hut in Congo or a school in Haiti, we are focused on improving the lives of every human on this earth.”
While NRG derives most its revenue by selling electricity generated at oil, coal and natural gas-fired power plants to 3 million residential and commercial customers, it recently reorganized into three business units in anticipation that consumers will gain more control over where they source power and how they manage their electrical appliances.
Goal Zero will become part of NRG Home, which has sales of about $6 billion a year. In addition to selling electricity to home owners, NRG Home will install and service residential solar energy systems and electric vehicle charging solutions, including eVgo, the nation’s first privately funded infrastructure for charging electric vehicles.
“The acquisition of Goal Zero enables us to put power in people's hands and deepens the relationship we have with our customers,” said NRG Retail President Elizabeth Killinger.