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

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

December 15, 2014

Growth Capital and Commercial Agreement to Further Personalize Energy Services 

SAN JOSE, Calif., and BOULDER, Colo., December 15, 2014 – 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.