Company Overview - Complete Solar, Inc. has acquired selected assets of Core Energy, a solar EPC firm, and hired its 37 employees, including CEO Cole Farmer, who will oversee Sales and Marketing for the combined company [1][5] - The acquisition will result in a modest increase in Complete Solar's headcount from 106 to 113 due to tight cost management and merit-based retention [1] Financial Performance - Cole Farmer previously grew Core Energy's revenue to 22 million due to a downturn caused by changes to California's Net Energy Metering (NEM 3.0), which reduced payments for home solar power delivered to the grid by 75% [5] Strategic Goals - Complete Solar aims to leverage Cole Farmer's sales and marketing expertise to accelerate growth and increase installation rates in California, the largest solar market in the U.S. [6] - The company offers a unique end-to-end customer service model that includes financing, project fulfillment, and customer service, facilitated by a digital platform and premium solar products [6] Employee Engagement - All new Core Energy employees have received public company stock options, promoting a company-oriented culture similar to that of Silicon Valley, which emphasizes wealth sharing with employees [9]
Complete Solar Acquires Core Energy