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Smart Home, Automation Provider Acquires Texas Retail Electric Provider, Will Expand Nationwide, Integrate Automation, Green Energy Offerings

January 25, 2017

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Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

The Chron Organization, Inc. (CHRON) said in a news release today it has finalized terms and executed all binding closing documents in the acquisition of Enertrade Electric, LLC, a Texas-based Retail Electric Provider doing business as Shyne Energy.

CHRON's intent to acquire Enertrade had been first reported by EnergyChoiceMatters.com (see story here)

CHRON said that it has set up a wholly owned subsidiary, Zen Energy, Inc. (Zen) for such purposes and intends to use this entity to expand its retail energy operations across the country.

As previously reported, Chron's and Zen Home Services' leadership includes several Texas retail market veterans, including Stream co-founder Alex Rodriguez and Byron Young, co-founder of Payless Power

CHRON said that the transaction closed after hours this past Friday and is now only subject to pending regulatory approval from the Public Utility Commission of Texas ("PUCT"). The Company foresees no hurdles in garnering said approval, given the routine nature of such process and the qualifications that CHRON's management team has in place.

"With this acquisition, Zen has gained all of the licensing and supplier agreements needed to conduct business in the REP space meaning Zen will be able to sell electricity to its customers alongside its Smart Home technologies. This is a critical step forward for Zen in expanding its outreach to new customers and achieving its long-term goal of providing Smart and Energy Efficient Homes to the masses," CHRON said

"We will be the first Smart Home retailer that not only controls the lights, thermostats and other home appliances, but also the meter from which these devices are running," stated Alex Rodriguez, CHRON President and Zen CEO. "This is monumental and the opportunities for innovation are endless," he went on to say.

"With the management team's extensive knowledge of the deregulated Energy industry, the Company aims to become a home automation leader nationwide that can also provide energy-efficient electrical plans to its customers," CHRON said

CHRON Chairman Byron Young added, "Zen Home Services will now be able to merge home automation with green energy services, bringing us one step closer to our goal of being a one-stop shop for all of a Customer's Smart Home needs."

The Chron Organization, Inc. was founded by Byron Young and Alex Rodriguez and the company's interests include smart home services, Internet of Things (IOT) platforms, deregulated energy, and energy efficiency offerings.

Zen Home Services, Inc. provides homeowners with the latest in security, monitoring and automation controls as well as green energy services

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