Retail Supplier Receives Approval For Name Change To Via Renewables, Reflecting New Strategic Initiatives, Further Discusses ESG Focus
August 9, 2021 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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Spark Energy, Inc. ("Spark" or the "Company") announced that its shareholders approved a proposal by the Company's Board of Directors to change the name of the Company to Via Renewables, Inc.
As first reported by EnergyChoiceMatters.com, Via Renewables has announced an ESG-focused strategy, as the company further stated, "Our plan to bring further diversified offerings and solutions to a broader customer base includes a three-pronged approach: Create, Reduce, Recover"
Under "Create", the company said, "Our primary goal is to develop, either in-house or via acquisitions, renewable generation assets that directly support our customers’ shifting energy preferences. These sources include solar, wind, hydro, and/or biomass generation."
With respect to "Reduce", Via Renewables said that it aims to lower overall customer usage, focusing on the ability to utilize load shedding technologies, and distributed generation and storage.
With respect to "Recover", the company said, "The fundamental component of renewable generation is reduction in carbon-based emissions. In parallel to generation, we’ll explore emission and material reduction initiatives and services to complement our core energy supply and offset emissions from any non-renewable supply."
"We are very optimistic about the additional opportunities presented by the new Via Renewables platform," said Keith Maxwell, Chairman and Chief Executive Officer. "Our leadership team and I are excited about pursuing opportunities to provide innovative solutions to a broader, eco-minded customer base and further diversify our offerings, while vertically integrating and streamlining our organization. We believe the Via Renewables name best represents this direction, along with the value that we plan to deliver now and in the future."
As previously reported, Via Renewables now completely offsets its customers’ and employees’ energy use by purchasing Renewable Energy Credits (RECs) on their behalf.
The ticker symbols and CUSIP numbers for the Company's Class A common stock and 8.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock (the "Preferred Stock") will change. At the beginning of trading on August 10, 2021, the Company's Class A common stock is expected to begin trading on the NASDAQ Global Select Market under the ticker "VIA" and the CUSIP number will change to 92556D 106, and the Company's Preferred Stock is expected to begin trading on the NASDAQ Global Select Market under the ticker "VIASP" and the CUSIP number will change to 92556D 205.