Retail Supplier Announces Preferred Wholesale Supplier Agreement, Follows Recent Acquisition Close
December 13, 2022 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
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Energywell, LLC ("Energywell") formally announced the previously reported completion of its acquisition of ENGIE Retail, LLC d/b/a Think Energy ("Think Energy"), plus the signing of a Preferred Supplier Agreement with ENGIE Energy Marketing North America, Inc. ("ENGIE Energy Marketing").
Concurrent with the acquisition of Think Energy, Energywell entered into a Preferred Supplier Agreement with ENGIE Energy Marketing to purchase wholesale energy supply to support Think Energy's customer growth plans.
"Completing the acquisition is an important milestone for our business as we can immediately begin to deploy our proprietary technology platform and sales channels across the many utility markets served by Think Energy," said Michael Fallquist, Director & Co-Chief Executive Officer of Energywell. "The deployment of our proprietary technology outside of Texas will allow us to provide customers with innovative and valuable products that are not available in the market today."
Roop Bhullar, Chief Financial Officer of Energywell, said of the supplier agreement, "The scalable 3-year facility provides us with the financial flexibility to execute on our growth strategy."
Think Energy is a mid-sized mass market focused energy retailer with licenses to operate in 13 states and the District of Columbia covering sixty-four electric and natural gas utilities.