Just Energy Group Acquires Stake in Ecobee

Just Energy Group Inc. announced this morning that it had acquired a 15% fully diluted interest in ecobee Inc.

ecobee is a Toronto, Ontario based company that designs, manufactures and distributes smart thermostats to residential and commercial customers throughout North America.

Just Energy also has the option to increase its interest in ecobee until February 9, 2013.

Ken Hartwick, Just Energy's President and CEO, said that Just Energy will begin to deploy the thermostats, "in all of our core markets linking them to our commodity and home services sales thereby extending the customer relationship with Just Energy."

"ecobee's technology will enable Just Energy to broaden the relationship with its customers beyond managing the price of the commodity to helping customers use their energy more economically and effectively," Hartwick said.

As previously reported, Just Energy has launched an offering with the ecobee smart thermostat under the Just Eco Savings brand.