Under the arrangement, Shell will provide Inspire with a broad range of services to support the company's aggressive expansion plans over the next several years, including a credit line for trading and a revolving credit facility.
Shell's support will facilitate Inspire's purchase of clean energy products and accelerate membership growth, with capacity for over one million members. The new arrangement comes on the heels of Shell's recent commitment to increase its development of new energies, spending up to $2bn a year until 2020.
Inspire founder and CEO Patrick Maloney said: "Our core mission is to build the world's most consumer-focused clean power platform.
"We have rapidly grown with this mission in mind, with the goal of inspiring as many people as we can to power their homes with clean energy. Our planet needs it, our future generations depend on it, and this strategic arrangement with Shell will help us get there faster."
According to climate researchers, humans are causing the climate to change 170 times faster than natural forces. Yet, in a national survey, nearly nine in ten Americans (87%) say renewable energy is important to the country's future, with more than half intending to buy more smart, energy efficient products in 2018.
By simplifying consumer adoption of both clean energy and smart home technologies, Inspire is driving progress towards a brighter energy future.
Inspire's flagship product is a personalized, monthly subscription that includes an integrated smart home experience, energy management services, and 100% clean energy, with no upfront costs. Through the Inspire mobile app, members can track energy use, control their smart home devices, and gain intelligent insights into their homes' performance.
Because the cleanest form of energy is the kind people don't use, Inspire's new Rewards Program is designed to unlock rewards within the app and pay members when they use less. Inspire's proprietary technology platform analyzes and scrutinizes complex energy data. Combined with information about consumers and their homes, each Smart Energy subscription plan is intelligently designed for each individual member.
Shell Energy North America president Glenn Wright said: "We are excited to be working with Inspire to help achieve our common goal of creating a more sustainable energy future."
