Shell New Energies has agreed to take on Inspire, a U.S.-based, technology-enabled clean energy company, as its wholly owned subsidiary.
Following the deal, Inspire is planning to rapidly scale its offering of access to sustainable energy to U.S. households, using Shell’s resources, reach and ownership of many aspects of the energy value chain.
“Our goal is to become a major provider of renewable and low-carbon energy, and this acquisition moves us a step closer to achieving that,” said Elisabeth Brinton, executive vice president of renewables and energy solutions at Shell. “This deal instantly expands our business-to-consumer power offerings in key regions in the U.S., and we are well positioned to build on Inspire's advanced digital capabilities to allow more households to benefit from renewable and low-carbon energy.”
The deal is expected to reach completion by fourth quarter 2021.
