Spruce Power Welcomes its Newest Leadership Addition: Clean Energy Executive and Entrepreneur, Richard DiMatteo
July 02 2024 - 11:00AM
Business Wire
Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce” or the
“Company”), a leading owner and operator of distributed solar
energy assets across the United States, today announced the
addition of Richard DiMatteo as Senior Vice President, Head of
Spruce Pro. The addition of Rich DiMatteo underscores Spruce’s
strategic commitment to advancing its distributed energy platform
through Spruce Pro, a brand that extends the Company’s servicing
solutions to third-party asset owners.
Rich will direct and oversee all aspects of product innovation,
formation and go-to-market strategy for Spruce Pro, with an
emphasis on leveraging the Company’s existing capabilities and
unique market opportunity to generate high margin organic revenue
and shareholder value through a further productized and scalable
third-party servicing platform.
As the latest addition to Spruce’s leadership team, Rich brings
deep, seasoned expertise in the productization of innovative and
market leading renewable energy services to the Company. Most
recently, Rich was Co-founder and EVP at Highland Electric Fleets,
Inc., a leading provider of fleet electrification-as-a-service
(EaaS) for school districts, governments, and fleet operators in
North America. At Highland, Rich created the first of its kind
customer offering and contract for fleet electrification, enabling
institutional financing, the Transportation Equipment Services
Agreement (TESA). Prior to co-founding Highland, Rich’s career
included Fortune 500 solar PPA origination at Edison Energy,
structured finance at SunEdison, and executive training at GE.
"We are honored to have an innovator and company builder like
Rich DiMatteo join our executive leadership team," said Chris
Hayes, Chief Executive Officer. “His addition reflects Spruce’s
dedication to driving growth and shareholder value through
leveraging the Company’s existing distributed energy servicing
technology to establish new product offerings and customer
segments. As I have said before, Spruce Pro is a huge component of
our organic growth strategy, and I couldn’t be more thrilled to see
us already executing through Rich’s addition.”
For more information regarding Spruce Pro, please visit
https://sprucepower.com/pro/.
About Spruce Power
Spruce Power Holding Corporation (NYSE: SPRU) is a leading owner
and operator of distributed solar energy assets across the United
States. We provide subscription-based services that make it easy
for homeowners to benefit from rooftop solar power and battery
storage. Our power as-a-service model allows consumers to access
new technology without making a significant upfront investment or
incurring maintenance costs. Our company owns the cash flows from
over 75,000 home solar assets and contracts across the United
States. For additional information, please visit
www.sprucepower.com.
Forward Looking Statements
Certain statements in this press release may constitute
“forward-looking statements” within the meaning of the federal
securities laws. Forward-looking statements can be identified by
the use of forward-looking words or phrases such as “anticipate,”
“believe,” “could,” “expect,” “intends,” “may,” “opportunity,”
“plans,” “goals,” “target” “predict,” “potential,” “estimate,”
“should,” “will,” “would,” “continue,” “likely” or the negative of
these terms or other words of similar meaning. These statements are
based upon our current plans and strategies and reflect our current
assessment of the risks and uncertainties. Forward-looking
statements in this release include statements regarding the future
direction of the Company and growth opportunities. These statements
are based on various assumptions, whether or not identified in this
press release and on the current expectations of management, and
are not predictions of actual performance. Forward-looking
statements are subject to a number of risks and uncertainties that
could cause actual results to differ materially from the
forward-looking statements, including but not limited to:
expectations regarding the growth of the solar industry, home
electrification, electric vehicles and distributed energy
resources; the ability to successfully integrate XL Fleet and
Spruce; the ability to identify and complete future acquisitions;
the ability to develop and market new products and services; the
effects of pending and future legislation; the highly competitive
nature of the Company’s business and markets; the ability to
execute on and consummate business plans in anticipated time
frames; litigation, complaints, product liability claims,
government investigations and/or adverse publicity; cost increases
or shortages in the components or chassis necessary to support the
Company’s products and services; the introduction of new
technologies; the impact of natural disasters and other events
beyond our control, such as hurricanes, wildfires or pandemics, on
the Company’s business, results of operations, financial condition,
regulatory compliance and customer experience; privacy and data
protection laws, privacy or data breaches, or the loss of data;
general economic, financial, legal, political and business
conditions and changes in domestic and foreign markets; risks
related to the rollout of the Company’s business and the timing of
expected business milestones; the effects of competition on the
Company’s future business; the availability of capital; and the
other risks discussed under the heading “Risk Factors” in the
Company’s Annual Report on Form 10 K for the year ended December
31, 2023 filed with the SEC on April 9, 2024, subsequent Quarterly
and Annual Reports on Form 10-Q and Form 10-K, respectively, and
other documents that the Company files with the SEC in the future.
If any of these risks materialize or our assumptions prove
incorrect, actual results could differ materially from the results
implied by these forward-looking statements. These forward-looking
statements speak only as of the date hereof and the Company
specifically disclaims any obligation to update these
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20240702801618/en/
For More Information Investor Contact:
investors@sprucepower.com Head of Investor Relations: Bronson
Fleig
Media Contact: publicrelations@sprucepower.com
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