Shell New Energies US (Shell), a subsidiary of Royal Dutch Shell, has signed an agreement to buy 100% of the equity interests of Inspire Energy Capital (Inspire), a renewable energy residential retailer with joint headquarters in Santa Monica, CA and Philadelphia, PA, USA.
This acquisition advances Shell's Powering Progress strategy to build and scale renewable and low-carbon businesses with a target to become a net-zero emissions energy business by 2050, in step with society. Inspire offers renewable energy to customers via a variety of services and subscription plans and incentivises customers to manage energy usage via a rewards program within its mobile app. The acquisition accelerates Shell's digital ambitions in the power sector by utilizing data-driven, digitally enabled platforms to simplify customers' decarbonisation journeys.