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Energy storage company Ice Energy and Verde Energy USA Holdings LLC, a leading retail energy provider, announced on October 3 that they had formed a strategic business alliance that also gives Ice a minority equity investment in Verde.
The agreement is expected to bolster the individual skills of each company, and also give customers more options for choosing the best electricity rates. Customers will be able to buy the lowest-cost electricity from the cleanest energy sources that will in turn improve overall grid reliability and efficiency.
"We are excited about the opportunity to work with Verde Energy USA," said Ice Energy CEO Dave Prezioso. "Together, we will be able to further expand both the knowledge and resources required to enable smarter energy consumption."
Prezioso added the new alliance, "illustrates Ice Energy's continued company growth and its support of wiser energy consumption, more affordable electric rates, and positive environmental impact."
Verde Energy can offer the best electricity rates by operating in states like its native Connecticut, where energy deregulation laws have been implemented and allow residents to shop around for the best electricity rate.