Gen110 Announces Kleiner Perkins Caufield & Byers Investment
Kleiner Perkins backs distributed energy company as a new breed of electricity
provider
San Francisco, Calif., May 16, 2012 –Gen110, the leading distributed energy company,
today announced it has received investment funds and business development support
from Kleiner Perkins Caufield & Byers (KPCB), widely regarded as the leading investor in
the field of energy technology.
“Gen110 represents a new breed of distributed energy provider that stays laser-focused
on building long-lasting relationships with consumers—and helping them save money,”
said Dan Oros, investment partner at Kleiner Perkins. “The company’s unique model
moves with the market to provide the best available power generation technology and
financing available through strategic partnerships. We’re particularly impressed by
Gen110’s strong leadership team, and their ability to quickly build traction in a
notoriously competitive market.”
The Gen110 approach is simple: qualified homeowners pay for the energy they produce,
saving on energy costs through a fixed rate agreement and protecting themselves from
utility rate hikes. Maintenance and insurance of power generating equipment is taken
care of, making it a cost effective solution that delivers more power for less.
“Our customers get affordable, reliable electricity rates without purchasing a power
generation system,” said Jason Brown, CEO of Gen110. “We parse voluminous data on
energy usage to identify homeowners who stand to save the most from distributed
electricity. These are fresh markets for the industry in many ways, since the legacy
players have focused on ‘green’ audiences. We focus on reaching people to whom we
can make a clear-cut economic case—and it’s working.”
With 11 offices throughout California, Gen110’s dedicated sales team brings affordable
power generation solutions to thousands of homeowners.
About Gen110
Gen110 is the leading distributed energy company providing a cost-effective, alternative
way for heavy energy users to purchase residential power. Gen110 has helped more
than 2,000 homeowners in California avoid utility rate hikes by producing approximately
13 gigawatt hours of electricity annually at their own homes. A private company based
in San Francisco, Gen110 was founded in 2009 to free customers from total dependence
on traditional utility companies. To learn more, visit gen110.com. You can also follow us
on Facebook (facebook.com/Gen110) and Twitter (twitter.com/gen_110).
About Kleiner Perkins Caufield & Byers
Since its founding in 1972, Kleiner Perkins Caufield & Byers has backed entrepreneurs in
more than 500 ventures including AOL, Amazon.com, Citrix, Compaq, Electronic Arts,
Genentech, Genomic Health, Google, Intuit, Juniper Networks, Netscape, Sun,
Symantec, Verisign, webMD and Zynga. KPCB portfolio companies employ more than
350,000 people worldwide. More than 150 of the firm’s portfolio companies have gone
public, and many other KPCB ventures have achieved success through mergers and
acquisitions. KPCB focuses its global investments in three practice areas - digital,
greentech and life sciences - and provides entrepreneurs with company-building
expertise out of its offices in Silicon Valley, Beijing and Shanghai.
Media Contact:
Antenna Group for Gen110
Beth Ross
415-977-1950
gen110@antennagroup.com