Otovo, a leading home energy service provider, today announced it has entered into an agreement with Freedom Power to acquire the rights to service the limited warranties of its commercial solar portf...
Autore: Business Wire
Otovo to provide service to Freedom Power’s full fleet of commercial customers
AUSTIN, Texas: Otovo, a leading home energy service provider, today announced it has entered into an agreement with Freedom Power to acquire the rights to service the limited warranties of its commercial solar portfolio, which consists of more than 400 commercial systems, representing approximately 70 MW of capacity. The acquisition marks Otovo's strategic entry into the commercial solar and storage market.
Additionally, Otovo will have the opportunity to provide repair and maintenance services to Freedom Power’s commercial portfolio and its residential customers in Colorado.
Freedom Power is a commercial and residential power solutions company that provides heating and cooling, battery backup, solar power, and generator solutions for homes in the states of Texas and Florida, and businesses around the country.
“Otovo is expanding into the commercial solar repair industry as we continue to grow our footprint and service offering,” said William J. (John) Berger, CEO of Otovo. “This is our fourth announced acquisition in the past few months, in addition to several smaller customer book transactions, and continues our steady march to grow Otovo into the leading global home and commercial energy service provider. The commercial market is an ideal fit for Otovo’s AI-native Endurance™ platform because it provides a high-quality rapid-response service, which is exactly what commercial customers demand to keep their business up and running.”
“This agreement with Otovo gives our customers access to best-in-class operations and maintenance, ensuring their systems are serviced with long-term performance in mind,” said Bret Biggart, CEO of Freedom Power. “With Freedom Power continuing to install commercial solar projects and Otovo providing a dedicated, responsive service offering, our customers can be confident in the reliability of their solar assets.”
Otovo’s AI-native Endurance™ platform can triage issues and route the right crew in real time, connecting technicians, trucks, and installed devices into a single responsive network. The live tracking function closes the loop with customers, while optimized routing raises first‑time‑fix rates while cutting travel.
Otovo anticipates this transaction to be accretive to its net income in 2026. The agreement is subject to standard closing conditions, including completion of due diligence and no material adverse changes.
About Otovo
Otovo is an AI-Native home and business energy services company in Europe and the United States. We combine real-time equipment monitoring, rapid repairs, dependable power supply, and grid participation into a single, seamless service–delivering maximum service at a minimal cost. Endurance, Otovo’s industry-leading AI platform, continually monitors installed equipment in homes and businesses, optimizes the entire service process from problem detection to resolution, and coordinates repairs around the clock. “Your Power, Backed by Ours.” Otovo is listed on the Euronext Oslo Stock Exchange under the ticker OTOVO. Visit us at https://otovo.ai/.
The above includes forward-looking statements including goals, projections, targets, and plans based on current expectations and assumptions. Actual results may differ materially due to risks and uncertainties, including those described below. We do not undertake to update forward-looking statements except as required by law. This is not an offer to sell securities.
Execution risks include: the ability to hit sales, margin, and deployment timelines; dependency on third-party installers/OEMs and data providers; variability in customer acquisition cost and payback; working-capital and financing availability; regulatory and compliance changes (telemarketing/TCPA, privacy, and state consumer rules); concentration of customers and partners; technology and data security incidents; and general economic conditions that affect demand and pricing.
Fonte: Business Wire