Largest Fixed Wireless Broadband Services Provider in U.S. To Offer Integrated Energy Platform Services in Illinois, Indiana and Texas.
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/
TORONTO, March 13, 2017 /CNW/ - Crius Energy Trust (TSX: KWH.UN) ("Crius" or "the Trust") today announced that Crius Energy, LLC ("Crius Energy") has entered into a three-year strategic agreement with Rise Broadband, the largest U.S. fixed wireless internet and digital voice provider, to offer energy products to Rise's customers through the Energy Rewards Integrated Energy Platform jointly developed by Crius and Comcast.
Platform offerings will be initially available to Rise Broadband customers in Illinois, Indiana and Texas with plans to offer the services throughout Rise's 16-state coverage area. Rise currently serves several hundred thousand rural and suburban homes and businesses with an innovative approach to fixed wireless high-speed internet and digital phone technology; offering a competitive choice with quality, affordable and reliable services.
"We are excited to partner with Rise Broadband to offer a turnkey energy solution to their customers," said Michael Fallquist, Chief Executive Officer of the Trust and Crius Energy. "Enabled by our robust Integrated Energy Platform, Rise can quickly reinforce and extend its valuable customer relationships with a proven, bundled energy services solution. We look forward to bringing enhanced value to Rise customers in the coming months, as well as reaching more consumers and platform partners across the nation."
The Integrated Energy Platform leverages assets from both Crius and Comcast, including technology and resources, to provide partner customers with a holistic home energy solution that combines, among other products, electricity, natural gas and solar provided by Crius. As with the company's other exclusive partnerships, Crius will work closely with Rise to seamlessly onboard their customers with the new platform and will directly service and own all future energy customer relationships.
"Our Crius agreement is a natural alliance in delivering additional technologies and services to rural and suburban areas often underserved by traditional wireline carriers or energy companies," said Jack Koo, Rise Broadband's President and Chief Executive Officer. "Adding these capabilities and products to our portfolio gives customers even more ways to close the digital divide."
Rise has been internationally recognized for innovation, technology and business acumen by Red Herring, INC Magazine, PC Magazine and other local, regional and national entities.
About Crius Energy Trust
Crius Energy Trust was established to provide investors with a distribution-producing investment through its ownership interest in Crius Energy, LLC (the "Company"). With approximately a million residential customer equivalents, the Company is a comprehensive energy solutions partner that provides electricity, natural gas and solar products to residential and commercial customers. The Company connects with energy customers through an innovative family-of-brands strategy and multi-channel marketing approach. This unique combination creates multiple access points to a broad suite of energy products and services that make it easier for consumers to make informed decisions about their energy needs. The Company currently sells energy products in 18 states and the District of Columbia with plans to continue expanding its geographic reach.
The Trust intends to continue to qualify as a "mutual fund trust" under the Income Tax Act (Canada) (the "Tax Act"). The Trust will not be a "SIFT trust" (as defined in the Tax Act), provided that the Trust complies at all times with its investment restriction which preclude the Trust from holding any "non-portfolio property" (as defined in the Tax Act). Material information pertaining to the Crius may be found on SEDAR under the Trust's issuer profile at www.sedar.com or on the Trust's website at www.criusenergytrust.ca.
About Rise Broadband
Rise Broadband is the largest fixed wireless internet service provider in the US; offering affordable high-speed broadband (internet and phone) services in 16 states. Established in 2005 as JAB Wireless, Inc., Rise serves residential and business accounts in rural and suburban areas throughout the Midwest, Rocky Mountain and Southwest regions. The company also offers DISH and DIRECTV service as well as PC Care; a one-stop resource for residential tech assistance. Rise is headquartered in Englewood (metro Denver), Colorado and more information can be found at RiseBroadband.com.
Cautionary Statement Regarding Forward-Looking Statements
Forward-looking statements are subject to certain risks and uncertainties, and should not be read as guarantees of future performance or results and actual results may differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include but are not limited to, the ability of the Trust to maintain a distribution on Units, the ability of Crius Energy, LLC to continue completing acquisitions and continue its organic growth strategy, Crius Energy, LLC's results of operations, financial position or cash flows, customer revenues and margins, customer additions and renewals, customer attrition, customer consumption levels, general and administrative expenses, treatment under governmental regulatory regimes, the Trust's objectives and status as a mutual fund trust and not a SIFT trust, the Trust's distributable cash and the Trust's expectations and estimates regarding the payment of distributions to Unit holders. Such assumptions, expectations, estimates, risks and uncertainties are discussed under the headings "Risk Factors" and "Special Notes to Reader – Forward-Looking Statements and Risk Factors" in the Annual Information Form of the Trust dated March 15, 2016, and under the headings "Financial Instruments and Risk Management" and "Forward-Looking Statements" in the Management's Discussion and Analysis of the Trust dated November 10, 2016. Consequently, we cannot guarantee that any forward-looking statements will materialize. Readers should not place any undue reliance on such forward-looking statements.
SOURCE Crius Energy Trust
Crius Energy Trust: Michael Fallquist, Chief Executive Officer, (203) 663-7545; Roop Bhullar, Chief Financial Officer, (203) 883-9900; Kelly Castledine, Investor Relations, (416) 644-1753