Holaluz acquires Bulb Energy Spain

• The more electricity prices rise, the more The Rooftop Revolution gains in value.

In response to rising world energy prices caused by the crisis in the existing energy and environmental model, The Rooftop Revolution offers Holaluz customers the possibility of transforming every square metre of their rooftop into 100 percent green energy, saving up to 50 percent on electricity bills. The Rooftop Revolution disrupts the current generation-consumption energy model by converting each square metre of rooftop into distributed generation and creating a large community of domestic energy clients and producers of green energy in Spain.

• As a result of the current context of price volatility in the market, last November the company confirmed a capital increase of 11,368,106.96 euros with the aim of initiating a sector consolidation plan based on the acquisition of trading firms in Spain. Bulb Spain is the first of these.
• The acquisition of Bulb Energy means Holaluz not only grows its client list. It also signifies that the green energy company will expand alongside a strategic partner that has the same purpose and goals for the future. Both Holaluz and Bulb Energy want to accelerate change in energy models for the benefit of the planet and society as a whole.

Barcelona, December 24, 2021: Holaluz, the green energy technology company listed on BME Growth since November 2019, today announced the acquisition of the renewable energy company Bulb Energy Spain. This will allow for the connection of 23,000 new customers to Holaluz’s sustainable energy and accelerate the journey towards a world that is powered by 100 percent green power. During this transition, all customers’ energy supply will continue to operate as normal.

For Holaluz this is a unique opportunity to begin the acquisition of trading companies in Spain through its sector consolidation strategy. Bulb is the start of a process that needs financial agility to be completed. Therefore Holaluz confirmed on November 9 by majority approval at the Extraordinary Shareholders’ Meeting a capital increase for the amount of 11,368,106.96 euros.

As announced last October, in the present context of electricity market volatility and a damaged energy and environmental model, there is currently a global imbalance in the energy sector. Holaluz has a competitive advantage in this situation. It has an opportunity to strengthen its position in the market with a solid business model that incorporates the clear purpose of offering a long-term, sustainable energy solution for society and the planet.

Bulb Energy is digitally focused, and it also belongs to the BCorp community, as does Holaluz. This plus the fact that the company offers 100 percent green energy to its residential customers makes the operation a well-suited move that will let Holaluz take one step further in the execution of its strategy.

The Rooftop Revolution has no limits

Holaluz has 378,202 clients as of September 30 and a representation portfolio of more than 1,630 MW. This represents growth of more than 27,000 net clients in the third quarter of 2021. The Rooftop Revolution continues to grow, reaching 6,295 managed facilities as of September 30, 2021.