Friday 30 July 2021

Shell buys Inspire Energy in net zero carbon push

Shell has bought US clean energy company Inspire Energy to accelerate its mission of achieving a net zero carbon future.

Inspire will become a wholly-owned subsidiary of Shell New Energies and will operate under its existing brand within Shell's Renewables & Energy Solutions integrated power business.

Elisabeth Brinton, Executive Vice President of Renewables & Energy Solutions at Shell said: “Our goal is to become a major provider of renewable and low carbon energy and this acquisition moves us a step closer to achieving that.

“This deal instantly expands our business-to-consumer power offerings in key regions in the US and we are well-positioned to build on Inspire's advanced digital capabilities to allow more households to benefit from renewable and low carbon energy.”

As part of Shell, Inspire intends to rapidly scale its offering of access to sustainable energy to households in the US.

Patrick Maloney, Founder & CEO of Inspire added: “We look forward to joining Shell's talented team to achieve our energy transition goals together.

“We share the belief that renewable energy should be accessible to everyone and Shell's resources, reach and ownership of many aspects of the energy value chain will help us scale and advance our mission.”