Closing our Renew Home transaction

SIP is pleased to share that our transaction to create Renew Home — SIP’s newest platform company, which combines OhmConnect with Google Nest’s Renew energy services business — has closed, following the receipt of all required regulatory approvals. Today, Renew Home is the largest virtual power plant (VPP) in the US, and we believe the company will play a critical role in both stabilizing and decarbonizing the country’s electrical grid by accelerating the scale and development of the VPP industry.

We expect all customers currently on the OhmConnect and Google Nest Renew platforms to have a seamless experience as we transition them to Renew Home. We look forward to sharing more updates on the company’s product and partners soon, as we start advancing its mission of supporting the clean energy transition while unlocking energy savings for all.