Vivint Smart Home, Inc. (NYSE: VVNT), a leading smart home company, today announced that it has entered into a strategic partnership with Freedom Forever, one of the country’s fastest growing residential solar system installers. The relationship between the two companies will help homeowners get a step closer to living in a smart home that generates as much energy as it uses.
Starting now, Freedom Forever customers will have a Vivint smart home system professionally installed as the first step in the solar installation process, and Vivint customers will have an immediate opportunity to add clean energy production to their homes through Freedom Forever. Vivint is currently developing an integration that will allow the Vivint system to tell the homeowner through its panel interface and app how much energy the panels are producing and how much energy the home is consuming. When used in conjunction with other energy-saving features like the Vivint Smart Thermostat, the companies believe homeowners will be better enabled to make smarter decisions about their energy usage.
“Joining forces with Freedom Forever broadens our offering and provides value to customers who are worried about the environment and skyrocketing energy costs,” said David Bywater, CEO of Vivint. Bywater was previously the CEO of Vivint Solar (acquired by Sunrun), which is the exclusive provider of solar power purchase agreements for both Vivint and Freedom Forever. “This partnership gives me great confidence that we can deliver our customers a truly integrated smart home and energy offering.”
“We are excited about combining two premier services through this partnership with Vivint,” said Brett Bouchy, CEO of Freedom Forever. “Smart Energy is a significant value add that will help customers realize savings sooner and empower them to take control of the environment in and around their home.”
Vivint adding solar to its product offering comes at a time when the company has set its sights on deepening its relationship with homeowners. The company believes that providing a clean energy option as part of its suite will give consumers confidence their homes are not only secure, but also energy efficient—an ever-increasing concern for homeowners as many regions battle extreme summer temperatures.
Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, including but not limited to statements concerning the abilities and expected benefits of the anticipated integration of Vivint’s smart home system with Freedom Forever’s solar offering, including, but not limited to, Vivint’s ability to monitor energy production and consumption within its customers’ homes. Generally, statements that are not historical facts, including statements concerning the Company’s possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates” or “intends” or similar expressions. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements should not be read as a guarantee of future performance or results, and they will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. These statements are based on current expectations and assumptions regarding future events and business performance as of the date of this press release, and they are subject to risks and uncertainties, including those discussed in Part I, Item 1A. “Risk Factors” in the Company’s Amendment No. 1 to its Annual Report on Form 10-K/A for the year ended December 31, 2020, filed with the Securities and Exchange Commission (the “SEC”) on May 12, 2021 (the “Form 10-K/A”), as such factors may be updated from time to time in the Company’s periodic filings with the SEC, that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Although Vivint Smart Home believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in those statements will be achieved or will occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements. Except as required by law, Vivint Smart Home does not undertake and expressly disclaims any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. You should read the documents Vivint Smart Home has filed with the SEC, including the Form 10-K/A and the Company’s other periodic filings, for more complete information about the Vivint Smart Home. These documents are available on both the EDGAR section of the SEC’s website at www.sec.gov and the Investor Relations section of Vivint’s website at www.vivint.com
About Vivint Smart Home
Vivint Smart Home is a leading smart home company in North America. Vivint delivers an integrated smart home system with in-home consultation, professional installation and support delivered by its Smart Home Pros, as well as 24/7 customer care and monitoring. Dedicated to redefining the home experience with intelligent products and services, Vivint serves more than 1.7 million customers throughout the U.S. and Canada. For more information, visit www.vivint.com.
About Freedom Forever
Freedom Forever and its family of companies focuses on residential solar installations that deliver best-in-class Engineering, Procurement, and Construction for its dealer network. Since 2011, Freedom Forever has enabled its dealer network to succeed with a premium offering and aggressive pricing flexibility. Freedom Forever’s 25-year production guarantee provides the ultimate peace-of-mind for homeowners reluctant to make a big investment when purchasing their solar systems. With Freedom Forever, homeowners know what they’re getting every time. For more information, please visit https://freedomforever.com.