DENVER — RGS Energy Inc. (Nasdaq: RGSE), which earlier this year moved its headquarters from Louisville to Denver, has signed a licensing deal for a solar-shingle system developed by The Dow Chemical Co.
RGS signed a deal to license Dow’s Powerhouse solar-shingle system, which has been deployed on more than 1,000 homes. RGS will lead all commercial activities for the product, including supply-chain management, marketing, sales, installation and warranty.
While owning a building seems like something every successful business should do, that’s not always the case. For many companies, it makes more sense to continue leasing space, freeing up time and capital that can be better utilized in other ways.
The news sent RGS’ stock soaring, from 82 cents per share to a closing of $2.37, Oct. 4.
Powerhouse 3.0 solar shingles was designed to blend in with asphalt roofs and includes a low profile, making the solar array less conspicuous compared with traditional solar panels.
“This enhanced … system comes at an opportune time,” Dennis Lacey, CEO of RGS Energy, said in a prepared statement. “At an increasing rate, goals and targets are being set for renewable energy. Some localities are mandating solar for new build homes. Customers also increasingly want their solar installations to be an aesthetic and technical improvement integrated with a home renovation, rather than a hefty module that is bolted onto their rooftop.”
RGS said it would expand its call center and digital marketing program to aggressively market the product.
RGS moved its headquarters from Louisville to 110 16th St. in Denver at the end of January.