MBL Energy Investment Group Acquires NantEnergy's

SmartStorage® Business Unit

SAN JOSE, Calif.- October 09 2020 - MBL Energy today announced that its investment group has acquired NantEnergy's SmartStorage® business unit, which develops and delivers innovative solar plus storage products and services for the U.S. market. In addition to acquiring the award-winning SmartStorage®intelligent software platform, MBL Energy has also retained key personnel from NantEnergy's SmartStorage®team to form its new business unit.

"Adding NantEnergy's world-class energy storage product to MBL Energy's solar service portfolio is an important step in our mission to expand our offer of clean, reliable solar plus storage solutions for our customers," said Robert Laubach, President of MBL Energy. "The acquisition of NantEnergy's SmartStorage® business and brand not only expands opportunities within our core California market but opportunities throughout the U.S."

Central to the acquisition is the SmartStorage® intelligent energy storage software platform that, when combined with solar, delivers numerous behind-the-meter storage benefits for commercial and industrial (C&I) buildings, including demand management, solar arbitrage, and resilient outage protection. The SmartStorage® business unit was previously rated by Navigant Research as a top 10 distributed-scale energy storage integrator for the U.S. market, and it has an active multi-megawatt project pipeline for solar plus storage installations in California alone.

MBL Energy intends to continue providing the SmartStorage® system offer similar to NantEnergy's past offer, including the Asset Management Service Agreement, which provides routine and unscheduled maintenance coupled with a monthly and annual performance evaluation and reporting. Existing SmartStorage® installations and services will be supported by MBL Energy per its acquisition agreement with NantEnergy. Last year, NantEnergy's C&I customers reduced their energy demand usage by an average of 25 percent with the company's solar and energy storage system, enabling these companies to invest their energy savings into other business priorities, such as innovations in R&D or customer service.

"MBL Energy's new SmartStorage® business unit will continue building on past successes to make energy storage accessible, affordable, and simple for our customers, guaranteeing that performance will be delivered in the process," Robert Laubach said.

About MBL Energy

MBL Energy has been a California multi-license contractor for nearly 20 years with a primary focus on solar, and recently solar plus storage, installations requiring electrical, civil, roofing, and structural licensed trades. MBL has designed and installed over 480 megawatts of solar throughout the United States, including installations of parking canopies, roof mount, DSA, ground mount, specialty projects, and trackers. MBL is dedicated to early technology adoption, uncompromising quality of materials, and maximum efficiency, to bring our customers an energy system that is accurately scoped, soundly designed and installed, and financially viable, in a faster time to project completion. With its in-house design, project management, and construction teams, MBL is meeting market needs now while paving the path for the smart, sustainable and accessible electric grids of the future. Learn more at www.mbl-energy.com

Contact for MBL Energy's SmartStorage® division:
Kirk Stokes
VP Business Development
E-mail: info@mbl-energy.com