Combination will Supercharge Constellation, Improve Clean Energy Awareness, and Offer Wonderful Customer Experiences
CHICAGO, IL and LIBERTYVILLE, IL – APRIL 16, 2012 – Umbrelly Inc. and The Exelon Corporation (NYSE: EXC) today announced that they have entered into a definitive agreement under which Umbrelly will become the primary driving force behind the sales and marketing efforts of Exelon's Constellation brand. The transaction was unanimously approved by the boards of directors of both companies.
The partnership with Exelon, a dedicated clean energy partner, will enable Umbrelly to supercharge the clean and renewable energy awareness in the mid-west. Umbrelly will remain a licensee of Exelon and Constellation. Umbrelly will run Constellation as one of its Direct Sales sub brands.
Mark Hillard, CEO of Umbrelly, said, “Exelon’s total commitment to clean and renewable energy has created a natural fit for our two companies. Together, we will create amazing customer experiences that supercharge awareness of clean energy for the benefit of consumers, partners and the planet! I look forward to welcoming Exeloneans to our family of Umbrellians.”
Calvin Butler, Senior VP at Exelon, said, “This transaction offers significant value for Exelons’s stockholders and provides compelling new opportunities for our employees, customers, and partners around the world. We have shared a productive partnership with Umbrelly to advance the Constellation brand, and now through this combination we will be able to do even more to innovate and deliver outstanding clean energy solutions across our commercial and residential markets.”
Christopher Hillard, Senior Vice President of Operations at Umbrelly, said, “We expect that this combination will enable us to break new ground for the clean energy ecosystem. However, our vision for Exelon is unchanged and Umbrelly remains firmly committed to Exelon as a major player in the renewable energy community. We will continue to work with all of our valued Direct Sales & Marketing partners to develop and distribute innovative products and services.”
