/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE
SERVICES/
TORONTO, April 16, 2014 /CNW/ - Crius Energy Trust (TSX:KWH.UN), today
announced the launch by Crius Energy Trust LLC of a new stand alone
solar brand, Citra Solar™, to focus on capturing value in the
fast-growing solar sector and complement the company's
well-differentiated portfolio of energy brands, product offerings and
distribution channels. The new brand allows Crius to leverage its
diversified sales and marketing platform to reach customers through
more of its channels. Initially, Citra Solar™ services will be offered
to customers of Frontier Communications, a strategic marketing partner
of Crius Energy.
The launch of Citra Solar follows on Crius Energy's introduction of
solar services in September 2013 through its network marketing
distribution channel, which saw immediate success and has continued to
expand rapidly. That success points up a nationwide trend: Residential
solar adoption continues to grow across the US, with solar representing
the second-largest type of new energy generation capacity added in
2013, second only to natural gas. Amid this rapid growth, the
introduction of the Citra Solar brand enables Crius to better scale its
solar program and provides it with the flexibility to capture value by
participating across the solar value chain.
"We are confident that this distinctive new addition to the Crius family
of brands will allow us to accomplish three goals: leverage our
existing distribution channels to reach more customers, increase our
total volume of solar capacity sold and increase our margin per solar
customer through a more integrated solar offering," said Michael
Fallquist, CEO of Crius Energy Trust and Crius Energy. "Solar will play
an important role in the generation of power in the decades to come and
we are pleased that our diversified platform will enable more Americans
to realize the benefits of this clean and affordable source of energy."
Citra Solar™ services are initially being offered through the company's
strategic marketing partnership channel. In addition, the company plans
to utilize direct marketing efforts to expand the brand's presence in
its solar markets, which include Arizona, California, Colorado,
Connecticut, DC, Delaware, Hawaii, Maryland, Massachusetts, New York,
New Jersey, Oregon and Texas. In so doing, it offers more homeowners a
simple and easy way to benefit from America's most important energy
trend.
About Citra Solar
Citra Solar will leverage Crius Energy's sales and marketing strengths
and will add value to the customer experience by connecting solar
prospects with a team of solar experts. These highly-trained
representatives act as personal advisors to remove the most common
barriers to solar installation: the guesswork, homework, and legwork
involved in choosing a solar provider. Citra's advisors answer any
questions prospective customers may have, and make recommendations
based on the homeowner's specific needs. More information is available
at www.citrasolar.com.
About Crius Energy Trust
Crius Energy Trust was established to provide investors with a
distribution-producing investment through the acquisition of a 26.8%
ownership interest in Crius Energy. With more than 610,000 residential
customer equivalents, Crius Energy is a comprehensive energy solutions
partner that provides electricity, natural gas and solar products to
residential and commercial customers. Crius Energy connects with energy
customers through an innovative family-of-brands strategy and
multi-channel marketing approach. This unique combination creates
multiple access points to a broad suite of energy products and services
that make it easier for consumers to make informed decisions about
their energy needs. Crius Energy currently sells energy products in 19
states and the District of Columbia with plans to continue expanding
its geographic reach.
Crius Energy Trust intends to qualify as a "mutual fund trust" under the
Income Tax Act (Canada) (the "Tax Act"). The Trust will not be a "SIFT trust" (as
defined in the Tax Act), provided that the Trust complies at all times
with its investment restriction which precludes the Trust from holding
any "non-portfolio property" (as defined in the Tax Act). Material
information pertaining to Crius Energy may be found on www.sedar.com or www.criusenergytrust.ca.
Caution Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the
meaning of applicable Canadian securities laws, including (but not
limited to) statements about the Board's belief that the Bid may
represent a responsible investment of funds on hand. A statement is
forward-looking when it uses what Crius knows and expects today to make
a statement about the future. Forward-looking statements may include
words such as anticipate, assumption, believe, could, expect, goal,
guidance, intend, may, objective, outlook, plan, seek, should, strive,
target and will. These statements relate to future events or future
performance and reflect current assumptions, expectations and estimates
of management regarding growth, results of operations, performance,
business prospects and opportunities, Canadian economic environment and
liability to attract and retain customers. Such forward-looking
statements reflect current assumptions, expectations and estimates of
management and are based on information currently available to Crius as
at the date of this press release.
Forward-looking statements are subject to certain risks and
uncertainties, and should not be read as guarantees of future
performance or results and actual results may differ materially from
the conclusion, forecast or projection stated in such forward-looking
statements. These risks, uncertainties and other factors include but
are not limited to, Crius Energy's objectives and status as a mutual
fund trust and not a SIFT trust, results of operations, financial
position or cash flows, customer revenues and margins, customer
additions and renewals, customer attrition, customer consumption
levels, general and administrative expenses, treatment under
governmental regulatory regimes, distributable cash and Crius Energy's
expectations and estimates regarding the payment of distributions to
unitholders. Such assumptions, expectations, estimates, risks and
uncertainties are discussed under "Risk Factors" and "Forward-Looking
Statements" in Crius Energy Trust's Annual Information Form dated March
26, 2014. Consequently, we cannot guarantee that any forward-looking
statements will materialize. Readers should not place any undue
reliance on such forward-looking statements.
SOURCE Crius Energy Trust
Image with caption: "Citra Solar brand launched by Crius Energy (CNW Group/Crius Energy Trust)". Image available at: http://photos.newswire.ca/images/download/20140416_C4028_PHOTO_EN_39326.jpg
