Complete Solar Merges with Solaria, Forming Complete Solaria, an Industry Leading Solar Company

Complete Solar and Solaria today announced the completion of their previously announced merger, forming Complete Solaria, Inc. (“Complete Solaria” or the “Company”). This strategic merger brings together two highly complementary businesses to form a vertically integrated business model, delivering end-to-end residential solar solutions.

“We are thrilled to announce the completion of the merger between Complete Solar and Solaria. This merger redefines residential solar with breakthrough technology, services, and operational excellence, to empower sales and installation partners to scale up and increase the adoption of residential solar,” said Will Anderson, who will lead the Company as Chief Executive Officer. “Our customers and partners can expect the same high level of attention we have always provided and more. Complete Solaria’s combined assets and vertically integrated business model are positioned to deliver a unique end-to-end experience for homeowners, offering premium, beautiful solar products, best-in-class technology, access to financing, and superior project fulfilment and service.”

Tony Alvarez, the Company’s President added, “I’m extremely excited about what the combination of Complete Solar and Solaria will be able to achieve. Solaria’s dealers and distributors will benefit from access to Complete Solar’s sales partners and digital platform, and Complete Solar’s partners will benefit from the ability to offer the industry’s leading premium solar panel. We couldn’t be happier to join with Complete Solar and make progress toward our shared vision of a clean energy future.”

Creating a New Standard for the Adoption of Solar

The combination of these two companies establishes Complete Solaria as a full system operator, with a compelling customer offering with best-in-class technology, financing, and project fulfilment, that will enable the Company to sell more product across more geographies in the United States and Europe.

Organic growth is projected to be strong, as Complete Solaria’s asset-light model, secure supply network, and additional macro tailwinds from the Inflation Reduction Act (the “IRA”) support the Company’s strong investment and value creation profile. This coupled with rebates, tax credits, electric vehicle promotions, and other initiatives outlined in the IRA lay the foundation for significant solar adoption in the U.S., furthering Complete Solaria’s expected growth initiatives and expansion opportunities.