Spruce Power Announces Expansion of Operating Headquarters in Houston, Texas

Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce” or the “Company”), a leading owner and operator of distributed solar energy assets across the United States, today announced a successful expansion of its operating headquarters in Houston, Texas.

Spruce’s operating headquarters in Houston is home to the business functions that support its goal of ensuring an industry leading customer experience. Beginning in 2019, the Company has organically built a residential energy services solution platform for the distributed generation (DG) solar sector, utilizing access to a deep pool of experienced energy professionals in Houston. Technology, Asset Operations, Customer Support, and Billings and Collections teams provide seamless support services to Spruce and third-party customers.

Following growth in Spruce’s home solar assets and contracts of about 50% over the past year, representing 25,000 rooftops, the Company is pleased to announce a sizable expansion of its Houston office footprint to over 40,000 square feet. The Company expects the expanded Houston footprint will support its current team of 150 DG professionals, as well as accommodate the planned addition of 20 employees as part of its overall corporate goal of reaching 90,000 customers and rooftop solar contracts in the coming year.

Christian Fong, CEO of Spruce, commented, “This announcement comes on the heels of our corporate headquarters’ relocation in Denver, with both expansions the execution of a value-creating move from California to our long-term work homes. Houston is our largest employment base, and being able to add high-paying jobs to our Houston location underpins our commitment to the community and continued growth in Texas.”

The newly expanded office is located at Two Memorial City Plaza at 820 Gessner Road in Houston. With this expansion, Spruce is now one of the largest tenants in the Memorial City Plaza office complex.

About Spruce Power

Spruce Power Holding Corporation (NYSE: SPRU) is a leading owner and operator of distributed solar energy assets across the United States. We provide subscription-based services that make it easy for homeowners to benefit from rooftop solar power and battery storage. Our power as-a-service model allows consumers to access new technology without making a significant upfront investment or incurring maintenance costs. Our company owns the cash flows from over 75,000 home solar assets and contracts across the United States. For additional information, please visit www.sprucepower.com.