Spruce Power Announces Company-Wide AI Transformation Initiative

Initiative focused on reducing costs, improving customer experience, and accelerating growth

HOUSTON--(BUSINESS WIRE)--Spruce Power Holding Corporation (NYSE: SPRU) ("Spruce" or the "Company"), a leading owner and operator of distributed solar energy assets, today announced the launch of a company-wide Artificial Intelligence initiative designed to enhance customer experience, improve operating efficiency, and support long-term growth.

As part of the initiative, Spruce has engaged a leading strategic advisory firm to advise the company on its comprehensive review of operations and identify opportunities to deploy AI across customer service, asset management, sales, finance, and other core business functions.

The company believes AI presents a significant opportunity to streamline workflows, automate routine processes, reduce operating costs, and allow employees to focus on higher-value activities that drive revenue growth and customer satisfaction.

"AI has the potential to unlock new levels of efficiency and service for our customers," said Chris Hayes, Chief Executive Officer of Spruce Power. "We are taking a disciplined, company-wide approach to identify opportunities that can lower costs, improve service levels, increase productivity, and position Spruce for scalable, profitable growth."

The review is expected to generate a roadmap for AI deployment across the organization, with implementation initiatives anticipated over the coming quarters.

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 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 approximately 84,000 home solar assets and contracts across the United States and also services approximately 140,000 home solar systems across the U.S. For additional information, please visit www.sprucepower.com.

Forward Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and rules promulgated thereunder. Forward-looking statements generally are characterized by the use of certain words or phrases (and their derivatives) such as “believe,” “continue,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “goals,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements in this release include statements, including statements made by Chris Hayes, regarding the Company’s initiatives and future opportunities with respect to artificial intelligence and the expected benefits with respect to this initiative and future similar initiatives. These statements are based on our current plans and strategies, as well as various assumptions, whether or not identified in this press release, and on the current expectations of management, all of which management believes are reasonable as of the date of this report, and reflect our current assessment of the risks and uncertainties related to the Company’s business and are made as of the date of this press release. Although we believe that our expectations with respect to forward-looking statements are based upon reasonable assumptions within the bounds of our existing knowledge about the Company’s business and operations, there can be no assurance that actual future results, performance or achievements of, or trends affecting, us will not differ materially from any future results, performance, achievements or trends expressed or implied by such forward-looking statements.