PORT WASHINGTON, Wis, Feb. 05, 2024 (GLOBE NEWSWIRE) -- Franklin Energy, a leading provider of energy efficiency and grid optimization solutions and products, announced today the successful acquisition of Snugg Home, a leading software-as-a-service energy efficiency adoption company best known for their Snugg Pro energy audit tool.

Adding Snugg Pro to the NGAGE end-to-end technology platform empowers Franklin Energy to maximize support for state energy offices, who are receiving more than $4.275 billion from the Home Electrification and Appliance Rebates (HEAR) and $4.3 billion from the HOMES rebate program as part of the 2022 Inflation Reduction Act (IRA). Snugg Pro is the market's preferred IRA-compliant tool when qualifying households for deep energy-saving improvements and accurately modeling savings. Snugg Pro is actively used in over 60 utility programs and will continue to help utilities, contractors, and the full energy ecosystem as more programs evolve from driving simpler energy-saving measures such as lighting to more modern electrification and decarbonization technologies, including heat pumps.

“This acquisition immediately allows us to provide even stronger support to state energy offices and utilities seeking to leverage the potential of IRA programs,” said Terry Sobolewski, Franklin Energy CEO. “Snugg Pro is designed to assist state energy offices as they help constituents experience meaningful utility bill savings. With this well-respected technology tool, we further enhance our capabilities, cultivating them into resources that can be fully leveraged by the entire ecosystem of energy solution providers.”

Snugg Pro is BPI 2400-compliant, a requirement for all modeled home assessments conducted within the IRA HOMES rebate program. Used by over 2,000 companies in all 50 states, Snugg Pro is utilized by utilities, contractors, and third-party program implementers. The tool’s capabilities include:

• User-friendly interface for collecting all the home characteristics needed for a comprehensive home energy assessment
• Rapid calculation of a complex, utility bill-calibrated, home energy savings model and household retrofit project proposal
• Intuitive integration for utility data acquisition, IRA-utility rebate stacking, and the US Department of Energy’s API for rebate reservations

Based in Boulder, Colorado, Snugg Home has spent more than 13 years focusing on the user experience, simplifying the entire home energy upgrade process. Snugg Pro delivers a user-friendly interface designed to convert audits to upgrades.

“Demand for Snugg Pro is expected to grow alongside the IRA Home Rebate Programs being administered by state energy offices,” said Adam Stenftenagel, Snugg Home CEO. “Franklin Energy's scale brings the necessary resources to the team so that we can fully service the needs of utility programs and state energy offices in the residential energy transition. We are excited to take the next step of our growth journey together.”

"Our NGAGE technology platform is the foundation of our tailored solutions. Adding Snugg Pro as a SaaS offering integrated within our ecosystem of services allows us to provide a simplified user experience,” said Sushma Annareddy, Franklin Energy Chief Technology Officer. “Our delivery model will continue evolving with market needs, backed by customer-first transformative technology—while creating high-quality energy jobs and transforming the home energy efficiency marketplace."

In joining forces with Snugg Home and integrating Snugg Pro into their technology platform, Franklin Energy solidifies its commitment to providing comprehensive solutions for state energy offices, utility clients, program implementers, contractors, and constituents across the energy ecosystem, advancing the evolution of electrification and decarbonization measures in the ever-changing landscape of clean energy.

About Franklin Energy

Franklin Energy delivers end-to-end sustainable energy management solutions through a portfolio of intelligent products and services that lowers costs, reduces carbon waste, and grows stronger communities and local economies. Franklin Energy is committed to achieving net-zero carbon emissions by 2025, protecting our communities and planet while building a brighter, more sustainable future.

Kristi Longballa
Franklin Energy
775-204-5860
klongballa@franklinenergy.com