About Spruce Power
Spruce Power is a company based in Houston (United States) founded in 2012 was acquired by XL Fleet Electrification in September 2022.. The company has 165 employees as of December 31, 2024. Spruce Power operates in a competitive market with competitors including Enel X, Recurrent Energy, Longroad Energy, Origis Energy and Hillman Group, among others.
- Headquarter Houston, United States
- Employees 165 as on 31 Dec, 2024
- Stage Public
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Sectors
Energy & Utilities
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Spruce Power Holding Corporation
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Annual Revenue
$82.61 M2.42as on Dec 31, 2024
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Net Profit
$-70.51 M-12.38as on Dec 31, 2024
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EBITDA
$8.28 M-32.92as on Dec 31, 2024
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Latest Funding Round
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Investors
XL Fleet Electrification
& 1 more
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Employee Count
165
as on Dec 31, 2024
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Acquired by
XL Fleet Electrification
(Sep 12, 2022)
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IPO & Listings of Spruce Power
Spruce Power is a publicly listed company on the NYSE with ticker symbol SPRU in USA, operating in the Utilities sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Funding Insights of Spruce Power
- Total Funding Total Funding
- Total Rounds 1
- Last Round Last Round
- First Round First Round
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2019 | Amount | Seed - Spruce Power | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Spruce Power
Spruce Power has secured backing from 2 investors, including institutional investors. Prominent investors backing the company include XL Fleet Electrification and Climate Investment. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Offers early-stage investments in innovative companies for energy, buildings, and transport decarbonization.
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Founded Year | Domain | Location | |
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Cloud-enabled fleet electrification systems are provided for commercial vehicles.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Spruce Power
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Spruce Power
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Spruce Power Comparisons
Competitors of Spruce Power
Spruce Power operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Enel X, Recurrent Energy, Longroad Energy, Origis Energy and Hillman Group, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Utility-scale renewable energy projects are developed by Enel X.
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| domain | founded_year | HQ Location |
Utility-scale solar projects are developed and owned by Recurrent Energy.
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| domain | founded_year | HQ Location |
Utility-scale wind and solar power projects are developed.
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| domain | founded_year | HQ Location |
Utility-scale and commercial solar projects are developed worldwide.
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| domain | founded_year | HQ Location |
Hardware and home improvement products are supplied to retail markets.
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| domain | founded_year | HQ Location |
Provider of renewable energy asset development, construction, and operation services
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Spruce Power
Frequently Asked Questions about Spruce Power
When was Spruce Power founded?
Spruce Power was founded in 2012 and raised its 1st funding round 7 years after it was founded.
Where is Spruce Power located?
Spruce Power is headquartered in Houston, United States. It is registered at Houston, Texas, United States.
Who is the current CEO of Spruce Power?
Eric Tech is the current CEO of Spruce Power.
How many employees does Spruce Power have?
As of Dec 31, 2024, the latest employee count at Spruce Power is 165.
What is the annual revenue of Spruce Power?
Annual revenue of Spruce Power is $82.61M as on Dec 31, 2024.
What does Spruce Power do?
Spruce Power was founded in 2012 and is headquartered in Houston, United States. Operations focus on the development of solar energy projects within the renewable energy industry. Services include project initiation, financing, and deployment across various scales. Geographic emphasis is placed on the U.S. market, with leadership provided by executives such as Eric Tech and Christian Fong in CEO roles.
Who are the top competitors of Spruce Power?
Spruce Power's top competitors include Enel X, Longroad Energy and Recurrent Energy.
Is Spruce Power publicly traded?
Yes, Spruce Power is publicly traded on NYSE under the ticker symbol SPRU.
Who are Spruce Power's investors?
Spruce Power has 2 investors. Key investors include XL Fleet Electrification, and Climate Investment.
What is Spruce Power's ticker symbol?
The ticker symbol of Spruce Power is SPRU on NYSE.