Crius Energy Extends Solar Offering Through Frontier Communications Strategic Partnership
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES
TORONTO, March 20, 2014 /CNW/ - Crius Energy Trust ("Crius Energy" or the "Trust") (TSX: KWH.UN), announced today that Crius Energy LLC and Frontier Communications (NASDAQ-FTR) have expanded their strategic partnership to offer solar power to residential customers. Crius Energy, under the brand name FTR Energy Services, currently offers green electricity and/or natural gas to residents in Frontier service areas in New York, Ohio, Illinois and Indiana. The companies plan to leverage the partnership to offer solar power in markets such as California, Arizona, Colorado, Oregon, New York and Washington. Upon approval of Frontier's acquisition of AT&T wireline, broadband and U-verse operations, Connecticut residents will also have the opportunity to purchase solar power.
"This is a natural extension of the partnership between Crius Energy and Frontier Communications," said Michael Fallquist, CEO of Crius Energy. "Offering solar power in Frontier territories strengthens an already successful relationship and expands the service offerings and geographic reach of Crius Energy. As the solar industry continues to grow, Crius is well-positioned to provide tremendous value to customers and strategic partners."
The companies plan to offer solar products and services to Frontier customers and prospective customers in California beginning in April. In addition to being an important telecommunications market for Frontier and the headquarters of its West Region, California is the largest market for solar energy products and services in the United States.
"We're excited to offer green energy from a leader in solar power," said Ann Burr, President, New Product Trials and Integration for Frontier Communications. "Solar is a great energy option that Californians and others are embracing at a rapid pace. Frontier is pleased to help consumers enjoy the benefits and easier access to solar while advancing the quest for energy independence. We look forward to the expansion of our partnership with Crius Energy".
About Frontier Communications
Frontier Communications Corporation (NASDAQ: FTR) offers broadband, voice, satellite video, wireless Internet data access, data security solutions, bundled offerings, specialized bundles for residential customers, small businesses and home offices and advanced communications for medium and large businesses in 27 states. Frontier's approximately 13,650 employees are 100 percent U.S.-based. More information is available at www.frontier.com.
About Crius Energy Trust
Crius Energy Trust has been established to provide investors with a distribution-producing investment through the acquisition of a 26.8% ownership interest in Crius Energy. With more than 610,000 residential customer equivalents, Crius Energy is a comprehensive energy solutions partner that provides electricity, natural gas and solar products to residential and commercial customers. Crius Energy connects with energy customers through an innovative family-of-brands strategy and multi-channel marketing approach. This unique combination creates multiple access points to a broad suite of energy products and services that make it easier for consumers to make informed decisions about their energy needs. Crius Energy currently sells energy products in 19 states and the District of Columbia with plans to continue expanding its geographic reach. More information is available at www.criusenergytrust.ca.
The Trust intends to qualify as a "mutual fund trust" under the Income Tax Act (Canada) (the "Tax Act"). The Trust will not be a "SIFT trust" (as defined in the Tax Act), provided that the Trust complies at all times with its investment restriction which precludes the Trust from holding any "non-portfolio property" (as defined in the Tax Act). Material information pertaining to the Trust may be found on www.sedar.com or www.criusenergytrust.ca.
This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Crius Energy, including, without limitation, those listed under "Risk Factors" and "Forward-Looking Statements" in the Trust's Annual Information Form dated March 28, 2013 (collectively, "forward-looking information"). Forward-looking information in this news release includes, but is not limited to, the Trust's objectives and status as a mutual fund trust and not a SIFT trust and the results of operations of the Company. Crius Energy cautions investors of Crius Energy's securities about important factors that could cause Crius Energy's actual results to differ materially from those projected in any forward-looking statements included in this news release. Any statements that express, or involve discussions as to expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that the expectations set out in this news release will prove to be correct and accordingly, prospective investors should not place undue reliance on these forward-looking statements. These statements speak only as of the date of this news release and Crius Energy does not assume any obligation to update or revise them to reflect new events or circumstances.
SOURCE Crius Energy TrustFor further information:
(416) 815-0700 ext. 290