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GreenMountain Teams Up With BP Amoco, Lycos

GreenMountain Teams Up With BP Amoco, Lycos

"Clean" energy retail marketer GreenMountain.com cleaned house last week, attracting a $100 million investment from BP Amoco and others, striking a marketing and energy supply alliance with BP Amoco and forming a marketing arrangement with Web powerhouse Lycos.

"This investment, along with the online marketing agreement with Lycos, is a major step forward for GreenMountain.com," said GreenMountain.com CEO Dennis Kelly. "By making these significant commitments, BP Amoco, Lycos and the others have recognized the tremendous U.S. market opportunity for selling cleaner and renewable energy to both households and business customers. BP Amoco is a global leader in the development of solar energy and a key leader within the energy community in addressing global warming.."

In addition to the investment in GreenMountain, BP Amoco signed a multifaceted supply and marketing agreement with the company. They agreed to enter into strategic supply arrangements for electricity and natural gas. BP Amoco will provide GreenMountain with wholesale supply services, and GreenMountain will market its cleaner electricity products to BP Amoco service stations. BP Amoco also will supply GreenMountain with risk management products and technical assistance. The two companies will cooperate on leveraging each other's e-business and Web presence. BP Amoco also will market and promote GreenMountain's solar energy offerings using BP Solarex's solar technology, products and services. And it will market the GreenMountain Energy(SM) brand of cleaner and renewable electricity under a multi-year licensing agreement to large business customers.

"We are greatly extending product availability and market presence by including large industrial customers and offering them a distinctive green choice to meet their energy needs," said BP Amoco's Anne Quinn, group vice president of gas and power business in the Americas. "They will be able to buy greener, cleaner energy close to the same cost as electricity fueled by other sources, thereby increasing the demand for renewable and environmentally responsible power - while enhancing their green credentials. We believe this can serve as a model for marketing cleaner energy in other, international markets."

BP Amoco is the global solar electricity volume leader in sales of components and systems as well as the leading natural gas producer in North America. It is also a leading trader in wholesale markets for natural gas together with power.

BP Solarex CEO Harry Shimp said green electricity is a "big potential market in the U.S. GreenMountain is a leading developer of green energy and we are very pleased to have this connection to what we believe will be a significant growth market segment for solar energy."

The Lycos deal gives GreenMountain marketing access to one of the Internet's leading multi-brand networks. Lycos has agreed to provide online marketing venues to GreenMountain.com, enabling the energy company to deliver its unique message to geographically targeted Lycos users. Lycos will launch an energy center within its real estate channel where GreenMountain.com will become the exclusive provider of cleaner energy content. Under the terms of the agreement, GreenMountain.com will pay Lycos in cash and stock for online contextual integration across the Lycos Network.

Formed in 1997, GreenMountain serves more than 100,000 households in California, Pennsylvania and New Jersey. It sells electricity generated by renewable sources --- solar, wind, water or geothermal --- as well as natural gas. It plans to expand rapidly as full energy deregulation spreads across America and demand for green and clean power grows.

Rocco Canonica

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ISSN © 2577-9877 | ISSN © 1532-1266
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