The Chron Organization
CHRON Acquires Leading Texas-Based Retail Electric Provider: Enertrade Electric LLC
The Chron Organization, Inc. (OTC: CHRO) is pleased to announce that it has finalized terms and executed all binding closing documents in the acquisition of Enertrade Electric, LLC (Texas based Retail Electric Provider). CHRON has set up a wholly owned subsidiary, Zen Energy, Inc. (Zen) for such purposes and intends to use this entity to expand its retail energy operations across the country.
The transaction closed after hours this past Friday and is now only subject to pending regulatory approval from the Public Utility Commission of Texas ("PUCT"). The Company foresees no hurdles in garnering said approval, given the routine nature of such process and the qualifications that CHRON's management team has in place. CHRON is eager and excited to make a substantial and positive contribution to the competitive retail energy sector in Texas.
With this acquisition, Zen has gained all of the licensing and supplier agreements needed to conduct business in the REP space meaning Zen will be able to sell electricity to its customers alongside its Smart Home technologies. This is a critical step forward for Zen in expanding its outreach to new customers and achieving its long-term goal of providing Smart and Energy Efficient Homes to the masses.
"We will be the first Smart Home retailer that not only controls the lights, thermostats and other home appliances, but also the meter from which these devices are running," stated Alex Rodriguez, CHRON President and Zen CEO. "This is monumental and the opportunities for innovation are endless," he went on to say.
With the management team's extensive knowledge of the deregulated Energy industry, the Company aims to become a home automation leader nationwide that can also provide energy-efficient electrical plans to its customers.
Chron Chairman Byron Young added, "Zen Home Services will now be able to merge home automation with green energy services, bringing us one step closer to our goal of being a one-stop shop for all of a Customer's Smart Home needs."
ABOUT THE CHRON ORGANIZATION, INC.
The Chron Organization, Inc. (OTC: CHRO), is an entrepreneurial-minded company founded and envisioned by Mr. Byron Young and Mr. Alex Rodriguez. The Company's purpose is to develop a portfolio of highly successful and unique wholly owned businesses by providing incubation, advisory and capital services to the same. CHRON's interests include the smart home services, Internet of Things (IOT) platforms, deregulated energy & energy efficiency offerings. To learn more about CHRON, visit the company's corporate website at www.chronorganization.com.
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the company's current expectations and are subject to a number of risks, uncertainties and assumptions. The company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the company's filings at www.OTCMarkets.com