The venture's products will give customers a
simpler way to manage their bills,
and allow utility operators to prepare for a multi-service
future
TORONTO, Sept. 17, 2018 /CNW/ - Globalive Technology
(TSX-V: LIVE), a pioneer in emerging decentralized financial
technology, has signed a joint venture (JV) agreement with Sponsor
Energy (Sponsor), a fast-growing, socially-conscious energy
retailer, to help utilities rapidly expand their service portfolio
and offer households an easier way to manage their bills.
GT-Sponsor's multi-service utility commerce management platform
will be a complete reinvention of the traditional utility billing,
payment and customer management system. The new platform will allow
customers to simplify their finances by bundling utility services
such as electricity, natural gas, internet, home phone and more
into a single consolidated bill.
The secure platform will offer superior customer choice and
flexibility by allowing for multiple payment methods and expanded
customer service. It will be designed to integrate with the smart
meters of today and the decentralized household-to-household energy
trade networks of tomorrow.
"We are pleased to be working with a growing company like
Sponsor," said Anthony Lacavera,
Founder and CEO of Globalive Technology. "This joint venture
highlights our team's ability to create compelling commerce
products to enable legacy businesses to prepare for the future and
to generate large-scale revenue opportunities."
"We're excited to partner with Globalive Technology to move the
utility industry forward," said Carolyn
Martin, CEO of Sponsor Energy. "Utilities using our new
product will be able to create stronger, digital-first
relationships with their households — ones befitting today's
subscription economy — while preparing for the future of smart,
distributed energy trade."
The joint venture has established a pipeline of single-line and
multi-line utility service retailers as potential customers of the
platform. Further customer announcements to follow.
Globalive Technology and Sponsor Energy each own 50 percent of
the JV. Globalive Technology will provide oversight of the joint
venture.
About Globalive Technology Inc.
Globalive Technology
is dedicated to building a more equitable future for consumers,
investors, and businesses through decentralized financial
technology. The company forms partnerships with leading high growth
companies to co-develop products that leverage emerging
technologies such as artificial intelligence and blockchain. These
products enable smarter, faster and lower cost payments, financing,
investing, billing and more. Globalive Technology is controlled by
Globalive Capital Inc. which has founded and co-founded 12
businesses over the past 20 years with six successful exits ranging
from $10M to $1.3B USD. It has also made over 100 venture
investments and has over 45 technology companies in its portfolio.
For more information, visit www.globalivetech.com.
About Sponsor Energy
Sponsor is one of the fastest
growing and most socially-conscious retailers in North America. They offer ultra-competitive
pricing on electricity, natural gas, internet services, phone and
cable to residential, small business and commercial clients as well
as energy management for power intensive operations such as
cannabis growing operations and crypto mining operations globally.
Sponsor's unique business model allows customers to "use their
power for good" by turning a grudge purchase into a benefit for the
community. For every kilowatt hour of power or gigajoule of natural
gas used by its customers, Sponsor Energy donates 50% of its
profits to the charity chosen by that customer and has partnered
with charities such as homeless shelters, food banks and animal
welfare organizations to help empower their efforts to change the
world. For more information, please visit
www.sponsorenergy.com.
For media inquiries:
Rob
Moysey
Communications Manager, Globalive
Media@globalivetech.com
For investor inquiries:
Laura
Welsh
Account Manager, Renmark Financial Communications
InvestorRelations@globalivetech.com
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This
news release contains forward-looking statements relating to
Globalive Technology, its joint venture with Sponsor Energy, and
its expectations regarding the joint venture's ability to establish
itself as a reinvention of traditional systems, customers'
acceptance of its products and services, the pipeline of potential
customers, and the joint venture's ability to integrate with other
services. Such forward-looking statements are identified by terms
such as "will give", "will be", "will allow", "will offer",
"potential" and similar expressions. All statements other than
statements of historical fact included in this release, including
those noted above, are forward-looking statements that involve
risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to
differ materially from Globalive Technology's expectations include
customer acceptance of the joint venture's products or services,
competition from other sources that may limit the use of the joint
venture's products or services, the joint venture's ability to
offer the products or services as intended, and other risks as set
out in Globalive Technology's Filing Statement available on its
SEDAR page at www.sedar.com.
The reader is cautioned that assumptions used in the
preparation of any forward-looking information may prove to be
incorrect. Events or circumstances may cause actual results to
differ materially from those predicted, as a result of numerous
known and unknown risks, uncertainties, and other factors, many of
which are beyond the control of Globalive Technology. As a result,
Globalive Technology cannot guarantee that any of the
forward-looking statements contained in this press release will
occur as disclosed herein or at all. The reader is cautioned not to
place undue reliance on any forward-looking information.
Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. The
forward-looking statements contained in this news release are made
as of the date of this news release and Globalive Technology will
only update or revise publicly the included forward-looking
statements as expressly required by Canadian securities
law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Globalive Technology
