Houston, TX – Nov 04, 2022 – XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a provider of subscription-based services that make it easy for homeowners and small businesses to own and maintain rooftop solar and battery storage, today announced that it will change its corporate name to Spruce Power Holding Corporation, effective November 14, 2022. The Company will be known as Spruce Power. Additionally, the Company will change its NYSE ticker symbol from “XL” to “SPRU” at the open of market trading on Monday, November 14, 2022.
“We are excited to execute on the next stage of our new corporate strategy with the official change of our company name,” said Eric Tech, current Chief Executive Officer of XL Fleet. “Renaming our company to Spruce Power reflects our new focus on the residential solar and energy services market. Most importantly, it positions us to build upon the strong brand recognition that Spruce has earned in the residential solar market since 2018.”
“Transitioning the Spruce Power name to our new public platform is an exciting achievement for our company,” added Christian Fong, President of Spruce Power. “Our new platform affords us the resources needed to elevate our company’s mission to a next level, and this change is only the beginning.” It is expected that Mr. Fong will be named CEO of the combined companies in the first quarter of 2023.
