Otovo, an AI-native home and business energy services company, announced it has entered into a letter of intent to acquire EnergyAid, a residential solar service and repair provider operating across California, Arizona, and Nevada. The transaction values EnergyAid at an enterprise value of approximately $10 million and is expected to be settled through a combination of cash and newly issued Otovo shares.
Founded in 2012 and headquartered in Santa Ana, California, EnergyAid specializes in solar diagnostics, repair, maintenance, and system upgrades. The company has completed service jobs for about 60,000 homes and maintains approximately 8,000 active customers. In 2025, EnergyAid generated roughly $18.7 million in total revenue, representing a 20 percent increase compared with 2024. The company also recently launched a subscription-based service that has grown to around 2,800 members.
The acquisition will significantly expand Otovo’s footprint in the United States, strengthening its service presence in three key solar markets while integrating EnergyAid’s established operations and customer relationships. The deal also follows Otovo’s recent acquisition of Solar Service Professionals, further positioning the company as a major residential solar service provider in California while creating a foundation for expansion in Arizona and Nevada.
Otovo plans to integrate EnergyAid into its growing service platform and convert EnergyAid’s customer base to its subscription service model. The company expects this strategy to contribute positively to net income beginning in 2026.
Otovo delivers integrated home energy solutions that combine electricity supply, maintenance services, and smart grid optimization through a Virtual Power Plant. Its Endurance platform uses artificial intelligence to monitor equipment performance, diagnose system issues, and coordinate field technicians in real time. The platform also provides real-time customer tracking and smart routing technology designed to improve first-visit resolution rates and reduce technician travel time.
The transaction remains subject to definitive agreements, financing conditions, completion of due diligence, and other customary closing conditions.
KEY QUOTES
“This acquisition will represent a major milestone in Otovo’s U.S. expansion, adding immediate scale across three high-growth solar markets while adding substantial value from EnergyAid’s extensive customer relationships. EnergyAid’s established operations provide immediate scale across California, Arizona, and Nevada, while their extensive customer database creates substantial long-term value.”
William J. (John) Berger, CEO Of Otovo
“EnergyAid has always been about solving problems for solar homeowners who had nowhere else to turn. Otovo embodies that customer-first mentality and they’ve built the technology infrastructure to deliver it at massive scale. Together, we’re creating the category leader in residential solar service, a company that can serve customers with the same quality and responsiveness.”
Nick Sherman, CEO And Founder Of EnergyAid
