Spruce Power Signs Multi-Year Multimillion Dollar Agreement to Sell Renewable Energy Credits in New Jersey
Spruce Power's SREC Agreement: Spruce Power Holding Corporation has entered a multi-year agreement to sell Solar Renewable Energy Credits (SRECs) in New Jersey, expected to generate around $10 million in revenue through 2029, enhancing their cash flow and asset value.
Future Opportunities: The CEO highlighted the potential for similar SREC opportunities in northeastern states and California, emphasizing Spruce's expertise in maximizing asset value while providing services for third-party solar asset owners.
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Spruce Power Expands Cost-Effective Service Model to California
- Cost Reduction: Spruce Power has successfully reduced operating and maintenance costs by approximately 25% through its in-house service teams in New Jersey, establishing a strong foundation for expansion into California.
- Efficiency Improvement: The New Jersey team has enhanced scheduling and inventory management, resulting in shorter repair cycles and improved system availability, which directly boosts asset value and revenue potential.
- Market Expansion: Spruce plans to replicate this successful service model in California, initially covering the area from San Diego to Los Angeles, with plans to scale operations as they mature over time.
- Strategic Advantage: By vertically integrating its services, Spruce not only enhances its own capabilities but also creates opportunities to service third-party assets, further leveraging its fixed-cost operational infrastructure.
Spruce Power Declines 2% Following Appointment of Thomas Cimino as Permanent CFO
Company Update: Spruce Power Holding Corporation (SPRU) has appointed Thomas Cimino as its permanent Chief Financial Officer, transitioning from his previous role as interim CFO.
Stock Performance: Following the announcement of Cimino's permanent appointment, SPRU shares fell by 2.17%, trading at $5.18.
Cimino's Responsibilities: In his new role, Cimino will continue to oversee finance, accounting, capital markets, and strategic initiatives for the company.
Disclaimer: The views expressed in the article are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.
Spruce Power Holding Names Thomas Cimino as Chief Financial Officer
New CFO Appointment: Spruce Power Holding Corp. has appointed Thomas Cimino as Chief Financial Officer, effective immediately, after serving as interim CFO since June 2025.
Cimino's Background: Thomas Cimino has held significant financial roles in various companies, including CFO positions at Vantage Drilling International and AEI Services, and was Executive Vice President of Finance and Administration at EnfraGen.
Current Stock Performance: Spruce's stock is currently trading at $5.22, reflecting a decrease of 1.51 percent on the New York Stock Exchange.
Disclaimer: The views expressed in the article are those of the author and do not necessarily represent the opinions of Nasdaq, Inc.
Spruce Power Appoints Thomas Cimino as CFO, Enhancing Financial Leadership
- Leadership Appointment: Spruce Power has officially appointed Thomas Cimino as Chief Financial Officer, effective December 3, 2025, marking a commitment to stability and continuity in financial management.
- Experienced Leader: With over 25 years of financial leadership experience, including roles as CFO at Vantage Drilling and AEI Services, Cimino brings extensive industry knowledge and strategic guidance to the company.
- Strengthened Internal Controls: Since stepping in as Interim CFO, Cimino has enhanced the company's internal controls and advanced operational and capital allocation strategies, thereby improving financial robustness.
- Clean Energy Strategy: Cimino expressed his commitment to supporting the company's growth in delivering reliable clean energy solutions, reflecting the company's dedication to long-term value creation in the renewable energy sector.
Today's Options Volatility and Implied Earnings Changes - November 11, 2025
Earnings Reports Today: Major companies reporting earnings today include Ceragon Networks (CRNT), Microvision (MVIS), SFL Corporation (SFL), Endava (DAVA), Hyliion Holdings (HYLN), and Spruce Power Holding (SPRU).
Expected Earnings Moves: TipRanks provides insights into expected earnings moves based on options prices, which many investors monitor prior to earnings announcements to gauge potential stock movements.
Pre-Market Earnings: Companies reporting before market open include CRNT with an expected move of +/- 19.30%, SFL at +/- 5.90%, and DAVA at +/- 23.12%.
Post-Market Earnings: Companies reporting after market close include MVIS with an expected move of +/- 11.21%, HYLN at +/- 16.99%, and SPRU at +/- 21.67%.
Spruce Power Collaborates with Treehouse to Boost Growth in Home Battery Storage Expansion
Strategic Partnership: Spruce Power has partnered with Treehouse to expand into the home battery storage market, leveraging Treehouse's software-enabled installation platform to enhance customer offerings and streamline the upgrade process for existing solar systems.
Market Expansion and Revenue Growth: This collaboration allows Spruce to tap into the rapidly growing battery energy storage sector, creating new revenue streams and deepening customer relationships without significant capital investment, thereby reinforcing its leadership in distributed clean energy.
Spruce Power Expands Cost-Effective Service Model to California
- Cost Reduction: Spruce Power has successfully reduced operating and maintenance costs by approximately 25% through its in-house service teams in New Jersey, establishing a strong foundation for expansion into California.
- Efficiency Improvement: The New Jersey team has enhanced scheduling and inventory management, resulting in shorter repair cycles and improved system availability, which directly boosts asset value and revenue potential.
- Market Expansion: Spruce plans to replicate this successful service model in California, initially covering the area from San Diego to Los Angeles, with plans to scale operations as they mature over time.
- Strategic Advantage: By vertically integrating its services, Spruce not only enhances its own capabilities but also creates opportunities to service third-party assets, further leveraging its fixed-cost operational infrastructure.
Spruce Power Declines 2% Following Appointment of Thomas Cimino as Permanent CFO
Company Update: Spruce Power Holding Corporation (SPRU) has appointed Thomas Cimino as its permanent Chief Financial Officer, transitioning from his previous role as interim CFO.
Stock Performance: Following the announcement of Cimino's permanent appointment, SPRU shares fell by 2.17%, trading at $5.18.
Cimino's Responsibilities: In his new role, Cimino will continue to oversee finance, accounting, capital markets, and strategic initiatives for the company.
Disclaimer: The views expressed in the article are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.
Spruce Power Holding Names Thomas Cimino as Chief Financial Officer
New CFO Appointment: Spruce Power Holding Corp. has appointed Thomas Cimino as Chief Financial Officer, effective immediately, after serving as interim CFO since June 2025.
Cimino's Background: Thomas Cimino has held significant financial roles in various companies, including CFO positions at Vantage Drilling International and AEI Services, and was Executive Vice President of Finance and Administration at EnfraGen.
Current Stock Performance: Spruce's stock is currently trading at $5.22, reflecting a decrease of 1.51 percent on the New York Stock Exchange.
Disclaimer: The views expressed in the article are those of the author and do not necessarily represent the opinions of Nasdaq, Inc.
Spruce Power Appoints Thomas Cimino as CFO, Enhancing Financial Leadership
- Leadership Appointment: Spruce Power has officially appointed Thomas Cimino as Chief Financial Officer, effective December 3, 2025, marking a commitment to stability and continuity in financial management.
- Experienced Leader: With over 25 years of financial leadership experience, including roles as CFO at Vantage Drilling and AEI Services, Cimino brings extensive industry knowledge and strategic guidance to the company.
- Strengthened Internal Controls: Since stepping in as Interim CFO, Cimino has enhanced the company's internal controls and advanced operational and capital allocation strategies, thereby improving financial robustness.
- Clean Energy Strategy: Cimino expressed his commitment to supporting the company's growth in delivering reliable clean energy solutions, reflecting the company's dedication to long-term value creation in the renewable energy sector.
Today's Options Volatility and Implied Earnings Changes - November 11, 2025
Earnings Reports Today: Major companies reporting earnings today include Ceragon Networks (CRNT), Microvision (MVIS), SFL Corporation (SFL), Endava (DAVA), Hyliion Holdings (HYLN), and Spruce Power Holding (SPRU).
Expected Earnings Moves: TipRanks provides insights into expected earnings moves based on options prices, which many investors monitor prior to earnings announcements to gauge potential stock movements.
Pre-Market Earnings: Companies reporting before market open include CRNT with an expected move of +/- 19.30%, SFL at +/- 5.90%, and DAVA at +/- 23.12%.
Post-Market Earnings: Companies reporting after market close include MVIS with an expected move of +/- 11.21%, HYLN at +/- 16.99%, and SPRU at +/- 21.67%.
Spruce Power Collaborates with Treehouse to Boost Growth in Home Battery Storage Expansion
Strategic Partnership: Spruce Power has partnered with Treehouse to expand into the home battery storage market, leveraging Treehouse's software-enabled installation platform to enhance customer offerings and streamline the upgrade process for existing solar systems.
Market Expansion and Revenue Growth: This collaboration allows Spruce to tap into the rapidly growing battery energy storage sector, creating new revenue streams and deepening customer relationships without significant capital investment, thereby reinforcing its leadership in distributed clean energy.
