Griddy announces new leadership – Meet the team
We are excited to announce that Griddy has appointed a new leadership team to help take our mission of direct-to-consumer wholesale electricity to a new level. The new team shares Griddy’s vision to disrupt the energy market. With their proven track record of successfully building electric retail companies, their experience will help Griddy deliver an unparalleled product and service to energy consumers in Texas and beyond.
The management team includes Michael Fallquist as the Chief Executive Officer, Christian McArthur as the Chief Operating Officer and Roop Bhullar as Chief Financial Officer. They served in similar roles at Crius Energy, an independent energy marketer of retail electricity, natural gas and solar products to residential and commercial customers, until July 2019 when it was acquired by Vistra Energy. Under their leadership, Crius Energy operated in 19 states and the District of Columbia, serving 1.4 million customers. It went public on the Toronto Stock Exchange and retrieved total returns of public unit holders of around 10% (compound annual growth rate) including distributions paid to unit holders of more than C$200 million.
With their proven track record of successfully building electric retail companies, their experience will help Griddy deliver an unparalleled product and service to energy consumers in Texas and beyond. Their main focus for the upcoming months will be:
- Solutions to combat price volatility, including a “price lock” feature for peak periods
- A network marketing program to rapidly grow the business in Texas and facilitate expansion into new markets
The co-founders, outgoing CEO Greg L Craig and executive chairman Nick Bain, will continue to see Griddy grow as they join the Griddy Energy board of directors. They are excited for the new team to make their dream that began four years into a household name and continue to disrupt the energy market.
With the new management team, Griddy has also entered into a financial agreement with Macquarie Energy to provide a wholesale supply facility and investment capital to support rapid growth and market expansion.
Meet the Team
Michael Fallquist as Chief Executive Officer
With more than 14 years of executive experience within Retail Electricity, and having been named an Ernst & Young Entrepreneur of the Year®, Mr. Fallquist is a highly successful entrepreneur and energy industry expert. Mr. Fallquist’s unique combination of industry know-how and pioneering spirit led to a successful decade as CEO of Viridian Energy and Crius Energy, and that experience drives his passion and vision for the future of Griddy
Christian McArthur as Chief Operating Officer
Mr. McArthur is a proven energy industry executive and innovator with a rare combination of leadership, strategic thinking, and technical skills. Most recently, Mr. McArthur was COO of Crius Energy, where he managed the P&L of the retail energy business with more than $1 billion in annual revenue and $100 million in annual EBITDA.
Roop Bhullar as Chief Financial Officer
Mr. Bhullar is a highly successful financial executive with significant experience in deregulated energy markets. Most recently, Mr. Bhullar served as the CFO of Crius Energy, a $1 billion energy supplier, where he provided day-to-day financial leadership from pre-revenue startup in 2010 to a $100 million IPO in 2012 and exit in 2019 via sale to a strategic competitor for $500 million.
A Note From Incoming CEO Michael Fallquist
“We are thrilled to join Griddy and to help the business reach its tremendous potential. We are focused on enhancing the member experience, building new sales channels and expanding into new markets both domestic and international.
We see Griddy as the future of retail energy and are excited to lead the energy space as it adopts newer technologies and a greener, renewable focus on the grid.
We understand that summer 2019 was rough for Griddy members, so we are working on providing ways to combat price spikes. While we are here to adjust what didn’t work for past price events, we will also be working on more exciting enhancements of where we see the energy marketed headed – one that is more grid-independent and technologically enabled with a real commitment to embracing renewable energy.”