Globalive Technology (TSX-V: LIVE), a pioneer in emerging decentralized financial technology, has signed a joint venture agreement with Sponsor Energy, 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.

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.