Ambit Energy

Overview

Founded in 2006 by Jere Thompson Jr. and Chris Chambless, Ambit Energy built its customer base by selling electricity and natural gas service in states that have deregulated their energy retail markets, rather than through traditional retail storefronts or utility channels. The company grew quickly in its first several years, was recognized by Inc. magazine as the fastest-growing private company in 2010, and reported surpassing one million active customers by 2012. Ambit distributes its services through a network of Independent Consultants who enroll customers and can also build teams of other consultants, a direct-selling structure typical of the energy-marketing sector. On August 20, 2019, Vistra Energy (now Vistra Corp, NYSE: VST) announced an agreement to acquire Ambit Energy for approximately 475 million US dollars in cash; Ambit has since operated as one of several retail brands under the Vistra umbrella alongside names such as TXU Energy. Ambit continues to operate under its own brand and consultant-based sales model, offering electricity, natural gas, and renewable/solar energy plans across a number of deregulated U.S. states.