Solar3D's SUNworks Announces New Sales of 1-Megawatt of Commercial Solar Systems
May 29 2014 - 3:01AM
Marketwired
Solar3D's SUNworks Announces New Sales of 1-Megawatt of Commercial
Solar Systems
The Company Recently Signed Contracts on Large Custom Solar
Projects for Two Prominent Northern California Agriculture
Companies and Are Set to Complete by August 2014
ROSEVILLE, CA--(Marketwired - May 29, 2014) - Solar3D, Inc.
(OTCQB: SLTD), a leading solar power company and the developer of a
proprietary high efficiency solar cell, today announced that its
SUNworks division recently finalized contracts on two large custom
solar projects that will total just south of 1-megawatt between
Scully Packing Co. and Sacramento Valley Walnut Growers.
"We could see from the initial visit that there was a natural
fit between SUNworks and Scully Packing Co. Both companies
have impeccable 30-year-old licenses and inherit the same core
values of 'Founded on Quality, Built on Long Lasting
Relationships,'" said Abe Emard, CEO of SUNworks. Located in
Finley, CA, Scully Packing Co. prepares over 1 million packages of
pears annually. SUNworks was competing against proposals from
other top industry solar system providers but was ultimately able
to secure the job with a proposed 400kW roof mounted system that
would offset approximately 75% of the Exeter Facility's power
needs, securing a projected savings of $2.2M in electricity cost
over the next 25 years.
SUNworks other large solar project is located in Yuba City,
where they will be designing and installing a 572kW roof mount
system for Sacramento Valley Walnut Growers, a grower owned
processor and marketer with the mission statement to "Deliver the
highest quality products every day. Their commitment begins in the
orchard." Mr. Emard continued by saying "It's great to see a
company that's extremely passionate about their offering and want
to share it with the world. That is exactly how we feel at
SUNworks." The fully customized 572kW roof mount system will
be a fitting addition to their state-of-the-art facility in Yuba
City, and will provide an offset of 74% of current electricity
consumption, netting an estimated $5.7M in savings over the next 25
years.
Nelson concluded, "While we expect news shortly on our third
generation prototype 3-dimensional solar cell, the news in our
operating division, SUNworks, continues to be very
exciting. With these new projects, in addition to others that
we expect to hear about shortly, performance in our commercial and
agricultural sector is expected to be far stronger than last
year. In residential, we already have contractual commitments
exceeding last year's sales."
SUNworks is focused on the design, installation and management
of solar systems for agricultural, commercial, & residential
customers. SUNworks has delivered hundreds of 2.5 kilowatt to
1-megawatt commercial systems and has the capability to deliver
systems as big as 25 megawatts. Reporting of Solar3D and SUNworks
results will be fully consolidated by the second quarter of this
year.
About Solar3D, Inc.
Solar3D is a leading provider of solar power solutions and the
developer of a proprietary high efficiency solar cell. The
company's SUNworks division focuses on the design, installation and
management of solar power systems for commercial, agricultural and
residential customers. SUNworks is one of the fastest growing solar
systems providers in California and has delivered hundreds of 2.5
kilowatt to 1-megawatt commercial systems and has the capability of
providing systems as large as 25 megawatts. Solar3D's technology
division is developing a patent-pending 3-dimensional solar cell
technology to maximize the conversion of sunlight into electricity.
The Solar3D Cell collects sunlight from a wide angle and lets light
bounce around in 3-dimensional microstructures on the solar cell
surface. The Company's mission is to further the widespread
adoption of solar power by deploying affordable, state-of-the-art
systems and developing breakthrough new solar technologies.
To learn more about Solar3D, visit our website at
http://www.Solar3D.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and
similar expressions identify such forward-looking statements.
Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the
forward-looking statements contained herein. These forward-looking
statements are based largely on the expectations of the Company and
are subject to a number of risks and uncertainties. These risks
include, but are not limited to, risks and uncertainties associated
with: the impact of economic, competitive and other factors
affecting the Company and its operations, markets, products, and
prospects for sales, failure to commercialize our technology,
failure of technology to perform as expected, failure to earn
profit or revenue, higher costs than expected, persistent operating
losses, ownership dilution, inability to repay debt, failure of
acquired businesses to perform as expected, the impact on the
national and local economies resulting from terrorist actions, and
U.S. actions subsequently; and other factors detailed in reports
filed by the Company.
Press Contact:
Jim Nelson Email Contact 805/690-9000
Sunworks (NASDAQ:SUNW)
Historical Stock Chart
From Mar 2024 to Apr 2024
Sunworks (NASDAQ:SUNW)
Historical Stock Chart
From Apr 2023 to Apr 2024