iSun Selected by Northern Reliability & Community Development Enterprises for PV Installation of one of America’s Largest S...
March 22 2021 - 8:30AM
Business Wire
iSun, Inc. (NASDAQ: ISUN) (“iSun” or the “Company”), a leading
solar energy and clean mobility infrastructure company with 50
years of construction expertise for solar, electrical and data
services, today announced that it has been selected to provide its
innovative solar products and services for phase one of one of the
nation’s largest solar plus storage microgrid projects underway in
Jackson, TN.
Highlights
- Award highlights synergies between iSun’s long-standing Peck
solar EPC services and iSun’s innovative solutions and strong
presence in the solar market
- $25 million award accelerates iSun’s entry into a new
geography
- Is a model CDE, NRI, and iSun can replicate across the
country
Phase one of the multi-phase project led by industry pioneer
Northern Reliability is the vision of Community Development
Enterprises (“CDE”) whose mission is to provide green energy
solutions and economic relief to cities across the United States
that have been hit with natural disasters and economic challenges
over the past decade. Under the agreement, iSun will provide
Engineering Procurement and Construction (“EPC”) services for the
16MW ground mount solar energy infrastructure. iSun’s estimated
contract value is approximately $25 million with installations
beginning in late-summer 2021.
“The selection of iSun as the provider of the solar portion of
this project is testament to the Company’s established position as
a high-quality EPC partner in the solar energy market and iSun’s
innovative solar products and solutions. Our team has the ability
to engage at all stages of a project to provide EPC expertise,
innovation recommendations and confidence in our ability to
execute,” said Jeffrey Peck, Chairman and Chief Executive Officer
of iSun. “We are excited to be working with such forward thinking
partners in NRI and CDE that share our values. Constructed solar
assets will provide immediate local jobs and benefits to the
Jackson, TN area for decades to come, and we are looking forward to
continuing to work together to pursue similar opportunities across
the nation.”
“We evaluated multiple proposals for our Jackson solar microgrid
from qualified EPCs and it was clear to us that the iSun proposal
stood out as superior. CDE has selected iSun because of the
high-quality and detail presented in their 16MW array facility
design, their flexibility in adapting to our usual site and use
case demands, the overall completeness of their scope, and the high
votes of confidence provided by their long-term customers,”
remarked Dennis Emberling, President and CEO of CDE in Jackson.
Emberling continued, “This project is part of a larger effort by
CDE to help Jackson redevelop. It will bring new businesses, new
jobs, new educational opportunities, and $211M in economic impact
to Jackson, including contributions to their infrastructure and
community organizations. In selecting our Project Partners, it was
important that our Partners shared the values of the communities
that we are serving. We think CDE and iSun are a fit, and we look
forward to doing many projects together in the near future.”
Gregg Noble, Vice President of Sales & Development of
Northern Reliability, Inc., added, "The team at NRI is pleased to
make this announcement regarding the selection of iSun as the PV
vendor for the Jackson Solar Microgrid project. iSun will be a
valuable part of the team as we push forward CDE's vision of
redeveloping the City of Jackson into a green energy hub and energy
model of the future. The success in Jackson is critical towards
understanding the economic potential which exists in all of
America's hardest hit communities. It is not a story about
technology, it is a hopeful story about the path forward. We are
proud to be moving down that path with a partner like iSun who
shares that same positive vision for the business and citizens of
this community."
About iSun, Inc.
Headquartered in Williston, VT, iSun, Inc. (NASDAQ: ISUN) is a
business rooted in values that align people, purpose, innovation,
and sustainability. Ranked by Solar Power World as one of the
leading commercial solar contractors in the Northeastern United
States, iSun provides energy services, smart city innovations and
clean mobility infrastructure to customers for projects from smart
solar mobile phone and electric vehicle charging, up to
multi-megawatt renewable energy solutions. Since entering the
renewable energy market in 2012, iSun has installed over 200
megawatts of rooftop, ground mount and EV carport solar systems
(equal to power required for 38,000 homes). We continue to focus on
profitable growth opportunities. For more information, visit
www.isunenergy.com
About Northern Reliability, Inc.
Northern Reliability, Inc. (“NRI”) is a US-based power systems
integrator and the oldest operating engineering firm in the energy
storage space based in Waterbury, Vermont. Initially formed as the
energy storage and hybrid power systems division of Northern Power
(formerly TSX:NPS) in the early 1970s, the NRI engineers broke off
to become a separate organization. Having designed and deployed
over 1,100 off-grid and microgrid power systems around the planet,
the NRI team made news in T&D World Magazine 2017, 2018, and
2019 when it was awarded a unique $1.3M Grid-Tied Distributed
Energy System Project for Xcel Energy in Denver, CO, the largest
grid-tied solar + storage project in the Southern U.S., for Today’s
Power, Inc. in Fayetteville, Arkansas 12MW-26.1MWh, and for a
transportable storage contract with EPRI and the US Navy. In March
2021, NRI co-founded the first Mobile Energy Storage platform Nomad
Transportable Power Systems. Visit www.northernreliability.com
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements include, but are not limited
to, statements about (i) the benefits of the proposed acquisition,
including future financial and operating results, cost savings and
synergies, effects on cash flow, market accessibility, financing
opportunities, enhancements to revenue and accretion to reported
earnings that may be realized from the proposed acquisition; (ii)
iSun’s plans, objectives, expectations and intentions and other
statements contained in this press release that are not historical
facts; and (iii) other statements identified by words such as
“expects” “anticipates,” “intends,” “plans,” “believes,” “seeks,”
“estimates,” “targets,” “projects,” or words of similar meaning
generally intended to identify forward-looking statements. These
forward-looking statements are based upon the current beliefs and
expectations of the respective management of iSun and are
inherently subject to significant business, economic and
competitive uncertainties and contingencies, many of which are
beyond the control of iSun. In addition, these forward-looking
statements are subject to assumptions with respect to future
business strategies and decisions that are subject to change.
Actual results may differ materially from the anticipated results
discussed in these forward-looking statements because of possible
uncertainties.
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version on businesswire.com: https://www.businesswire.com/news/home/20210322005182/en/
Investor Relations: Chase Jacobson IR@isunenergy.com p:
802-264-2040
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