iSun, Inc. Celebrates Earth Day 2021 with One Year Anniversary of GreenBond Advisors Partnership
April 22 2021 - 8:30AM
Business Wire
GreenBond Advisors Partnership highlights
commitment to clean energy production
Updates on Development Pipeline
iSun, Inc. (NASDAQ: ISUN) (“iSun”), a leading solar energy and
clean mobility infrastructure company with 50 years of construction
experience in solar, electrical and data services, today, in
conjunction with Earth Day, announced a progress update regarding
its partnership with GreenSeed Investors LLC and its affiliates,
including GreenBond Advisors LLC (“GreenBond affiliates”), which
aims to enhance iSun’s access to the growing Green Bond segment of
the fixed income market by expanding its Engineering, Procurement,
and Construction (“EPC”) bid pipeline and grow its base of
recurring revenue and earnings.
Key Highlights
- GreenBond affiliates are building on existing indications of
interest from leading institutional investors to proceed with
investment in an investment grade private placement offering of
$350 million of Green Bonds to fund the construction of qualified
solar projects.
- GreenBond affiliates are now reviewing or negotiating the
purchase of over 4,000 MW of utility-scale solar projects at
various stages of development which can be constructed using
proceeds from its Green Bond offering.
- iSun’s recent entry in the utility-scale solar EPC market
uniquely positions iSun to capitalize on these future
opportunities.
- iSun will own a minority interest in the solar projects it
constructs for the partnership.
“We remain excited about the growth opportunities presented
through our partnership with GreenBond Advisors and GreenSeed
Investors and are pleased to be able to announce this important
update on Earth Day, as iSun supports the transition from dirty
energy to clean energy,” said Jeffrey Peck, Chairman and Chief
Executive Officer of iSun. “The main goals of our partnership are
to increase our solar EPC pipeline and to provide asset ownership
opportunities to increase our recurring revenue stream. We are
confident that the combination of our enhanced utility solar
capabilities with GreenBond Advisors’ project pipeline and
financing commitments positions us well for meaningful results in
the coming quarters.”
“We are pleased to celebrate Earth Day and the one-year
anniversary of our partnership with iSun by announcing significant
progress in the achievement of our joint corporate objectives,”
said William Dale, Chairman and Chief Executive Officer of
GreenBond Advisors, LLC and GreenSeed Investors, LLC. “Over the
past year we have successfully developed a platform and received
indications of interest from leading institutional investors to
proceed with investment in an investment grade private placement
offering of $350 million of Green Bonds to fund the construction of
qualified solar projects. Additionally, our affiliate companies
have built teams of experts in the renewable energy project
development and procurement field and are now reviewing or
negotiating the purchase of over 4,000 MW of utility scale solar
projects. We maintain a strong discipline in the acquisition of
solar projects to ensure long-term profitability for our investors
in Solar Project Partners, the passive holding company which will
own developed solar projects with our partners. iSun’s commitment
to growing their utility scale solar EPC business will help
accelerate our business model and provide quality, investment grade
Green Bonds for the deep pool of institutional investors seeking to
expand their investment in this rapidly growing asset class.”
ABOUT iSUN
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 United States, iSun
provides solar energy and clean mobility infrastructure to
customers for projects from smart solar mobile phone and electric
vehicle charging, up to multi-megawatt renewable energy solutions
for commercial, industrial, and utility customers. iSun’s
innovations were recognized this year by the Solar Impulse
Foundation of Bertrand Piccard as one the globe’s Top 1000
Sustainability Solutions. As a winner, this award will result in
the iSun solution being presented to hundreds of government
entities around the world, including various municipal, state, and
federal agencies in the United States. Since entering the renewable
energy market in 2012, iSun has installed over 650 megawatts of
rooftop, ground- mount and EV-carport solar systems (equal to power
required for 123,500 homes). We continue to focus on profitable
growth opportunities. For more information, visit
www.isunenergy.com
About GreenBond Advisors LLC
Headquartered in New York City, NY, GreenBond Advisors was
formed in 2020 to deliver financial product innovation into the
Green Bond market with new Green Bond product designs that allow
risk-adverse investment capital to be more easily directed into new
green energy infrastructure development and construction. GreenBond
Advisors works with an ecosystem of affiliate companies and
partnerships designed to help conservative investors earn
competitive rates of return while making a measurable impact on the
transition to a world powered by clean energy. Please visit
www.greenbondadvisors.com for additional information.
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) iSun’s plans, objectives, expectations and
intentions and other statements contained in this press release
that are not historical facts; and (ii) 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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INVESTORS Chase Jacobson IR@isunenergy.com 802-264-2040
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