iSun, Inc Partners with Cleantech Industry Resources
October 19 2023 - 9:00AM
Business Wire
Partnership provides iSun with low-cost
services and transformational growth opportunities
iSun, Inc. (NASDAQ: ISUN) (the “Company” or “iSun”), a leading
solar energy and clean mobility infrastructure company with
50-years of experience accelerating the adoption of innovative
electrical technologies, today announced a strategic partnership
with Cleantech Industry Resources, LLC, a highly-automated provider
of energy project development and engineering services. This
partnership allows iSun to hone its expanding core turnkey EPC
business, while CIR concentrates on its growing
development-as-a-service and engineering services business. The
arrangement is also designed to reduce any conflicts for iSun with
its many developer partners, while CIR continues to work with a
wide range of developers and renewable energy asset owners.
This strategic partnership also allows iSun to access CIR’s
ultra low-cost services platform on a preferred basis.
Additionally, iSun retains construction rights on all CIR’s
internally developed and owned projects, as well as preferred
partner status for CIR’s growing pipeline of EPC-related
projects.
“We are excited about our strategic partnership with Cleantech
Industry Resources, as we continue to be innovative in our approach
to scaling our business,” said Jeffrey Peck, Chairman and Chief
Executive Officer of iSun. “This new partnership allows iSun to
expand our access to developmental assets that will fuel our
project backlog for years to come, based upon CIR’s estimated
pipeline of 5.25 GW, while also enabling us to more efficiently and
cost-effectively move forward on our current pipeline of solar
projects assets under development.”
About iSun Inc.
Since 1972, iSun has accelerated the adoption of proven,
life-improving innovations in electrification technology. iSun has
been the trusted service provider to Fortune 500 companies for
decades and has installed clean rooms, fiber optic cables, flight
simulators, and over 600 megawatts of solar systems. The Company
currently provides a comprehensive suite of solar services across
residential, commercial, industrial & municipal, and utility
scale projects and provides solar electric vehicle charging
solutions for both grid-tied and battery-backed solar EV charging
systems. iSun believes that the transition to clean, renewable
solar energy is the most important investment today and is focused
on profitable growth opportunities. Please visit www.isunenergy.com
for additional information.
About Cleantech Industry Resources, LLC
CIR creates total transparency in the renewable energy project
development and engineering processes while dramatically lowering
costs and accelerating associated projects and portfolios,
providing a menu-based turnkey development-as-a-service, turnkey
engineering services and turnkey construction management (EPCm)
services as well as a subscription-based Electrical Engineer
platform. CIR has offices in Burlington, Vermont and Ahmedabad,
India, creating a three-shift, 24-hour workday – this means
projects move three times as quickly through development and
engineering milestones at a fraction of the cost. The Company
leverages advanced software tools, automation and strict quality
control standards to ensure best-in-class performance of associated
work products.
Forward Looking Statements
This press release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, which are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, as amended. Words or phrases such as
"may," "should," "expects," "could," "intends," "plans,"
"anticipates," "estimates," "believes," "forecasts," "predicts" or
other similar expressions are intended to identify forward-looking
statements, which include, without limitation, earnings forecasts,
effective tax rate, statements relating to our business strategy
and statements of expectations, beliefs, future plans and
strategies and anticipated developments concerning our industry,
business, operations and financial performance and condition.
The forward-looking statements included in this press release
are based on our current expectations, projections, estimates and
assumptions. These statements are only predictions, not guarantees.
Such forward-looking statements are subject to numerous risks and
uncertainties that are difficult to predict. These risks and
uncertainties may cause actual results to differ materially from
what is forecast in such forward-looking statements, and include,
without limitation, the risk factors described from time to time in
our filings with the Securities and Exchange Commission, including
our Annual Report on Form 10-K. All forward-looking statements
included in this press release are based on information currently
available to us, and we assume no obligation to update any
forward-looking statement except as may be required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20231019487412/en/
For more information contact: Investor Relations
IR@isunenergy.com
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