Partnership provides iSun with low-cost services and transformational growth opportunities
WILLISTON, VT, October 19, 2023 – 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.
For more information contact:
Investor Relations
IR@isunenergy.com
