Solar3D’s SUNworks Division Secures $3 Million in Two New Agricultural Solar Contracts
Company continues to draw interest from farming organizations seeking to realize long and short term cost savings
SANTA BARBARA, CA – (June 16, 2015) - Solar3D, Inc. (NASDAQ:SLTD), a leading provider of solar power solutions and the developer of a proprietary high efficiency solar cell, announced today that it has just secured a $2 million contract for the design and installation of an agricultural solar project for Payne Brothers Ranches (Payne Farms) in Woodland, California; and an approximately $1,000,000 contract to design and install a photovoltaic system for a large rice farm based in Pleasant Grove, California.
Established in 1963 and led by Robert and William A. Payne, Payne Brothers Ranches has developed a stellar reputation for producing high quality produce. Located in Woodland, CA, the farm is seeking a photovoltaic system that will reduce high-energy costs and achieve both short-term and long-term savings. To address these objectives, SUNworks presented a plan for the implementation of a 1 megawatt (MW) DC fixed tilt ground mount solar system designed to provide power for 19 wells and a nut hulling facility. Following construction, it is anticipated that the system will achieve cost savings for the farm of more than $7.2 million over a period of 25 years.
The Pleasant Grove rice farm, owned and operated by Richard and Laura Nelson, is yet another agricultural organization to turn to SUNworks for the purposes of implementing a solar system that would improve energy efficiencies and reduce overall costs. The system, a 435 kilowatt (kW) fixed ground mount, will provide the farm with the ability to offset multiple meters from a single installation, or interconnection point, through Aggregated Net Metering. It is anticipated that the system will achieve cost savings for the farm of approximately $4.8 million over a period of 25 years.
“Our team continues to generate organic interest from farming organizations throughout the region who turn to the SUNworks team for energy solutions tailored to meet the needs of their operation,” said Abe Emard, CEO of SUNworks. “These partnerships, like many before them, are results of our track record for providing the absolute highest quality yet cost effective solar systems for those within the agricultural industry.”
“SUNworks has cemented its reputation as a premier provider of solar to the agricultural industry, a high growth area for which solar energy is ideally suited,” said Jim Nelson, CEO of Solar3D. “We believe this trend will only grow as the price of solar steadily declines. With our customer service track record of providing not only results, but ongoing support, we are confident that the agricultural community will continue to respond with organic referrals.”
About Solar3D, Inc.
Solar3D, a leading provider of solar power solutions, is focused on the design, installation and management of solar power systems for commercial, agricultural and residential customers. Through its wholly owned subsidiaries, Solar3D is one of the fastest growing solar systems providers in California delivering 2.5 kilowatt to multi-megawatt commercial systems. 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.
About SUNworks
SUNworks is a commercial and residential division of Solar3D, Inc. (OTCQB: SLTD), a leading solar power company and the developer of a proprietary high efficiency solar cell. SUNworks is focused on the design, installation and management of solar systems for agricultural, commercial, and 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. SUNworks serve commercial, agricultural and residential customers throughout California and Nevada.
To learn more about SUNworks, visit http://www.visitsunworks.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.
News 
Market Data 
Discover 
AI
