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Solar3D’s Operating Division Secures $4 Million During Spree of Deals
SUNworks’ agricultural and commercial projects continue to grow in terms of scope and size
SANTA BARBARA, CA - October 22, 2015 - Solar3D, Inc. (NASDAQ: SLTD), a provider of solar power solutions, announced today that its operating subsidiary SUNworks, has secured three large deals resulting in $4 million in sales, demonstrating the Company’s expanding footprint and providing a strong indication of what the Company believes will continue to be strong month-over-month growth.
Commerce Printing, a full service printing company based in Sacramento, contracted SUNworks for the design and installation of an approximately 644kW Sunpower Roof Mount solar system. The $1.54 million agreement is expected to generate over $4 million in energy cost savings over a 25-year period.
DeRuosi Nut is a walnut processing facility located in California's central valley in Escalon. SUNworks will implement a 450kW roof mount Canadian Solar system designed to achieve energy cost savings of more than $2.6 million over a 25-year period.
The third announced project is yet another to fall within the Company’s exploding agricultural practice area. The partnership with Joe Heidrick Enterprises marks the fourth and fifth systems implemented by SUNworks for Heidrick, a well-known entrepreneur in the Sacramento region. The Company will provide the organization with two solar systems, a 151.2kW roof mount and a 428.4 roof mount and canopy. Both projects will total a contract size of approximately $1.6 million, and generate well over $5 million in energy savings over a 25-year period.
“We are pleased that the progress in terms of project and sales volume achieved over the summer has continued into the fall, exemplified by these three deals,” said Jim Nelson, CEO of Solar3D. “It is important to note that these three agreements, diverse in both organization type and of the systems to be installed, showcase SUNworks’ depth of experience and customized approach to solar solutions. This is a key factor for why we expect to maintain our growth within the agricultural, commercial, and residential sectors, ultimately driving Company revenue and shareholder value,” said Mr. Nelson.
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 wholly owned subsidiary of Solar3D, Inc. (NASDAQ: 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. The Company has delivered hundreds of 2.5 kilowatt to 1-megawatt commercial systems and has the capability to deliver systems as large as 25 megawatts. SUNworks serves commercial, agricultural and residential customers throughout California and Nevada.
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.
This message was sent to ghunsicker@mcelroys.com from:
Solar3D Newsletter | info@solar3d.com | Solar3D Inc | 6500 Hollister Ave. Suite 130 | Santa Barbara, CA 93117
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They have been putting business on the books every day M-F and possibly some Saturdays but they only get to share it with US about every 90 days so just be patient or make your exit.
Long SLTD
Great post!
I'd say we are holding our own pretty well honestly for the brow beating that is taking place overall. I am happy about this which is kinda goofy but we have some great days ahead of us. Ok everyone have a good weekend and remember this..You can't take it with you..
Here is a nice piece I had not seen before http://solar3d.com/files/Solar3D%20Company%20Presentation_81315_v3.pdf
Maybe the Fresno situation instigated this?
All this cell talk and nobody mentioned the possibility that the lack of a patent could be part of the reason we have no manufacturing partner. I think this is a major reason IMHO.
Kinda like Ray's Steakhouse where you can find everything on the menu but STEAK. They make a killing off the gourmet burgers and all the sides though..
Actually this is a very slick idea
http://www.quickmountpv.com/support/videos/qr-timed.html
Thanks Bucky I appreciate the clarification.
I think IR had this PR ready just to help stave off the heavy downside action they saw coming with horrible market conditions. I am confident JN will see this acquisition through just as he has the prior. My only concern with the added companies is that it appears they may all still be operating as independent companies? I was hoping they would all go to market as Solar3D brand if that makes sense? I know this is a bit off topic but what do other here think as we acquire more companies and management teams? Is S3D just a holding company for a bunch of different named companies which S3D management teams do not directly control?
Solar3D Aims to Dominate California Farming Sector with Anticipated Acquisition of Elite Solar
Company’s upcoming acquisition will provide synergistic value to existing subsidiaries and establish Solar3D as a premier solar provider in the California farming sector
SANTA BARBARA, CA - August 20, 2015 - Solar3D, Inc. (SLTD), a provider of solar power solutions and the developer of a proprietary high efficiency solar cell, today commented on the importance of the addition of Elite Solar to its family of companies. The acquisition of Elite Solar also continues Solar3D practice of adding another profitable solar company with a strong reputation for excellent customer service throughout its region.
“Identifying solar companies for our consolidation strategy requires vigorous due diligence process that our team takes very seriously,” said Jim Nelson, CEO of Solar3D. “While vetting a number of strong companies, we were drawn to Elite Solar’s rapid organic growth in the Northern California and Central Valley farming sector, as well as their synergistic value-add to our other divisions, SUNworks and MD Energy. An important part of our consolidation strategy is to build an ecosystem where all Solar3D subsidiaries, current and future, leverage expertise and resources through their relationship with one another, resulting in a Solar3D enterprise with stronger offerings, more market presence, and poised for tremendous revenue growth.”
Elite Solar, led by CEO Kirk Short, is comprised of over 25 professionals whose reputation for providing customer-friendly solar solutions has resulted in sales expected to approach $20 million in 2015 compared to $7.5 million in 2014, an increase of 166%--with a very strong year end backlog. Elite Solar is known for its presence as a dominant player within the agricultural solar industry in California, executing approximately 70% of its contracts in the farming sector, with 20% in commercial, and 10% residential. Their foothold in the space is expected to align directly with SUNworks growing area of focus, as the Roseville, CA-based subsidiary has recently closed a flurry of contracts for large agricultural solar projects.
“We believe the integration of Elite Solar into Solar3D will provide the resources and infrastructure we need to continue our rapid growth and allow the combined company dominate the California farming solar market,” said Kirk Short, CEO of Elite Solar. “The size and scope of the solar projects we’ve completed have dramatically increased this year as we have signed a number of projects in excess of a megawatt. We expect this trend to continue due to our collaboration with SUNworks, a peer organization with a very specialized know-how for designing and installing solar systems that reduce energy costs for California farmers.”
Nelson concluded, “While investing the months of work finding Elite, framing the deal, and concluding our agreement with Kirk Short and his team, we have continued discussions with a group of other solar companies that fit our criteria. We believe that we will be able to come to agreements with more outstanding companies in the coming weeks and months.”
Anticipated? I never liked that word much and I don't like it any better today either.
Staying Power to me is the individual investors ability stay put while we mature into what will be a great industry and a good company with a great management team.
I do not expect to see the market react positively or large institutional investors climb aboard until we have a history of great earnings reports. Good PR's are nice but they mean nothing until the ER's show otherwise and those days are ahead of us. My expectations of PPS are realistic to be between $5-$6 this time next year and that my investment will be safe in S3D with an upside potential that has a very strong chance of changing the way I live the 2nd half of my life. Insider sales will happen and if they are anything similar to the past then I take no issue at all and they have zero to do with lack of insider support! Cheers
This is very cool! Sometimes (like almost every day) I say to myself this stock should be going up in value nearly every day but then I see things like this and it reminds me that we really are invested into an great industry and a great company both of which are truly just in their infancy.
What we need right now is staying power! Longs will prevail in the end.
Yes it sure looks that way
Sun Vault would certainly be ok by me. I keep watching them and they are the kind of company we could use effectively in our portfolio
Thanks Bucky! You nailed the proof to what I suspected was part of the deal. Great things are ahead!!!
Are we are acquiring a racking company as well in the latest deal? http://www.universalracking.bravesites.com/Gallery
Now if JN can find an acquisition with some battery storage solutions in the near future this would be even better. I am very excited about the acquisitions taking shape here but the market is not going to take notice until we show the net profits obviously. Popcorn...
I totally agree with this. I expect the CEO's of solar installation companies like the ones we are acquiring are very concerned about the landscape changing over the next 12-24 months as incentives scale down. I bet JN has a sales pitch he has honed which will help bring on even more companies under his umbrella in the very near future. To me it seems like a perfect time to find acquisitions. And yes I too will be very happy with any amount of pps gain today regardless of how little it might seem for the news we just got. I am also not counting on Fresno to happen due to the politics and individual council members comments that can easily keep this from happening on the 20th or if ever.
Long $LTD
Acquisition Strengthens Solar3D’s Strategic Position in Northern California
SANTA BARBARA, CA – August 12, 2015 - Solar3D, Inc. (SLTD), a provider of solar power solutions and the developer of a proprietary high efficiency solar cell, announced today that it has signed a definitive agreement to acquire 100% of Elite Solar, a Durham, California-based solar systems provider. The purchase is a continuation of Solar3D's aggressive growth-by-acquisition strategy, which is intended to boost the company's top line revenue as well as operating earnings.
Elite Solar designs and installs photovoltaic systems for residential, commercial, agricultural and municipal customers. The company is led by CEO Kirk Short, a solar power industry veteran with more than 15 years of experience in every facet of solar design and construction, on projects ranging from residential to large scale commercial and agricultural solar solutions.
Elite Solar is operating profitably and has experienced a breakthrough year. Revenue for 2015 is expected to approach $20 million, an increase of approximately 140% over the 2014 figure. Elite Solar also expects EBITDA (earnings before interest, taxes, depreciation, and amortization) to be approximately $2.2 million in 2015. Solar3D will pay $7.15 million for the company, with $2.5 million to be paid in cash and $4.65 million in common stock. The purchase agreement calls for additional consideration should certain sales and EBITDA milestones are met. The total purchase price, including earnouts, is intended to slightly over four times the trailing 12-month EBITDA for 2015. Following the acquisition, Elite Solar will continue to operate as a wholly owned subsidiary of Solar3D—and work closely with Solar3D’s SUNworks division.
“We are thrilled to enter into this agreement with Elite Solar, a company known for its commitment to excellence and its strong leadership, which has led to the company’s tremendous sales growth,” said Jim Nelson, CEO of Solar3D. “This purchase is consistent with our plan to acquire profitable companies that give us a competitive advantage in the high-growth solar landscape. By combining Elite Solar’s experience and reach with Solar3D’s proven execution, we are significantly expanding the scale of our solar energy platform to become a leader in California’s commercial solar industry, especially within the fast growing agricultural sector. Our entire leadership team at Solar3D looks forward to working with CEO Kirk Short and his team, to enhance our company’s growth and increase the value for our shareholders.”
“The opportunity to join efforts with Solar3D and its subsidiaries provides the Elite Solar team with the opportunity and resources to drive our business even more aggressively,” said Kirk Short, CEO of Elite Solar. “We believe our expertise perfectly complements their existing leadership and solar services, and we think we will be a tremendous asset to their growth moving forward.”
The closing of the Elite Solar acquisition, as described in the definitive purchase agreement, is subject to Solar3D's satisfactory review of the operations, financial (including an audit) and corporate records of Elite Solar. The transaction is expected to close on or before November 1, 2015.
http://www.elitesolarca.com/
nvrmnd
Ok remember the phone call I got back after the email last Friday? I was told me JN has a goal of $200M within a few years if he can acquire the right companies in his business model and then we could be a target for another larger company to snatch up. Any way you slice it JN and his team are in this whole heartedly for shareholder enrichment! JN is a great business person and I believe he has chosen this venture to be the one he can hang up his hat on when the time comes down the road. I will continue to follow his wisdom as he has done right by me so far.
We are hiring a professional sales person to focus on the cell 24/7
He just said they are still working to commercialize the cell! Did you not catch that?
I think he has slapped Sandridge adequately!
This is just a reminder:
Solar3D will be holding a financial results call today after the close, at 4:30PM ET please see dial in information. The call was orignially announced in a press release and newsletter sent out on July 22, 2015.
http://finance.yahoo.com/news/solar3d-announces-preliminary-second-quarter-132848948.html
Management anticipates a net loss of less than $250,000
Proof that this stock does what it wants when it wants and this lack of support today is certainly not what most would have expected. So word to the wise "Expect the unexpected"
We are in the top 10 premarket movers currently and FSLR is way up as well. This should be a very exciting day for sure! Buckle up
Follow Johny1234 as he is the only one here on this board that you can trust and he is offering you advise already on what to do. Cheers
It will be interesting to see if the new Clean Air Act initiative Obama is pushing will stimulate the solar investments. Seems like the right thing to do but the states will likely push back hard to fight it. Seems a bit over reaching unless other countries were in agreement and helping to reduce their carbon emissions as well.
Why did Pilot put ALL his eggs in the SLTD basket?
Make no mistake I was told there will not be another blunder on the 20th and they will also ask if they are allowed to hold his hand.
Which stock? So far have seen nothing from you worth marking. Just saying...
Last Thursday you said "We will be lucky to hit $4.50 again after earnings"
Alex
I think this will very much help on the 20th and our PPS should be back over $4 very soon.
Not going to repeat what was said other than they had same reaction as we did and the 20th will not be a repeat. They truly care about the investors and know that if they keep doing the right things investors will seek them out. The process in place takes time and investors need to have some patience. Nothing further on cell until patents are in place. Cell is not the focus for growth at the moment. CC on the 6th will likely expand on some of this if questions are allowed.
Wow my email already got a reply and a phone call. Do not underestimate JN and his team. We never know all the reasons why things happen the way they do. Stay Calm everyone
After reading his bio I think I will rewrite it and have it prepared to send to him on the 21st if necessary which should save him some time in making sure it is up to date and accurate so as not to mislead others about his skill-set or lack thereof.
His twin brother