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More Sunworks news:
http://www.businesswire.com/news/home/20170621006399/en/
Sunworks Co-Hosted 2017 Almond Board Leadership Program at Chamisal Creek Ranch
“Solar Day at the Almond Orchard” is first of its kind, co-hosted with family-owned almond grower to focus on mentoring and cultivating future industry leaders
Sunworks, Inc. (NASDAQ:SUNW), a leading provider of solar power solutions for agriculture, commercial, industrial (ACI), and residential markets, co-hosted the first “Solar Day at the Almond Orchard” event, a highly immersive experience in sustainable almond farming for enthusiastic, next generation leaders in the industry. The event, held at Chamisal Creek Ranch, was a first of its kind for the Almond Board of California Leadership Program.
“Solar Day at the Almond Orchard” was part of a year-long mentoring and immersion program for individuals involved in the California almond industry. The program includes over 100 hours of seminars and cooperative events on leadership training, communication strategies, networking, and educational assignments. Veteran almond industry volunteers teach and interact with the participants, instilling a set of responsibilities that are critical to the future of almond growing.
The program cultivates young agricultural leaders who are considered the industry’s best and brightest. They represent nearly every aspect of almond farming, from growers to retailers. Participants receive hands-on training in food safety, biomass utilization, honey extraction, and nutrition research. In recent years, these projects have led to important breakthroughs for almond growing, resulting in the development of revolutionary, sustainable methods that have made a direct impact on today’s almond farmers.
Chamisal Creek Ranch, a Blue Diamond Grower and current Sunworks customer, has a legacy built on environmental stewardship, proper plant health, and sustainable business operations across its 700-acre operation. Sunworks and Chamisal Creek Ranch seek to encourage sustainable almond growing practices and mentor the industry’s next generation of leaders. Sunworks has years of experience in agriculture-optimized solar technology, working with growers and processors across California to build sustainable energy initiatives that help them achieve low-cost electrical usage.
Mike Doherty, owner of Chamisal Creek, said, “Sustainability is a core commitment and key philosophy that inspires our family-owned, 40 year ranch to strive for environmental excellence. Sustainability is about ensuring that people, profit, and the environment are all considered while conducting daily business.”
Rita Edwards, Director of Marketing for Sunworks and a member of the Almond Growers Leadership Board, said, “We are extremely pleased to have co-hosted the Almond Board Leadership Program with Chamisal Creek Ranch. We are committed to establishing long term relationships with almond growers and to integrating solar power to enhance the efficiency of almond farming methods.”
About Sunworks
Founded in 1983, Sunworks, Inc. is a premier provider of solar power solutions. We’re committed to quality business practices that exceed industry standards and uphold our ideals of ethics and safety.
Today, Sunworks continues to grow its presence, expanding nationally with regional and local offices. We strive to consistently deliver high quality, performance oriented solutions for customers in a wide range of industries including agriculture, commercial and industrial, federal, public works, utility, and residential. Our dedication to excellence is reflected in our 25-year warranty, a benchmark that we standby to support our customers above and beyond their expectations.
Sunworks’ diverse, seasoned workforce includes distinguished veterans who are devoted to providing the very best customer experience. All of our employees uphold our company’s guiding principles each day. Sunworks is a member of the Solar Energy Industries Association (SEIA) and is a proud advocate for the advancement of solar power.
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.
Contacts
Sunworks, Inc.
Rita Edwards, 916-409-6900
Director of Marketing
redwards@sunworksusa.com
Possibly linked to "Hardcore Construction Inc." - as a General Engineering Contractor - though you would expect Dru (as President) to have the same/more unless this is outdated info or Ed purchased independently of his position at the company:
http://hardcoreconstructioninc.com/staff/
Dru Wolf
President
530.330.0809 / mobile
Ed Wasson
Vice President
530.913.5918 / mobile
Aaron Walker
Officer
530.870.3231 / mobile
Jeff Jones
Officer
530.330.0808 / mobile
http://hardcoreconstructioninc.com/
Nevada governor to sign net metering revival bill tomorrow . . .
https://pv-magazine-usa.com/2017/06/14/nevada-governor-to-sign-net-metering-revival-bill-tomorrow/
Head to Head Contrast: Sunworks (SUNW) vs. Vivint Solar (VSLR):
https://www.americanbankingnews.com/2017/06/12/head-to-head-contrast-sunworks-sunw-vs-vivint-solar-vslr.html
What's going on in Atlanta? Thanks!
Good catch - looks like the updated the Management Team page and Board of Directors content (under Investor Relations) but not the Leadership page (under Company)
The Sunworks website has been updated to reflect the new CEO (Charles F. Cargile):
https://ir.sunworksusa.com/management-team/
For any newbies to the stock - it's been posted before - but here is a link to the most recent Investors Presentation:
https://ir.sunworksusa.com/event/presentation/
Yes - I believe that you are correct - that's what I remember as well.
Jim already was the Chairman of the Board before stepping down as CEO
According to the most recent conference call - regarding Q2 revenue and whether or not it will be on par with Q2-2016:
No - they are included in the $86 million in revenue for Sunworks in 2016 -
I didn't forget . . .
They did 10x that revenue in 2016!
Relaying this from a private conversation - thanks!
1.) The company didn't just "all of a sudden" say they are abandoning the cell- the said explicitly in the conference call back in:
Q1-16 CC:
https://seekingalpha.com/article/3974214-sunworks-sunw-ceo-jim-nelson-q1-2016-results-earnings-call-transcript?part=single
"While our primary focus continues to be on integration our legacy solar 3D technology still remains part of our company, securing a manufacturer who can help commercialize this technology and assist it in bringing it to market has taken longer and proven to be more challenging than we expected. Still our outlook for commercialization remains optimistic, but at this stage next step are contingent upon securing a partner as we have announced in the past. Our primary focus remains on our solutions business while the commercial, agricultural segment is expanding and the residential segment enjoys conditions that are conducive to considerable growth and we continue to identify and take advantage of this internal organic opportunity."
Pretty clear here what the focus is... and isn't.
Q4-15:
https://seekingalpha.com/article/3958955-sunworks-sunw-ceo-jim-nelson-q4-2015-results-earnings-call-transcript?part=single
"Jim Nelson
Not shelved. We are not investing substantial additional R&D dollars and making it better. We really recognize that we have taken it to the point where we really need a manufacturing partner. We’re still talking to people about it, actually. We’re more encouraged today than we have been at any time in the last year, I would say. Last six months or so. There’s real opportunity there, we believe.
That said, look, we have a business that’s growing at over 100% a year, that’s profitable, it’ll continue to do that, and so that’s got to be the focus; that’s got to be the focus of our management. If we can commercialize the solar cell, awesome. And we’re going to try to do that, and we think we can, and that will add another revenue stream. But, we’re really happy with the way the business is going, and we know where our management needs to focus.
"
Umm- even before that:
Q3-15:
Analyst Jeff Osborne Knew:
"Jeff Osborne
Got it and just a couple other and then pick one here. The R&D took a big step down; was there any material changes in your cell development or licensing strategy? I know it's not really the focus of the company but just the drop - I wasn't sure if you there has been change.
"
Nelson: "So we're not really working on technical elements because we have a clear next step that requires our manufacturing partner."
"Tracy Welch
Sure. [Indiscernible]. So I'll talk a little bit about our growth engine that's important for us to provide some transparency into our metrics and what the power for our growth engine is. There are really three key themes that we're focused on for building long-term shareholder value.
First, is to generate a steadily growing cash flow stream through both our SUNworks and MD Energy operating divisions which we have continued to do so on a consistent basis. Second, is to invest in our infrastructure to build the necessary management and back office teams to handle our organic growth and to facilitate interesting acquisition candidates quickly and to capture their operating and financial inefficiencies. Third, our strong management team is led by experienced industry veterans with extensive knowledge in energy, construction, clean-tech, finance and marketing strategy. Our executives and our division leaders have held high level positions in top organizations and their involvement has included the expansion of multi-million dollar companies, paid in excess to billions in capital to run their own successful companies and have contributed to the energy industry.
"
One last time - if they hadn't made it clear previously - the company very clearly communicated the demise of the cell in the latest 10K for 2016
This isn't the first time that the company has said that the emphasis of the company going forward will be installs vs. further developing the cell.
That was stated emphatically many times. Yes there was some talk of still reaching out to manufactures from time-to-time but so what.
The reference from the Annual report couldn't be clearer and should put an end to the discussion once and for all. Statements that the company has never communicated the demise of the cell are not based in reality.
Like it or not - the move away from the cell to installations has kept this stock from being pure speculation and has been good for longs who originally invested only because of the potential of the cell.
A little more background - first Solar City bought Silevo: http://www.solarcity.com/newsroom/press/solarcity-acquire-silevo
And then they partnered with Panasonic: https://www.greentechmedia.com/articles/read/Is-SolarCity-Abandoning-Silevos-High-Efficiency-PV-Technology
There is no sure thing when it comes to manufacturing in a commodity business like solar panels have become . . .
As for SunWorks - regardless of whether or not the cell works as promoted - their intent all along was licensing to existing manufacturers. The rejection of the U.S. patent and the low (or negative) margins for manufacturers producing modules makes it tough to generate any interest. In case you missed it, Sunworks made this point very clear in the 2016 Annual report released a month or two ago:
Uh - no . . .
$48 million backlog (end of Q4) + $25 million new sales (Q1) - $14 million revenue (Q1) = $59 million current backlog
The new sales model is just ramping up and in Q1:
It's odd too that today's PR dropped "California" after the reference to the project in "Buttonwillow".
This morning I had to google Buttonwillow to find out where it even was located . . . so in that sense the original PR actually was clearer.
Keep talking guys, it's going up . . .
The new guy isn't responsible for anything that happened in 2016 which is what the conference call covered.
EDIT: It's unclear if he even is responsible for anything that happens in Q1 2017 either since his appointment only came today just two days shy of EOQ. However, I would expect him to represent the company on the next call, in mid-May, as the acting CEO.
Mikhail Podnesbesnyy - Director of Engineering
Mr. Mikhail Podnesbesnyy was formerly the Vice President of Solar United Networks (dba SUNworks) since February 2011. From 2001 until joining SUNworks, he worked for Emard Electric, Inc. in various capacities, including photovoltaic design from 2009 to 2011, pre-fabrication manager from 2007 to 2009, job foreman from 2002 to 2007, and journeyman electrician from 2001 to 2002. Mr. Podnesbesnyy’s diligent work with the SUNworks Design and Engineering teams was instrumental in earning the Company lucrative project contracts that compounded its growth in 2015. Mr. Podnesbesnyy presently serves as Director of Engineering at Sunworks, where he will continue to push the boundaries of design and function, providing customers with highly efficient performing solar solutions. Mr. Podnesbesnyy is a certified journeyman electrician and has received WECA certified photovoltaic.
https://ir.sunworksusa.com/management-team/
No wonder the PPS tanked this week - a reminder for anyone unloading shares not to place a market order - haha - just kidding here
Good luck & don't be a stranger!
Out of context - Jim simply was stressing why they focus so much on having a superior reputation relative to their competitors.
There are plenty of things to criticize today but that is reaching and just confirms a subversive agenda . . .
Also, the one company that didn't grow at an acceptable rate post-acquisition was MD Energy - and the former owner no longer is employed by SunWorks - coincidence?
http://ir.sunworksusa.com/wp-content/uploads/2016/12/SUNW-December-2016-Roadshow-presentation-_FINAL_B.pdf?#Page=16
Based upon some past history - guessing we get a conference call date communicated this Thursday, March 2nd, with actual CC being either March 15th or 16th . . .
Feb. 7th CC Q&A session continued: https://fccdl.in/b0lcv21IV
Apologies if this was posted previously - I haven't read all of the past posts . . .
Edit:
The annual report is due within 90-days of the end of Q4 - so it will be due ~ March 30th.
However, in past years the report was released by mid-March.
If there is good news in terms of revenue and profit then they may even want to release it earlier . . .
SUNW is doing a lot better than POETF or ASTI:
https://tinyurl.com/z7g5p4c
The original longs will remember this scanning electron microscope image of the 3D solar cell - see article here ( http://greenlivingideas.com/2013/01/28/solar-3d-successfully-fabricates-prototype/ ) :
I was always fond of this edited version of the picture (credit unknown):
Think about this picture as you enjoy the upcoming weekend . . .
That's a decent post - brief - simple opinions which I may or may not agree with . . .
But, post the same thing another couple of times and it will not make the point any stronger - unless it happens to catch someone's attention who never saw it the first time.
Post the same thing a couple of dozen times more though and then it enters the domain of truly annoying - which is where most of the other topics end up
DOE SunShot Initiative Reaches $1 Per Watt Goal Three Years Early
by Leon Kaye on Friday, Jan 27th, 2017
Image credit: U.S. Navy/Flickr
Lost in all the news over the silencing of scientists and the rogue Twitter accounts emerging as one form of protest against incoming President Donald Trump is a success story that can be traced back to the previous administration.
The cost of utility-scale solar power has plunged to the Obama administration’s $1 per watt goal — and three years early at that.
Now, a 2011 initiative that was once seen as more aspirational than realistic has the potential to transform the nation’s energy portfolio, Eric Wesoff of Green Tech Media inferred this week.
Many publications and financial analysts predicted the $1-a-watt magic metric was approaching “soon.” That “soon,” however, is today.
According to the Department of Energy, the SunShot initiative is largely the reason for the growth of solar across the United States. Five years ago, solar power contributed less than 0.10 percent, or 1.2 gigawatts, to the country’s electricity supply.
Five years later, solar still comprises a small part of the nation’s energy portfolio. But its growth has been exponential: More than 30 gigawatts, or over 1 percent of the nation’s power generation, now comes from solar.
Back in 2011, utility solar in America cost a little over $4 per watt on average. In February of that year, former Energy Secretary Steven Chu announced the SunShot initiative, which aimed to reduce the total costs of photovoltaic systems by 75 percent, to $1 per watt (about 6 cents per kilowatt hour) by 2020.
The program had four pillars:
* Improve the efficiency of solar cells
* Optimize electronics that would improve solar systems’ performance
* Boost the efficiency of solar manufacturing processes
* Streamline the installation, design and permitting processes nationwide
It also included grants and loans to incentivize solar companies to improve the efficiency of their products and supply chains.
Critics derided the program as a farce, and often pointed to the Solyndra bankruptcy as evidence of a failed program. Meanwhile, China’s investments in solar technology led to a collapse in prices for solar panels and other equipment, often at the expense of American and German companies. Indeed, it was those cheap prices that has contributed to the solar boom in the U.S. and worldwide.
But the DOE’s efforts cannot be overlooked, despite some of the hurdles along the way. In hindsight, the Solyndra fiasco was more of a hiccup than a symptom of endemic failure in U.S. energy policy.
As Bloomberg noted in November, the federal energy loan program responsible for Solyndra (which started during the George W. Bush administration) ended up being a profitable venture for the U.S. government — generating at least $1.65 billion in interest payments to date.
While the future of energy policy is uncertain, for now the Department of Energy keeps pressing ahead.
Last last year, it announced the SunShot initiative set new sights on solar affordability: Aiming to halve the average cost of utility-scale solar power to 3 cents per kilowatt-hour by 2030.
Under this new program, commercial photovoltaic power has a target of 4 cents per kWh; residential solar would decline to 5 cents per kWh. Judging by the program’s track record, such a target is hardly outlandish.
And with or without the Trump administration’s support, or specifically buy-in from new Energy Secretary Rick Perry, the private sector will continue to boost solar power’s efficiency while further lowering its price.
As Green Tech Media’s report points out, there are still costs that can be saved by improvements in labor, engineering, procurement and construction. Furthermore, as MIT Technology Review reminds us, that watt-per-hour metric is what engineering firms would bid to build a solar installation for a utility – but there are other costs, such as software, transmission lines, and the fact that energy storage technology is not yet at the point to let these systems deliver power 24/17.
But Chu’s initiative provided the much-needed spark: The goal, after all, was to make solar cost-effective enough so that it no longer needed subsidies to scale.
So Chu, who is now at Stanford University, can look back and know that he was probably the most successful, and consequential, energy secretary since the department was established in the 1970s.
For decades the DOE was an afterthought, as it was cobbled together by Jimmy Carter as a means to consolidate various energy agencies in a reaction to that decade’s volatile oil prices. Now, the department is a catalyst of innovation and economic development — and a revenue generator.
While the current regime is hell-bent on removing any of Barack Obama’s fingerprints from the federal government, the new administration would be wise to look at the results and keep their hands off this program.
There is no definitive proof one way or another whether the contact was terminated, continued through the estimated time frame, or completed with more work extended . . .
To claim that any one of those possible outcomes is a certainty without actual facts is meaningless
It's a moot point now - the contract was only announced to run an estimated 12 weeks from July through October of 2016 . . .