iSun Energy Announces $2.2 Million Contract for Solar EV Charging and Energy Infrastructure with Meriden Housing Authority
iSun, Inc. (NASDAQ: ISUN) (“iSun”) is a leading solar industry innovator and commercial solar contractor providing energy services, smart city innovations and clean mobility infrastructure with solar electric vehicle (EV) charging, ground-mount and rooftop solar energy systems and electrical and data services. Today, iSun announces that it has been selected by competitive bid to provide its innovative solar EV carport, rooftop and ground-mount technologies to the Meriden Housing Authority for two locations in Bristol, CT.
Highlights
Immediately establishes the accretive value of the company’s first acquisition and name change from The Peck Company to iSun.
Provides renewable energy and clean mobility to former schools converted into low- and medium-income housing, which aligns with iSun’s triple ROI approach of impact, intention and investment.
Will produce sufficient annual power to provide 100% equivalent of the tenants’ power needs.
Combines multiple high-margin product and service offerings including solar power and EV charging, iSun Oasis Smart Solar Benches to enhance user experience, and energy-as-a-service for recurring revenue.
Jeffrey Peck, Chief Executive Officer of iSun, commented, “We have been diligently executing our growth plan including organic sales across all business units, accretive M&A and owning assets for recurring revenue. The recent acquisition and name change to iSun contribute to all parts of our plan simultaneously starting with this $2.2 million contract and its recurring revenue stream from the energy-as-a-service component. Consistent with our 50-year history serving the needs of our customers, our Chief Innovation and Experience officer, Sass Peress, worked with Robert Cappelletti at the Meriden Housing Authority to solve for the right combination of technologies to deliver maximum power, parking lot protective shading, and aesthetic benefits to meet their specific needs. iSun's portfolio of innovative products allows us to reach new customers with aligned goals. We are excited to serve Mr. Cappelletti, a true visionary with his agenda to 'build back better' neighborhoods. We expect to complete construction in Spring 2021,” said Mr. Peck.
Robert Cappelletti, Executive Director of Meriden Housing Authority, added, “We are pleased to have developed these projects with iSun. They effectively combined solar energy carports, flexible rooftop solar technologies and electric vehicle infrastructure, to create an enhanced experience for our tenants. Meriden Housing Authority is determined to create smart, renewable energy systems for the housing of our residents, so that all residents are able to access such technologies. We look forward to working on more projects with iSun in the future.”
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