iSun Energy Announces $2.2 Million Contract for Solar EV Charging and Energy Infrastructure with Meriden Housing Authority
iSun, Inc. (NASDAQ: ISUN) announces its selection to provide solar EV technologies for the Meriden Housing Authority in Bristol, CT, through a competitive bid. This project will supply sufficient annual power for tenants' needs, enhancing iSun’s impact and revenue strategy. The $2.2 million contract leverages multiple high-margin offerings, including solar carports and energy-as-a-service, reinforcing iSun's commitment to sustainable innovations. The CEO emphasizes strategic growth through acquisitions, while the Meriden Housing Authority lauds the project’s potential for tenant experience and renewable energy accessibility.
- Secured a $2.2 million contract with the Meriden Housing Authority, enhancing revenue stream.
- The project combines high-margin offerings, including solar carports and EV charging, promising sustainable growth.
- Aligns with iSun's triple ROI approach of impact, intention, and investment in community housing.
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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.
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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
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.”
About iSun, Inc.
Headquartered in South Burlington, VT, iSun, Inc. (NASDAQ: ISUN) is a business rooted in values that align people, purpose, innovation and sustainability. Ranked by Solar Power World as one of the leading commercial solar contractors in the Northeastern United States, iSun provides energy services, smart city innovations and clean mobility infrastructure to customers for projects from smart solar mobile phone and electric vehicle charging, up to multi-megawatt renewable energy solutions. iSun’s innovations were recognized by the Solar Impulse Foundation of Bertrand Piccard as one the globe’s Top 1000 Sustainability Solutions. As a winner, this award will result in the iSun solution being presented to hundreds of government entities around the world, including various municipal, state and federal agencies in the United States. Since entering the renewable energy market in 2012, iSun has installed over 200 megawatts of rooftop, ground mount and EV carport solar systems (equal to power required for 38,000 homes). We continue to focus on profitable growth opportunities. For more information, visit www.isunenergy.com
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about (i) the benefits of the proposed acquisition, including future financial and operating results, cost savings and synergies, effects on cash flow, market accessibility, financing opportunities, enhancements to revenue and accretion to reported earnings that may be realized from the proposed acquisition; (ii) iSun’s plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts; and (iii) other statements identified by words such as “expects” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “targets,” “projects,” or words of similar meaning generally intended to identify forward-looking statements. These forward-looking statements are based upon the current beliefs and expectations of the respective management of iSun and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of iSun. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from the anticipated results discussed in these forward-looking statements because of possible uncertainties.
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