iSUN Inc. Announces Multiple Project Awards in Vermont

Rhea-AI Summary

iSun, Inc. (NASDAQ: ISUN) has secured 11 contracts for Solar Engineering, Procurement, and Construction (EPC) services in Vermont, with an estimated value exceeding $7.2 million. This portfolio reinforces iSun's growth strategy and highlights its legacy of building sustainable customer relationships over the past 50 years. CEO Jeffrey Peck stated that these awards reflect the company's established reputation in the region and the increasing demand for clean energy solutions. iSun aims to continue leveraging its experience as demand for renewable energy grows.

Positive

• Secured 11 projects for Solar EPC services valued at over $7.2 million.
• Strengthens presence in core markets, particularly Vermont.
• Demonstrates successful execution of organic growth strategy.

Negative

• None.

Execution of an estimated $7.2m in new contracts with long-term partners strengthen iSun’s presence within its core markets.

BURLINGTON, Vt.--(BUSINESS WIRE)-- iSun, Inc. (NASDAQ: ISUN) (the “Company”, or “iSun”), a leading solar energy and clean mobility infrastructure company with 50-years of construction experience in solar, electrical and data services, today announced that it has been awarded 11 projects for Solar Engineering, Procurement and Construction (“EPC”) services in its home state of Vermont. iSun estimates that the portfolio will have a combined contract value exceeding $7 million.

HIGHLIGHTS:

• Portfolio award signifies iSun’s successful execution of its organic growth strategy identified in its recent investor presentation.
• $7.2 million portfolio further strengthens iSun’s base.
• Awards illustrate iSun’s 50-year legacy, experience building sustainable, long-term customer relationships.

“We’re always excited to communicate progress towards our three-pronged strategy for growth to our investors,” said Jeffrey Peck, Chairman and Chief Executive Officer of iSun. “We’re particularly proud when such news happens in our own backyard. Again, since first announcing this strategy in late 2019, we’ve maintained that our relationships and reputation within regions where we’re more established will provide springboards for continued growth opportunities. These Vermont contracts are proof of exactly that.”

“Earlier this week, we re-iterated our approach to value creation,” continued Peck. “Now more than ever, large-scale solar project developers are looking for EPC contractors they can trust to get the job done as promised, on-time, and on-budget in this challenging operating environment. These awards reflect how our work over the last 50 years has cultivated such trust, particularly within our home territory. One award in particular is the latest in dozens of such projects we’ve executed for this partner over the course of a decade-long relationship – a remarkable feat, given the relative infancy of our industry.”

“With demand for clean, renewable energy steadily increasing, we expect this trend to continue throughout the balance of 2021 and beyond. iSun is optimally positioned to capitalize on this trend, and stands ready to assist customers both old and new,” concluded Peck.

About iSun Inc.

Since 1972, iSun has accelerated the adoption of proven, life-improving innovations in electrification technology. iSun has been the trusted electrical contractor to Fortune 500 companies for decades and has installed clean rooms, fiber optic cables, flight simulators, and over 400 megawatts of solar systems. The Company has provided solar EPC services across residential, commercial & industrial, and utility scale projects and provides solar electric vehicle charging solutions for both grid-tied and battery backed solar EV charging systems. iSun believes that the transition to clean, renewable solar energy is the most important investment to make today and is focused on profitable growth opportunities. Please visit www.isunenergy.com for additional information.

Forward Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.

The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.

All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210826005423/en/

IR Contact:

Tyler Barnes

IR@isunenergy.com

802-289-8141

Source: iSun, Inc.

FAQ

What is the value of the contracts awarded to iSun?

iSun has been awarded contracts valued at over $7.2 million.

How many projects has iSun secured in Vermont?

iSun has secured 11 projects for Solar EPC services in Vermont.

What is the stock symbol for iSun?

The stock symbol for iSun is ISUN.

When did iSun announce the new contracts?

iSun announced the new contracts in a press release dated August 26, 2021.

What is iSun's strategy for growth?

iSun's growth strategy focuses on leveraging established relationships and reputation in core markets.