iSun Inc. Continues Geographic Expansion into Maine

Rhea-AI Summary

iSun (NASDAQ: ISUN) announced three new contracts totaling $9.3 million and 12.1 MW of solar projects in Maine, enhancing their energy portfolio. This addition will build on their existing 18.4 MW of completed projects in the state. The contracts represent a significant step in iSun's mission to expand clean energy solutions and reinforce customer relationships, reflecting their commitment to combat climate change. CEO Jeffery Peck emphasized the importance of these contracts for both customer relations and revenue diversification.

Positive

• Secured contracts totaling $9.3 million, expanding revenue streams.
• 12.1 MW project award builds on existing 18.4 MW in Maine.
• Strengthens iSun’s customer relationships and geographic presence in clean energy.

Negative

• None.

Estimated 12.1 MWs and $9.3m in project awards with new customer

WILLISTON, Vt.--(BUSINESS WIRE)-- iSun, Inc. (NASDAQ: ISUN) (the "Company," or "iSun"), a leading solar energy and clean mobility infrastructure company with 50-years of experience accelerating the adoption of innovative electrical technologies, today announces execution of three contracts totaling $9.3 million and 12.1 MW in Maine establishing a relationship with a new customer.

HIGHLIGHTS:

• 12.1 MW Portfolio award will add to iSun’s already completed 18.4 MW of projects in the Maine market.
• $9.3 million in new contracts highlights iSun’s continued geographic expansion while developing new strategic customer relationships.
• Advances of iSun’s 50-year mission to combat climate change and accelerate the transition to clean energy.

“These awards are an important milestone for iSun, for several reasons,” said Jeffery Peck, Chairman and Chief Executive Officer of iSun. “For our customers, this growth reflects the progress we’ve been making to stabilize the labor market, continue our expert craftsmanship and deliver high quality solar assets. For our investors, we continue to expand our customer relationships to provide new revenue streams in execution of our goals. As we previously stated, the transition to clean energy is the most important initiative of our generation. We are proud to lead the transition in the accelerating Maine energy market.”

About iSun Inc.

Since 1972, iSun has accelerated the adoption of proven, life-improving innovations in electrification technology. iSun has been the trusted service provider to Fortune 500 companies for decades and has installed clean rooms, fiber optic cables, flight simulators, and over 600 megawatts of solar systems. The Company currently provides a comprehensive suite of solar services across residential, commercial, industrial & municipal, 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/20221004006085/en/

IR:

IR@isunenergy.com

Source: iSun, Inc.

FAQ

What are the new contracts announced by ISUN?

iSun announced three contracts totaling $9.3 million and 12.1 MW of solar projects in Maine.

How do the new contracts impact ISUN's operations?

The new contracts enhance ISUN's existing portfolio, which now includes a total of 30.5 MW of projects in Maine.

What is ISUN's vision in the clean energy sector?

iSun aims to lead the transition to clean energy and combat climate change through innovative solar solutions.

When was ISUN's press release regarding the new contracts published?

The press release was published on October 4, 2022.