iSun Inc. Wins $2.4 Million New Solar Contract in Maine

Rhea-AI Summary

iSun, Inc. (NASDAQ: ISUN) has secured a $2.4 million contract for solar energy solutions in Wilton, Maine, expanding its portfolio by 4.0 MW to a total of 16.1 MW. This award underscores iSun’s leadership in solar implementation as Maine approaches its Renewable Portfolio Standard goals through 2026. CEO Jeffrey Peck highlighted strong customer demand for solar energy and the company's commitment to aiding communities in transitioning to clean energy.

Positive

• New contract worth $2.4 million enhances iSun's solar project portfolio.
• Expansion of construction-ready projects to 16.1 MW in Maine demonstrates significant market growth.

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• None.

New Award Builds Upon iSun’s Momentum in Maine Energy Market

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 announced that it was awarded a $2.4 million contract to implement solar energy solutions in Wilton, Maine.

HIGHLIGHTS:

• New award of 4.0 MW will add to iSun’s construction ready portfolio of 16.1 MW of projects in Maine
• $2.4 new contract highlights iSun’s continued leadership in advancing the implementation of solar energy

“We are very pleased by our continued growth in the Maine market as the State tracks to meet its near-term Renewable Portfolio Standard requirements through 2026,” said Jeffrey Peck, Chairman and Chief Executive Officer of iSun. “This demonstrates the continued strong customer demand for solar energy in our markets, and the success of our team in expanding our footprint in key states. The transition to clean energy remains the most important initiative of our generation and we are proud to assist more communities in achieving alternative energy solutions.”

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/20221208005227/en/

iSun Investor Relations

IR@isunenergy.com

Source: iSun, Inc.

FAQ

What is the recent contract awarded to iSun worth?

iSun was awarded a $2.4 million contract for solar energy solutions.

How much will iSun's construction-ready portfolio grow with the new contract?

The new contract will add 4.0 MW to iSun's existing portfolio, bringing it to a total of 16.1 MW.

What does the new award signify for iSun in the Maine market?

The award highlights iSun's continued leadership and strong customer demand for solar energy in Maine.

How is iSun contributing to Maine's renewable energy goals?

iSun's projects will support Maine in meeting its Renewable Portfolio Standard requirements through 2026.