iSun Inc. Wins $5.9 Million in New Solar Projects

Rhea-AI Summary

iSun, a solar energy firm, has secured contracts valued at $5.9 million to enhance solar energy solutions at commercial sites in Vermont. This agreement will add 6.5 MW to its project portfolio, showcasing iSun's capacity to forge enduring customer relationships. The projects, set to be completed this year, reflect a growing demand for solar energy and affirm iSun's commitment to clean energy transition. CEO Jeffrey Peck emphasizes the importance of sustainable energy for future generations, highlighting the company’s strategic positioning for ongoing growth in New England.

Positive

• Secured contracts worth $5.9 million indicating strong demand for solar solutions.
• Adding 6.5 MW to its commercial project portfolio.
• Projects awarded by existing customers, reflecting strong customer relationships.
• Projects expected to be completed within the year.

Negative

• None.

New Awards Demonstrate Commercial Growth and Customer Confidence

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 contracts with combined value of $5.9 million to implement solar energy solutions for commercial properties with existing customers in Vermont.

HIGHLIGHTS:

• New projects add 6.5 MW to iSun’s growing portfolio of commercial projects
• Combined $5.9 million in new contracts underscores iSun’s ability to develop commercial projects that advance the implementation of solar energy
• New projects awarded by existing customers demonstrate iSun’s success in building long-term customer relationships
• Projects are underway and expected to be completed this year

“We are delighted to expand our work with existing customers to implement important new solar projects at commercial properties in Vermont,” said Jeffrey Peck, Chairman and Chief Executive Officer of iSun. “Our team is responding well to the heightened customer demand for solar energy across our markets, and finding continued success in cultivating long-term customer relationships for iSun. While we have a growing backlog of solar projects being implemented across New England, we are confident that our operational teams will effectively manage the labor utilization demands these projects present. The transition to clean energy remains the most important initiative of our generation and we are proud to assist more customers throughout our markets 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/20230120005027/en/

For more information contact:

iSun Investor Relations

IR@isunenergy.com

Source: iSun Inc.

FAQ

What contracts did iSun secure recently?

iSun secured contracts worth $5.9 million to implement solar energy solutions at commercial properties in Vermont.

How much power will the new iSun projects generate?

The new projects will add 6.5 MW to iSun's growing portfolio of commercial projects.

Who is the CEO of iSun?

The CEO of iSun is Jeffrey Peck.

When are the new iSun projects expected to be completed?

The new projects are expected to be completed this year.

How do new contracts impact iSun's customer relationships?

The contracts awarded by existing customers demonstrate iSun's success in building long-term customer relationships.