iSun Inc. Wins Two More New Solar Contracts Valued at $6 Million in Northern New England

Rhea-AI Summary

iSun (NASDAQ: ISUN) has secured two new contracts worth nearly $6 million for community solar projects in Northern New England. The first project has a capacity of 4.07 MW valued at approximately $4.4 million, while the second is 1.4 MW valued at around $1.5 million. These latest awards contribute to a total exceeding $20 million in recent contracts, representing nearly 25 MW in the region. Both projects are expected to be completed in 2023, reinforcing iSun's commitment to advancing renewable energy solutions.

Positive

• Recent contract awards exceed $20 million for renewable projects.
• Contracts include a 4.07 MW project valued at $4.4 million and a 1.4 MW project worth $1.5 million.
• Projects contribute to iSun's strong market presence in Northern New England.
• Both projects expected to complete in 2023, enhancing the company's project pipeline.

Negative

• None.

New Community Wins Latest in More Than $20 Million in Recent Solar Contract Awards

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 two new contracts valued at nearly $6 million combined to implement renewable energy solutions for community solar projects in Northern New England.

HIGHLIGHTS:

• The first project award is for 4.07 MW and has a value of approximately $4.4 million
• The second award of 1.4 MW is valued at approximately $1.5 million
• These two new contracts bring recent awards to more than $20 million and a total of nearly 25 MW in Northern New England
• Both projects are underway and expected to be completed in 2023

“We’re very pleased with our recent contract awards in two more communities as we assist more residents across northern New England in implementing alternative energy solutions,” said Jeffrey Peck, Chairman and Chief Executive Officer of iSun. “These awards, combined with our other recently announced wins, secure more than $20 million in contracts for iSun throughout New England as we show continued success in cultivating long-term customer relationships. 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/20230117005401/en/

For more information contact:

iSun Investor Relations

IR@isunenergy.com

Source: iSun, Inc.

FAQ

What are the recent contract awards by iSun (ISUN)?

iSun was awarded two contracts for community solar projects totaling nearly $6 million.

How much total contract value has iSun secured recently?

iSun has secured over $20 million in recent contract awards.

What is the capacity of the new solar projects by iSun?

The new projects have a capacity of 4.07 MW and 1.4 MW.

When are the new projects by iSun expected to be completed?

Both projects are expected to be completed in 2023.

Where are the new solar projects by iSun located?

The projects are located in Northern New England.