Pineapple Subsidiary SUNation Announces Strategic Partnership With Radial Power to Expand Renewable Energy Solutions
SUNation, a subsidiary of Pineapple Energy Inc. (Nasdaq: PEGY), has announced a strategic partnership with Radial Power to expand renewable energy solutions. The collaboration aims to leverage both companies' expertise in delivering innovative renewable energy solutions, particularly in the commercial and industrial sector. This partnership represents SUNation's strategic expansion beyond its traditional New York market. Radial Power's CEO highlighted the opportunities created by the Investment Recovery Act and mentioned their internal pipeline of hundreds of megawatts, expressing confidence in SUNation's growth potential alongside their execution of these projects.
SUNation, una sussidiaria di Pineapple Energy Inc. (Nasdaq: PEGY), ha annunciato una partnership strategica con Radial Power per espandere le soluzioni di energia rinnovabile. La collaborazione mira a sfruttare l'esperienza di entrambe le aziende nella fornitura di soluzioni innovative di energia rinnovabile, in particolare nel settore commerciale e industriale. Questa partnership rappresenta un'espansione strategica di SUNation oltre il suo tradizionale mercato di New York. Il CEO di Radial Power ha sottolineato le opportunità create dal Investment Recovery Act e ha menzionato il loro portfolio interno di centinaia di megawatt, esprimendo fiducia nel potenziale di crescita di SUNation insieme all'esecuzione di questi progetti.
SUNation, una subsidiaria de Pineapple Energy Inc. (Nasdaq: PEGY), ha anunciado una asociación estratégica con Radial Power para expandir soluciones de energía renovable. La colaboración tiene como objetivo aprovechar la experiencia de ambas compañías en la entrega de soluciones innovadoras de energía renovable, particularmente en los sectores comercial e industrial. Esta asociación representa la expansión estratégica de SUNation más allá de su mercado tradicional en Nueva York. El CEO de Radial Power destacó las oportunidades creadas por la Ley de Recuperación de Inversiones y mencionó su cartera interna de cientos de megavatios, expresando confianza en el potencial de crecimiento de SUNation junto a la ejecución de estos proyectos.
SUNation은 Pineapple Energy Inc. (Nasdaq: PEGY)의 자회사로, Radial Power와 전략적 파트너십을 발표하여 재생 에너지 솔루션을 확장하였습니다. 이 협력은 두 회사의 혁신적인 재생 에너지 솔루션 제공 전문성을 활용하는 것을 목표로 하며, 특히 상업 및 산업 부문에서 주목받고 있습니다. 이 파트너십은 SUNation이 전통적인 뉴욕 시장을 넘어 전략적으로 확장하는 것을 의미합니다. Radial Power의 CEO는 투자 회수법에서 창출된 기회를 강조하고, 수백 메가와트의 내부 파이프라인을 언급하며 이러한 프로젝트 수행과 함께 SUNation의 성장 잠재력에 대한 신뢰를 표현했습니다.
SUNation, une filiale de Pineapple Energy Inc. (Nasdaq: PEGY), a annoncé un partenariat stratégique avec Radial Power pour étendre les solutions d'énergie renouvelable. La collaboration vise à tirer parti de l'expertise des deux entreprises dans la fourniture de solutions innovantes en matière d'énergie renouvelable, en particulier dans le secteur commercial et industriel. Ce partenariat représente l'expansion stratégique de SUNation au-delà de son marché traditionnel à New York. Le PDG de Radial Power a souligné les opportunités créées par la loi sur le recouvrement des investissements et a mentionné leur portefeuille interne de centaines de mégawatts, exprimant sa confiance dans le potentiel de croissance de SUNation en parallèle avec l'exécution de ces projets.
SUNation, eine Tochtergesellschaft von Pineapple Energy Inc. (Nasdaq: PEGY), hat eine strategische Partnerschaft mit Radial Power angekündigt, um erneuerbare Energielösungen auszubauen. Die Zusammenarbeit zielt darauf ab, das Fachwissen beider Unternehmen in der Bereitstellung innovativer erneuerbarer Energielösungen, insbesondere im gewerblichen und industriellen Sektor, zu nutzen. Diese Partnerschaft stellt eine strategische Expansion von SUNation über den traditionellen Markt in New York hinaus dar. Der CEO von Radial Power hob die durch das Investment Recovery Act geschaffenen Möglichkeiten hervor und erwähnte ihre interne Pipeline von Hunderten von Megawatt, wobei er Vertrauen in das Wachstumspotenzial von SUNation im Zusammenhang mit der Umsetzung dieser Projekte zum Ausdruck brachte.
- Strategic expansion beyond New York market, indicating geographical growth
- Access to Radial Power's pipeline of hundreds of megawatts in commercial projects
- Potential market opportunities from Investment Recovery Act
- None.
Insights
This strategic partnership signals a significant expansion opportunity for PEGY through its SUNation subsidiary. The collaboration with Radial Power opens doors to the lucrative commercial and industrial solar market, leveraging the Investment Recovery Act's incentives. The mention of "hundreds of megawatts" in Radial's pipeline suggests substantial revenue potential.
The geographic expansion beyond New York represents a important growth catalyst for SUNation. The C&I solar market typically yields higher margins and larger project sizes compared to residential installations. With Radial Power's established presence in Houston and expertise in commercial real estate, this partnership could significantly boost PEGY's market share and revenue streams.
RONKONKOMA, N.Y., Oct. 28, 2024 (GLOBE NEWSWIRE) -- SUNation, the New York-based subsidiary of Pineapple Energy Inc. (Nasdaq: PEGY) ("Pineapple" or the "Company"), a leading provider of sustainable solar energy, backup power solutions, and system servicing, today announced a strategic partnership with Houston, Texas-based Radial Power, a key player within distributed energy and a provider of sustainability solutions for commercial and industrial real estate asset owners.
This strategic partnership will harness the combined expertise of both companies to deliver innovative renewable energy solutions. It also marks a significant step in SUNation’s expansion beyond its traditional New York footprint, positioning the company for broader geographic growth.
"The commercial and industrial space is booming, largely driven by the opportunities created by the Investment Recovery Act. Our partnership with SUNation enables us to scale quickly and efficiently," said John Bates, CEO of Radial Power. “As SUNation has successfully completed many projects and with our internal pipeline in the hundreds of megawatts, we fully expect SUNation to grow alongside us as we execute on these projects."
About Pineapple Energy
Pineapple is focused on growing leading local and regional solar, storage, and energy services companies nationwide. Our vision is to power the energy transition through grass-roots growth of solar electricity paired with battery storage. Our portfolio of brands (SUNation, Hawaii Energy Connection, E-Gear) provide homeowners and businesses of all sizes with an end-to-end product offering spanning solar, battery storage, and grid services.
Forward Looking Statements
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Company’s current expectations or beliefs and are subject to uncertainty and changes in circumstances, including the Company’s expectations regarding its ability to effect the reverse stock split and regain compliance with Nasdaq’s continued listing standards. While the Company believes its plans, intentions, and expectations reflected in those forward-looking statements are reasonable, these plans, intentions, or expectations may not be achieved. For information about the factors that could cause such differences, please refer to the Company’s filings with the Securities and Exchange Commission, including, without limitation, the statements made under the heading “Risk Factors” in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and in subsequent filings. The Company does not undertake any obligation to update or revise these forward-looking statements for any reason, except as required by law.
Safe Harbor Statement
Our prospects here at Pineapple Energy Inc. are subject to uncertainties and risks. This news release (video statement) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. The Company intends that such forward-looking statements be subject to the safe harbor provided by the foregoing Sections. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this presentation. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. We caution readers not to place undue reliance upon any such forward-looking statements. The Company does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in the Company's filings with the SEC which can be found on the SEC's website at www.sec.gov.
Contacts:
Scott Maskin
Interim Chief Executive Officer
+1 (631) 823-7131
scott.maskin@pineappleenergy.com
Pineapple Investor Relations
+1 (952) 996-1674
IR@pineappleenergy.com
FAQ
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