Three Sixty Solar Reports on Tower Benefits and Durability

Rhea-AI Summary

Three Sixty Solar Ltd. (NEO: VSOL) (OTC: VSOLF) announced significant findings on the durability of its solar tower over a 16-month period. Key highlights include:

• Durability: Tower and panels remained intact.
• Weather Resiliency: No damage from storms with winds exceeding 120 km/hr.
• Snow Shedding: Vertical panel design effectively shed snow.
• Reduced Maintenance: No power loss due to soiling of panels after cleaning.

CEO Brian Roth emphasized the operational cost-saving benefits and durability under extreme Canadian weather conditions.

Positive

• Demonstrated durability and weather resilience, withstanding severe storms.
• Innovative snow shedding design that prevents accumulation.
• No maintenance-related power loss, indicating efficiency.

Negative

• None.

Distinct benefits inherent in tower design

VANCOUVER, British Columbia, March 02, 2023 (GLOBE NEWSWIRE) -- Three Sixty Solar Ltd. (NEO: VSOL) (OTC: VSOLF) (“Three Sixty,” “Three Sixty Solar,” or the “Company”), an innovative alternative energy design, manufacture, and sales organization focused on solar equipment supply to the global marketplace, is pleased to report of the benefits and durability of the solar tower over the past 16 months.

Key Highlights

• Durability – Tower and Panels remained in as-built condition
• Weather Resiliency – Zero damage observed from 120+km/hr winds, snow, hail, or rain
• Snow Shedding - Vertical positioning of the panels allowed all snow to slough off the tower
• Reduced Maintenance – Zero power loss due to soiling of panels

CEO Brian Roth states, “These highlights support something I have believed for a long time – our tower design has more benefits that just the potential to use up to 90% less land. Reducing maintenance has the potential to reduce the operating costs and improve the economics of a project. I am very pleased at how the tower has held up in the Canadian environment.”

The above conclusions are based on an internal study by Three Sixty on its demonstration tower in Kelowna, BC, Canada. Erected in October 2021, the tower and panels have been in the Canadian elements for a total of 16 months. During that time, the tower experienced a severe storm, bringing wind gusts in excess of 120 km/hr (75 mph) along with intense rain and hail. According to Global News¹, the storm left thousands of residents without power and closed schools.

Soiling tests were conducted in January 2023 and the voltage and current were measured on panels before and after cleaning. After cleaning, no change was measured to either the voltage or current, indicating that there had been no power loss due to soiling of the panels after more than one year of being on site.

For further information and details, please see the company’s website at https://threesixtysolar.com/#white-paper for the full white paper.

On Behalf of the Board of Directors,

--Brian Roth—

Brian Roth,
Chief Executive Officer & Director
Three Sixty Solar Ltd.
www.threesixtysolar.com

About Three Sixty Solar Ltd. (NEO: VSOL) (OTC: VSOLF)

Three Sixty Solar Ltd. is an innovative alternative energy design, manufacture, and sales organization which focuses on solar equipment supply to the global marketplace. The company’s premier product line is the patent pending SVS series commercial solar tower. According to Statistics MRC, the solar farm sector is set to grow to around $296 billion by 2028. Three Sixty Solar’s unique tower concept is a high density, clean energy solution that uses up to 90% less land space than conventional solar farms and can co-locate adjacent to homes, retail, agriculture, and industry, thus minimizing line loss and maximizing energy delivery in places where renewables have been difficult to install until now. In multi-tower applications, developers can utilize the spaces between towers to better leverage land assets through additional revenue generating activities. Designed to withstand major instances of extreme weather, Three Sixty Solar offers a clean energy solution with minimal environmental and habitat impact. To find our more, visit: www.threesixtysolar.com and please watch our video. To stay informed, please sign up to receive news alerts and follow us on Instagram (@threesixtysolar.vsol), Twitter (@ThreeSixtySolar), and Facebook (@threesixtysolar.vsol).

Forward Looking Information Disclaimer

This letter contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to that the conclusions observed in the durability testing of the Company’s demonstration tower will result in economic and other benefits from the Company’s products.

Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; the Company’s ability to secure additional financing on reasonable terms; the competitive conditions of the sector in which the Company operates; and laws and any amendments thereto applicable to the Company.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described under the heading “Risks Factors” in the Company’s filing statement dated August 3, 2022 filed under the Company’s profile at www.sedar.com. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.

Neither the Neo Exchange Inc. nor any securities regulatory authority has approved nor disapproved the contents of this press release.

CONTACT INFORMATION

Three Sixty Solar Ltd.
Investor Relations
Email: investors@threesixtysolar.com   
Telephone: +1 (778) 383-6743

Sales & Inquiries
Email: info@threesixtysolar.com
Telephone: +1 (877) 684-1972

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¹ https://globalnews.ca/news/8377163/okanagan-hard-hit-by-wind-storm-homes-and-schools-remain-dark-due-to-power-outage/

 A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a50c899b-062e-4423-ab15-37a9ff4e0bdc

FAQ

What are the key benefits reported by Three Sixty Solar Ltd. for their solar tower?

Three Sixty Solar Ltd. reported benefits such as durability, weather resiliency against high winds, effective snow shedding, and no power loss due to soiling.

How long has the demonstration tower been operational?

The demonstration tower has been operational for 16 months.

What extreme weather conditions did the solar tower withstand?

The solar tower withstood storms with wind gusts exceeding 120 km/hr, as well as intense rain and hail.

What company is represented by the ticker symbol VSOLF?

The ticker symbol VSOLF represents Three Sixty Solar Ltd.

What impact does Three Sixty Solar's design have on land usage?

The design can use up to 90% less land compared to conventional solar farms.