Three Sixty Solar Signs Letter of Intent for First US Tower Sale
- Three Sixty Solar has signed a letter of intent with Rocky Mountain Log and Timber to install a solar tower at their headquarters in Hamilton.
- Power generated from the tower will be used to offset power requirements of RMLT's operations.
- The design includes the installation of Hook'd Broadband technology on the solar tower to provide broadband connectivity.
- If the energy optimization study is positive, a binding purchase order may be completed by the end of November 2023.
- None.
--Tower to include proprietary broadband technology
VANCOUVER, British Columbia, Oct. 19, 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 announce that they have signed a non-binding letter of intent (the “LOI”) with Rocky Mountain Log and Timber (“RMLT”) to proceed with the sale and installation of a Three Sixty Solar Tower in Hamilton, MT.
Key Points:
- Three Sixty has signed an LOI with RMLT indicating their intent to install a solar tower at their headquarters in Hamilton.
- Power generated from the tower will be used to offset power requirements of their operations.
- Energy optimization study underway, with the goal to reach a binding purchase order by November 30, 2023.
- Design includes installation of technology from Hook’d Broadband on the solar tower to provide broadband connectivity.
Three Sixty Solar’s CEO, Brian Roth states, “I’m thrilled to have signed the letter of intent to secure our first commercial sale in the United States with Rocky Mountain. Rocky Mountain are focused on providing premium homes, often in remote locations. I believe that our solar tower technology is an ideal solution to partner with many of the communities that they help build, and I’m excited for the opportunity to demonstrate the technology at their headquarters. I look forward to working with Jake and his team to deploy the tower in Hamilton and to then offer it cooperatively to their customers throughout the northwest.”
Rocky Mountain Log and Timber is a builder of premium log homes based in Hamilton, Montana, and operating throughout the northwestern United States. The potential order is based off the results energy optimization study which has already started. If the study is positive, a binding purchase order may be completed as soon as the end of November 2023.
Rocky Mountain Log and Timber owner, Jake Hayes, adds, “We were looking for ways to add renewable energy to power our operations and to offer to our customers. I believe that the solar tower technology that Three Sixty has developed is a perfect fit for us to generate localized independent power. I’m also excited to include the Hook’d Broadband technology and be able to provide a connectivity solution to our clients on future projects. We are looking forward to working with Three Sixty and becoming an advocate for the solar tower solution.”
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 all-Canadian enterprise which focuses on solar equipment supply to the global market. 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
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, statements with respect to the Company’s plans to enter into a binding purchase order to install a solar tower at Rocky Mountain Log and Timber headquarters and the timing thereof.
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 annual information form dated December 29, 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
FAQ
What is the purpose of the LOI between Three Sixty Solar and Rocky Mountain Log and Timber?
What will the power generated from the solar tower be used for?
What technology will be installed on the solar tower?
When will the binding purchase order be completed?
