Company Subsidiaries Carry Momentum From Record-Setting 2015 Into the New Year by Finalizing Solar Programs for a Number of Agricultural and Commercial Customers
ROSEVILLE, CA--(January 05, 2016) - Solar3D, Inc. (NASDAQ: SLTD), a provider of solar power solutions and the developer of a proprietary high efficiency solar cell, announced today that its operating subsidiaries have secured approximately $12 million via several new agreements to provide agricultural and commercial customers in the Northern California region with comprehensive solar solutions.
Butte County Rice Growers Association (BUCRA), a 100-year-old cooperative that has 400 farmer members in Northern California, contracted the Company to provide a 2.2MW ground mount solar system. The approximately $3.6 million installation is estimated to generate more than $14.8 million in energy cost savings over a 25-year period.
Corder Farms, a 4th generation family farm in the Fall River Valley, has agreed to a $2.1 million contract for the design and installation of a 1.03MW ground mount system comprised of Canadian Solar Panels and Solectria Inverters. The solar system is expected to save Corder Farms nearly $9 million in energy costs over a 25-year period.
Five H Farms is a prominent dairy farm located in Merced, California, that sought an energy-efficient solar program designed to improve efficiency and reduce overall energy costs. Following an implementation of a $1.4 million, 699kW Canadian Solar Ground Mount, Five H Farms will realize more than $6.2 million in energy cost savings over a 25-year period.
Colusa Rice Company was established in 1982 and operates as an S-Corporation comprised of 39 growers and owners. The organization requested the design and implementation of a $1.3 million, 667kW ground mount solar system that will achieve over $5.5 million in energy cost savings over a 25-year period.
Kern Ice and Cold Storage, a cold storage facility located in Bakersfield, contracted the Company for the design and installation of a 451kW Sunpower Roof Mount solar system. The $1.1 million agreement is expected to generate more than $5.4 million in energy cost savings over a 25-year period.
The Company also secured $2.5 million in combined agreements with farms including Tarke Farms, Sills Farms Inc., Van Dyke Farming, Cain Ranch, JH Meek & Sons, and Heidrick & Heidrick Enterprises. The latter two companies are repeat customers, a strong representation of Solar3D's commitment to customer service and financing options that benefit the customer above all else. The Company expects this trend to continue, as the National Farmers Union (NFU) recently shared its support of the Department of Energy's decision to maintain solar tax credits, stating that medium-sized rooftop solar power remained an 'excellent low-risk investment' for many farmers with substantial electricity bills.
"We are pleased to begin 2016 by announcing a number of solar agreements that we believe are an indicator of things to come this year," said Jim Nelson, CEO of Solar3D. "Solar3D continues to build its position as the preferred integrator in the California agriculture solar market. Our experience shows that solar solutions are economically feasible, especially when given a customer-first suite of financing options. This financial flexibility in conjunction with our subsidiaries' extensive solar experience and knowledge, has established a strong reputation for solar solutions throughout the high growth markets we serve. This, among other reasons, is why we expect our revenue trajectory to continue, ultimately enhancing shareholder value."
About Solar3D, Inc.
Solar3D, a leading provider of solar power solutions, is focused on the design, installation and management of solar power systems for commercial, agricultural and residential customers. Through its wholly owned subsidiaries, Solar3D is one of the fastest growing solar systems providers in California delivering 2.5 kilowatt to multi-megawatt commercial systems. Solar3D's technology division is developing a patent-pending 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity. The Solar3D Cell collects sunlight from a wide angle and lets light bounce around in 3-dimensional microstructures on the solar cell surface. The Company's mission is to further the widespread adoption of solar power by deploying affordable, state-of-the-art systems and developing breakthrough new solar technologies.
To learn more about Solar3D, visit our website at http://www.Solar3D.com.
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