Solar3D Announces Expansion Into Nevada Solar Market
Marketwired
The Company Will Join Other Major Energy Companies in the New Hotspot for Solar Power
November 12, 2014: 03:30 AM ET
Solar3D, Inc. (OTCQB: SLTD), a leading solar power company and the developer of a proprietary high efficiency solar cell, today announced that it has finalized its plan to expand into Nevada through its SUNworks division and will begin operations in January, 2015. This news follows Solar3D's announcement that it has signed a definitive purchase agreement to acquire 100% of MD Energy, LLC, a Rancho Cucamonga, California-based a solar systems provider.
Nevada has become a hotspot of late for energy companies, as just last year Warren Buffett's Iowa-based MidAmerican Energy Holdings Co. purchased NV Energy. According a recent New York Times article, this has stimulated optimism and growth throughout the state for new energy independence, as an increased "percentage of energy is coming from renewable sources -- geothermal, solar and wind."
Solar3D's SUNworks division seeks to capitalize on this exploding regional market by offering its low priced solar systems through a range of various financing options.
"We are extremely excited about the tremendous opportunity that the Nevada solar market has to offer," said SUNworks CEO, Abe Emard. "We are confident that as the Nevada energy market continues to expand and turn to renewables, the opportunity for SUNworks to succeed is significant."
Brent Baker, SUNworks VP of Sales, added, "We have an aggressive growth model for 2015 and we anticipate that this entry into the Nevada market will provide us with approximately 20% of that overall revenue within the first year of operation."
Jim Nelson, CEO of Solar3D, commented, "We are thrilled with the success that our SUNworks division is experiencing as we continue to gain market share in this explosive market. Our recently announced acquisition of MD Energy will not only strengthen our California presence, but is part of our strategy to grow in the western part of the U.S."
About Solar3D, Inc.Solar3D is a leading provider of solar power solutions and the developer of a proprietary high efficiency solar cell. The company's SUNworks division focuses on the design, installation and management of solar power systems for commercial, agricultural and residential customers. SUNworks is one of the fastest growing solar systems providers in California and has delivered hundreds of 2.5 kilowatt to 1-megawatt commercial systems and has the capability of providing systems as large as 25 megawatts. 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.
Safe Harbor Statement Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These risks include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, products, and prospects for sales, failure to commercialize our technology, failure of technology to perform as expected, failure to earn profit or revenue, higher costs than expected, persistent operating losses, ownership dilution, inability to repay debt, failure of acquired businesses to perform as expected, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
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