by Staff Writers
Chico CA (SPX) Nov 24, 2015
Solar3D has announced that Elite Solar, the Company's newest planned acquisition, reports over $7 million in projects that have begun recently and a backlog of contracted projects of over $5.5 million for agreements due to commence shortly.
The list of ongoing and backlogged projects spans solar implementation for sizeable commercial and agricultural businesses.
The projects range in size from 100kW to over 1MW in terms of solar deployment, the latter representing a project that will save the farm millions in energy cost savings while driving significant revenue for Elite Solar.
The Company also anticipates contracting a number of new deals within the next two weeks, including sizeable contracts with large agricultural and commercial organizations throughout the high-growth California solar market.
"We are thrilled that Elite Solar business has flourished late into the year as we continue to establish 2015 as the most lucrative year in Company history," said Kirk Short, CEO of Elite Solar.
"With over a dozen projects currently under development and several more about to begin, we anticipate finishing the year on a very strong note."
"The tremendous profitable growth experienced by Elite Solar is a common denominator the solar companies with which we anticipate joining forces," said Jim Nelson, CEO of Solar3D.
"In addition to their rapid growth, Elite Solar is a natural fit for the Solar3D organization due to its strong leadership, and for how well we anticipate they will complement our existing team.
"We expect Solar3D and its subsidiaries as a whole to be strengthened through this process, resulting in a Company with a dominant presence within the high-growth solar regions that we serve."
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