iSun Announces Strategic Investments to Expand Presence in Clean Mobility Infrastructure Market
18 March 2021 - 11:29PM
Business Wire
iSun, Inc. (NASDAQ: ISUN) (“iSun” or the “Company”), a leading
solar energy and clean mobility infrastructure company with 50
years of construction experience for solar, electrical and data
services, today announced that it has made a $1.5 million strategic
investment in Gemini Electric Mobility Co. (“Gemini”) and a $1
million investment in Nad Grid Corp (“AmpUp”).
Highlights
- Establishes strategic relationships to drive future
opportunities to install, own and operate large networks of EV
charging stations with high utilization
- Consistent with iSun’s strategy to invest in companies that
help iSun provide energy as a service
- Provides iSun with access to software development capabilities
necessary for EV charging services
- Investments aim to accelerate the adoption of electric
mobility
“The investments in Gemini and AmpUp are important steps forward
for iSun as we seek to expand our presence in the clean mobility
market and further establish the Company as a leader in solar
infrastructure, inside and outside of our traditional regional
markets from Maine to California,” said Jeffrey Peck, Chairman and
Chief Executive Officer of iSun. “These investments complement our
new product offerings acquired in January and are part of our
ongoing growth strategy that targets companies serving new markets
and that help iSun provide energy as a service to enable our
customers to convert from dirty energy to clean energy. We believe
the investments in Gemini and AmpUp fit well within that framework.
They provide iSun with a unique advantage to serve our customers in
the clean mobility infrastructure market and provide growth
opportunities for our solar installation business. The investments
also expand our opportunities to own and operate electric vehicle
charging assets and to increase our base of recurring revenue and
earnings.”
Gemini Electric Mobility Co. has developed a sustainable fintec
solution for mobility, which accelerates the adoption of electric
vehicles for those who drive the most. Their solution delivers on
EV’s GHG reduction and clean air promises, by increasing
accessibility and by maximizing utilization over the full vehicle
lifecycle.
AmpUp (Nad Grid Corp) was founded by Thomas Sun, Timotej
Gavrilovic and Ronnie Nguyen in 2019. AmpUp is an electric vehicle
(EV) software company and network provider that enables drivers,
hosts, and fleets to charge stress-free. With three issued and four
pending patents, their technology gives businesses and property
owners the ability to efficiently manage multiple charge stations
and locations in one platform. Advanced features, such as smart
scheduling, dynamic access control and energy optimization provide
site hosts more flexibility and affordability for their charger
investment. AmpUp’s network and software solutions have been
deployed for customers across North America requiring installation
and management of multiple electric vehicle chargers. AmpUp has
been working with iSun on the development of its proprietary iSunOS
solution, which provides site owners with metrics across solar
power generation, electric vehicle charging status, clean miles
driven, air quality and battery management capacities.
ABOUT iSUN
Headquartered in Williston, VT, iSun, Inc. (NASDAQ: ISUN) is a
business rooted in values that align people, purpose, innovation
and sustainability. Ranked by Solar Power World as one of the
leading commercial solar contractors in the United States, iSun
provides solar energy and clean mobility infrastructure to
customers for projects from smart solar mobile phone and electric
vehicle charging, up to multi-megawatt renewable energy solutions.
iSun’s innovations were recognized this year by the Solar Impulse
Foundation of Bertrand Piccard as one the globe’s Top 1000
Sustainability Solutions. As a winner, this award will result in
the iSun solution being presented to hundreds of government
entities around the world, including various municipal, state and
federal agencies in the United States. Since entering the renewable
energy market in 2012, iSun has installed over 200 megawatts of
rooftop, ground mount and EV carport solar systems (equal to power
required for 38,000 homes). We continue to focus on profitable
growth opportunities. For more information, visit
www.isunenergy.com
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements include, but are not limited
to, statements about (i) iSun’s plans, objectives, expectations and
intentions and other statements contained in this press release
that are not historical facts; and (ii) other statements identified
by words such as “expects” “anticipates,” “intends,” “plans,”
“believes,” “seeks,” “estimates,” “targets,” “projects,” or words
of similar meaning generally intended to identify forward-looking
statements. These forward-looking statements are based upon the
current beliefs and expectations of the respective management of
iSun and are inherently subject to significant business, economic
and competitive uncertainties and contingencies, many of which are
beyond the control of iSun. In addition, these forward-looking
statements are subject to assumptions with respect to future
business strategies and decisions that are subject to change.
Actual results may differ materially from the anticipated results
discussed in these forward-looking statements because of possible
uncertainties.
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version on businesswire.com: https://www.businesswire.com/news/home/20210318005268/en/
INVESTOR CONTACT Chase Jacobson IR@isunenergy.com
802-264-2040
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