|By Marketwired .||
|July 22, 2014 03:01 AM EDT||
ROSEVILLE, CA--(Marketwired - July 22, 2014) - Solar3D, Inc. (OTCQB: SLTD), a leading solar power company and the developer of a proprietary high efficiency solar cell, today announced that its SUNworks division has finalized a contract with Jackson Family Winery ("JFW") to install solar systems totaling up to 3 megawatts, located throughout a number of JFW Properties.
Abe Emard, SUNworks CEO, stated, "Once completed, the installed systems will offset nearly 70% of the wineries electrical consumption. The projected savings over the next 25 years will be approximately $11MM."
Julian Gervrean, JFW Senior Sustainability Manager, said, "We have been working on this project with SUNworks for quite some time. After several months of planning, it's exciting to see it come to fruition. This is a giant step forward for us in meeting our sustainability goals."
Last year JFW commissioned SUNworks to complete a 300kW solar system located at their newly renovated Ramal Winery located inside Napa Valley.
The SUNworks management team plans to complete the JFW projects by November 2014.
SUNworks continues to prove it is on the forefront of the solar industry. Mike Podnebesnyy, Vice President of SUNworks stated, "I am proud of the unique design and installation on this project. In this case, battery storage will be implemented in conjunction with solar PV to give our customer control over their demand consumption. We believe this is the direction in which our industry is heading. SUNworks is on the leading edge of this offering and is discussing this option with our current and future customers."
Jim Nelson, CEO of Solar3D, concluded, "It was exciting to have such a prominent company like Jackson Family Wineries trust SUNworks with their installation at Ramal Winery. To have them come back and engage SUNworks to facilitate an additional 3 megawatts on some of the wineries most prestigious locations is a tribute to the quality of the work SUNworks is doing."
SUNworks is focused on the design, installation and management of solar systems for agricultural, commercial, & residential customers. SUNworks has delivered hundreds of 2.5 kilowatt to 1-megawatt commercial systems and has the capability to deliver systems as big as 25 megawatts.
Second quarter results will be reported with Solar3D's 10Q, due to be filed shortly. The results of SUNworks full quarter will be consolidated with Solar3D's results for the first time on the second quarter 10Q.
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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