|By Marketwired .||
|August 27, 2014 03:04 AM EDT||
ROSEVILLE, CA -- (Marketwired) -- 08/27/14 -- 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 secured a 20,000 square-foot building located in Roseville, CA to house its northern California operations beginning Q4 of 2014.
SUNworks will use the new 20,000sf building with over 12,000sf of warehouse space equipped with multiple docking stations to facilitate its commercial & residential solar systems backlog, as well as to support increased staffing. The Roseville location will remain the company's headquarters as it expands into the Southern California market before the end of the 2014 calendar year.
"As SUNworks continues to experience significant growth, approximately 300% year-over-year, we will continue to focus on providing our customers with industry leading products and services, an objective facilitated by this relocation," said Abe Emard, CEO of SUNworks CEO. SUNworks President, Emil Beitpolous, added, "It is remarkable to think that just five years ago we moved into this 6,000 square-foot building with room for growth, and now we are tripling the size of our building to maintain production at optimal levels."
"We are very excited about this transition into our new headquarters, which showcases California's solar sector growth, as customers continue to rely upon SUNworks as a premier solar integrator," said Jim Nelson, CEO of Solar3D. SUNworks was acquired by Solar3D in early 2014.
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. Reporting of Solar3D and SUNworks results will be fully consolidated by the second quarter of this year.
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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