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Solar3D’s SUNworks Division Achieves SunPower Elite Status
The company’s operating division is approved for promotion in record time; seeks to lower customer acquisition costs and improve margins
Santa Barbara, CA – December 9, 2014 – Solar3D, Inc. (OTC: SLTD), a leading solar power company and the developer of a proprietary high efficiency solar cell, today announced that its operating division, Roseville-based SUNworks, has been approved for promotion to SunPower Elite status, designating SUNworks as a certified solar installer within its extensive network. This designation by SunPower will allow the company to lower its customer acquisition costs and increase its profit margins.
Since 1985, Silicon Valley-based SunPower has manufactured high efficiency solar cells, based on its unique SunPower Maxeon cell technology designed at Stanford University. The company has produced enough solar units to generate 18,000,000 MWh via a global portfolio of leading residential, commercial and utility solar energy markets.
By attaining SunPower Elite status, SUNworks will be added to SunPower’s network of solar design and installation companies. This designation cites SUNworks’ commitment to exceptional high levels of customer service, reputation for performance in design and quality, and advanced training in SunPower technology. In addition to achieving this highly coveted designation, becoming a SunPower Elite Dealer allows SUNworks to offer more competitive pricing to its customers, while at the same time increasing the company’s profit margins.
“SunPower is a premier solar manufacturer and we are thrilled that our relationship has resulted in this designation for our company,” said Jim Nelson, CEO of Solar3D. “As Solar3D continues to grow organically and via acquisition, we consider this form of strategic partnership to be instrumental in reaching new customers. This relationship, along with other industry partnerships, is one of many reasons why we believe Solar3D and its network of companies, including SUNworks and MD Energy, will continue to expand significantly in 2015 and beyond.”
Recently, Solar3D and SUNworks have achieved a high level of visibility in terms of both project installation and local press. A December 8 article from the Sacramento CBS affiliate touted SUNworks growth and its outstanding commitment to the region for its efforts towards sustainability. A December 6 article from the Sacramento Business Journal, “With Plunging Costs and Rising Demand, Solar Power is Generating Profits”, quoted Solar3D CEO Jim Nelson on his belief that the growth by acquisition model will make the international solar ecosystem more competitive.
In early 2014, the Company acquired SUNworks, a Sacramento-area solar design and installation firm, which has resulted in 2014 expected revenue generation exceeding $20 million. In November 2014, Solar3D acquired MD Energy, a California-based solar construction firm that is expected to generate over $7 million in revenue this year.
About SunPower
SunPower Corp. (NASDAQ: SPWR) designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today. Residential, business, government and utility customers rely on the company's quarter century of experience and guaranteed performance to provide maximum return on investment throughout the life of the solar system. Headquartered in San Jose, Calif., SunPower has offices in North America, Europe, Australia, Africa and Asia. For more information, visit www.sunpower.com.
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 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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