$3.5 Million in Solar Panel Deal
It's a win-win for Solar3D's SUNworks and California-based Rivermaid Trading Company.
Having developed a proprietary high efficiency solar cell, Solar3D, Inc. is at the vanguard of solar power solutions. It recently announced that its operating division SUNworks has secured a $3.52 million contract to create and implement a photovoltaic solar panel system for Rivermaid Trading Company in California. Rivermaid, based in Lodi, is led by CEO Patrick Arichibeque. The organization is dedicated to sustainable agriculture and is intent on preserving the land which it utilized to grow and transport 50% of California's pear supply.
Solar3D, including its subsidiary SUNworks, is a rapidly-growing solar systems provider also stationed in California which delivers 2.5 kilowatt to multi-megawatt commercial systems to its clients. At the moment, Solar3D is looking to innovate in the area of active solar technology. Their technology division is developing a three-dimensional solar cell to increase the the amount of sunlight converted into electricity.
In its deal with Rivermaid, SUNworks will be building and installing a PV cell system capable of generating a whopping 1.477 Megawatts of power through its SunPower roof mount solar system. The amount of money Rivermaid is projected to save over the next two and a half decades from this investment is $11,800,000, all while making the shift to alternative energy and significantly decreasing - if not completely eliminating - their dependence on traditional energy sources.
Abe Emard, CEO of SUNworks, had this to say about the company's newest clients:
"Rivermaid is an ideal customer in that their vision for a sustainable future aligns with our own. We are pleased to enter into an agreement with this prominent organization to implement a solar program that drives down cost while making the community a cleaner place."
Jim Nelson, CEO of Solar3D, also commented on the opportunity to work with Rivermaid:
"As our leadership expands due to consolidation, so do the capabilities and services we are able to offer. Quality companies see this and we are creating great relationships. We believe this growth-by-acquisition strategy will continue to grow the size of the projects we work on, resulting in increased revenue and overall shareholder value."