Sunworks to Construct 1.1 MW Solar System for CSP Labs
- June 19, 2017
ROSEVILLE, CA–(Marketwired – June 19, 2017) – Sunworks, Inc. (NASDAQ: SUNW), a leading provider of solar power solutions for agriculture, commercial, industrial (ACI), and residential markets, announced today a new project for a 1.1 Megawatt (MW) solar system that will be constructed at CSP Labs in Pleasant Grove, California. The system will offset more than 90% of the lab’s annual electricity needs. CSP Labs provides a wide range of services including seed germination, disease diagnosis, hybrid research, and non-GMO testing.
Sunworks Chief Executive Officer, Chuck Cargile, said “We are excited to partner with CSP Labs on this important project. The passion that the CSP team has for making a positive impact on California’s agriculture community is unmatched. The solar system we have co-developed will lower CSP’s total energy cost and allow them to use available resources to pursue their long-term strategic plans. Partnerships with quality organizations, such as CSP Labs, are core to the Sunworks strategy of proliferating solar systems and furthering efficient energy consumption.”
Plant health is a vital component to the economic well-being of California’s farms, orchards, and ranches. The state’s food supply is rigorously protected from exotic pests that could otherwise damage future crop yields. The impact of pests, as well as the pesticides that are used to combat them, have a direct influence on the state’s position as a key global food provider. Established in 1992, CSP Labs works directly with the California Department of Agriculture (CDFA) to study and analyze quarantined samples that are submitted by farmers throughout the state.
Both Sunworks and CSP Labs share a comprehensive, long term commitment to sustainable agriculture. With several new buildings recently constructed on the CSP Labs campus, modern construction codes require that they incorporate new energy savings measures. Coupled with the electricity consumption rates for greenhouse LED lighting, cloning technology, and seedling cultivation, CSP Labs has made it a priority to lower their operational costs by partnering with Sunworks.
The Sunworks team analyzed all facets of the laboratory’s daily operations and developed an all-inclusive solar design specifically tailored for their needs. By leveraging adjacent, unused land that’s currently owned by CSP Labs, Sunworks will complete the construction of the ground mounted 1.1 MW DC solar system later this year. The system is expected to produce 1,620,682 kWh of electricity, accounting for over 90% of the lab’s annual energy consumption. The chosen site and its new solar design provides for scalability, accommodating operational expansion by CSP Labs in the future.
The project will be supported by Sunworks’ industry leading, 25-year warranty as well as operation, maintenance, and monitoring of the system. Construction is expected to be completed by end of 2017.
Founded in 1983, Sunworks, Inc. is a premier provider of solar power solutions. We’re committed to quality business practices that exceed industry standards and uphold our ideals of ethics and safety.
Today, Sunworks continues to grow its presence, expanding nationally with regional and local offices. We strive to consistently deliver high quality, performance oriented solutions for customers in a wide range of industries including agriculture, commercial and industrial, federal, public works, utility, and residential. Our dedication to excellence is reflected in our 25-year warranty, a benchmark that we standby to support our customers above and beyond their expectations.
Sunworks’ diverse, seasoned workforce includes distinguished veterans who are devoted to providing the very best customer experience. All of our employees uphold our company’s guiding principles each day.
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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