VANCOUVER, BC–(Marketwired – June 12, 2017) – Solar Alliance Energy Inc. (‘Solar Alliance’) or (the ‘Company’) (TSX VENTURE: SAN) (OTC: SAENF) is pleased to provide an update on the integration and performance of the recently acquired sales team and project pipeline in Los Angeles. The Company is also pleased to announce is it moving forward with aggressive expansion plans in Los Angeles and Massachusetts.
Los Angeles Update
The Los Angeles sales and operations teams have been fully integrated into Solar Alliance processes and procedures and are based in the Company’s new office in Torrance, California and have been actively canvassing and selling Solar Alliance residential solar contracts. Of the 156 residential solar projects that were acquired by Solar Alliance, approximately one third of the pipeline, or 59 projects, have either been installed or have been approved for installation. The remainder of the pipeline is expected to be approved for installation in the next 30 days. The Company estimates the pipeline of acquired projects will generate approximately US $2,331,341 in gross revenue and up to US $1,296,991 in gross profit, in addition to regular sales operations revenue.
“The integration of this new Los Angeles sales and operations team has taken place in a compressed timeframe, demonstrating the flexibility and professionalism of our entire team,” said CFO Eric Knutzen. “The projects are being progressed to installation to immediately generate strong revenue. In addition, the sales team is fully trained on Solar Alliance products and services and is hitting their stride as we move into the busy summer season. Our three core business elements of resource-effective sales, strong gross margins and high sale-to-build speed is proving to be a competitive advantage in the solar marketplace.”
“Solar Alliance continues to assess additional markets and acquisition opportunities in an effort to fuel rapid expansion while maintaining fiscal responsibility,” said Chairman and CEO Jason Bak. “The integration of the new Los Angeles sales and operations teams has proven our team’s ability to identify, acquire and integrate solar assets. Given this positive experience, we are focusing increased corporate resources on the identification and acquisition of several additional solar assets.”
Expansion Update
As result of the positive growth experienced during the integration of the new sales team in Los Angeles, the Company is aggressively recruiting new sales talent in the Los Angeles region. Specifically, Solar Alliance is recruiting Senior Solar Consultants and Field Sales Consultants in Orange County, the Inland Empire, San Fernando Valley and Antelope Valley. The Company is also recruiting for the same sales positions in San Diego in order to grow Solar Alliance’s team in the strongest solar market in the United States.
In Massachusetts, Solar Alliance will be focusing its initial expansion activities in Cambridge. The Company is actively recruiting a senior Sales Manager, Senior Solar Consultants and Solar Field Consultants for our newly formed team in Massachusetts. Solar Alliance chose Massachusetts for its initial East Coast expansion due to the State’s high electricity costs, net metering and a renewable portfolio standard with a solar goal along with an accompanying incentive via the Solar Renewable Energy Credit (‘SREC’). The Company is taking a responsible approach to expansion in the Northeast U.S. through its previously announced Origination Agreement with Crius Solar, LLC (“Crius Solar”), as it allows Solar Alliance to focus on sales and marketing and rely on Crius Solar for permitting and installation fulfillment.
Jason Bak, Chairman and CEO
About Solar Alliance Energy Inc. (www.solaralliance.com)
Solar Alliance is a sales, marketing and development company focused on residential, commercial and industrial solar installations. Since we were founded in 2003, we have developed wind and solar projects that provide enough electricity to power 150,000 homes. Solar Alliance is committed to an exceptional customer experience, effective marketing campaigns and superior lead generation in order to drive sales and generate value for shareholders. Our passion is improving life through ingenuity, simplicity and freedom of choice. We make solar simple and our goal is to install solar on every available rooftop in America.
Statements in this news release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, constitute Forward-looking statements. The words “would”, “will”, “expected” and “estimated” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different than those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to the ability to raise sufficient capital, changes in economic conditions or financial markets, litigation, legislative or other judicial, regulatory and political competitive developments and technological or operational difficulties. Consequently, actual results may vary materially from those described in the forward-looking statements.
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
For more information:
Solar Alliance Investor Relations
Spyros Karellas
Pinnacle Capital Markets
(416) 433-5696
[email protected]
