Sunworks Announces Largest Contract Award to Date

ROSEVILLE, Calif., Sept. 29, 2017 (GLOBE NEWSWIRE) -- Sunworks, Inc. (NASDAQ: SUNW ), a leading provider of solar power solutions for agriculture, commercial, industrial (ACI) and residential markets today announced it has been awarded a new 8.5 megawatt (MW) solar power project in partnership with ForeFront Power, a leading solar power developer that assists private and public sector agencies by delivering the most impactful, behind-the-meter, virtual and wholesale renewable energy solutions. 

The new project directly supports an initiative from the end-customer to reduce costs and meet recent renewable energy goals. Sunworks will design, engineer, procure and install a combination of parking canopy and ground mount solar solutions at multiple locations. The projects are expected to result in reduced energy costs while establishing a definitive, long term pricing structure for the customer.

Sunworks’ Chief Executive Officer, Chuck Cargile said, “This project represents our largest program award to date and is solid evidence of the traction we are gaining in the market through partnerships. Together with ForeFront Power, Sunworks will enable key renewable energy consumers to control their energy costs more efficiently and establish a more accurate, monthly power payment schedule.”

ForeFront Power selected Sunworks as the prime engineering, procurement and construction (EPC) contractor based on its proven record of superiority and unmatched experience in commercial and industrial solar project installations.

About Sunworks

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. Sunworks is a member of the Solar Energy Industries Association (SEIA) and is a proud advocate for the advancement of solar power.

About ForeFront Power

The ForeFront Power team has more than a decade of renewable industry experience, serving business, public sector and wholesale power customers around the world. The team has developed over 800 MW of capacity across more than 1,000 projects, targeted on assisting public sector agencies and C&I firms to deliver the most impactful behind-the-meter, off-site and wholesale solutions. ForeFront Power is a wholly-owned subsidiary of Mitsui & Co., Ltd., a global energy infrastructure and investment leader.

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.