DENVER, July 06, 2018 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ: RGSE ), the exclusive worldwide manufacturer of the visually stunning POWERHOUSE™ solar shingle system, reports that the new POWERHOUSE™ 3.0 solar shingle system has passed UL tests for Class A Fire, the highest Fire rating available. UL Fire tests are required to achieve UL 1703 Certification, the standard for solar photovoltaic modules and panels.
“Passing these tests demonstrates our steady progress towards UL Certification,” commented Brad Bentzen, director of POWERHOUSE™ division. “Solar tests are now the only tests remaining toward UL 1703 Certification. Given that POWERHOUSE™ 3.0 uses industry standard silicon technology, we remain confident we will receive full UL 1703 certification by September as anticipated.”
RGS Energy plans to begin sales and installation of POWERHOUSE™ 3.0 solar shingles immediately following UL 1703 certification. The company has received written reservations for $42 million in potential annual revenue, averaging $1.5 million a day in new reservations since the last announcement.
“As demonstrated by the hundreds of reservations we’ve already received, we enjoy a huge market opportunity in the U.S.,” continued Bentzen. “California in particular is one of the more compelling domestic markets for POWERHOUSE™ with the state’s recently enacted solar mandate.”
“We also see substantial international opportunities,” added Bentzen. “So, we are also pursuing International Electrotechnical Commission (IEC) testing to address the global market.”
About RGS Energy
RGS Energy (NASDAQ: RGSE ) is America’s Original Solar Company providing solar, storage and energy services whose mission is clean energy savings. The company is the exclusive manufacturer of POWERHOUSE™, an innovative in-roof solar shingle using technology developed by The Dow Chemical Company. RGS Energy also sells, designs and installs traditional retrofit solar systems for residential homeowners, commercial businesses, non-profit organizations and government entities.
For more information, visit RGSEnergy.com and RGSPOWERHOUSE.com, on Facebook at www.facebook.com/RGSEnergy and on Twitter at twitter.com/rgsenergy. Information on such websites and the websites referred to above in this press release is not incorporated by reference into this press release.
RGS Energy is the company’s registered trade name. RGS Energy files periodic and other reports with the SEC under its official name “Real Goods Solar, Inc.”
POWERHOUSE™ is a trademark of The Dow Chemical Company, used under license.
Forward-Looking Statements and Cautionary Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including statements regarding RGS Energy’s plans for the commercialization of the POWERHOUSE™ 3.0 solar shingle, the timing of UL Certification for the POWERHOUSE™ 3.0 solar shingle and RGS Energy’s business and financial strategies. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they provide our current beliefs, expectations, assumptions, forecasts, and hypothetical constructs about future events, and include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations. The words “anticipate,” “forecast,” “project,” “expect,” “plan,” “future,” “may,” “hypothetical,” “will,” and similar expressions as they relate to RGS Energy are intended to identify such forward-looking statements.
Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Therefore, RGS Energy cautions you against relying on any of these forward-looking statements.
Key risks and uncertainties that may cause a change in any forward-looking statement or that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include: RGS Energy’s ability to successfully and timely commercialize POWERHOUSE™ 3.0; the ability to obtain requisite UL certification of POWERHOUSE™ 3.0; demand for POWERHOUSE™; RGS Energy’s ability to successfully and timely expand its POWERHOUSE™ 3.0 business outside of the United States; foreign exchange risks associated with the POWERHOUSE™ 3.0 business; RGS Energy’s ability to realize revenue from written reservations for initial POWERHOUSE™ deliveries; and RGS Energy’s ability to obtain future written reservations for POWERHOUSE™ deliveries.
You should read the section entitled “Risk Factors” in our 2017 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, which identify certain of these and additional risks and uncertainties. Any forward-looking statements or forward-looking hypothetical examples made by us in this press release speaks only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake any obligation to publicly update or revise any forward-looking statement or forward-looking hypothetical example, whether as a result of new information, future developments or otherwise, except as may be required by law.
Investor Relations Contact
Ron Both
Managing Partner, CMA
Tel 1-949-432-7566
RGSE@cma.team
