ROSEVILLE, Calif., May 24, 2018 (GLOBE NEWSWIRE) -- Sunworks, Inc. (NASDAQ:SUNW), a leading provider of
solar power solutions for agriculture, commercial, industrial (ACI), public works and residential markets today celebrated the
completion of a 1.4 MW solar power project encompassing nine Los Altos School District (LASD) campuses.
Sunworks was contracted by ForeFront Power, a leading solar power developer that assists public sector agencies
by delivering the most impactful behind-the-meter, virtual, and wholesale renewable energy solutions. Sunworks’ dedicated, in-house
construction team managed engineering, procurement and construction (EPC) for this project. Today’s ceremony at Oak Avenue
Elementary School also included TerraVerde Energy, the District’s procurement consultant, as well as representatives from the local
school council.
Sunworks’ Chief Executive Officer, Chuck Cargile said, “We are proud to have been the EPC solutions provider for
this exciting solar project. The savings in utility costs at each of the nine locations will allow for funds to be redirected
to advance educational program initiatives that directly benefit the students. In addition, the positive results help
tomorrow’s generation understand the positive impact that sustainable energy has on our environment.”
Mr. Cargile added, “We originally announced the commencement of this ground-breaking project in August of
2017. At that time, we identified it as our largest public works program to-date. We have since won a number of
projects even larger than the important LASD project, for school customers across California. Our valuable partnership with
ForeFront Power is providing us the opportunity to expand upon our proven record of superiority and unmatched experience in complex
solar project installation.”
LASD is receiving solar energy at no upfront cost and without the use of bond funds using a Power Purchase
Agreement (PPA) framework with ForeFront Power. ForeFront Power is responsible for all project financing, engineering,
construction, operations, and maintenance for a 20-year project term. As a result, the solar portfolio is expected to save the
District over $175,000 annually and up to $2.7 million within the first ten years of operation.
About Sunworks
Sunworks, Inc. (SUNW) is a premier provider of high performance solar power systems. We are committed to quality
business practices that exceed industry standards and uphold our ideals of ethics and safety.
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
agricultural, commercial and industrial, federal, public works, and residential.
Our dedication to excellence is reflected in our 25-year warranty, a benchmark that we stand by to support our customers above and
beyond their expectations.
Sunworks’ diverse, seasoned workforce includes distinguished veterans who bring a sense of pride, discipline,
and professionalism to their interaction with customers.
Sunworks is a member of the Solar Energy Industries Association (SEIA) and is a proud advocate for the advancement of solar
power.
About Los Altos School District
Los Altos School District operates seven elementary and two junior high schools and is a top-rated school district in the State of
California. LASD serves more than 4,500 K-8 students from portions of Los Altos, Los Altos Hills, Mountain View and Palo Alto. All
nine schools in LASD have been recognized as California Distinguished Schools and/or National Blue Ribbon Schools. LASD is
nationally recognized as a leader in educational innovation and for its many awards. Read more about LASD programs at iLearn
Blogspot and follow on Twitter @lasdk8.
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. Our 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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/d0daa8b0-73dd-454c-9322-9e629d4d32b0
