VANCOUVER, British Columbia, Oct. 19, 2023 (GLOBE NEWSWIRE) — THREE SIXTY SOLAR LIMITED (NEO: VSOL) (OTC: VSOLF) (“Three Sixty”, “Three Sixty Solar” or the “Company”), an innovative alternative energy design, manufacturing and sales organization focused on supplying solar energy equipment to the global market, is pleased to announce that it has signed Non-binding letter of intent (“LOI”) with Rocky Mountain Log and Timber (“RMLT”) to proceed with the sale and installation of the Three Sixty Solar Tower in Hamilton, Montreal.
the main points:
- Three Sixty has signed a letter of intent with RMLT indicating its intention to install a solar tower at its Hamilton headquarters.
- The energy generated from the tower will be used to offset the power requirements of their operations.
- A power optimization study is underway with the goal of reaching a binding purchase order by November 30, 2023.
- The design includes mounting technology from Hook’d Broadband on a solar tower to provide broadband connectivity.
“I am thrilled to sign the letter of intent to secure our first commercial sale in the U.S. with Rocky Mountain,” said Brian Roth, CEO of Three Sixty Solar. “Rocky Mountain is focused on providing premium homes, often in remote locations. I believe tower technology “Our solar is the perfect solution to partner with the many communities they help build, and I’m excited about the opportunity to showcase the technology at their headquarters. I look forward to working with Jake and his team to deploy the tower in Hamilton and then collaboratively deliver it to their customers throughout the Northwest.”
Rocky Mountain Log and Timber is a premium log home builder based in Hamilton, Montana, with operations throughout the Northwest United States. The potential ranking depends on the results of an energy optimization study that has already begun. If the study is positive, a binding purchase order may be completed as soon as the end of November 2023.
Rocky Mountain Log and Timber owner Jake Hayes adds, “We’ve been looking for ways to add renewable energy to power our operations and deliver it to our customers. I believe the solar tower technology developed by Three Sixty is a perfect fit for us to generate local, independent power. I’m also excited to include Hook’s technology.” d Broadband and the ability to provide connectivity solution to our customers in future projects.We look forward to working with Three Sixty and becoming an advocate for solar tower solutions.
On behalf of the Board of Directors,
CEO and Director
THREE SIXTY SOLAR LIMITED
About Three Sixty Solar Ltd. (NEO: VSOL) (OTC: VSOLF)
Three Sixty Solar Ltd. is a completely Canadian organization focused on supplying solar energy equipment to the global market. The company’s main product line is the patent-pending SVS series commercial solar tower. According to MRC statistics, the solar farm sector is expected to grow to approximately $296 billion by 2028. Three Sixty Solar’s unique tower concept is a high-density clean energy solution that uses 90% less land area than traditional solar farms and can be used – Locate adjacent to homes, retail, agriculture and industry, thus minimizing line losses and maximizing power delivery in places where renewable energy sources have been difficult to install to date. In multi-tower applications, developers can leverage the spacing between towers to better leverage ground assets through additional revenue-generating activities. Designed to withstand extreme weather conditions, Three Sixty Solar provides a clean energy solution with minimal impact on the environment and habitats. To find more, visit: www.threesixtysolar.com and please watch our video. To stay informed, please sign up to receive news alerts.
Disclaimer of Forward-Looking Information
This communication contains statements and information that, to the extent they do not represent historical facts, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans or objectives, economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “potential”, “except”, “expect”, “believe”, “intend”, “plan” or “anticipate,” “project,” “estimate,” “forecast,” or the negative thereof or other similar expressions with respect to matters that are not historical facts. Examples of such statements include, but are not limited to, statements regarding the Company’s plans to enter into a binding purchase order to install a solar tower at Rocky Mountain Log and Timber’s headquarters and the timing thereof.
Forward-looking information is based on the assumptions, estimates, analyzes and opinions of management in light of its experience and perception of current trends, conditions and expected developments, as well as other factors that management believes are relevant and reasonable under the circumstances prevailing on the date such statements are made, which may turn out to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key employees and eligible employees continuing their involvement with the Company; The Company’s ability to secure additional financing on reasonable terms; Competitive conditions of the sector in which the company operates; The laws and any amendments thereto apply to the company.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks related to plans The future business of the company; the risk that the Company will not be able to retain key employees; The risk that the Company will not be able to secure financing on reasonable terms or at all, in addition to all other risks described under the heading “Risk Factors” in the Company’s Annual Information Form dated 29 December 2022 filed under the Company Act. Profile on www.sedar.com. Accordingly, readers should not place undue reliance on any such forward-looking information. Furthermore, any forward-looking information speaks only as of the date such statement is made. New factors appear from time to time, and the company’s management cannot predict all of these factors and evaluate in advance the impact of each of these factors on the company’s business or the extent of the impact of any factor or group of factors. It may cause actual results to differ materially from those contained in any forward-looking information. The Company undertakes no obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
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THREE SIXTY SOLAR LIMITED
Phone: +1 (778) 383-6743
Phone: +1 (877) 684-1972