Solar3D's Newest Acquisition Lands $2.4 Million Contract
Solar3D, Inc. (SLTD), a provider of solar power solutions and the developer of a proprietary high efficiency solar cell, has announced that its MD Energy subsidiary has secured a $2.4 million contract from the Rancho Mirage Public Library to install a complex solar system designed to protect against rising electric utility costs.
Located in Southern California, the Rancho Mirage Public Library sought to implement a solar program that would reduce dependency on local utility providers while ultimately resulting in long-term cost savings. In the near term, MD Energy expects to finalize the design for the project, complete the construction documents and undertake the permitting phase of construction.
"This transaction is a direct result of our reputation for providing stellar customer service throughout the entire Southern California region," said Danny Mitchell, CEO of MD Energy. "Municipalities and other commercial entities depend on our team of experienced solar professionals to design and install solar systems that best fit their long-term needs. We are proud to work directly with the City of Rancho Mirage to develop a system that will provide long-term cost savings while setting a positive example of energy sustainability within the community."
"MD Energy's recent agreement with Rancho Mirage is a prime example of why we were so enthusiastic about acquiring this company and making it part of our rapidly growing Solar3D organization," said Jim Nelson, CEO of Solar3D. "This specific transaction is a good example of why MD Energy fit the criteria for our growth-by-acquisition strategy. They are committed to our "˜Solar 2.0' model that provides the cost-efficient flexibility that commercial and residential property owners seek when choosing to go solar. This is a key reason why we expect all of our operating subsidiaries to continue attracting substantially more customers, which will drive our future revenues."
