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LONDON, UK / ACCESSWIRE / August 18, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Sunworks, Inc. (NASDAQ: SUNW), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=SUNW. The Company announced on August 16, 2017, its plan for the construction of a new 1.4 MW solar power project across nine elementary and middle school locations in the Los Altos School District (LASD). Sunworks' in-house construction team will undertake the management of all of the engineering, procurement, and construction for this project. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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LASD selected ForeFront Power through a competitive process to provide the turn-key solar power systems, which further contracted Sunworks, based on its proven record of superiority and unmatched experience in commercial and industrial solar project installation, as well as an exceptional track record in the California public sector.
Benefits of Sunworks' Solar System Installation
- Significant energy cost savings: The solar power project will assist LASD in reducing energy costs and establish a definitive, long-term pricing structure that relieves the schools electricity budget burdens.
- Production of energy to offset carbon dioxide emissions: Each of the school's solar parking canopy area will be integrated with solar panels, resulting in the production of enough energy to offset 1,476 metric tons of annual carbon dioxide emissions.
- Allow view of greenhouse gas savings: All nine school lobbies will be fitted with a display monitor that will allow students, staff, and visitors to view greenhouse gas savings in real-time.
Project in LASD Represents Sunworks' Largest Public Works Project to Date
Chief Executive Officer of Sunworks, Chuck Cargile, mentioned that the Company, together with ForeFront Power, is excited to help LASD optimize their energy costs and establish a more accurate, monthly power payment schedule. The savings realized at each of the nine locations will allow redirecting the funds for educational program initiatives that directly benefit the students. The positive results will help tomorrow's generation understand the positive impact that sustainable energy has on the environment.
Cargile further added that this solar power project in LASD represents the Company's largest public works project to date. Sunworks is confident that its relationship with ForeFront Power will lead to additional public works projects and advance its efforts to expand the presence in this large and growing market.
Sunworks' Recent Solar Projects
- On July 27, 2017, Sunworks announced a new 665 kW solar power construction project for Togninali Farms, a 3rd generation tomato farm in Stockton, California.
- On August 01, 2017, the Company signed an agreement with The Wiseman Co., a leading commercial real estate holdings firm, to install a 370 kilowatt (kW) solar system at Fairfield, California.
About Sunworks, Inc.
Incorporated in 1983, Sunworks has emerged as a premier provider of solar power solutions for both consumers and businesses. The Company is committed to quality construction practices that always exceed industry standards and uphold our ideals of ethics and safety. Headquartered in Roseville, California, Sunworks is a member of the Solar Energy Industries Association (SEIA).
About ForeFront Power
ForeFront Power is a leading solar power developer, and has more than a decade of renewable industry experience, serving business, public sector, and wholesale power customers around the world. The Company 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.
Last Close Stock Review
On Thursday, August 17, 2017, the stock closed the trading session at $1.66, marginally down 0.60% from its previous closing price of $1.67. A total volume of 31.01 thousand shares have exchanged hands. Sunworks' stock price surged 16.08% in the last three months. At Thursday's closing price, the stock's net capitalization stands at $38.38 million.
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