Vancouver, Canada, May 2nd, 2018 – Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V: SOLR) reports that it has filed its audited consolidated financial statements and related management discussion and analysis for the year ended December 31, 2017. Both are available under the Company’s profile on SEDAR at www.sedar.com.
Key results show a significant increase in revenue from the third quarter to the fourth quarter as the result of construction of several projects in the Company’s expanding commercial project pipeline. The Company recorded $2,110,390 in revenue for the quarter ended December 31, 2017 compared to $574,103 for the previous quarter. The revenue increase is the result of the Company’s increased focus on commercial and industrial (“C&I”) solar projects following the acquisition of a commercial solar company in November 2017 and its first contract with a Fortune Global 500 customer.
“We start 2018 poised to scale our business significantly. We have expanded our technical capabilities and elevated our performance for the sales and installation cycle of larger solar projects. Our expansion into the development and sale of larger solar projects has translated into a significant increase in revenue in just one quarter,” said Chairman and CEO Jason Bak. “We will be allocating more resources to these larger scale solar projects for 2018 as we grow and leverage off a significant pipeline and an excellent track record for our commercial team.”
Solar Alliance expects to announce additional C&I projects in the coming months as pipeline opportunities are converted to revenue.
Jason Bak, Chairman and CEO
About Solar Alliance Energy Inc. (www.solaralliance.com)
Solar Alliance is an international energy solutions provider focused on residential, commercial and industrial solar installations. The Company is licensed to operate in California, Tennessee, North/South Carolina and Kentucky and has an expanding pipeline of solar projects. Since it was founded in 2003, the Company has developed wind and solar projects that provide enough electricity to power 150,000 homes. Solar Alliance is committed to an exceptional customer experience, effective marketing campaigns and superior lead generation in order to drive sales and generate value for shareholders. Our passion is improving life through ingenuity, simplicity and freedom of choice. We make solar simple and our goal is to install solar on every available rooftop in America.
Statements in this news release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, constitute Forward-looking statements. The words “would”, “will”, “expected” and “estimated” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different than those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to the ability to raise sufficient capital, changes in economic conditions or financial markets, litigation, legislative or other judicial, regulatory and political competitive developments and technological or operational difficulties. Consequently, actual results may vary materially from those described in the forward-looking statements.
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”