Vancouver, Canada, and Knoxville, Tennessee, March 18th, 2019 – Solar Alliance Energy Inc. (‘Solar Alliance’) or (the ‘Company’) (TSX-V: SOLR) is pleased to announce it has signed a Letter of Intent (the “Agreement”) with NuYen Blockchain Inc. (“NuYen”) for the design, engineering and construction management of a 3.84-megawatt (“MW”) ground and roof mount solar project in Murphysboro, Illinois. The project, located at the NuYen data centre facility in Murphysboro, would be the Company’s largest to date and is equivalent to building 750 average-sized residential solar systems.
“This project is a great example of the positive benefits of solar energy for data centres and commercial operations that want to reduce their electricity costs and offset their fossil fuel use,” said CEO Myke Clark. “This project also illustrates success our team is experiencing in building out our project pipeline. This agreement comes as we are close to completing the construction of a 2.4 MW for a Fortune Global 500 company in the Southeast U.S. One of our goals for 2019 is to sign agreements to build an additional 2-3 large scale solar projects and this is a large step on that path. Combined with our innovative SunBox residential product, we are excited at the prospects for growth in 2019,” concluded Clark.
“NuYen Blockchain Corporation is very proud and excited to be involved in the construction of a 3.8 MW of solar energy enabling it to effectively reduce its costs and energy footprint”, said NuYen President Greg Costello. “NuYen plans on continuing its solar expansion over its future data centre and blockchain developments and to do its very best to minimise and manage its fossil fuel usage moving forward.”
* Artist’s rendering of solar installation at the planned Murphysboro data centre provided by NuYen.
Solar Alliance sees long term, sustained growth occurring in the commercial solar market and the new home residential solar market. The Company has focused its resources on three business units: large scale commercial, mid-sized commercial and SunBox. In addition to the Company goal of signing 2-3 large scale commercial projects in 2019, Solar Alliance is also targeting an expansion of our commercial sales team to realize a 50% increase in sales of small- to mid-sized commercial solar projects and fully launching the SunBox residential product. Achieving these goals in 2019 would result in a material increase in revenue.
About NuYen Blockchain (www.nuyen.io)
Specializing in digital assets that monetize the blockchain ecosystem, NuYen Blockchain is a full-service, cryptocurrency solutions provider that is challenging and disrupting the financial status-quo by leading the way for a decentralized currency economy. From the procurement of key technologies including state-of-the-art mining facilities, to offering OTC market services and an expert research and development consultancy, NuYen Blockchain is committed to its mission of becoming a global leader of blockchain-based technologies by 2020.
Myke Clark, CEO
About Solar Alliance Energy Inc. (www.solaralliance.com)
Solar Alliance is an energy solutions provider focused on residential, commercial and industrial solar installations. The Company operates 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 $1 billion of wind and solar projects that provide enough electricity to power 150,000 homes. Our passion is improving life through ingenuity, simplicity and freedom of choice. Solar Alliance reduces or eliminates customers’ vulnerability to rising energy costs, offers an environmentally-friendly source of electricity generation, and provides affordable, turnkey clean energy solutions.
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.
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