Complete Solar’s Blue Raven Signs Installation Agreement with Sunder Energy
Rhea-AI Summary
Complete Solar Holdings (Nasdaq: CSLR) announces that its division Blue Raven Solar has signed an installation sales agreement with Sunder Energy, a major residential solar sales company operating in 48 states. Sunder Energy performs approximately 12,000 solar installations annually, generating estimated revenue of $400 million for residential installers. The partnership leverages Complete Solar's extensive service footprint and recent SunPower asset acquisition to meet Sunder's operational requirements as a large-scale sales company.
Positive
- Partnership with Sunder Energy provides access to 48-state market coverage
- Potential revenue opportunity from Sunder's 12,000 annual installations ($400M revenue generation)
- Expansion of New Dealer channel through major sales partner addition
Negative
- None.
News Market Reaction – CSLR
On the day this news was published, CSLR declined 1.02%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
LEHI, Utah, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Blue Raven Solar (“BRS”) a division of Complete Solar Holdings, Inc. (“Complete Solar” or the “Company”) (Nasdaq: CSLR), is pleased to announce it has signed an installation sales agreement with Sunder Energy (“Sunder”), one of the largest residential sales companies in the US. Sunder sells solar in 48 states, executing approximately 12,000 solar installations per year, generating estimated revenue of
Eric Nielsen, CEO of Sunder said, "We look forward to working with Complete Solar as an installation partner. It is rare to find an install partner with such a large service footprint, capable of handling the operational needs of a sales company of Sunder’s size. Complete Solar’s acquisition of SunPower’s assets has made this a great partnership for Sunder Energy."
Cole Farmer, Vice President of Sales for Complete Solar added, "This is a great opportunity for CSLR to add a large sales partner to the New Dealer channel at Complete Solar. Sunder is a powerhouse in the residential solar space. I have a long history with Sunder leadership and know first-hand how impactful they are as a sales company, and I look forward to working with them again."
About Complete Solar
With its recent acquisition of SunPower assets, Complete Solar has become a leading solar services provider in North America. Complete Solar’s digital platform and installation services support energy needs for customers wishing to make the transition to a more energy-efficient lifestyle. For more information visit https://www.completesolar.com.
Forward Looking Statements
This press release may contain certain forward-looking statements within the meaning of the federal securities laws with respect to the referenced transaction. These forward-looking statements generally are identified by the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions, but the absence of these words does not mean that a statement is not a forward-looking statement. Forward-looking statements are forecasts, predictions, projections and other statements about future events that are based on current expectations, hopes, beliefs, intentions, strategies and assumptions, including statements relating to the installation agreement included in this press release, and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release and the price of Complete Solar’s securities may be volatile due to a variety of factors, including but not limited to changes in the applicable competitive or regulatory landscapes, variations in operating performance across competitors, changes in laws and regulations affecting Complete Solar’s business, and changes in the combined capital structure; the ability to implement business plans, forecasts, and the evolution of the markets in which Complete Solar will compete.
Readers should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Complete Solar’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on April 1, 2024 and the other documents that Complete Solar files with the SEC, including Quarterly Reports on Form 10-Q. Such filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Complete Solar assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
For inquiries, please contact:
Sioban Hickie
Head of Investor Relations
Phone: +1 (801) 477-5847
InvestorRelations@CompleteSolar.com
Public Relations:
PR@completesolar.com
Source: Complete Solar, Inc.
FAQ
What is the value of Sunder Energy's annual installations that Complete Solar (CSLR) could potentially service?
How many states does the Complete Solar (CSLR) and Sunder Energy partnership cover?
What recent acquisition helped Complete Solar (CSLR) secure the Sunder Energy partnership?
