ISUN INC Stock Price, News & Analysis

iSun, Inc. (NASDAQ: ISUN) has secured contracts for Solar Engineering, Procurement, and Construction (EPC) services, valued at over $6.7 million, across three projects in Maine. These projects are expected to produce more than 20 MW of solar energy. This achievement demonstrates iSun’s ability to expand into new markets and build customer relations, reflecting its 50 years of construction experience. The contracts align with iSun's growth strategy aimed at enhancing its Industrial and Utility EPC business in New England.

iSun, Inc. (NASDAQ:ISUN) has secured a $30 million commitment from Fusion Renewable for development and professional services, reinforcing its strategic growth plan. This includes $8.25 million from executed contracts and an anticipated $21.75 million in future contracts. The revenue is expected to enhance cash flows and margins, recognized over the next 12 months. iSun's acquisition of Oakwood Construction Services in 2021 has positioned it to capitalize on this new revenue stream, further solidifying its role in U.S. solar projects.

iSun, Inc. (NASDAQ: ISUN) has successfully completed its acquisition of SunCommon as of September 8, 2021. This strategic move positions iSun as a leading full-service solar installation provider across multiple markets, including residential and commercial sectors, enhancing their offering in electric vehicle charging infrastructure. The transaction is valued at approximately $25.5 million in cash and $1.5 million in working capital, expected to be accretive to earnings by Q4 2021. Anticipated synergies include $1.25 million in savings during the first year.

iSun, Inc. (NASDAQ: ISUN) announces a significant project as Fusion Renewable selects it for turnkey EPC services for 448MWdc solar projects in Alabama, sufficient to power over 85,000 homes. The total EPC and REC contracts could exceed $500 million, with a $7 million services contract starting immediately. This marks iSun's second venture into the utility-scale EPC market and follows its acquisition of Oakwood Construction Services. The company aims to bolster clean energy adoption and anticipates construction commencing in 2022.

iSun, Inc. (NASDAQ: ISUN) announced the acquisition of SolarCommunities Inc ("SunCommon") to enhance its residential strategy on the East Coast. The deal, valued at $39 million, includes $24 million in cash and $16 million in stock. Expected to double projected revenue for 2021, this merger establishes iSun as a leader in residential and commercial solar installations, aiming for $1.25 million in synergies in the first year. The transaction positions the combined entity to capture significant market opportunities.

iSun, Inc. (NASDAQ: ISUN) has entered a definitive agreement to acquire SolarCommunities Inc (SunCommon) through a combination of $24 million in cash and $16 million in stock. This acquisition will create a leading full-service solar installation company on the East Coast, enhancing market presence and leveraging SunCommon's brand for growth. The transaction is expected to double iSun's projected revenue for 2021 and offer synergies worth $1.25 million in the first year. Management anticipates an immediate positive impact on earnings.

iSun, Inc. (NASDAQ: ISUN) has secured 11 contracts for Solar Engineering, Procurement, and Construction (EPC) services in Vermont, with an estimated value exceeding $7.2 million. This portfolio reinforces iSun's growth strategy and highlights its legacy of building sustainable customer relationships over the past 50 years. CEO Jeffrey Peck stated that these awards reflect the company's established reputation in the region and the increasing demand for clean energy solutions. iSun aims to continue leveraging its experience as demand for renewable energy grows.

iSun, Inc. (NASDAQ: ISUN) has been awarded a portfolio of projects for Engineering, Procurement, and Construction services in New Hampshire, with an estimated contract value exceeding $7.2 million. This award aligns with iSun's growth strategy and underscores its ability to expand into new markets while fostering strong customer relationships. iSun's CEO, Jeffrey Peck, emphasized that these contracts reflect the progress made toward doubling revenue in 2021, despite challenges posed by COVID-19.

iSun, Inc. (NASDAQ: ISUN) reported strong second quarter results with a year-to-date revenue of $11.6 million, marking a 71.9% increase year-over-year due to new contracts. The backlog stood at $77 million, reflecting stability and significant growth compared to the previous year. The company maintains a robust balance sheet with $20 million in cash. Future plans include a $75 million expansion into residential and commercial sectors and ongoing evaluations of 5 GW of utility-scale projects.