–Power generation increased by 300%
Vancouver, British Columbia, October 21, 2022 (GLOBE NEWSWIRE) — Three Sixty Solar Ltd. (NEO: VSOL) (OTC: VSOLF) (“Three Sixty”, “Three Sixty Solar” or the “Company”), an innovative alternative energy design, manufacturing and sales organization focused on supplying to the global market, is delighted to announce the development of an all-new large-format solar utility tower for megawatt-scale multi-tower applications.
With growing interest in the company’s innovative solar tower product line, Three Sixty Solar’s development team and partners implemented a project to design a significantly improved version of the base tower configuration. . The result is the successful engineering of an all-new model based on design criteria that called for a large-format tower capable of withstanding wind, earthquakes, and associated structural loads with a vertical rise of up to 120′ height with electrical production generated by solar energy up to 250 kW nominal power. This is an increase of over 300% over the current maximum tower design.
With the introduction of this new model, three sixty solar will be able to install a full megawatt (enough to power 100 homes*) of rated power using just four towers occupying less than 10,000 square feet of land. This equates to less than 5% of the land that would be required for a typical ground-mounted solar installation of the same power rating.
CEO of Three Sixty Solar, Brian Roth says, “Installing more power on fewer pylons and in less space allows us to simplify electrical systems, reduce costs and improve efficiency for our customers. The larger format also allows us to fit more utilities inside the tower, including heavy-duty battery storage systems, telecommunications equipment and more. With wide-scale applicability, I anticipate this new design is poised to become a game-changing opportunity on our path to deploying our previously stated goal of 500 megawatts of power over the next five years. We believe we are on track to unlock significant shareholder value as our product line expands to meet the growing demands of a more environmentally responsible society.
three sixty solar has made additional payments in accordance with its previously announced commitment with Creative Direct Marketing Group, Inc. (“CDMG”) (Founder and CEO: Craig Huey; address: 1313 4th ave North Nashville, Tennessee 37208, United States; phone: 615-814-6633) for marketing services.
CDMG will create, as appropriate, campaigns, features, newsalogs, email series, native and display advertisements for physical and digital media, set up and manage remarketing campaigns, and attract attention to the activity of the company, taking into account $802,500 (WE). Promotional activity will be through print media, email and social media.
On behalf of the Board of Directors,
—Brian Roth—
Brian Roth,
Chairman and Chief Executive Officer and Director
Three Sixty Solar Ltd.
www.threesixtysolar.com
* Based on 1,000 hours of electricity production per year and an average consumption of 10,000 kWH per year and per household. Electricity production and average consumption vary by location.
About Three Sixty Solar Ltd. (NEO:VSOL) (OTC:VSOLF)
Three Sixty Solar Ltd. is an innovative alternative energy design, manufacturing and sales organization focused on providing solar equipment to the global market. The company’s primary product line is the patent-pending SVS Series commercial solar tower. According to Statistics MRC, the solar farm sector is expected to grow by approximately $296 billion by 2028. Three Sixty Solar’s unique tower concept is a high-density clean energy solution that uses up to 90% less land space than conventional solar farms and can co-locate next to homes , retail, agriculture and industry, minimizing line losses. and maximizing energy delivery in places where renewable energy has been difficult to install so far. In multi-tower applications, developers can use the spaces between towers to better leverage land assets through additional revenue-generating activities. Designed to withstand major instances of extreme weather conditions, three sixty solar offers a clean energy solution with minimal impact on the environment and habitat. To learn more, visit: www.threesixtysolar.com and watch our video. To stay informed, sign up for news alerts and follow us on Instagram (@threesixtysolar.vsol), Twitter (@ThreeSixtySolar) and Facebook (@threesixtysolar.vsol).
Disclaimer Regarding Forward-Looking Information
This letter contains statements and information which, to the extent that they are not historical facts, may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information may include financial and other projections, as well as statements regarding future economic plans, objectives or performance, or assumptions underlying any of the foregoing. In some instances, forward-looking statements may be identified by words such as “may”, “would”, “could”, “will”, “likely”, “unless”, “anticipate”, “believe”, “have the ‘intention’, ‘plan’, ‘forecast’, ‘project’, ‘estimate’, ‘prospect’, or their negative form or other similar expressions relating to matters which are not historical facts. Examples of such statements include, but are not limited to, statements regarding the disruptive potential of the Company’s solar towers, the locations in which solar towers may be installed, and the Company’s ability to install solar towers generating at less than 500 MW of electricity. over the next five years.
Forward-looking information is based on management’s assumptions, estimates, analyzes and opinions made in light of its experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances as of the date such statements are made, but which may prove to be incorrect. Important factors and assumptions used to develop the forward-looking information contained in this press release include, but are not limited to, key personnel and qualified employees who continue their involvement with the company; the Company’s ability to obtain additional financing on reasonable terms; the competitive conditions of the industry in which the Company operates; and the laws and their amendments applicable to the Company.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the information. forward-looking, including, without limitation, risks related to the Company’s future business plans; the risks that the Company may not be able to retain its key personnel; the risks that the Company may not be able to obtain financing on reasonable terms or at all, and all other risks described under the heading “Risk Factors” in the Company’s Filing Statement dated August 3, 2022 filed under the Company’s profile at www.sedar.com. Accordingly, readers should not place undue reliance on such forward-looking information. Further, any forward-looking information speaks only as of the date such statement is made. New factors emerge from time to time, and it is not possible for the management of the Company to predict all of these factors and to assess in advance the impact of each of these factors on the Company’s business or the extent to which any factor, or combination of factors, could cause actual results to differ materially from those contained in the forward-looking information. The Company undertakes no obligation to update forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unforeseen events, except as required by law, including securities laws.
Neither the Neo Bourse Inc. nor has any securities regulatory authority approved or disapproved of the contents of this press release.
CONTACT INFORMATION
Three Sixty Solar Ltd.
Investor Relations
Email: investors@threesixtysolar.com
Phone: +1 (778) 383-6743
Sales and Inquiries
Email: info@threesixtysolar.com
Telephone: +1 (877) 684-1972
Source: Three Sixty Solar Ltd.
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