VANCOUVER, British Columbia, Feb. 07, 2023 (GLOBE NEWSWIRE) -- Three Sixty Solar Ltd. (NEO: VSOL) (OTC: VSOLF) (“Three Sixty,” “Three Sixty Solar,” or the “Company”), a growing venture focused on innovative solar equipment supply to the global marketplace, is pleased to announce that its distribution partner, Archer Cleantech Inc. (“Archer”), has signed a Letter of Intent (the “LOI”) with Managed Film Studios (“MFS”), identifying the Company’s technology as a preferred solution for clean energy supply.
Key Points:
- Three Sixty Solar’s distribution partner, Archer, has signed Agreements with Film Studios.
- MFS intends to install clean energy solutions on planned new construction and retrofitted designs to existing operating film studios.
- Preliminary discussions envision adding 6.8MW of Renewable Power, utilizing eight 200KW solar towers co-located with additional generation equipment at each MFS location over the next 18 months.
Brian Roth, CEO of Three Sixty Solar added, “I’m thrilled that our partnership with Archer has helped them to offer a unique solution to MFS. I believe that our compact use of land for power generation and the ability to leverage the vertical structure for additional uses like lighting, surveillance, rigging, heating, cooling, energy storage and other purposes, will lead to the installation of our solar towers at film sites around the globe. I can’t wait to support both Archer and MFS in the months ahead.”
As previously released, Three Sixty Solar has a Distribution Agreement with Archer, whereby Archer has the rights to promote, sell, and work with the Company to deliver vertical solar towers packaged into Archer’s energy solutions. On January 30, 2023, Archer and MFS signed the LOI, stating that, “MFS intends to utilize Archer as the preferred supplier of clean and ‘alternate’ energy solutions specifically, but not limited to, Three Sixty Solar Towers, off-grid utility interconnections, energy storage systems, energy backup power systems, telecom, and EV charging across North America developments”. Per the LOI, Archer is granted first right of refusal to propose its energy solutions for MFS’s North American studio developments to meet or exceed MFS’s energy requirements.
A statement from the directors of MFS-One (a subsidiary of MFS): “We are very pleased and excited about the technology solutions Archer is bringing to the table to help us develop and operate studios on 100% renewable energy. Specifically, the high density, mixed utility, co-located vertical solar towers will take the spotlight as a solution to many of our site challenges.”
Asked about the LOI, Andrew Sills, COO of Archer, said, “Three Sixty Solar technology has helped us differentiate our energy solutions and enables us to propose several unique advantages for the film studio environment. We believe this technology plays a large role in us being able to confidently engage with providing telecommunications and utility power on a dense footprint. It also allows us to deploy key infrastructure inside the solar tower. All these benefits were key to us receiving the first right of refusal from MFS on their many projects.”
On Behalf of the Board of Directors,
—Brian Roth—
Brian Roth,
Chief Executive Officer & Director
Three Sixty Solar Ltd.
www.threesixtysolar.com
About Three Sixty Solar Ltd. (NEO: VSOL) (OTC: VSOLF)
Three Sixty Solar Ltd. is an innovative alternative energy design, manufacture, and sales organization which focuses on solar equipment supply to the global marketplace. The company’s premier product line is the patent pending SVS series commercial solar tower. According to Statistics MRC, the solar farm sector is set to grow to around $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 adjacent to homes, retail, agriculture, and industry, thus minimizing line loss and maximizing energy delivery in places where renewables have been difficult to install until now. In multi-tower applications, developers can utilize the spaces between towers to better leverage land assets through additional revenue generating activities. Designed to withstand major instances of extreme weather, Three Sixty Solar offers a clean energy solution with minimal environmental and habitat impact. To find our more, visit: www.threesixtysolar.com and please watch our video. To stay informed, please sign up to receive news alerts and follow us on Instagram (@threesixtysolar.vsol), Twitter (@ThreeSixtySolar), and Facebook (@threesixtysolar.vsol).
Forward Looking Information Disclaimer
This letter contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, the installation of the Company’s solar towers on MFS properties and the timing thereof, the plans of MFS to develop future projects, and the benefits to the Company and Archer of the LOI.
Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; the Company’s ability to secure additional financing on reasonable terms; the competitive conditions of the sector in which the Company operates; and laws and any amendments thereto 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 forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described under the heading “Risks 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 any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
Neither the Neo Exchange Inc. nor any securities regulatory authority has approved nor disapproved the contents of this press release.
CONTACT INFORMATION
Three Sixty Solar Ltd.
Investor Relations
Email: investors@threesixtysolar.com
Telephone: +1 (778) 383-6743
Sales & Inquiries
Email: info@threesixtysolar.com
Telephone: +1 (877) 684-1972
