Solar Alliance Energy Inc. is pleased to announce it has signed a Joint Development Agreement ("JDA") with Thompson Machinery Commerce Corporation. ("Thompson Machinery"), one of the premier Caterpillar dealers in the United States. Founded in Nashville in 1944, Thompson Machinery is the exclusive Caterpillar dealer for Middle Tennessee, West Tennessee, and North Mississippi. The Thompson family is also a minority owner of the Nashville Predators NHL hockey team. Solar Alliance will work with Thompson Machinery's Power Division and a Thompson affiliated company, Aries Solar ("Aries"), to provide commercial solar solutions. Thompson Machinery and Aries are uniquely situated to also leverage the existing Caterpillar dealer network throughout the Southeastern U.S. to bring renewable energy solutions to market. In connection with the JDA, Thompson Machinery is also investing US$200,000 in Solar Alliance's previously announced private placement.
"This joint development agreement provides us with access to a new commercial market in the U.S. Southeast and provides additional geographic diversification," said Chairman and CEO Jason Bak. "Thompson Machinery has deep roots in the Tennessee and Mississippi business sectors and is committed to seeking solar options for their customers as part of their distributed power division. Thompson Machinery and Aries are committed to expanding the reach of commercial solar across a broad range of industries. We are proud that Thompson Machinery chose to work with Solar Alliance to realize their solar goals and we view this JDA as our gateway into the Southeast."
"Renewable energy is a long-term strategic focus of Thompson and Aries Solar," states De Thompson V, President and CEO at Thompson Machinery. "Energy demands and technology are evolving quickly. Our goal is to meet those market demands with affordable, renewable energy options. Investing in solar is one major piece to that puzzle and we are excited to announce the Solar Alliance agreement."
Solar Alliance will be working closely with Thompson Machinery and Aries to develop detailed proposals and quotes for a variety of commercial solar projects. Aries is an established turn-key commercial solar energy solution provider with industry experts that focus on engineering, procurement, and construction needs. Aries is licensed to operate in four Southeast U.S. states and collectively their professionals have installed 5 megawatts of solar, including several high-profile installations:
Aries partner Appalachian Electric Cooperative on January 12, 2017 officially powered on its 1.37 megawatt community solar installation in New Market, Tennessee. It was the first utility-scale community solar project in the state.
The Knoxville Zoo took a major step towards sustainability when they worked with Aries to install a 48.02 kW solar photovoltaic system on the elephant house. This project was more than just installing solar panels on a roof; it was a major partnership that included the City of Knoxville, who owns the buildings at the zoo.
The JDA with Thompson Machinery is part of Solar Alliance's plan to grow aggressively through acquisitions, strategic partnerships and organic growth. It follows the previously announced Origination Agreement with Crius Solar, LLC that provides access to the Northeast U.S. residential solar market and the acquisition of a sales team and residential project pipeline in Los Angeles. With the signing of this JDA and the recently announced acquisitions and partnerships, Solar Alliance now has the ability to sell residential and commercial solar projects in California, the Northeast U.S. and the Southeast U.S.
Source: Solar Alliance Energy Inc.
Date: Jun 19, 2017