Solar3D, a leading provider of solar power solutions and the developer of a proprietary high efficiency solar cell, today commented on its growth-by-acquisition strategy intended to consolidate additional companies with strong revenue under the Solar3D brand. The Company's goal is to build a more competitive entity than what currently exists in the US solar market.
Solar3D initiated its growth-by-acquisition strategy in 2013 with the purchase of SUNworks, a Roseville, CA-based provider of design, installation and management services of solar systems for commercial customers. The Company also recently completed the purchase of profitable Cucamonga, CA-based MD Energy, a premier provider of solar projects.
On March 4, the company uplisted to The NASDAQ Stock Market, a move designed to increase appeal to institutional investors and analysts. The Company also received a significant capital infusion, the proceeds of which can be used to acquire additional companies in the high growth solar market.
by Material (Silicon, CIGS, CdTe, Perovskite, Organic Photovoltaic, Quantum Dot), Component (Modules, Inverters, BOS), Installation Type (Ground-mounted, Building-integrated, Floating), Cell Type and Region
Download free sample pages"The momentum gained from acquiring SUNworks and MD Energy, coupled with greater financial resources and uplisting to the NASDAQ has positioned us for substantial growth in 2015 and beyond," said Jim Nelson, CEO of Solar3D. "Our growth-by-acquisition model is essential to our long-term strategy. We are highly focused on identifying profitable solar companies with strong leadership that fit our criteria."
Mr. Nelson concluded, "Thus far, our operating subsidiaries have outperformed our expectations. They have increased sales by offering our 'Solar 2.0' model that provides the cost-efficient flexibility that commercial and residential property owners seek when choosing to go solar. We are confident that this trend will continue due to the explosive growth within the solar industry."
A new report from the U.S. Energy Information Administration finds that the electricity generated from renewable sources grew a lot faster than electricity generated by fossil fuels last year. In fact, solar more than doubled.
