The Peck Company Holdings, Inc. Closes Acquisition of iSun Energy LLC, Changes Name to iSun, Inc. and Ticker Symbol to ISUN

Nachrichtenquelle: Business Wire (engl.)
21.01.2021, 14:29  |  203   |   |   

iSun, Inc. (NASDAQ:ISUN) ( “iSun”), formerly The Peck Company Holdings, Inc. (“Peck”), a leading commercial solar engineering, procurement and construction (“EPC”) company and iSun Energy LLC (“iSun”), a provider of innovative solar power, electric mobility and smart city solutions for government, commercial, retail, academic and data-center projects, today announced that they have closed on the acquisition of iSun Energy LLC, announced on January 5th, 2021.

Merger Rationale

iSun (formerly Peck) established a dominant position over the past 50 years as a leading electrical and data contractor, as well as the largest solar EPC (engineering, procurement and construction) in Vermont, focused on high-quality commercial, industrial and small-utility scale solar projects. It has constructed over 200 megawatts of solar projects to date (enough to power 38,000 homes). Despite COVID-related challenges last year, there were no project cancellations. Peck has been executing a disciplined growth plan since becoming a public company in June 2019, and an accretive merger & acquisition strategy has been a top priority. Acquiring iSun and the iSun Brand and its innovations is consistent with the Company’s evolution toward serving its customers as a full-service energy solutions provider. Furthermore, adding higher margin products and energy services will have a positive impact on typical solar EPC margins. Combining a profitable EPC business for solar, electrical and data contracting with award-winning products and platforms that are modular, scalable and connected is a powerful combination that differentiates the Company from other solar or EV (electric vehicle) charging companies.

Highlights

  • iSun now trades on Nasdaq as ISUN and replaces PECK
  • iSun near term pipeline across New England, New York and other locations to be announced shortly.
  • Combined group backlog reaches USD $60M
  • The iSun Brand companies will continue to provide its trusted solar, electrical, and data services to its commercial and industrial customers
  • The iSun Brand offerings include the iSun Energy & Mobility Hub, a solar canopy for EV charging, and the iSun Oasis Smart Solar Bench will immediately begin to be offered by the entire group to its current and new prospect base.
  • Timely market expansion capitalizes on the Biden administration’s plan to make major public investments in renewables and electric mobility infrastructure, including in 500,000 electric vehicle charging stations.
  • Industry experts anticipate 100 GWs of solar infrastructure will be constructed over the next 5 years, representing 50% growth.1

iSun Brand Products

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The Peck Company Holdings, Inc. Closes Acquisition of iSun Energy LLC, Changes Name to iSun, Inc. and Ticker Symbol to ISUN iSun, Inc. (NASDAQ:ISUN) ( “iSun”), formerly The Peck Company Holdings, Inc. (“Peck”), a leading commercial solar engineering, procurement and construction (“EPC”) company and iSun Energy LLC (“iSun”), a provider of innovative solar power, electric …

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