Three Sixty Solar Signs Letter of Intent for First US Tower Sale

--Tower to include proprietary broadband technology

VANCOUVER, British Columbia, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Three Sixty Solar Ltd. (NEO: VSOL) (OTC: VSOLF) (“Three Sixty,” “Three Sixty Solar,” or the “Company”), an innovative alternative energy design, manufacture, and sales organization focused on solar equipment supply to the global marketplace, is pleased to announce that they have signed a non-binding letter of intent (the “LOI”) with Rocky Mountain Log and Timber (“RMLT”) to proceed with the sale and installation of a Three Sixty Solar Tower in Hamilton, MT.

Key Points:

• Three Sixty has signed an LOI with RMLT indicating their intent to install a solar tower at their headquarters in Hamilton.
• Power generated from the tower will be used to offset power requirements of their operations.
• Energy optimization study underway, with the goal to reach a binding purchase order by November 30, 2023.
• Design includes installation of technology from Hook’d Broadband on the solar tower to provide broadband connectivity.

Three Sixty Solar’s CEO, Brian Roth states, “I’m thrilled to have signed the letter of intent to secure our first commercial sale in the United States with Rocky Mountain. Rocky Mountain are focused on providing premium homes, often in remote locations. I believe that our solar tower technology is an ideal solution to partner with many of the communities that they help build, and I’m excited for the opportunity to demonstrate the technology at their headquarters. I look forward to working with Jake and his team to deploy the tower in Hamilton and to then offer it cooperatively to their customers throughout the northwest.”

Rocky Mountain Log and Timber is a builder of premium log homes based in Hamilton, Montana, and operating throughout the northwestern United States. The potential order is based off the results energy optimization study which has already started. If the study is positive, a binding purchase order may be completed as soon as the end of November 2023.

Rocky Mountain Log and Timber owner, Jake Hayes, adds, “We were looking for ways to add renewable energy to power our operations and to offer to our customers. I believe that the solar tower technology that Three Sixty has developed is a perfect fit for us to generate localized independent power. I’m also excited to include the Hook’d Broadband technology and be able to provide a connectivity solution to our clients on future projects. We are looking forward to working with Three Sixty and becoming an advocate for the solar tower solution.”