Three Sixty Solar Inks MOU For Technology Deployment in Middle East, North Africa, and Turkey

VANCOUVER, British Columbia, Jan. 10, 2024 (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 the signing of a Memorandum of Understanding (MOU) for the sourcing, fabrication, implementation, and distribution of vertical solar tower systems within the Middle East, North Africa, and Turkey.

Key Points:

• On January 2, 2024, Three Sixty Solar signed the MOU with a consortium of partners including Infraforward Strategies (US), Tareeq Al-Ahmadi Company (Iraq), Fibercom Company (Turkey), and Zamil Group Trade & Services Company (KSA).
• The MOU focuses on collectively rolling out Three Sixty Solar’s vertical solar tower technology in the Middle East, North Africa, and Turkey, with opportunities for future geographic expansion upon success in the defined region.
• The partners have already begun cooperative efforts on material and fabrication sourcing in the region as well as begun exploring commercial opportunities in Iraq, Saudi Arabia and Turkey with further work kicking off the week of January 15 now that the MOU is signed.
  

Infraforward Strategies’ Co-Founder and Managing Partner, Ahmed Alomary states, “We are excited to have signed this MOU with Three Sixty Solar and our partners in the Middle East and Turkey. Since meeting Three Sixty Solar early in 2023, we have held the belief that their technology can be well applied in the renewable energy and telecom projects that we have been working on overseas. With the addition of our partners in Iraq and Saudi Arabia we believe that we can achieve deployment of the technology quickly and with our partners in Turkey we believe we can make the costs competitive.”

Collectively, the signatories to the MOU have extensive experience in building infrastructure projects focused on infrastructure in Iraq, Saudi Arabia, and Turkey. Infraforward Strategies is an international leader in the development of digital infrastructure integrated with renewable energy systems. Tareeq Al-Ahmadi Company is an experienced engineering, construction and development company providing turnkey systems in Iraq to support next generation technologies. Similarly, Fibercom is an engineering, construction and development company providing turnkey systems in Turkey. Zamil Group Trade and Services Company is a well-established trading company providing added value to its oversees partners with a wide range of products and services that it provides to eight market segments in Saudi Arabia including a renewable energy product set along with metal sourcing, fabrication, and sales channel relationships.