SOURCE: Solar3D, Inc.

Solar3D, Inc.

August 03, 2015 08:30 ET

Solar3D's SUNworks Division Signs $2.5 Million Contract With Fresno-Based Baloian Packing

Company to Install Approximately 1.1-Megawatt Solar Power System for Prominent Agricultural Organization

SANTA BARBARA, CA--(Marketwired - August 03, 2015) - Solar3D, Inc. (NASDAQ: SLTD), a leading provider of solar power solutions and the developer of a proprietary high efficiency solar cell, announced today that its operating division SUNworks has been contracted by Baloian Packing Company, Inc. to design and install a solar system designed to achieve significant cost savings for the agricultural organization.

Family-owned and operated since 1917, Baloian Packing grows and packs vegetable products including but not limited to peppers, onions, and leaf lettuce. Based in Fresno, the Company distributes high quality fresh produce throughout the United States, Canada and Mexico. Baloian is known for its sustainability practices surrounding water conservation, recycling, and promoting safe working environments.

SUNworks will design and install a 1,098 kilowatt SunPower roof solar system. The system is designed to achieve cost savings of approximately $8,750,000 over the next 25 years, with year one savings exceeding $250,000. Baloian will recoup their investment in about three years.

"We are pleased to work alongside an organization with the longevity of Baloian, especially keeping in mind their commitment to sustainability within their region," said Abe Emard, CEO of SUNworks. "Our team is widely recognized for our dedication to excellence in the farming sector, one that consistently generates cost savings for our customers."

"We are very encouraged by the increased size and scope of projects that our subsidiaries have been contracted for of late, ones that we believe are reflective of our growing footprint in the Northern California region among commercial and agricultural customers," said Jim Nelson, CEO of Solar3D. "As we pursue our growth-by-acquisition model, Solar3D will continue to establish itself as a dominant solar company, increasing revenue and impacting shareholder value."

About Solar3D, Inc.

Solar3D, a leading provider of solar power solutions, is focused on the design, installation and management of solar power systems for commercial, agricultural and residential customers. Through its wholly owned subsidiaries, Solar3D is one of the fastest growing solar systems providers in California delivering 2.5 kilowatt to multi-megawatt commercial systems. Solar3D's technology division is developing a patent-pending 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity. The Solar3D Cell collects sunlight from a wide angle and lets light bounce around in 3-dimensional microstructures on the solar cell surface. The Company's mission is to further the widespread adoption of solar power by deploying affordable, state-of-the-art systems and developing breakthrough new solar technologies.

To learn more about Solar3D, visit our website at

About SUNworks

SUNworks is a commercial and residential wholly owned subsidiary of Solar3D, Inc. (NASDAQ: SLTD), a leading solar power company and the developer of a proprietary, high efficiency solar cell. SUNworks is focused on the design, installation and management of solar systems for agricultural, commercial, and residential customers. The Company has delivered hundreds of 2.5 kilowatt to 1-megawatt commercial systems and has the capability to deliver systems as large as 25 megawatts. SUNworks serves commercial, agricultural and residential customers throughout California and Nevada.

Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These risks include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, products, and prospects for sales, failure to commercialize our technology, failure of technology to perform as expected, failure to earn profit or revenue, higher costs than expected, persistent operating losses, ownership dilution, inability to repay debt, failure of acquired businesses to perform as expected, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.

Contact Information