SOURCE: Sunworks, Inc.

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May 02, 2016 08:30 ET

Sunworks Expands Presence in Fast-Growing Commercial Market With $10.1 Million in New Orders

New Opportunities in Emerging Small and Medium-Sized Businesses (SMB) Driving Incremental Demand

ROSEVILLE, CA--(Marketwired - May 02, 2016) -  Sunworks, Inc. (NASDAQ: SUNW), a leading provider of solar power solutions, announced that its Agricultural and Commercial Divisions have been awarded approximately $10.1 million in commercial based solar solution orders ranging from 19kW to 768kW since the end of January 2016. These awards support the company's current growth outlook and are included within their previously issued guidance.

These contracts from new customers represent additional penetration by Sunworks into the SMB market which historically had not been addressable given the economics of solar integration and budget limitations of smaller businesses. However, with the introduction of new financial solutions by an increasing number of commercial and farm focused lenders, the SMB market is increasingly turning to solar as a way to reduce energy costs and lower carbon profiles.

"We are seeing a new market segment open up and significant opportunities for small- to mid-sized businesses that require less than 1 Megawatt of power offset to take advantage of solar," said Abe Emard, COO at Sunworks. "The costs for solar integration have been significantly reduced and with innovative new financing solutions available through Sunworks and our financial partners, solar is more economically viable. We are designing innovative custom solar solutions for motels, golf courses, animal shelters, storage units, and farms throughout California and Nevada."

Jim Nelson, Sunworks CEO added, "Empowering small business owners with highly efficient and affordable solar solutions is good for the environment and the economy. Sunworks is well positioned to capitalize on growth opportunities in this emerging market segment and is focused on driving organic growth in both its residential and commercial divisions."

About Sunworks, Inc.

Sunworks, (formerly known as 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. Sunworks is one of the fastest growing solar systems providers in the western United States, delivering 2.5 kilowatt to multi-megawatt commercial systems. 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. The Company's focus is on putting the customer first, providing the best value systems in the industry, and delivering on what is promised.

To learn more about Sunworks, visit our website at http://sunworksusa.com/.

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. 

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