DENVER, December 11, 2018 – Risen Energy (China – Shenzhen: 300118) reported on November 19, 2018 it has been listed by Exawatt Power Rankings as a top three solar PV module manufacturer for the second quarter of 2018. This achievement reflects Risen Energy’s outstanding success in developing industry-leading PV module technology and delivering professional project services.
“We are now fulfilling purchase orders from RGS to enablethem to meet their customer demand,” said Bypina Veerraju Chaudary, Risen Energy’s chief sales and marketing officer. “We have begun manufacturing solar components and wire harness connectors for POWERHOUSE™ and expect to increase our production schedule in the coming months. Our deep experience working with new technology makes us ideally suited to help RGS continually improve and reduce the costs to manufacture POWERHOUSE™.”
Dennis Lacey, RGS Energy’s CEO, commented: “We believe our POWERHOUSE™ customers will have the peace of mind knowing that the solar component is made by utilizing Risen’s expertise, delivered by a strong Tier 1 solar manufacturer. Using technology developed by the Dow Chemical Company and parts supplied by a stellar partner such as Risen, we believe that our solar shingle enables us to offer unsurpassed value proposition in today’s market place.”
RGS Energy plans to begin sales and installation of POWERHOUSE™ 3.0 solar shingles immediately following UL 1703 certification. RGS has received written reservations for POWERHOUSE™ 3.0 now total more than $76 million in potential annual revenue from more than 45 roofing dealers across 18 states and Canada, up from the $60 million the company reported last week.
By coupling new roofing with visually stunning, energy-saving solar shingles, POWERHOUSE™ 3.0 addresses the unmet need of residential homeowners with asphalt rooftops, which represent about 85 percent of U.S. homes. More than a thousand homeowners are currently enjoying the cost-savings and aesthetic benefits of earlier generations of POWERHOUSE™.
About Risen Energy Co.
As a tri-decade high-tech enterprise, Risen Energy has more than 45 key business core technologies, and has established a national level photovoltaic laboratory, which is independent and received CNAS certification. The laboratory can carry out 54 project tests according to EC61215, IEC61730-2 and UL1703, and provide support for the design, development and quality control of the company and other photovoltaic enterprises.
Risen Energy’s products are exported to more than 30 countries and regions such as Europe, America, South Africa and Southeast Asia. Moreover, Risen Energy provides professional PV product, technology and focused solutions to customers, encircling mutual goals and building long term solar relationships. For more information, visit risenenergy.com.
Exawatt brings together experts in technology, market research and management consulting to provide custom consulting and research services on the PV and energy markets. Providing market analysis, industry intelligence and forecasts that are accurate, targeted and timely. The information you need, when you need it, to drive smart business decisions.
Exawatt’s proprietary forecast models combine detailed market analysis with a deep understanding of the technical issues at play in all facets of the PV value chain, from polysilicon manufacturing to downstream project development.
For more information, visit exa-watt.com
About RGS Energy
RGS Energy (NASDAQ:RGSE) ) is America’s Original Solar Company providing solar, storage and energy services whose mission is clean energy savings. The company is the exclusive manufacturer of POWERHOUSE™, an innovative in-roof solar shingle using technology developed by The Dow Chemical Company. RGS Energy also sells, designs and installs traditional retrofit solar systems for residential homeowners, commercial businesses, non-profit organizations and government entities.
For more information, visit RGSEnergy.com and RGSPOWERHOUSE.com, on Facebook at www.facebook.com/RGSEnergy and on Twitter at twitter.com/rgsenergy. Information on such websites and the websites referred to above in this press release is not incorporated by reference into this press release.
RGS Energy is the company’s registered trade name. RGS Energy files periodic and other reports with the SEC under its official name “Real Goods Solar, Inc.”
POWERHOUSE™ is a trademark of The Dow Chemical Company, used under license.
Forward-Looking Statements and Cautionary Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including statements regarding the RGS Energy’s business and strategies. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they provide our current beliefs, expectations, assumptions, forecasts, and hypothetical constructs about future events, and include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations. The words “plan,” “future,” “may,” “will,” “expect” and “hypothetical” and similar expressions as they relate to us are intended to identify such forward-looking statements.
Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Therefore, RGS Energy cautions you against relying on any of these forward-looking statements.
Key risks and uncertainties that may cause a change in any forward-looking statement or that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include: RGS Energy’s ability to build its POWERHOUSE™ roofing network; RGS Energy’s ability to successfully commercialize POWERHOUSE™ 3.0 during 2019 and, in future years, achieve market share; RGE Energy’s supply chains ability to deliver POWERHOUSE™ solar shingles in accordance with RGS’s submitted purchase orders; RGS Energy’s ability to manage supply chain in order to have production levels and pricing of the POWERHOUSE™ 3.0 shingles to be competitive; foreign exchange risks associated with the POWERHOUSE™ 3.0 business; the impact of International relations between the United States and China on RGS’ Supply Chain; intellectual property infringement claims and warranty claims related to the POWERHOUSE™ 3.0 business; the continuation and level of government and utility incentives for solar energy; and other risks and uncertainties included in the Company’s filings with the Securities and Exchange Commission.
You should read the section entitled “Risk Factors” in our 2017 Annual Report on Form 10-K and in our Quarterly Reports on Form 10-Q for the quarters ended March 30, 2018, June 30, 2018, and September 30, 2018, each of which has been filed with the Securities and Exchange Commission, which identify certain of these and additional risks and uncertainties. Any forward-looking statements made by us in this presentation speak only as of the date of this presentation. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake any obligation to publicly update or revise any forward -looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
POWERHOUSE™ is a trademark of The Dow Chemical Company, used under license.
RGS Energy is the Company’s registered trade name. The Company files periodic and other reports with the Securities and Exchange Commission under its official name “Real Goods Solar, Inc.”
Investor Relations Contact
Managing Partner, CMA