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iSun Acquires Intellectual Property of Oakwood Construction Services.

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Vincent

MANews-(C)2009-2021

US-based solar energy and clean mobility infrastructure company iSun, Inc. (NASDAQ: ISUN) has acquired all of the intellectual property of Oakwood Construction Services, Inc., and its affiliates a utility-scale solar EPC company, for a total consideration of USD 2.7m, the company said.

USD 1m is due immediately and the remaining USD 1.7m contingent upon the achievement of certain milestones.

This deal provides iSun entry into the utility-scale solar EPC market and continues geographic expansion strategy; OCS has contracted projects in South Carolina, Utah, and Colorado.

There is roughly USD 69bn of utility-scale solar assets to be built in the US already under executed power purchase agreements.

It also allows iSun to enter the build-transfer solar projects market, where it will develop, build and sell large projects directly to utility clients.

Since 2017, OCS has contracted approximately 450mw of utility-scale solar assets in the United States, for a...

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