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ABCE - ABCO Energy Inc News Story

$0.03 0.0  13.8%

Last Trade - 18/06/21

Micro Cap
Market Cap £621k
Enterprise Value £1.55m
Revenue £856k
Position in Universe 6847th / 6927

ABCO Energy Announces Another Commercial Solar Project for $543,000

Tue 9th July, 2019 5:23pm
ABCO Energy Announces Another Commercial Solar Project for $543,000

TUCSON, Ariz., July 09, 2019 (GLOBE NEWSWIRE) -- via NetworkWire -- ABCO Energy, Inc, (OTCQB, "ABCE") announced on July 9, 2019, that the company has completed the sale and financing of a $543,000 solar project on a medical facility building in Southern Arizona.  This sale has increased ABCO's backlog of work to be completed in 2019 to $1,650,000. This backlog represents $1,600,000 of incomplete commercial projects and $50,000 of residential work, which will reflect well in our third and fourth quarter results.

Since ABCO completed nearly $3 million in projects during the fiscal year ended Dec. 31, 2018, our current backlog indicates a larger sales volume in 2019.

“We have doubled our annual sales volume over each of the last two years,” said Charles O’Dowd, president of ABCO Energy, “and it appears there could be a very good chance for a solid increase over 2018 in fiscal 2019.”

“Sales gains and more profitable operations have always been our goal, and our emphasis on commercial sales efforts has been very successful,” O’Dowd added. “We have a large backlog of unfinished work for projects to be completed in the 2019 year, and this will reflect well throughout the entire year.”

This new healthcare facility project will be built entirely with solar parking structures and will contain 167 KWH of installed DC solar power and will save the nonprofit organization over $1,624,600 over a 25-year period.  ABCO arranged for a tax incentive investment financing for this project.

Safe Harbor Statement
Note: Certain statements in this news release may contain "forward-looking" information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-5 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than the statements of fact, included in this press release may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. ABCO undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.


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