Three Sixty Solar Ltd. (“Three Sixty,” “Three Sixty Solar,” or the “Company”), an all-Canadian business focused on the supply of solar equipment to the global market, is pleased to advise the signing of an important distribution partnership agreement with Archer Cleantech Inc. (“Archer”) of Calgary, Alberta.
The agreement, effective May 1, 2022, is subject to certain commercial terms and conditions, and assigns Archer a non-exclusive right and license to use the Company’s products and services, as well as trademarks, in distribution, marketing, and sales. Three Sixty Solar products and services to third parties within Canada. Peter Sherba, a director and significant shareholder of the Company, has been appointed as CEO of Archer.
Archer Cleantech is an early stage renewable energy project generator with a strong team of skilled sustainable energy industry veterans offering over 200 years of combined experience and a track record of support and growth of companies across various power project developments around the world. Archer is well positioned and well equipped to identify, secure, and execute major energy infrastructure projects to completion.
The distribution agreement has a two-year term, with two additional two-year extensions based on sales target performance. The agreement gives Archer the non-exclusive right to sell Three Sixty Solar’s towers and related services nationwide along with options to sell projects outside of Canada subject to Three Sixty Solar’s approval. .
Brian Roth, CEO of Three Sixty Solar said, “I am delighted that we will be able to accelerate our growth through the interest and participation from the passionate and experienced team at Archer. This is a huge step forward for us and allows us to focus the implementation of our technology on a wide range of innovative projects across Canada and beyond. I feel confident that we will be introduced to project opportunities that we would not have had without this exciting relationship With clearly defined volume targets, we expect this distribution agreement to contribute at least 10% to our goal of installing 500 MW of power in the next five years .We expect this to help create value for our shareholders and partners.
About Three Sixty Solar Ltd.
Three Sixty Solar Ltd. an all-Canadian business focused on supplying solar equipment to the global market. The company’s main product line is the patent-pending SVS series commercial solar tower. According to Statistics MRC, the solar farm sector is set to grow to nearly $296 billion by 2028. Three Sixty Solar’s unique tower concept is a high-density, clean energy solution that uses 90% less land area than conventional solar farms and can be co-located next to homes, retail, agriculture, and industry, thereby minimizing line losses and maximizing energy delivery in areas where renewables are difficult to install until today. In multi-tower applications, developers can use the spaces between towers to better utilize land assets through additional income-generating activities. Designed to withstand extreme weather events, Three Sixty Solar offers a clean energy solution with minimal environmental and residential impact.
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