Solar power solutions provider Solar3D commented on its long-reaching plan of growth-by-acquisition, noting that its goal is to develop a more competitive entity than what is currently available in the US solar market.
Solar3D initiated its growth-by-acquisition mission by purchasing design, installation and management services provider SUNworks in 2013 before recently acquiring solar-project provider MD Energy.
Jim Nelson, CEO of Solar3D, said: “The momentum gained from acquiring SUNworks and MD Energy, coupled with greater financial resources and uplisting to the NASDAQ has positioned us for substantial growth in 2015 and beyond. Our growth-by-acquisition model is essential to our long-term strategy. We are highly focused on identifying profitable solar companies with strong leadership that fit our criteria.”
Nelson continued: “Thus far, our operating subsidiaries have outperformed our expectations. They have increased sales by offering our 'Solar 2.0' model that provides the cost-efficient flexibility that commercial and residential property owners seek when choosing to go solar. We are confident that this trend will continue due to the explosive growth within the solar industry.”
Solar3D has been riding a strong wave of momentum as of late, with the company announcing that it uplisted to the NASDAQ in early March and announced that it expects to double its revenue totals in 2015. From 2013 to 2014, Solar3D’s operating subsidies experienced 100% annual growth.