iSun, Inc. (NASDAQ: ISUN) (“iSun” or the “Company”), a leading solar energy and clean mobility infrastructure company with 50 years of construction experience for solar, electrical and data services, announced that it has made a $1.5 million strategic investment in Gemini Electric Mobility Co. (“Gemini”) and a $1 million investment in Nad Grid Corp (“AmpUp”).
Highlights
- Establishes strategic relationships to drive future opportunities to install, own and operate large networks of EV charging stations with high utilization
- Consistent with iSun’s strategy to invest in companies that help iSun provide energy as a service
- Provides iSun with access to software development capabilities necessary for EV charging services
- Investments aim to accelerate the adoption of electric mobility
“The investments in Gemini and AmpUp are important steps forward for iSun as we seek to expand our presence in the clean mobility market and further establish the Company as a leader in solar infrastructure, inside and outside of our traditional regional markets from Maine to California,” said Jeffrey Peck, Chairman and Chief Executive Officer of iSun. “These investments complement our new product offerings acquired in January and are part of our ongoing growth strategy that targets companies serving new markets and that help iSun provide energy as a service to enable our customers to convert from dirty energy to clean energy. We believe the investments in Gemini and AmpUp fit well within that framework. They provide iSun with a unique advantage to serve our customers in the clean mobility infrastructure market and provide growth opportunities for our solar installation business. The investments also expand our opportunities to own and operate electric vehicle charging assets and to increase our base of recurring revenue and earnings.”
Gemini Electric Mobility Co. has developed a sustainable fintec solution for mobility, which accelerates the adoption of electric vehicles for those who drive the most. Their solution delivers on EV’s GHG reduction and clean air promises, by increasing accessibility and by maximizing utilization over the full vehicle lifecycle.
