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Peck Closes Acquisition Of iSun Energy LLC

The Peck Company Holdings also announced it has changed its name to iSun, Inc.

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iSun, Inc., formerly The Peck Company Holdings, Inc., a leading commercial solar engineering, procurement and construction (EPC) company and iSun Energy LLC (iSun), a provider of innovative solar power, electric mobility and smart city solutions for government, commercial, retail, academic and data-center projects, recently announced that they have closed on the acquisition of iSun Energy LLC, announced on Jan. 5.

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Merger Rationale

iSun (formerly Peck) has constructed more than 200 megawatts of solar projects to date (enough to power 38,000 homes). Despite COVID-related challenges last year, there were no project cancellations. Peck has been executing a disciplined growth plan since becoming a public company in June 2019, and an accretive merger and acquisition strategy has been a top priority. Acquiring iSun and the iSun Brand and its innovations is consistent with the company’s evolution toward serving its customers as a full-service energy solutions provider. Furthermore, adding higher margin products and energy services will have a positive impact on typical solar EPC margins. Combining a profitable EPC business for solar, electrical and data contracting with award-winning products and platforms that are modular, scalable and connected is a powerful combination that differentiates the company from other solar or EV (electric vehicle) charging companies, said the company.

Highlights

• iSun now trades on Nasdaq as ISUN and replaces PECK.

• iSun near term pipeline across New England, New York and other locations to be announced shortly.

• Combined group backlog reaches USD $60M.

• The iSun Brand companies will continue to provide its trusted solar, electrical and data services to its commercial and industrial customers.

• The iSun Brand offerings include the iSun Energy & Mobility Hub, a solar canopy for EV charging, and the iSun Oasis Smart Solar Bench will immediately begin to be offered by the entire group to its current and new prospect base.

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• Timely market expansion capitalizes on the Biden administration’s plan to make major public investments in renewables and electric mobility infrastructure, including in 500,000 electric vehicle charging stations.

• Industry experts anticipate 100 GWs of solar infrastructure will be constructed over the next 5 years, representing 50% growth.

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