ABCO Energy, Inc. operates within the solar, LED, and energy efficiency lighting industries. Shares of the Tucson, Arizona-based company jumped 35%, during trading on Thursday, August 9, 2018. Over the past month, ABCO Energy, Inc. has seen average daily volume of 10.43 million shares. However, volume of 18.23 million shares or dollar volume of $56,695, exchanged hands during trading on Thursday.
Shares of ABCO Energy, Inc. climbed on Thursday, after the company announced that it has signed a $950,000 commercial solar project with anticipation of an additional $35,000 commercial lighting contract at the same facility. The project spans across a 72-unit apartment complex, which will include roof-top and parking shade solar generation. Management notes that the total combined savings in the first year from the solar and LED projects will be approximately $96,927. Furthermore, over a 25-year period, the projects are estimated to provide cost savings of around $3.45 million. Here is the full press release detailing of the solar and lighting contract:
ABCO Energy, Inc. Press Release:
TUCSON, AZ / ACCESSWIRE / August 9, 2018 / ABCO Energy, Inc, (OTC PINK: ABCE) August 8, 2018, Tucson, Arizona, announced that they have signed a $950,000 commercial solar project and anticipate an additional $35,000 commercial lighting contract on the same facility with ABCO crews providing all construction. The project is on a 72-unit apartment complex and will consist of both roof top and car park shade structures. The owners will enjoy approximately $80,946 from the solar electric generation plant and $15,981 first year savings from the LED lighting project, for a total first year savings of approximately $96,927. In addition, the federal and state tax credits totaling $310,000 will further increase the owner’s return on investment. Over a period of 25 years, this project is expected to provide cost reduction for the customer in excess of $3,445,000.
”Coupled with our first seven months of sales and booked backlog of over $1,500,000, ABCO’s anticipated sales booked for the year already exceeds $2,500,000,” said Charles O’Dowd, President of ABCO Energy. ”With this large backlog of signed commercial and residential solar projects and several quoted projects in the pipeline at this time, we are hopeful for a record year in sales and profits.”
ABCO Energy is in the Photo Voltaic (PV) solar systems industry, the LED and energy efficient lighting business, is a dealer for a solar powered air conditioning system. The Company plans to build out a network of operations in major cities in the USA to establish a national base of service operations centers. This combination of services, solar PV, solar HVAC systems and LED lighting provides the Company with a solid base in the growth markets of renewable energy applications. On July 1, 2018, we operated in Tucson, Arizona and provided installation and services to other cities from our Tucson offices. The Company plan is to expand to more locations in North America in the next year as funding becomes available.
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.