Solar Alliance announces the appointment of new CEO to lead company through next stage of growth
October 18 2024 - 7:00AM
Solar Alliance Energy Inc. (‘Solar Alliance’ or the
‘Company’) (TSX-V: SOLR, OTC: SAENF), a leading solar
energy solutions provider focused on the commercial and utility
solar sectors, announces the resignation of Michael Clark as CEO,
President and Director, and the appointment of Brian Timmons as
President and CEO, both effective October 18, 2024. Mr. Clark is
leaving Solar Alliance to pursue other opportunities and will
assist the Company to ensure a seamless transition.
Mr. Timmons is a Fellow of the Association of
Chartered Certified Accountants, with over 30 years of experience
in senior positions within companies across a range of industries,
including fund management, investment banking, healthcare
technology, bioscience, alternative energy and resource companies,
telecoms and software IT. A number of these were entrepreneurial,
early stage companies, in which he led the process of raising
significant levels of finance to fund ambitious growth targets. Mr.
Timmons has been the Chairman of the Solar Alliance Board of
Directors since February, 2022 and has been integral to the
Company’s recent growth and large project execution strategy.
“On behalf of the Board, I want to express our
gratitude to Mr. Clark for his outstanding leadership and
resilience during his time as President and CEO. Under his
guidance, Solar Alliance has evolved into a leading commercial
solar provider in the U.S. Southeast, experiencing revenue growth
and achieving profitability for the first half of 2024. I look
forward to growing Solar Alliance and building on the work he has
done to date. The prospects for continued growth remain high and I
am determined to accelerate that growth for the benefit of our
customers, shareholders, and the planet,” said Chairman Brian
Timmons.
“It has been an honour to work alongside a great
team,” said Mr. Clark. “The appointment of Mr. Timmons as CEO
brings significant financial and operational experience to the
team. He has been integral to our growth and large project
execution strategy and he now brings his expertise to Solar
Alliance full time as CEO. Additionally, the financial experience
he brings to Solar Alliance is ideally suited for this company at
this time given our remarkable growth prospects. I will always
remain a strong supporter of Solar Alliance. I look forward to
seeing great things from the company as it continues to bring solar
energy to the growing commercial solar market,” said Mr. Clark.
Anton Shihoff, Ken Stadlin and Bob Miller remain
as members of the board of directors alongside Mr. Timmons, who
remains as Chairman. In connection with this transition, the
Company has agreed to issue Mr. Clark an aggregate of 1,000,000
common shares of the Company as part of his severance, subject to
the approval of the TSX Venture Exchange.
Brian Timmons, Chairman
For more information: |
Investor RelationsBrian Timmons, Chairman, CEO and
President +1 865 888 9925 btimmons@solaralliance.com |
About Solar Alliance Energy Inc.
(www.solaralliance.com)
Solar Alliance is an energy solutions provider
focused on the commercial, utility and community solar sectors. Our
experienced team of solar professionals reduces or eliminates
customers' vulnerability to rising energy costs, offers an
environmentally friendly source of electricity generation, and
provides affordable, turnkey clean energy solutions. Solar
Alliance’s strategy is to build, own and operate our own solar
assets while also generating stable revenue through the sale and
installation of solar projects to commercial and utility customers.
The technical and operational synergies from this combined business
model supports sustained growth across the solar project value
chain from design, engineering, installation, ownership and
operations/maintenance.
Statements in this news release, other than
purely historical information, including statements relating to the
Company's future plans and objectives or expected results,
constitute Forward-looking statements. The words “would”, “will”,
“expected” and “estimated” or other similar words and phrases are
intended to identify forward-looking information. Forward-looking
information in this press release include, but is not limited to
focus on larger, higher margin commercial solar projects, the
assessment of acquisition opportunities and pursuit of corporate
opportunities, the ability to scale, increasing project margins,
targeting profitability, the expectation that the completion of
several larger projects post-quarter end will result in revenue to
be recognized in future quarters and the Company offering a unique
investment opportunity in the renewables sector space.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the Company’s actual
results, level of activity, performance or achievements to be
materially different than those expressed or implied by such
forward-looking information. Such factors include but are not
limited to: uncertainties related to the ability to raise
sufficient capital, changes in economic conditions or financial
markets, litigation, legislative or other judicial, regulatory,
legislative and political competitive developments, technological
or operational difficulties, the ability to maintain revenue
growth, the ability to execute on the Company’s strategies, the
ability to complete the Company’s current and backlog of solar
projects, the ability to grow the Company’s market share, the high
growth US solar industry, the ability to convert the backlog of
projects into revenue, the expected timing of the construction and
completion of the Company’s solar projects, the targeting of larger
customers, potential corporate growth opportunities and the ability
to execute on the key objectives in 2024. Consequently, actual
results may vary materially from those described in the
forward-looking statements.
“Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.”
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