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DENVER, Aug. 01, 2018 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ: RGSE), the exclusive worldwide manufacturer of the POWERHOUSE™ solar shingle system, has entered into a partnership agreement with Venture Global Solutions (VGS), a third party logistic (3PL) division of Venture Logistics, for the nationwide rollout of POWERHOUSE™ 3.0.
VGS allows RGS to distribute POWERHOUSE™ 3.0 kits to roofers and homebuilders in 50 states and Canada. VGS will provide cutting-edge 3PL services for POWERHOUSE™, including network optimization, warehousing and final packaging. The solution will optimize shipping routes to minimize freight costs, thereby supporting POWERHOUSE™ as the most affordable solar shingle system.
“We are proud to partner with a cutting-edge company like RGS,” said Michael Meier, President of Venture Global Solutions. “We look forward to supporting the continued growth of this solar energy industry disrupter with our transportation management services. Our software suite will provide RGS the ability to integrate its operations and empower them to make swift decisions, and then implement those decisions with swift action.”
RGS Energy plans to begin sales and installation of POWERHOUSE™ 3.0 solar shingles immediately following UL 1703 certification. RGS has received written reservations for POWERHOUSE™ 3.0 now total more than $76 million in potential annual revenue from more than 45 roofing dealers across 18 states and Canada, up from the $60 million the company reported last week.
By coupling new roofing with visually stunning, energy-saving solar shingles, POWERHOUSE™ 3.0 addresses the unmet need of residential homeowners with asphalt rooftops, which represent about 85 percent of U.S. homes. More than a thousand homeowners are currently enjoying the cost-savings and aesthetic benefits of earlier generations of POWERHOUSE™.
About Venture Global Solutions
Venture Global Solutions, started in 2014, is a 3PL division of Venture Logistics (over 23 years in the industry). Aiming to not just be another 3PL company, but a true partner. Whether it is network optimization, transportation management and execution warehousing, or LTL consolidation, its objective is to generate value to your supply chain.
Venture designs and executes the optimal logistics plan specific to each customer. Each customer solution is developed to drive both cost reductions and operational efficiencies. Venture achieves this through experienced people, establishing processes, and utilizing the right technology for the task.
The ability to provide asset and non-asset-based transportation solutions coupled with warehousing capabilities, having over one million square feet of warehouse space, allows Venture to provide unparalleled customer service. For more information, go to www.ventureglobalsolutions.com.
About RGS Energy
RGS Energy (NASDAQ: RGSE) is America’s Original Solar Company providing solar, storage and energy services whose mission is clean energy savings. The company is the exclusive manufacturer of POWERHOUSE™, an innovative in-roof solar shingle using technology developed by The Dow Chemical Company. RGS Energy also sells, designs and installs traditional retrofit solar systems for residential homeowners, commercial businesses, non-profit organizations and government entities.
For more information, visit RGSEnergy.com and RGSPOWERHOUSE.com, on Facebook at www.facebook.com/RGSEnergy and on Twitter at twitter.com/rgsenergy. Information on such websites and the websites referred to above in this press release is not incorporated by reference into this press release.
RGS Energy is the company’s registered trade name. RGS Energy files periodic and other reports with the SEC under its official name “Real Goods Solar, Inc.”
POWERHOUSE™ is a trademark of The Dow Chemical Company, used under license.
Forward-Looking Statements and Cautionary Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including statements regarding RGS Energy’s plans for the commercialization of the POWERHOUSE™ 3.0 Solar Shingle, and RGS Energy’s business and financial strategies. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they provide our current beliefs, expectations, assumptions, forecasts, and hypothetical constructs about future events, and include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations. The words “forecast,” “project,” “expect,” “plan,” “future,” “believe,” “may,” “hypothetical,” “will,” “estimated,” and similar expressions as they relate to RGS Energy are intended to identify such forward-looking statements.
Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Therefore, RGS Energy cautions you against relying on any of these forward-looking statements.
Key risks and uncertainties that may cause a change in any forward-looking statement or that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include: RGS Energy’s ability to successfully and timely commercialize POWERHOUSE™ 3.0; the ability to obtain requisite UL certification of POWERHOUSE™ 3.0; RGS Energy’s ability to manage supply chain in order to have production levels and pricing of the POWERHOUSE™ 3.0 shingles to be competitive; demand for POWERHOUSE™; the ability of RGS Energy to successfully expand its operations and employees and realize profitable revenue growth from the sale and installation of POWERHOUSE™ 3.0, and to the extent, anticipated; RGS Energy’s ability to realize revenue from written reservations for initial POWERHOUSE™ deliveries; and RGS Energy’s ability to obtain future written reservations for POWERHOUSE™ deliveries.
You should read the section entitled “Risk Factors” in our 2017 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, which identify certain of these and additional risks and uncertainties. Any forward-looking statements or forward-looking hypothetical examples made by us in this press release speaks only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake any obligation to publicly update or revise any forward-looking statement or forward-looking hypothetical example, whether as a result of new information, future developments or otherwise, except as may be required by law.
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Managing Partner, CMA