iSun, Inc., a leading solar energy and clean mobility infrastructure company with 50 years of experience accelerating the adoption of innovative electrical technologies, announced that Jeffrey Peck, Chairman and CEO, and John Sullivan, Chief Financial Officer, have each purchased 50,000 shares of iSun common stock on the open market, thus together buying 100,000 shares at a total price of $52,808, or an average cost of $0.53 per share, reinforcing their confidence in the company’s progress and opportunities ahead.
Said Mr. Peck, “Building on the transformational year of 2022, we’re thrilled that 2023 is off to a strong start for iSun, with first quarter revenue growth of 15% and a 30% reduction in operating expenses – all supporting our targets of increasing our revenue this year by 24-31% and attaining adjusted EBITDA profitability. John and I believe that iSun is performing very well across our market segments, and we view the current stock price as not reflecting our current or potential value.”
He continued, “With the power of the Inflation Reduction Act providing 10-year support for alternative energy tax treatment, we anticipate that the best is yet to come for iSun. In the first quarter this year, we’ve already won $32 million in new contracts for both solar and EV infrastructure projects. Our teams are reaching peak productivity, with a backlog of $178.8 million as of March 31, 2023, and that provides us with confidence that we will achieve our outlook for 2023. iSun is indeed well positioned to generate sustainable, profitable long-term growth, for the benefit of its customers, shareholders and employees.”