Three Sixty Solar (VSOL:NEO;VSOLF:OTC) is a Canadian company focused on alternative energy design, manufacture, and sales, specializing in solar equipment supply. Its premier product line is the patent-pending SVS series commercial solar tower concept. This high-density, clean energy solution can be easily built adjacent to homes, retail, agriculture, and industry, minimizing line loss and maximizing energy delivery in places where renewables have traditionally been difficult to install.
By using the company's products in multi-tower applications, developers can capitalize on the spaces between towers to better leverage land assets through additional revenue-generating activities. Each tower offers a clean energy solution with minimal environmental and habitat impact.
Three Sixty Solar Ltd's subsidiaries include Three Sixty Solar Operations Ltd, Victory Exploration Inc., and Liberty One Utah Inc.
The Catalyst: Second Tower Sale LOI Signed
Today, August 1, Three Sixty Solar announced the signing of a non-binding letter of intent with Lois Creek Development Inc. to secure the phase one sale of a combined solar and telecommunications tower in the town of Kimberley, located in the East Kootenay mountain region of British Columbia.
Lois Creek Development Inc. is developing a 64-home subdivision in the town, with a focus on near-net-zero construction. The developer has signed a letter of intent indicating its commitment to include an initial Three Sixty Solar Tower in that development.
The LOI indicates that the parties plan to begin a feasibility study within the next 30 days to move the project forward, as well as Lois Creek's intent to install technology from Hook'd Broadband on the solar tower to provide connectivity to the developing community.
A recent Stratistics MRC report points out that the global solar farm sector accounted for US$76 billion in 2020 and is forecasted to reach US$296 billion by 2028, growing at a compound annual growth rate (CAGR) of 18.5%.
"I'm thrilled to have executed this LOI and can't wait to proceed with our part of this exciting development project with the Lois Creek Development team," says Three Sixty Solar CEO Brian Roth. "We are very eager to kick off the feasibility study and to begin working with several regional partners, including Hook'd Broadband."
"We couldn't be happier that Mr. Winter and his associates at Lois Creek share our vision as to the value that our technology can bring to their community, and we look forward to building a long-term relationship with them."
According to Noel Winter, President of Lois Creek Development, "The solar towers offered by Three Sixty provide a unique approach, enabling us to deploy renewable solar power that home buyers in our communities are asking for, without having to sacrifice large amounts of land or compromise the integrity of the roofs on the homes."
"We are excited to move forward on a first deployment and to see how this will fit in our future communities." he continues ."This has the potential to be an enhancement for our developments moving forward."
Why This Sector? Reenvisioning the Green Energy Revolution
Tower-based solar power solutions offer a relatively new twist on legacy solar technology, one that makes it a more appealing solution in far more potential use cases. When Three Sixty Solar signed its first LOI with Cattail Crossing Golf and Winter Club in Sturgeon County, Alberta, club owner Mark Beck said the club had been looking for ways to add renewable energy to the operation but couldn't find anything suitable for the land.
"The solar towers offered by Three Sixty are such a unique approach that we can easily make it fit and generate power for our irrigation systems, cart charging, and more," Beck said. "We are looking forward to working with Three Sixty and becoming an advocate for the solar tower solution to our friends in the golf community."
Canada is targeting net zero emissions by 2050 and has launched a CA$964 million program, while the United States Inflation Reduction Act commits US$370 billion to fund green energy.
"They have substantial power needs and don't want to give up their land because, obviously, that takes up space they need for the course," explained Three Sixty Solar CEO Roth, adding that countries have been "throwing record amounts of money at these types of technologies and trying to green our electricity grid. There's just a huge opportunity to clean up our electricity production while . . . being very cost competitive with the older technologies.
Indeed, a recent Stratistics MRC report points out that the global solar farm sector accounted for US$76 billion in 2020 and is forecasted to reach US$296 billion by 2028, growing at a compound annual growth rate (CAGR) of 18.5%.
Canada is targeting net zero emissions by 2050 and has launched a CA$964 million program, while the United States Inflation Reduction Act commits US$370 billion to fund green energy. The European Union has an energy target of at least 32% from solar by 2030, while the European Green New Deal envisions a climate-neutral continent by 2050.
Why This Company? Novel Tech Saves Space, Roofs
As Roth explains, "Three Sixty Solar's unique tower concept is a high density, clean energy solution that uses up to 90% less land space than conventional solar farms."
Technical Analyst Clive Maund opined that "The company and its stock are considered to have a lot of growth potential."
This allows for close proximity to legacy infrastructure, "minimizing line loss and maximizing energy delivery in places where renewables have been difficult to install until now."
In addition to reducing the land space requirement for installation, the company's vertical farms keep solar infrastructure off of commercial, residential, and industrial roofs, where they can be a danger to both operations personnel and structural integrity.
It's a foregone conclusion among many analysts that solar power will continue to grow as a major portion of the emerging green economy. Three Sixty Solar's solutions are designed to make the real-world impact of this accelerating transition as soft-touch as possible.
Why Now? Two LOIs in the bag
With their first and second installation projects well begun, it seems that Three Sixty Solar — Formerly Liberty One Lithium Corp., with an IPO date of 11-Aug-1994 — is finally off to the races.
On July 24, after only the first LOI was announced, Technical Analyst Clive Maund opined that "Three Sixty Solar is an interesting solar company because it makes unique vertical array solar towers which have tremendous space-saving and aesthetic advantages in solar power generation. For this reason, the company and its stock are considered to have a lot of growth potential."
He explained that he "started looking at it in April, and after we bought it at that time, it had a sharp rally that was followed by a nasty steep drop into mid–late May when we bought it again, and so after the strong rally of recent weeks we are up on our last purchase but still slightly down on the first purchase."
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Three Sixty Solar (VSOL:NEO;VSOLF:OTC)
"It is thus interesting to see this morning's news that the company is making its first sale of one of its vertical towers. Now, you may yawn at this and say, 'So what? — big deal, they sold a tower to a golf course.' But the point is there are a lot of golf courses and various other venues and places across the U.S. and across the world that have the need for this space-saving technology, and if they catch on to it, sales could be huge, so it really could be a big deal after all."
"We, therefore, stay long, and Three Sixty is rated an Immediate Strong Buy as soon after the open as possible."
Ownership and Share Structure
According to the company, about 21% of Three Sixty Solar is held by management and insiders. According to Reuters, CEO Roth owns 3.43%, with 1.25 million shares, and founder and Director Scott McLeod owns about 0.21%, with 0.08 million.
About 28% is held by strategic investors, and the rest, about 51%, is retail.
Three Sixty Solar's market cap is CA$20.23 million, with about 43.5 million shares outstanding. It trades in a 52-week range of CA$1.29 and CA$0.51.
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Important Disclosures:
- Three Sixty Solar has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Three Sixty Solar.
- Owen Ferguson ote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.
- The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
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