Disclaimer: for full disclosure, Ethical Markets principals are investors in Envision Solar, Hazel Henderson, Editor
Envision Solar Announces Major Business Development Event,
2011 Results and Significant Debt Reduction
Gross margin profitability for 2011, a further $1M in debt reduction
and a Fortune 10 company signs a major LOI
San Diego (April 3, 2012) – Envision Solar International, Inc., (OTCBB:EVSI – News), the leading solar shaded parking infrastructure product designer and developer, announced that it has executed a Letter of Intent with a Fortune 10 company to collaborate in the promotion and deployment of the Company’s Solar Tree® structures to hundreds of locations across the United States. The program is slated to commence in the first half of 2012 and continue through 2014. The letter of intent covers over 900 locations and includes the deployment of Solar Tree® structures which incorporate Envision’s CleanCharge™ CI™, “column-integrated” electric vehicle charging stations and EnvisionTrak™ dual-synchronous solar tracking technology.
The Company also announced the recent release of FY 2011 results with profitability at the gross margin line and, even further, the subsequent conversion of $1 million in debt at a premium to the share price at the time of the conversion.
“We have a well defined strategy and we are executing on it,” stated Desmond Wheatley, President and CEO of Envision Solar. “We have created the highest quality, scalable product in the industry and demonstrated that we can deploy profitably at the gross margin line at comparatively low volumes. We have attracted fantastic customers who love our product and this letter of intent is one more strong indication of our trajectory to significantly increased volume. Further, we are managing the business such that the gross margins we earn have the least resistance on their path to earnings per share. These three crucial elements of our strategy should lead to a very good 2012 for the Company.”
For more information about Envision Solar, visit www.envisionsolar.com.
About Envision Solar International, Inc.
Envision Solar, www.envisionsolar.com, is a leading Renewable Energy product designer and integrator deploying clean energy systems globally. The solar design creates unique and proprietary solar array structures. The company is a leader in the invention fabrication and deployment of solar structures that address the vast amount of underutilized real estate committed to parking spaces by turning them into beautiful Renewable Energy generation plants. Its innovative systems include products for commercial and institutional projects, such as the proprietary tracking solution, EnvisionTrak™, CleanCharge™, column integrated Electric Vehicle charging stations, Solar Tree® arrays, Solar Grove® systems and others. Envision Solar is listed on the OTC Bulletin Board under the symbol [OTCBB: EVSI]. For more information on the company, contact 1-866-746-0514.
This Press Release may contain forward looking statements regarding future events or our expected future results that are subject to inherent risks and uncertainties. All statements in this Report other than statements of historical facts are forward looking statements. Forward looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “target,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may,” or other words and similar expressions that convey the uncertainty of future events or results. Statements contemplating or making assumptions regarding actual or potential sales, market size and demand, prospective business contracts, customer orders, trends or operating results also constitute forward looking statements. Our actual results may differ substantially from those indicated in forward looking statements because our business is subject to significant economic, competitive, regulatory, business and industry risks which are difficult to predict and many of which are beyond our control. Our operating results, financial condition and business performance may be adversely affected by a general decline in the economy, unavailability of capital or financing for our prospective customers to purchase products and services from us, competition, changes in regulations, a decline in the demand for solar energy, a lack of profitability, a decline in our stock price, and other risks. We may not have adequate capital, financing or cash flow to sustain our business or implement our business plans. Current results and trends are not necessarily indicative of future results that we may achieve.