Full Disclosure : Hazel Henderson is an investor in Envision Solar.
Envision Solar Announces Record Q1 Revenues Over $3 Million – Exceeding Previous Annual Best
SAN DIEGO, CALIF. – April 3rd, 2018 – Envision Solar International, Inc., (OTCQB: EVSI) (“Envision Solar,” or the “Company”), the leading renewably energized EV charging, outdoor media and energy security products company, today announced unaudited revenue results for the first quarter of 2018.
In the first 3 months of the year the Company achieved revenue of over $3 million, which represents the highest quarterly revenue in the Company’s history. Q1 revenues also exceed the Company’s previous annual revenue record of $2.78M and were almost ten times higher than revenues for the same period in 2017. Revenue was achieved through new and repeat orders of the Company’s EV ARC™ products from government and enterprise customers.
The Company is achieving consistently higher levels of backlog and pipeline through a combination of contributors including:
- Follow-on orders from existing customers
- Improvements in the Company’s selling and marketing activities
- Increased interest from municipal, state and federal customers
- Increases in the adoption of electric vehicles
- Increased legislation and government mandates favoring electrified transportation
- Additional value stacking on the existing products such as the introduction of emergency power panels on the EV ARC™ product and the enabling of DC fast charging for electric buses and electric passenger cars without grid connections
The Company has been able to execute on higher volumes of business since successfully closing a working capital credit line as reported in Q4 of 2017.
“We are obviously very excited to have generated more revenue in this first quarter than in any previous full year in our history,” said Envision Solar CEO, Desmond Wheatley. “We are finally able to match accelerating sales demand with the working capital required to execute on the orders in a timely manner. I’m delighted and proud to see the team deliver excellence and I look forward to a very successful full year.”