Vancouver, British Columbia--(Newsfile Corp. - January 16, 2025) - Stardust Solar Energy Inc. (TSXV: SUN) ("Stardust Solar" or the "Company"), a leading provider of residential solar energy solutions, is pleased to announce another expansion in the United States with the sale of a Stardust Solar franchise located in Harris County to the new franchise owner, Tim Hill. This marks Stardust Solar's first organic expansion in the U.S. following its recent acquisition of Solar Grids Development LLC, highlighting the Company's focus on capitalizing on the growth opportunities in the American solar market.
Stardust Solar's entry into the Houston area is an important milestone in its strategy to expand its franchise footprint across the U.S. market. The addition of Harris County to the Company's franchise network, with a population of over 4.8 million, demonstrates the scalability and ability of Stardust Solar's franchise model to unlock opportunities in high-demand regions.
Tim Hill is a proud US Navy veteran. As our newest franchise operator, Tim brings strong leadership and a mission-driven focus to the Stardust Solar team. "I'm excited to bring Stardust Solar's solutions to Houston," said Hill. "Texas has incredible solar potential, and I'm proud to contribute to homeowners' energy independence while helping to reduce strain on the grid."
The franchise territory expansion comes as Texas continues to demonstrate growth in solar adoption. A recent report by Environment Texas11 found the state ranks third in the U.S. for residential solar power generation, producing 2,575 GWh of electricity in 2022-a 3,700% increase over the last decade. The report highlights the enthusiasm of Texans for generating their own clean electricity, reducing reliance on the grid, and cutting energy costs. Houston, as one of the largest and fastest-growing cities in Texas, is a key market for Stardust Solar's expansion efforts.
"We believe that Texas is a solar powerhouse," said Mark Tadros, Founder and CEO of Stardust Solar. "With its large population, high energy demands, and increasing interest in renewable energy, the state offers important growth opportunities. The opening of our Houston franchise is just the beginning as we expand our footprint in the U.S. market."
Texas presents an opportunity for residential solar expansion due to its strong market demand, grid challenges, and untapped potential. Homeowners across the state are increasingly turning to solar energy to reduce costs and enhance grid resilience 1 Solar has proven to alleviate strain on the transmission and distribution grid, offering a sustainable and practical solution. Despite ranking second in the U.S. for rooftop solar generation potential, Texas currently produces only 1.87%1 of that potential, highlighting immense room for growth and investment in renewable energy and storage solutions.
Stardust Solar remains committed to giving back to our veterans. As an effort to show our appreciation for service members, it offers a 15% discount to all veterans to empower franchise owners like Mr. Hill to bring sustainable energy solutions to their local communities.
About Stardust Solar
Stardust is a North American franchisor of renewable energy installation services, including solar panels (PV), energy storage systems, and electric vehicle supply equipment. Stardust lends its brand and business management services to entrepreneurs looking to enter the renewable energy industry. Stardust franchisees install and maintain clean energy systems for residential and commercial purposes. As a franchisor, Stardust supplies its franchisees with the following products: solar PV equipment, energy storage equipment, and electric vehicle supply equipment. In addition, Stardust supports its franchisees with many services from corporate headquarters, including marketing, sales, engineering, plan sets, customer service, and project management.
Media and Investor Contacts:
Mark Tadros
Chief Executive Officer, Chairman and Director
For further information or media requests, please contact:
Glen Nelson,
Investor Relations and Communications:
glen@stardustsolar.com
t: (403) 763-9797
Email: investors@stardustsolar.com
Website: www.stardustsolar.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements, including statements relating to the Company's business plans and expected future growth, the Company expansion into the U.S. market, the expected growth of the solar industry and the expected demand for the Company's services. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, the Company disclaims any intention. It assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
1 https://www.houstonpublicmedia.org/articles/news/energy-environment/2024/02/13/477309/texas-ranks-3rd-in-the-u-s-for-residential-solar-power-generation-new-report-says/
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SOURCE: Stardust Solar Energy Inc.
