ABCO Energy, Inc. (OTCpink: “ABCE”) Tucson, Arizona (May 18, 2022), the Arizona provider of integrated energy solutions, is pleased to announce the successful sale of a complete retrofit of a commercial project in Tucson Arizona [“Project”] and the potential long term maintenance contract. Valued at $511,000, the sale represents our most significant recovery of commercial business since the covid crunch started in 2019.
ABCO completed annual sales of $1,372,000 (unaudited) in the fiscal year ended December 31, 2021, so this commercial sale alone will increase the potential sales in 2022 by nearly 40%. The long-term management contract that will be signed at completion of the project will bring in many years of service revenue. ABCO projects the Project will be completed before the end of quarter three 2022. ABCO has also experienced increases in all sales categories of residential solar, air conditioning and maintenance service in the first quarter of 2022.
ABCO started a major effort to increase its remove and replacement business in 2021 in order to meet the demand for rehabilitation of failed systems. This is the fourth major system replacement ABCO has performed in the last six months with replacements of 744, 223, 204 and now 926 solar panels and many related inverters. ABCO also completed more than 25 residential remove and replacement contracts for roof repairs and maintenance during 2021.
“As a leading energy solutions provider, ABCO is committed to delivering innovative and cost-effective energy performance systems. We work step by step with our customers from start to finish, by providing financing, designing and installation services to improve the properties energy efficiency performance” said David Shorey, President of ABCO. “In addition to the project, equipment and installation services annual maintenance contracts will follow for many years on the Project This is the first major contract to come to ABCO since the shutdown period of the coronavirus pandemic, and we are proud to announce it will allow our employees to keep working through these difficult times.”
About ABCO Energy
ABCO Energy, Inc. is a commercial and residential installer of Photovoltaic (PV) solar systems, LED lighting solution and HVAC products and services. ABCO Energy, Inc. is a Nevada corporation, which maintains offices located in Tucson and Phoenix, Arizona. ABCO is a fully reporting public company trading under the symbol ABCE. Since its inception in 2008, ABCO Energy has taken great pride in delivering quality solar installations and has a reputation for outstanding customer service. These qualities have allowed us to grow the business primarily through referrals, many of those based on actual customer reviews.
Safe Harbor Statement
Note: Certain statements in this news release may contain “forward-looking” information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-5 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than the statements of fact, included in this press release may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. ABCO undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.