MANALAPAN, N.J, April 06, 2018 (GLOBE NEWSWIRE) -- Sun Pacific Holding Corp. (OTCQB:SNPW) (the Company) a green energy company specializing in solar and waste to energy technologies, would like to update its shareholders on commercial projects, strategic relationships and enhancements to capital structure. Sun Pacific Holding is building a “Next Generation” green energy company by offering competitively priced solar panel and lighting products. We own and operate several subsidiaries including Sun Pacific Power Corp., Street Smart Outdoor Corp. and Sun Pacific Security Corp and National Mechanical Group
Recent Company Highlights
- Elimination of Convertible Debt: All prior convertible debt was eliminated and converted to equity. As of March 30, 2018 Sun Pacific Holding Corp. has 60,958,373 shares outstanding.
- Key Contracts: We signed contracts with both Star Metro Transportation Authority in Tallahassee, FL and the State of Rhode Island Transportation Authority.
- Renewable Energy: Contracted to build the first plant in New England capable of treating medical waste that also creates clean energy.
- Recent Solar Tariffs: We expect to benefit from recent legislation placing tariffs of 30 percent on imported solar panel technology.
“With the recent contracts we have signed and our expansion efforts underway, now is the ideal time to provide an in-depth update to the investment community,” stated Nicholas B. Campanella, Chairman and CEO of Sun Pacific Holding Corp. Mr. Campanella continued, “In addition to several key contracts, we have strengthened both our balance sheet and industry relationships. We are confident in our future, as is evidenced in our recent 10-K filing showing management and directors own 55.71 percent of the shares outstanding. I am confident that the strides we have made over the last several months will allow us to remain focused on our principal objective, increasing shareholder value.”
Street Smart Outdoor
Street Smart Outdoor is our street furniture outdoor advertising subsidiary currently maintaining advertising space on more than 1000 bus shelter faces, bus benches, smart solar digital shelters and solar trash bins. We are projecting $63 million in revenue over 10-years from our contract with the various Transit Authorities. The contract calls for Street Smart Outdoor to manage advertising space on more than 1000 bus shelters and benches. Street Smart Outdoor has also formally signed a ten year contract with the state of Rhode Island Transportation Authority to manage and sell advertising space on over 730 bus shelter faces.
Sun Pacific Power Corp.
Sun Pacific Power provides solar powered bus shelters, solar powered LED trash bins, solar products and lighting products. In January 2018 the U. S. Government imposed tariffs of 30 percent on imported solar panel technology to protect domestic manufacturers. In the past, the $28 billion solar industry has sourced about 80 percent of its solar panel products from imports. As we plan to build our U. S. based manufacturing operations, Sun Pacific Power is in an excellent position to benefit from these tariffs.
Sun Pacific Security Corp.
Sun Pacific Security has not begun operations in the security sector, but is reviewing plans to provide customers the latest in security automation systems. Sun Pacific Security will utilize your computer, smartphone or tablet to view secure live or recorded video, control the thermostat and control the lighting. We also offer fire alarm installation and card access granting entry to buildings and secure areas at the point of entry.
About Sun Pacific Holding Corp.
Sun Pacific Holding Corp. is building a “Next Generation” green energy company offering competitively priced solar panel and lighting products. We work closely with the finest design, engineering, integration and installation firms in order to deliver turnkey solar and other energy efficient solutions. Through our subsidiaries, Sun Pacific Holding Corp. provides solar bus stops, solar trashcans and “street kiosks” utilizing our unique advertising offerings that provide State and local municipalities with costs efficient solutions. As part of our effort to expand our green energy marketplace, we have recently started the process to develop and build out a Waste to Energy plant in the State of Rhode Island. Additionally, Sun Pacific Holding Corp signed a Letter of Intent to build and operate our New England Renewable Energy Solutions project in Johnston, Rhode Island. This medical waste to energy project could process as much as 70 tons of waste per day and generate up to 7 megawatts of electricity. Plans call for waste to be reduced in volume by 93% without harmful air emissions, while generating electricity that will be tied into the local utility grid, which could potentially create a multi-million dollar recurring revenue stream for our company. Sun Pacific Holding Corp. has also signed a Letter of Intent to purchase 60 acres of land to build a solar and wind farm.
Safe Harbor and Forward-Looking Statements
This news release contains statements that involve expectations, plans or intentions (such as those relating to future expansion or financial results) and other factors discussed from time to time in the Company's OTC Markets filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Source:Sun Pacific Holding Corp.