Mr. Brian Roth reports

THREE SIXTY SOLAR SIGNS LETTER OF INTENT FOR DEMONSTRATION TOWER SALE IN INDIAN MARKET

Three Sixty Solar Ltd. has signed a non-binding letter of intent with Greenlit Energy Systems to proceed with the sale and installation of a Three Sixty Solar tower in South India.

Key points:

• Three Sixty has signed an LOI with Greenlit Energy Systems indicating its intent to install a solar tower at a location in the south of India.
• Power generated from the tower will be utilized by a local university or similar institution, with potential grid connection for net metering.
• The parties are already engaged with multiple fabricating organizations to source fabrication of solar towers in India, with the goal to finalize costs for a binding purchase order by mid-January, 2024.

Three Sixty Solar's chief executive officer, Brian Roth, states: "I'm excited to be expanding our global reach with this signed the letter of intent with Greenlit Systems in India. I expect this initial demonstration to prove the utility of solar towers in their market and I am encouraged at the prospects of working collectively to build the business there. Understanding the space constraints in the heavily populated and economically developing region, I believe that our towers provide an ideal solution and co-operation with Greenlit Systems who have been working there successfully for eight years already is a great fit."

Greenlit Energy Systems is a renewable energy services company providing design, engineering, installation, and operation and maintenance services for utility- and megawatt-scale solar systems in India. The company provides end-to-end power solutions to customers and has delivered more than 10 MW of installed capacity in the last three years alone.

Greenlit Energy Systems founder and director Abhiram Duvvuru adds: "We met Mr. Roth and were introduced to Three Sixty Solar's solar tower concept at the RE+ trade show and believe that this technology can be a great opportunity to increase the deployment of solar power in India. We are looking forward to kicking off this initial demonstration in South India and to working with Three Sixty to deploy solar towers broadly throughout our country."

About Three Sixty Solar Ltd.

Three Sixty Solar is an all-Canadian enterprise which focuses on solar equipment supply to the global market. The company's premier product line is the patent-pending SVS series commercial solar tower. According to Statistics MRC, the solar farm sector is set to grow to around $296-billion by 2028. Three Sixty Solar's unique tower concept is a high-density, clean energy solution that uses up to 90 per cent less land space than conventional solar farms and can co-locate adjacent to homes, retail, agriculture and industry, thus minimizing line loss and maximizing energy delivery in places where renewables have been difficult to install until now. In multitower applications, developers can utilize the spaces between towers to better leverage land assets through additional revenue-generating activities. Designed to withstand major instances of extreme weather, Three Sixty Solar offers a clean energy solution with minimal environmental and habitat impact.

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