Mr. Brian Roth reports

THREE SIXTY SOLAR INKS MOU FOR TECHNOLOGY DEPLOYMENT IN MIDDLE EAST, NORTH AFRICA, AND TURKEY

Three Sixty Solar Ltd. has signed a memorandum of understanding (MOU) for the sourcing, fabrication, implementation and distribution of vertical solar tower systems within the Middle East, North Africa and Turkey.

Key points:

• On Jan. 2, 2024, Three Sixty Solar signed the MOU with a consortium of partners, including Infraforward Strategies (United States), Tareeq Al-Ahmadi Company (Iraq), Fibercom Company (Turkey), and Zamil Group Trade & Services Company (KSA).
• The MOU focuses on collectively rolling out Three Sixty Solar's vertical solar tower technology in the Middle East, North Africa and Turkey, with opportunities for future geographic expansion upon success in the defined region.
• The partners have already begun co-operative efforts on material and fabrication sourcing in the region, as well as begun exploring commercial opportunities in Iraq, Saudi Arabia and Turkey, with further work kicking off the week of Jan. 15, now that the MOU is signed.

Ahmed Alomary, Infraforward Strategies' co-founder and managing partner, states: "We are excited to have signed this MOU with Three Sixty Solar, and our partners in the Middle East and Turkey. Since meeting Three Sixty Solar early in 2023, we have held the belief that their technology can be well applied in the renewable energy and telecom projects that we have been working on overseas. With the addition of our partners in Iraq and Saudi Arabia, we believe that we can achieve deployment of the technology quickly and, with our partners in Turkey, we believe we can make the costs competitive."

Collectively, the signatories to the MOU have extensive experience in building infrastructure projects focused on infrastructure in Iraq, Saudi Arabia and Turkey. Infraforward Strategies is an international leader in the development of digital infrastructure integrated with renewable energy systems. Tareeq Al-Ahmadi Company is an experienced engineering, construction and development company providing turnkey systems in Iraq to support next-generation technologies. Similarly, Fibercom is an engineering, construction and development company providing turnkey systems in Turkey. Zamil Group Trade and Services Company is a well-established trading company providing added value to its oversees partners with a wide range of products and services that it provides to eight market segments in Saudi Arabia, including a renewable energy product set, along with metal sourcing, fabrication and sales channel relationships.

Brian Roth, Three Sixty Solar's chief executive officer, states: "After several months working with Infraforward Strategies, I am pleased that we were able to reach agreement on how to collectively explore the many opportunities to deploy our technology in the Middle East, North Africa and Turkey. The group of partners that Infraforward was able to bring to the table is exciting and I believe they have the ability to drive rapid implementation in the region. I am looking forward to moving ahead on projects in the near future."

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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