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RONKONKOMA, N.Y., Nov. 08, 2024 (GLOBE NEWSWIRE) -- Pineapple Energy Inc. (Nasdaq: PEGY) (Pineapple Energy) (“Pineapple” or the “Company”), a leading provider of sustainable solar energy and backup power to households, businesses, municipalities, and for servicing existing systems, today announced that it is changing its corporate name to SUNation Energy, Inc. (“SUNation”). The effective date for the name change will be announced in the near term.
The corporate name change and a proposal to approve the redomestication and change in the Company’s legal state of incorporation from Minnesota to Delaware were each overwhelmingly approved at a Special Meeting of Shareholders held on November 4, 2024.
“The adoption of SUNation Energy, Inc. as our corporate name leverages the significant brand equity we have built over the last 20-plus years by consistently providing residential and commercial customers with an outstanding end-to-end experience, high-quality engineering and installation, and dependable aftermarket support,” said Scott Maskin, Interim Chief Executive Officer. “As one of the industry’s original solar energy companies, the SUNation name more clearly defines who we are as company, reinforces our history, and reflects our values and culture. As proud as we are of our legacy as a trusted provider of solar electricity with battery storage, we are more excited about the opportunities that lie ahead.”
Each of the above noted proposals are described in more detail in the Company’s Form DEF 14A filed with the U.S. Securities and Exchange Commission (“SEC”). The Company will disclose the final vote results on a Current Report on Form 8-K to be filed with the SEC. We will also announce the effective dates of the reincorporation and name change in a subsequent release in the coming week or so, as well as any information related thereto.
About Pineapple Energy
Pineapple is focused on growing leading local and regional solar, storage, and energy services companies nationwide. Our vision is to power the energy transition through grass-roots growth of solar electricity paired with battery storage. Our portfolio of brands (SUNation, Hawaii Energy Connection, E-Gear) provide homeowners and businesses of all sizes with an end-to-end product offering spanning solar, battery storage, and grid services.
Forward Looking Statements
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Company’s current expectations or beliefs and are subject to uncertainty and changes in circumstances, including the Company’s expectations regarding its ability to effect the reverse stock split and regain compliance with Nasdaq’s continued listing standards. While the Company believes its plans, intentions, and expectations reflected in those forward-looking statements are reasonable, these plans, intentions, or expectations may not be achieved. For information about the factors that could cause such differences, please refer to the Company’s filings with the Securities and Exchange Commission, including, without limitation, the statements made under the heading “Risk Factors” in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and in subsequent filings. The Company does not undertake any obligation to update or revise these forward-looking statements for any reason, except as required by law.