Vancouver, British Columbia--(Newsfile Corp. - November 21, 2024) - Stardust Solar Energy Inc. (TSXV: SUN) ("Stardust Solar" or the "Company"), a leading provider of residential solar energy solutions, is pleased to announce that the Company has applied for Master Franchisor Permits ("Permits") in 42 U.S. states, setting the stage for growth across North America. The Company plans to add approximately 15 to 25 new franchise locations across its network annually, with the goal of an approximate 80/20 growth split between the United States and Canada. Management expects Stardust Solar to surpass 100 franchise regions through organic growth and strategic acquisitions by the end of 2025.
Once granted, the permits will enable the Company to establish new franchise regions across the United States. This will allow regional leaders to develop local markets, establish new operations, and accelerate expansion efforts. Stardust Solar expects to obtain Permits for the initial 42 U.S. states during the first quarter of 2025 and anticipates obtaining Permits in the remaining eight states during the first half of 2025.
"Securing these permits will represent another milestone in Stardust Solar's expansion strategy," said Mark Tadros, Chairman and CEO of Stardust Solar. "By unifying essential operations-lead generation, sales, marketing, installations, and financing partnerships-under one cohesive system, we've built a platform that gives our franchisees a competitive advantage. This integration allows us to deliver consistent support across our growing network, enhance margins, and provide a positive customer experience. In a fragmented solar market, we believe that this approach positions Stardust Solar to scale our business while maintaining the high quality and reliability customers expect."
Distinct Market Advantages for Stardust Solar Franchisees
Stardust Solar franchisees gain additional benefits that strengthen their competitive position:
Accredited Training: CSA and NABCEP certifications ensure franchisees meet industry-leading standards for solar installations.
Tesla Powerwall Distribution: As certified resellers and Tesla Powerwall installers in all U.S. and Canadian regions, Stardust's franchisees can access advanced energy storage solutions that enhance their product offerings.
Underserved Market Opportunities: Many franchise territories target regions with high demand for renewable energy solutions but limited local competition.
Stardust Solar's strategic planning, partnerships, and support drive franchise growth and profitability while meeting rising consumer demand for residential solutions. Using territory growth as a key performance indicator, the Company will measure expansion success and provide transparent updates to investors, reinforcing its commitment to long-term value creation and industry leadership.
About Stardust Solar
Stardust is a North American franchisor of renewable energy installation services, including solar panels (PV), energy storage systems, and electric vehicle supply equipment. Stardust lends its brand and business management services to entrepreneurs looking to enter the renewable energy industry. Stardust franchisees install and maintain clean energy systems for residential and commercial purposes. As a franchisor, Stardust supplies its franchisees with the following products: solar PV equipment, energy storage equipment, and electric vehicle supply equipment. In addition, Stardust supports its franchisees with many services from corporate headquarters, including marketing, sales, engineering, plan sets, customer service, and project management.
Media and Investor Contacts:
Mark Tadros
Chief Executive Officer, Chairman and Director
For further information or media requests, please contact: Glen Nelson, Investor Relations and Communications: glen@stardustsolar.com t: (403) 763-9797
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements, including statements relating to the Company's business plans and expected future growth, and the Company's ability to obtain the Permits within the timelines described herein or at all. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Any number of factors could cause actual results to differ materially from these forward‐looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, the Company disclaims any intention. It assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
