Three Sixty Solar Ltd. (NEO: VSOL) (OTC: VSOLF), a globally-focused alternative energy design, manufacturing, and sales organization specializing in solar equipment, has officially entered into a Memorandum of Understanding (MOU) for the sourcing, fabrication, implementation, and distribution of vertical solar tower systems across the Middle East, North Africa, and Turkey.
Key Points:
- The MOU, signed on January 2, 2024, involves Three Sixty Solar partnering with a consortium including Infraforward Strategies (US), Tareeq Al-Ahmadi Company (Iraq), Fibercom Company (Turkey), and Zamil Group Trade & Services Company (KSA).
- The collaborative effort aims to introduce Three Sixty Solar’s vertical solar tower technology to the specified region, with potential for further expansion into additional geographies based on successful implementation.
- Cooperative efforts on material and fabrication sourcing in the region have already commenced, and exploration of commercial opportunities in Iraq, Saudi Arabia, and Turkey is underway, with intensified efforts scheduled to begin in the week of January 15.
Ahmed Alomary, Co-Founder and Managing Partner of Infraforward Strategies, expressed excitement about the collaboration, emphasizing the potential application of Three Sixty Solar’s technology in renewable energy and telecom projects. He highlighted the belief that quick and cost-competitive technology deployment can be achieved with the involvement of partners in Iraq, Saudi Arabia, and Turkey.
The signatories to the MOU collectively bring substantial experience in infrastructure projects within Iraq, Saudi Arabia, and Turkey. Infraforward Strategies specializes in digital infrastructure integrated with renewable energy systems, while Tareeq Al-Ahmadi Company and Fibercom are experienced engineering, construction, and development companies providing turnkey systems in Iraq and Turkey, respectively. Zamil Group Trade and Services Company, a well-established trading company in Saudi Arabia, contributes expertise in renewable energy products, metal sourcing, fabrication, and sales channel relationships.
Brian Roth, CEO of Three Sixty Solar, expressed satisfaction with the agreement and the consortium of partners brought to the table by Infraforward Strategies. Roth anticipates swift progress in exploring and executing various opportunities to deploy the innovative solar technology in the specified regions.
The collaboration signifies a strategic move for Three Sixty Solar, positioning the company for potential growth and impactful technology deployment in the Middle East, North Africa, and Turkey.
