The Peck Company Holdings and GreenBond Advisors Form Strategic Green Bond Partnership to Align Capital for Construction of New Solar Projects

Partnership Will Acquire, Build and Own the New Solar Projects

BURLINGTON, Vt.--()--The Peck Company Holdings, Inc. (NASDAQ: PECK) (the “Company” or “Peck”), a leading commercial solar engineering, procurement and construction (EPC) company, is pleased to announce a new investment partnership designed to increase Peck’s access to capital for the construction of new solar projects and to scale its existing pipeline of new EPC business. Peck has partnered with GreenSeed Investors LLC and its affiliate GreenBond Advisors LLC to gain access to the rapidly growing Green Bond segment of the fixed income markets. Of note, this partnership provides Peck with access to project growth capital through additional EPC contract work from Green Bond proceeds while improving working capital and strengthening liquidity ratios.

The world is transitioning to renewable energy. For this transition to occur, new renewable energy infrastructure must be built. Green Bonds are the financial instruments focused on financing this transition, directing investor capital to the projects that are building this new infrastructure and delivering competitive returns to investors in the process.

The Peck Company Holdings Chief Executive Officer, Jeffrey Peck, commented, “We are so pleased to announce this partnership on the 50th anniversary of Earth Day. We believe we are in the early innings of a renewable energy revolution. Over the next 50 years, we will help lead the transition to our renewable energy independence. By partnering with GreenBond Advisors and their affiliate companies, Peck will be able to tap the rapidly expanding Green Bond market for dedicated resources to fuel our organic growth and solar project acquisition strategy on a scale that far exceeds Peck’s current balance sheet capability. Now developers working with Peck can secure a pipeline of projects knowing that Peck can bring both the construction expertise and the capital with a certainty of funding that is required for rapid growth. Our shareholders should also recognize that this strategic partnership with Green Bond Advisors will support Peck’s growth with an additional source of revenue through EPC contract work while continuing to improve our working capital and strengthening our liquidity ratios.”

William Dale, Chief Executive Officer of GreenBond Advisors LLC, commented, “In times of uncertainty, it’s good to remember that the sun will still shine, and that we’ll always need electricity. Green Bonds provide stable, secure investments that create jobs, strengthen America’s power infrastructure and ensure a cleaner, healthier environment for our communities. By partnering with Peck, we get an early look at the best solar projects in the market. These solar project assets are the backbone of our Green Bonds allowing us to provide stable, long-term competitive yields to our Green Bond investors. We believe that combining Green Bond financing directly with the construction capabilities of Peck offers a unique advantage as we transition our economy to renewable energy.”

Green Bonds are any type of bond instrument where the proceeds will be exclusively applied to eligible environmental projects and whose structure is aligned with the International Capital Markets Association’s “Green Bond Principals”. They are regulated instruments subject to the same capital market and financial regulation as other fixed income securities. Swedish investment bank SEB, underwriter of the first Green Bond in 2008, has forecast the Green Bond market will exceed $1 Trillion by the end of Q4 2020. Demand for these investment vehicles is significantly higher than what is currently available, resulting in repeated over-subscription for new Green Bonds and making Green Bonds an ideal vehicle for raising capital in the renewable energy sector.

GreenBond Advisors was recently formed to deliver financial product innovation into the Green Bond market. They have created a new Green Bond product that allows risk-adverse investment capital to be more easily directed into new green energy infrastructure development at an earlier stage of the project development cycle than is typically the case for existing Green Bonds. This innovation by Green Bond Advisors will provide Peck with a strategic advantage in the marketplace as an EPC company, because Peck can bring a level of funding certainty to developers for early stage projects that will meet the project performance criteria.

About GreenBond Advisors LLC

Headquartered in New York City, NY, GreenBond Advisors was recently formed to deliver financial product innovation into the Green Bond market with new Green Bond product designs that allow risk-adverse investment capital to be more easily directed into new green energy infrastructure development. GreenBond Advisors works with an ecosystem of affiliate companies and partnerships designed to help conservative investors earn competitive rates of return while making a measurable impact on the transition to a world powered by clean energy. Please visit www.greenbondadvisors.com for additional information.

About The Peck Company Holdings, Inc.

Headquartered in South Burlington, VT, The Peck Company Holdings, Inc. is a 2nd-generation family business founded in 1972 and rooted in values that align people, purpose, and profitability. Ranked by Solar Power World as one of the leading commercial solar contractors in the Northeastern United States, the Company provides EPC services to solar energy customers for projects ranging in size from several kilowatts for residential properties to multi-megawatt systems for large commercial and utility scale projects. The Company has installed over 125 megawatts worth of solar systems since it started installing solar in 2012 and continues its focus on profitable growth opportunities. Please visit www.peckcompany.com for additional information.

Forward Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.

The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.

All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.

Contacts

Michael d’Amato
IR@peckcompany.com
p802-264-2040

Contacts

Michael d’Amato
IR@peckcompany.com
p802-264-2040