Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Canada
  5. Harborside Inc.
  6. News
  7. Summary
    HBOR   CA4116201076


SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Harborside Announces Planned Commercial-Scale Renewable Energy Microgrid Project at Salinas Production Campus

10/12/2021 | 07:30am EST

Harborside Inc. announced plans to install an onsite renewable energy microgrid that is expected to include 4.9 MW of solar panels and 6 MWh of battery storage tied to advanced system and load management controls (the "Project") at the company's 47 acre production campus located in Salinas, California (the "Production Campus"). Upon its planned completion in the second half of 2022, the cutting-edge microgrid energy system is expected to produce approximately 8,600,000 kWh of electricity each year, which is enough clean renewable energy to offset up to 100% of the Company's current power consumption at the Production Campus. According to figures provided by the US Environmental Protection Agency's greenhouse gas equivalencies calculator, the Project will negate approximately 6,095 tons of atmospheric CO2 emissions annually, which is the same carbon offset as approximately 11.7 square miles (7,467 acres) of forest and is equivalent to avoiding more than 15.3 million miles of passenger car driving each year. When complete, the Project is expected to cover approximately 10 acres of the Production Campus The battery storage system, in addition to reducing peak load demands, will pair with other on-site energy assets to provide multiple days of backup power, allowing Harborside to continue operations as normal and protect valuable inventory in the event of a disruption to the utility supplied power. The Project will be fully funded and installed by Scale Microgrid Solutions ("Scale Microgrid"), a vertically integrated distributed energy company. The company intends to enter into a power purchase agreement (the "Power Purchase Agreement") with Scale Microgrid in the first half of 2022. Once the Project is fully functional, the transactions contemplated by the Power Purchase Agreement are expected to immediately result in lower operating costs, with an estimated cumulative net energy savings of more than $12.5 million over a 20 year period. It is also expected that the Project will allow Harborside to avoid purchasing carbon offset credits, which would otherwise be required by California regulations beginning on January 1, 2023.

ę S&P Capital IQ 2021
All news about HARBORSIDE INC.
11/29Harborside Inc. Reports Third Quarter 2021 Financial Results
11/29Harborside Inc. Announces a Private Placement of Equity Units of up to US$10 Million Co..
11/29Harborside Announces Business Combination with Urbn Leaf and Loudpack Creating StateHou..
10/15Harborside Inc. Announces Retail Partnership with RNBW
10/12Harborside Announces Planned Commercial-Scale Renewable Energy Microgrid Project at Sal..
09/27Harborside Inc. Engages Bay Street Communications to Provide Investor Relations Service..
09/27HARBORSIDE INC : . Engages Bay Street Communications To Provide Investor Relations Service..
09/27HARBORSIDE : Expected to Transition to Domestic Issuer Status in United States
09/16HARBORSIDE INC : . Announces Strategic Agreement in Cannabis Crop Steering Research
09/16Harborside Inc. Enters into A Strategic Research Agreement with Utah State University
More news
Financials (USD)
Sales 2021 70,7 M - -
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 50,9 M 50,7 M -
Capi. / Sales 2021 0,72x
Capi. / Sales 2022 0,50x
Nbr of Employees -
Free-Float 50,5%
Duration : Period :
Harborside Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Mean consensus BUY
Number of Analysts 2
Last Close Price 0,62 $
Average target price 2,32 $
Spread / Average Target 274%
Managers and Directors
Matthew K. Hawkins Chairman & Chief Executive Officer
Tom DiGiovanni Chief Financial Officer
Ahmer Iqbal Chief Operating Officer
John Hanks Nichols Secretary & Chief Compliance Officer
Peter Kampian Director
Sector and Competitors