Victory Square Technologies inks binding LOI to invest in renewable energy company Stardust Solar

Victory Square Technologies Inc. (CSE:VST) (OTCMKTS:VSQTF) (FRA:6F6) revealed that it has signed a binding letter of intent (LOI) on April 23, 2021, to invest in the renewable energy company Stardust Solar, which operates in the US and Canada. 

Founded in 2017, Stardust Solar is a leader in renewable energy education in Canada, providing CSA/NABCEP approved design and installation training with hands-on experience. Stardust Solar is also one of the first companies in North America to offer a franchise opportunity dedicated to the installation of solar PV systems. 

Vancouver, British Columbia-based Victory Square Technologies, which builds, acquires, and invests in promising start-ups, said the details of the acquisition will be disclosed after the completion of the deal. The investment will be completed in compliance with CSE policies and is subject to due diligence by the company. 

READ: Victory Square Technologies investee Immersive Tech inks letter of intent to sell its UNCONTAINED VR attraction to Autobahn Indoor Speedway

In a statement, Victory Square CEO Shafin Diamond Tejani said: “This strategic investment aligns with our company’s vision of working with technology and sustainability influencers as we endeavour to eradicate damage to our environment and create a more sustainable and eco-friendlier footprint.”

Tejani, who has a knack for spotting big trends early, noted that it is “not just an environmental issue, it’s an economic opportunity as well.”

“Good innovation investing focuses on technologies and companies that are likely to have a positive impact on the environment, our society, and the world’s ability to create further innovations,” Tejani added.

Stardust Solar does the installation of solar photovoltaic systems for residential homes and businesses.

The company has a network of over 2,000 trained professionals in Canada and the US, all trained and certified in renewable energies. The company recently acquired the Canadian Solar Institute. It regularly holds certified training sessions across North America on renewable energies, PV installation, EV charger installation, solar hot water, wind energy, and wave energy. The courses have been approved by the CSA as prerequisite training to take the Canadian national Construction Electrician (NOC 7241) Solar Photovoltaic exam. It is also a provider of the NABCEP Associates Exam.

Meanwhile, the company has been keeping its pledge to “plant 10 trees in a country affected by deforestation” and plant 25 trees for every solar student certified.

Separately, the company announced the grant of 300,000 incentive stock options to consultants of the company at an exercise price of $0.80 per share. The options are exercisable for a period of two years.

Contact the author Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive

Story by ProactiveInvestors