Sun Pacific Holding Corp (OTCMKTS: SNPW) was up over 20% on Wednesday after the Company announced its wholly owned subsidiary, Sun Pacific Power (“SPP”) has engaged the services of Invictus Risk Solutions to assess the opportunity of providing an insurance wrap for a $50 million-dollar funding of the company’s planned US based solar manufacturing plant through Lloyds of London, London corporate, and other supporting insurance markets. The financing is commencing at this time and underwriting analysis of the project will determine feasibility, testing, and other market considerations. 

Microcapdaily previously reported on the Company’s planned solar panel facility reporting on April 19, 2022: “SNPW announced it has signed an agreement with Pt. Idn Solar Tech to help build a US solar panel facility to manufacture up to 1GW of solar panels per year, leading annual revenues to $450 million. The project is currently in discussions with various states for our location and installation. This state-of-the-art processing will be done with local labor under the supervision and training from “IST” and will create cost effective panels to boost the economy and job creation. “IST” is currently producing 1GW of solar panels and also 1GW of solar cells, a level which is planned to be doubled this year. 

Sun Pacific Holding Corp (OTCMKTS: SNPW) is a publicly traded conglomerate transforming neighborhoods across the USA into smart cities powered by renewable energy. The Company encompasses the following subsidiaries: Sun Pacific Power Corp, Street Smart Outdoor Corp, MedRecycler, and National Mechanical Corp. Sun Pacific continues to build upon management’s knowledge and experience across all of its business sectors. The Company’s primary mission is to serve both its customers and shareholders, it does that by providing quality service and equipment, working to keep customers satisfied, and by doing its part in protecting the environment with smart green technology. 

Currently, Sun Pacific has 5 subsidiary holdings. Sun Pacific Power Corp., Bella Electric, LLC, National Mechanical Group Corp, Street Smart Outdoor Corp and MedRecycler RI. The most active of which are Sun Pacific Power and Street-Smart Outdoor Corp which creates unique advertising through solar bus stops, solar trashcans and “street kiosks.” Street Smart Outdoor Corp has contracts in place in Rhode Island, New Jersey, and Tallahassee, Florida, along with some other minor contracting work that management is currently reviewing. Sun Pacific Power builds competitively priced “Next Generation” solar panels and lighting products made primarily in the USA. Sun Pacific Power has eight world-wide manufacturing and assembly locations including five in the United States. Sun Pacific Power bus shelters are providing green, renewable, solar-powered shelters that will have digital or static displays for advertising purposes and things like being able to post Silver and Amber alerts. With large screens to display advertisements and relevant information, such as public notifications and safety alerts. Sun Pacific Power is now offering solar powered LED trash bins.   

Sun Pacific has an agreement in place with Fox-ess, a global leader in the development of inverter and energy storage solutions as a wholesale distributer for North and South America and Australia. FoxESS products are breaking new ground in the increasingly important clean energy field; offering customers the most advanced product features currently available, coupled with unrivalled performance, product longevity and technical reliability. The Company also has an agreement with a South Asian solar manufacturer to act as a original equipment manufacturer (“OEM”) for Sun Pacific Solar Panels and associated products.  

Earlier this year in January SNPW subsidiary Sun Pacific Power Corp (SPP) launched a new weblink for FoxESS Co. LTD after becoming an authorized distributor for the full FoxESS line of energy storage products throughout North America, South America and Australia. Sun Pacific Power web link https://sunpacificpower.com/fox-ess/ will allow its distributors and clients access to its product line. FoxESS will be exhibiting at All Energy in Melbourne Australia 26th to 27th October 2022. 

On April 19, 2022 SNPW announced it has signed an agreement with Pt. Idn Solar Tech to help build a US solar panel facility to manufacture up to 1GW of solar panels per year, leading annual revenues to $450 million. The project is currently in discussions with various states for our location and installation. This state-of-the-art processing will be done with local labor under the supervision and training from “IST” and will create cost effective panels to boost the economy and job creation. “IST” is currently producing 1GW of solar panels and also 1GW of solar cells, a level which is planned to be doubled this year.

Solar cells produced by “IST” will be used in the Company’s USA facility. Sun Pacific is actively engaged in sourcing raw material components and capital with an end goal to sell to developers/EPC in large scale solar projects. Additionally, at this time the Company is launching its OEM panel production in Indonesia which is under way for its Sun Pacific Power brand while it works at developing its USA factory. With ongoing negotiations, the construction of the new plant in the USA is being planned to utilize 20 square meters with 1GW production consisting of two 500MW fully automated solar panel production lines. 

$SNPW Strong watch on nice after hours news 👀👇 https://t.co/PLt9hAYZjN

— Joe Cazz (@Jcazz17) October 18, 2022

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Earlier this year SNPW announced its wholly owned subsidiary, Sun Pacific Power (“SPP”) has structured an agreement with Marine Electric Systems Inc. to handle their battery service and repair for FoxESS and technology development. Marine Electric Systems, Inc. Is a very well-established company serving a range of important clients including the US Navy. The North American battery market was valued at USD 22.51 billion in 2020, and it is anticipated to reach USD 53.84 billion by 2027 

Marine Electric Systems Inc, is located in South Hackensack, New Jersey. Marine Electric makes electronic devices (power supplies, battery chargers) for the U.S Navy. The company started in Brooklyn many years ago, wiring ships for the Navy during World War II. It employs about 30 people in its 25,000-square-foot manufacturing facility. Marine Electric Systems is an engineering and vertically integrated manufacturing firm which has successfully designed, produced and delivered its products to the U.S. military for over 80 years. 

On October 18 SNPW announced its wholly owned subsidiary, Sun Pacific Power (“SPP”) has engaged the services of Invictus Risk Solutions to assess the opportunity of providing an insurance wrap for a $50 million-dollar funding of the company’s planned US based solar manufacturing plant through Lloyds of London, London corporate, and other supporting insurance markets. The financing is commencing at this time and underwriting analysis of the project will determine feasibility, testing, and other market considerations. 

Nicholas Campanella, CEO of Sun Pacific Holding Corp, stated, “As part of our renewable energy platform we move through our underwriting, analysis and feasibility study. We have identified property that will add high value to our platform of becoming a key solution in the solar industry while producing over 1GW of solar panels per year to our customers. This project should make an important contribution for the emerging solar industry in its fast-growing market.” We are excited to be working with a strong team of advisors and underwriters who will provide our insurance wrap in cooperation with the State officials. The state’s team is providing a strong access to a labor force as well classifying our proposed property as a foreign trade zone designation.”  

Paul Rowland, Senior Partner of Invictus Risk Solutions, stated: “I was very impressed with Nick’s experience and strengths and by the detail and positivity of the Sun Pacific business plan. Accordingly, I am certain that we can find a way to provide a “best in class” and “best in market” service and solution. This will support the risk transfer structure that the Sun Pacific business model and funding require in the short term. In the long term, we hope to establish a strategic friendship and partnership going forward with Nick and his panel of other valued advisors. The purpose of our engagement is to offer a bespoke suite of insurance products that “wrap” around the proposed investment and project. Our singular goal is to protect all parties by advancing, amongst others, account receivable, construction, financial, liability, management, and operational elements to enhance and support the security of the proposed project. By offsetting the risk, we seek to drive the enthusiasm and positivity of the proposed key funders to engage.”  

$SNPW SNPW Subsidiary Sun Pacific Power Corp has engaged the services of Invictus Risk Solutions to Provide Insurance Wrap for $50 Million Funding of its Solar Manufacturing Plant#TuesdayThoughts @SunPacificPower@frontpagestocks @ProPennyPicks @stockzeushttps://t.co/9h4eFnzUZ8 pic.twitter.com/J1b7PkicWy

— SCStocks (@SCStocks) October 18, 2022

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Currently trading at a $8.9 million market valuation SNPW is still pink current but well on its way to OTCQB; an SEC filer the Company gets its filing’s out on time and filed its 10K in April and its most recently 10Q in August showing $3.2 million in liabilities. SNPW OS is 974,728,678 shares making the Company cheap compared to many much lesser Company’s on the exchange. SNPW is Company trying to do really big things and an exciting story developing in small caps; earlier this year they signed an agreement with Pt. Idn Solar Tech to help build a US solar panel facility to manufacture up to 1GW of solar panels per year, leading annual revenues to $450 million according to the Company press release. More recently the Company reported they have engaged the services of Invictus Risk Solutions to assess the opportunity of providing an insurance wrap for a $50 million-dollar funding of the company’s planned US based solar manufacturing plant through Lloyds of London, London corporate, and other supporting insurance markets. If even half of this pans out current price levels will be history but as we know in penny stocks many times they don’t pan out. We’re not saying that’s the case here we’re just saying.    Microcapdaily has been reporting on SNPW for years including in late 2020 as the stock was setting up for its historic rise from low sub pennies to $0.35 per share. We will be updating on SNPW when more details emerge so make sure you are subscribed to Microcapdaily.

Disclosure: we hold no position in SNPW either long or short and we have not been compensated for this article.