Solar Alliance Energy Inc. announced several contract signings that have contributed to a backlog of contracted projects exceeding $2.3 million and provide an update on its grant-supported project pipeline, which currently totals $3.7 million. The Company is currently working with clients to submit projects for U.S. federal grant applications with a combined $2.6 million capital cost, in addition to $1.1 million in grant-supported projects announced on April 15, 2024. The grant applications are for United States Department of Agriculture ("USDA") Rural Energy for America Program ("REAP") eligible projects.

Subject to USDA approval, the Company anticipates these projects will be added to the Company's backlog as early as the end of third quarter, 2024. The Company is also announced it has signed contracts for four medium-sized commercial projects for retail, agriculture and education customers in the Southeast U.S. The four projects have a combined capital cost of $615,000 and are located in Tennessee, Kentucky and Alabama. The project in Alabama is the first for Solar Alliance in the state.

All four projects are expected to be built in 2024. These projects contribute to a backlog of contracted projects for Solar Alliance that now totals more than $2.3 million, supporting the Company's growth through 2024. The Company has managed the backlog to a level that potentially allows for the rapid conversion to revenue while still maintaining highest standards of execution.