SAN FRANCISCO, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), the nation’s leading provider of residential solar, battery storage and energy services, today sets the record straight in a detailed response to a deceptive report issued by short-seller Muddy Waters on July 28, 2022.
Sunrun is a respected leader in making solar energy accessible to consumers across the country. With a 15-year track record, including seven years as a publicly traded company, Sunrun stands by its independently audited financial statements, risk disclosures, and information provided to investors, regulators, and taxing authorities. Sunrun is committed to operating with the highest integrity, and utilizes industry-standard financing vehicles.
Muddy Waters attempts to mislead their readers with grossly false and inaccurate assertions in a brazenly self-serving effort to mitigate recent losses in their short position at the expense of Sunrun’s existing investors. We address Muddy Waters’ report in detail on our Investor Relations website, buWater's t it's important to highlight the following two core points:
“Muddy Waters has its ‘facts’ wrong. For over 10 years, our investors, lenders and independent authorities have closely diligenced our tax and valuation procedures, which Muddy Waters incorrectly describes,” said Mary Powell, Sunrun’s CEO and Director. “Sunrun works hard to educate all of our stakeholders, and we appreciate that our investors have spent the time to understand renewable energy financing structures. Since the issuance of Muddy Waters' report five days ago, Sunrun’s stock has increased 27% and outperformed direct residential solar peers, the broader solar sector, and the overall stock market.”
For more information on how Muddy Waters got it wrong, see investors.sunrun.com/facts
Footnotes:(1) Muddy Waters’ research note, p.4., where the author states “...we were unable to obtain any RUN system appraisals….”
About SunrunSunrun Inc. (Nasdaq: RUN) is the nation’s leading home solar, battery storage, and energy services company. Founded in 2007, Sunrun pioneered home solar service plans to make local clean energy more accessible to everyone for little to no upfront cost. Sunrun’s innovative home battery solutions bring families affordable, resilient, and reliable energy. The company can also manage and share stored solar energy from the batteries to provide benefits to households, utilities, and the electric grid while reducing our reliance on polluting energy sources. For more information, please visit www.sunrun.com.
Investor & Analyst ContactPatrick JobinSenior Vice President, Finance & IRinvestors@sunrun.com
Media ContactWyatt SemanekSenior Manager, Public Relationspress@sunrun.com
Source: Sunrun Inc.