RTTNews | Oct 7, 2020 10:01AM EDT

10:00 Wednesday, October 7, 2020 (RTTNews.com) - Shares of solar power systems provider Sunworks, Inc. (SUNW) are climbing more than 50% Wednesday morning at $4.22.

Today, the company announced that it has signed $10 million new projects in the third quarter.

Sunworks has won $10 million new commercial and agriculture projects in the third quarter marking its strongest quarterly booking activity since the beginning of the COVID-19 pandemic in early this year, the company said.

"The increased sales activity positions us well for 2021 and demonstrates the continued demand for our solar solutions, particularly among agriculture and commercial customers," Chuck Cargile, Chairman of the Board of Sunworks said.

The company had entered into an agreement with The Peck Company Holdings, Inc. (PECK) in August this year to be bought by Peck.

"We believe the transaction with Peck will allow us to leverage combined synergies to create a larger solar solutions provider with greater geographical reach and enhanced financial resources which will benefit our partners, customers, and shareholders," Cargile commented

Sunworks stock has been trading in the range of $0.29- $8.50 in the past one year.

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