An Austin, Tex., financing company sued a local solar panel installer and its owner for failing to make payments on $231,000 in materials for projects in Cedar Rapids and Alden.
Billd Exchange alleged Trusted Energy of Storm Lake and its owner, Rob Hach, failed to pay a combined balance of $231,000 spread across five invoices that were generated last fall. Billd allegedly provided materials — mostly components necessary to install solar panels — to the Grow Iowa Parker Krause project in Alden and the Randy’s Flooring solar project in Cedar Rapids, according to a lawsuit filed earlier this month in Buena Vista County District Court.
Billd’s lawsuit names Trusted Energy as a defendant for breaching a master agreement in which Trusted Energy promised it would pay all outstanding debts to Billd. It also names Hach as a defendant for breaching a personal guarantee in which he promised “full payment and performance by (Trusted Energy) under the (master agreement) and purchase statements.”
“(Billd) furnished the materials for the projects, but (Trusted Energy) and Hach have failed and refused to fully pay (Billd) for the materials furnished by (Billd) for the projects,” Billd’s lawsuit reads. “(Billd) has made demands upon (Trusted Energy) and Hach for full payment, but (Trusted Energy) and Hach have failed and refused to make full payment.”
The actual amount that Hach and Trusted Energy owe Billd wasn’t made clear in Billd’s lawsuit. An attachment to Billd’s lawsuit noted there were five invoices that were issued in connection with Trusted Energy’s projects. But the attachment doesn’t specify whether Hach and Trusted Energy made payments on the invoices.
Hach declined comment on his relationship with Billd. Steve Marso, a Des Moines attorney representing Billd, did not respond to a request for comment.
The lawsuit is the second in seven months against Hach and Trusted Energy over an alleged debt. Last December, a group of investors sued Trusted Energy for failing to pay $150,000 the investors claimed was a debt owed by Hach and Trusted Energy. The investors claimed Hach consented to the balance being converted into a promissory note. Hach’s attorneys didn’t dispute the amount that was owed to the investors, rather it was “immediately at-risk capital.”
Hach countersued the investors for exposing Trusted Energy to legal liability and claimed the investors signed releases that guaranteed they wouldn’t expose the company to legal jeopardy.
The investors’ lawsuit was dismissed less than a month after it was filed.