#ESG #Stock News:
Solar Integrated Roofing (OTC: $SIRC) Targets First #EV Charging Station
Acquisition @SIRCStock
EL CAJON, CA - February 12, 2021 - Breaking Solar/ EV stock news from Investorideas.com
Newswire and RenewableEnergyStocks.com
- Solar Integrated
Roofing Corp. (OTC: SIRC), an integrated,
single-source solar power and roofing systems installation company, announced
today that it has signed a binding Letter of Intent (LOI) with Pacific
Lighting Management, Inc. (“Pacific Lighting”), a GAAP audited, diversified
energy services and electric vehicle charging station solutions provider to
large commercial and government customers.
Read this news, featuring SIRC in full at https://www.investorideas.com/news/2021/renewable-energy/02121SIRC-EV-Charging-Station-Acquisition.asp
Since
2003, Pacific Lighting has specialized in the design and implementation of
solar photovoltaic systems, energy efficiency measures and electric vehicle
(EV) charging stations for both commercial and government facilities throughout
the southwest. Past Pacific Lighting customers include federal, state and local
governments, school districts, hospitals and large commercial clients.
Pacific
Lighting has several long-term (IDIQ-type) contracts with the Federal
General Services Administration (GSA & GSA Fleet). Pacific Lighting is
also qualified by the U.S. Department of
Energy
as an ESCo (Energy Services Company).
“Our
growth over the past 18 years has been phenomenal. Between our resources and
existing client base, along with Solar Integrated Roofings resources and solar
experience, we feel the combination is going to take both companies to new
heights. The entire team at Pacific Lighting is excited to be working so
closely with Mr. Massey,” said Ted Hatamian, Chief Executive Officer of Pacific
Lightning.
"Pacific
Lighting is a highly respected brand and will be a transformative partnership
for our company, expanding our opportunities in the significant government
contract market,” said David Massey, Chief Executive Officer of Solar
Integrated Roofing Corporation. “Their Energy Services Company ESCo
qualification is difficult to obtain and is held by just a few dozen large
construction companies and a fraction of small businesses, authorizing them to
enter into the often large-scale "performance contracts" with federal
and local governments.
Their
strong relationships with government agencies, forged over 18 years of
business, represent a unique, valuable opportunity for our growing portfolio of
operating companies.
“This
cash-flow positive acquisition complements our existing product line with
Pacific Lighting’s diverse revenue streams in the energy services market, in
particular addressing our recently announcing EV charging station initiative.
Additionally, with our full complement of products and services, we can offer
their nationwide customers opportunities across solar, battery backup
installation, roofing and related HVAC/electrical contracting work. We look
forward to adding Pacific Lighting’s services, customers and highly skilled
team to our company," concluded Massey.
Closing
of any potential acquisition is subject to final due diligence, negotiation and
execution of a definitive purchase agreement and all necessary approvals.
Target closing is by our fiscal year end, Feb, 2021.
About
Pacific Lighting Management
Founded
in 2003, Pacific Lighting & Energy Mgmt. Co. has over a decade of
experience in the sales, design and installation of energy generation and
energy & water efficiency measures, serving mainly government and large
commercial clients. Pacific Lighting is a qualified US-DoE ESCO. We have been
performance rated by Dunn & Bradstreet's OpenRatings. We hold GSA Contracts
under Sch. 56 (GS-07F-0167X) offering over 2000 energy efficiency products, and
Sch. 84 (GS-07F-0467Y) for FEMP-Enable projects. We hold a BPA (GS-30F-GA083)
for the sales of EV Charging equipment to the Federal government, in addition
to two similar BPAs (1-14-61-13B & 1-14-61-14D) with the California State.
We are a S. Cal. Edison Charge-Ready approved vendor. For more information
visit www.pacltg.com.
About
Solar Integrated Roofing Corp.
Solar
Integrated Roofing Corporation (OTC:SIRC), is an integrated, single-source
solar power and roofing systems installation company specializing in commercial
and residential properties in the Southern California market. The Company's
broad array of solutions include sales and installation of solar energy
systems, battery backup and electric vehicle (EV) charging stations to roofing,
HVAC and related electrical contracting work. For more information, please
visit the Company's website at www.solarintegratedroofing.com.
Forward-Looking
Statements
Any
statements made in this press release which are not historical facts contain
certain forward-looking statements; as such term is defined in the Private
Security Litigation Reform Act of 1995, concerning potential developments
affecting the business, prospects, financial condition and other aspects of the
company to which this release pertains. The actual results of the specific
items described in this release, and the company's operations generally, may
differ materially from what is projected in such forward-looking statements.
Although such statements are based upon the best judgments of management of the
company as of the date of this release, significant deviations in magnitude,
timing and other factors may result from business risks and uncertainties
including, without limitation, the company's dependence on third parties,
general market and economic conditions, technical factors, the availability of outside
capital, receipt of revenues and other factors, many of which are beyond the
control of the company. The company disclaims any obligation to update the
information contained in any forward-looking statement. This press release
shall not be deemed a general solicitation.
Investor
Relations Contact:
Lucas
A. Zimmerman
Senior Vice President
MZ North America
Main: 949-259-4987
SIRC@mzgroup.us
www.mzgroup.us
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