#Cleantech #Stocks
in the News - Solar Integrated Roofing (OTC: $SIRC) Completes #EVCharging
Acquisition; @SIRCStock
EL CAJON, CA - March
19, 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, today
announced the closing of its previously announced acquisition of Pacific Lighting Management ("Pacific Lighting" or
“PLEMCo”).
Read this news, featuring SIRC in full at https://www.investorideas.com/news/2021/renewable-energy/03191Solar-Integrated-Roofing-EV-Charging-Acquisition.asp
PLEMCo is a GAAP audited, diversified energy
services and electric vehicle (EV) charging station solutions provider to large
commercial and government customers. For nearly two decades, PLEMCo 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 PLEMCo
customers include federal, state and local governments, school districts,
hospitals and large commercial clients. PLEMCo has several long-term
(IDIQ-type) contracts with the Federal
General Services Administration (GSA & GSA Fleet). The Company is
also qualified by the U.S.
Department of Energy as an ESCo (Energy Services Company).
Spurred by increasingly widespread adoption of
electric vehicles by consumers and fleets, the EV charging market is expected
to surpass the $39 billion mark by 2027. The market has seen notable
commitments from the Biden administration, which hopes to build 500,000 new EV
charging stations over the next decade, creating a significant addressable
market opportunity.
"PLEMCo is a
market leader with best-in-class solutions to support our recently announcing
EV charging station division,” said David Massey,
Chief Executive Officer of Solar Integrated Roofing Corporation. “Their highly
respected brand and access to the significant government contract market were
key factors in our due diligence. We will expand and accelerate their
achievements by transitioning their team and customers to supporting our full
complement of products and services.
“The acquisition is strongly in line with our
focus on creating shareholder value by rapidly growing our dedicated EV
charging solutions division. We see increasing opportunity for this division as
the nation continues its shift to a more sustainable transportation system, enabled
by widespread adoption of electric vehicles and our comfortable cash balance of
greater than $11 million as of our fiscal year ended Feb. 28, 2021. With the
close of this acquisition, we anticipate seeing significant growth in our
burgeoning EV charging solutions division.
“By integrating our technology, resources, and
building on the momentum PLEMCo has established, we
can reach our long-term goal of building a nationwide EV charging division in
key regional markets. We expect PLEMCo
will be a meaningful contributor to our EV charging revenue growth in 2021 and
beyond, as we build on our position as one of nation’s leading integrated,
single-source solar power and roofing systems installation companies,”
concluded Massey.
About Pacific Lighting Management
Founded in 2003, Pacific Lighting & Energy
Mgmt. Co., also known as PLEMCo, 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 http://www.plem.co/.
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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