#Cleantech #Stocks in the News- Solar Integrated Roofing (OTC: $SIRC)
Closes Acquisition, Adding $1 Million per Week in Expected Near-Term,
High-Margin Revenue; @SIRCStock
EL CAJON, CA - June 10, 2021 - Solar/Battery
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 acquisition of
Future Home Power, a solar, roofing
and battery storage sales company.
Read this news,
featuring SIRC in full at https://www.investorideas.com/news/2021/renewable-energy/06102SIRC-Acquisition-Solar-Battery.asp
Founded
in late 2020 by Jason Newby, San Diego-based Future Home Power specializes in
the sales of residential solar panels, roofing as well as battery storage –
partnering with local installers, chiefly SIRC portfolio companies going
forward, to finalize on-site installation. Future Home Power has earned a
strong reputation for providing customers a smooth, simple process for solar
panel and battery storage consultation and installation. The Company expects
the acquisition to be immediately accretive and to rapidly grow to $1 million
per week in incremental sales at a robust 45% gross margin profile, capturing
value across the full customer lifecycle.
“The
quick close of our acquisition of Future Home Power is timely for us, as they
are on track to reach 60 sales representatives by the end of May with further
growth planned after that point,” said David Massey, Chief Executive Officer of
Solar Integrated Roofing Corporation. “The additional workforce and lead
generation capabilities will allow us to rapidly scale the acquisition to an
estimated $1 million plus per week of sustainable, incremental sales as early
as next month – for example, Future Home Power drove $1.4 million in the last
week of May alone and is likely to reach $2.0 million in weekly revenue in the
near-term.
“The
acquisition is expected to act as a major growth driver for our other subsidiaries
for years to come, who can complete the on-site contracting work once the sale
is complete, capturing the full lifecycle value of each customer. I look
forward to working with Jason and his growing team - integrating them into our
business development arm to further ramp project flow for the entire SIRC
family of companies,” concluded Massey.
About Solar
Integrated Roofing Corp.
Solar Integrated
Roofing Corp. (OTC:SIRC), is an integrated, single-source solar power and
roofing systems installation platform company specializing in commercial and
residential properties throughout the United States. 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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