#Cleantech/ #EV #Stock News: Solar Integrated Roofing (OTC: $SIRC) - #Solar
Energy and EV Charging #Infrastructure Developer to Join the SIRC Companies,
Adding $50 Million annual Sales by 2022; @SIRCStock
EL CAJON, CA / July 14, 2021 / Solar 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 that it has signed a
purchase agreement to acquire USA Solar Network LLC (“USA Solar
Network”), a solar energy and EV charging infrastructure developer.
Read this news,
featuring SIRC and see images at https://www.investorideas.com/news/2021/renewable-energy/07141SIRC-Solar-EV-Charging.asp
Founded
and led by CEO Pablo Diaz, recipient of the 2020 Top 20 Dynamic CEO Award, USA Solar Network
helps customers to install the best available solar energy or EV charging
system by comparing hundreds of local installers and financing options. Pablo’s
leadership has generated over $40 million in revenue since 2018, and quickly
scaled into over 37 states including key markets such as Florida, Texas,
Illinois, Arizona, Missouri and New Mexico.
Solar
Integrated Roofing believes the synergy with USA Solar Network will allow it to
scale rapidly and achieve 50-100% growth in incremental residential and
commercial sales with 16%+ gross margins in 2022. The acquisition is expected
to act as a notable growth driver for solar and EV charger installers within
the SIRC family of companies who can complete the on-site contracting work once
the sale is complete through USA Solar Network, capturing the full lifecycle
value of each customer.
"USA
Solar Network has a footprint in exciting new markets that will continue to
broaden our national reach– the missing piece to the puzzle, allowing us to
expand to new markets nationally with minimal cost using their existing network
spanning solar and EV installation," said David Massey, Chief Executive
Officer of Solar Integrated Roofing Corporation. "Pablo and his team have
built strong regional partnerships with key industry players in the solar and
EV charger space, with over 7,000 solar projects completed to-date. We believe
the timing of this acquisition is perfect as well given the strong demand
growth we are seeing for EV charging installations nationally.
“Given
the Company’s ability to service both residential and commercial markets, we
believe we can efficiently integrate USA Solar Network into the SIRC family of
companies and further improve its growth trajectory, while concurrently
addressing exciting EV charging network opportunities with various levels of
government, leveraging their contractor network to expand without additional
costs.
“We
believe that this may be our last acquisition in the foreseeable future before
focusing inwards on organic growth and reaching cash flow breakeven – a
monumental step for the company and its shareholders which we believe will
significantly reduce any dilution and grow the company to profitability,”
concluded Massey.
About USA Solar Network
USA
Solar Network is a solar energy
developer, helping customers to install the best available solar energy system
for any building residential or commercial. Its multiple divisions focus on the
following fields in the solar industry: residential solar, commercial solar,
finance in the commercial solar space, and solar licensed installations. The
Company’s vast network of sales companies, dealers and installation partners
amount to an over 100+ strong network, covering a marketplace of over 37
states. To learn more,
please visit http://usasolarnetworks.com/.
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 serves
communities by delivering the best experience through constant innovation &
legacy-focused leadership. 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
Director
MZ North America
Main: 949-259-4987
SIRC@mzgroup.us
www.mzgroup.us
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