Tuesday, August 20, 2024

Electric Aviation Market Estimated to Reach $37 Billion By 2030 as Demand for Environment-Friendly Aircraft Rises; (NYSE: $KULR) (NASDAQ: $META) (NASDAQ: $NVDA) (NASDAQ: $NNE) (NYSE: $OKLO) @FNMgroup @KULRTech

Electric Aviation Market Estimated to Reach $37 Billion By 2030 as Demand for Environment-Friendly Aircraft Rises; (NYSE: $KULR) (NASDAQ: $META) (NASDAQ: $NVDA) (NASDAQ: $NNE) (NYSE: $OKLO) @FNMgroup @KULRTech

 


Palm Beach, FL – August 20, 2024 – FN Media Group News Commentary – According to the International Energy Agency (IEA), global flights produced around 720 million tons of carbon dioxide in 2021. The global aviation industry produces over 2% of all the CO2 emissions induced by humans.  With an increase in the number of global aircraft fleet size and air travel, these numbers are expected to rise even higher. Hence, there has been a pressing need for electric aircraft, which will help reduce the carbon footprint of the aviation industry. Organizations and governing bodies such as the International Civil Aviation Organization, the Federal Aviation Administration, and the European Union Aviation Safety Agency have called for sustainable alternatives to aircraft fuel as they estimate that aircraft-generated emissions are expected to be three-fold in volume by 2050. Since electric engines do not have noises associated with jet or combustion engines, they result in no aircraft noise levels. In an electric aircraft, manufacturers aim to improve efficiency by replacing hydraulically controlled systems with electric systems.  A report from MarketsAndMarkets projected that the Electric Aircraft Market which was valued at $8,800 Million in 2022 and is estimated to grow from $10,100 Million USD in 2023 to $37,200 Million USD by 2030 at a CAGR (Compound Annual Growth Rate) of 19.8%. Rising demand for environment-friendly aircraft and the growing development of UAVs and electric VTOLs are the key factors driving the electric aircraft market.  Active companies in news today include:  KULR Technology Group, Inc. (NYSE: KULR), Meta Platforms, Inc. (NASDAQ: META), NVIDIA Corporation (NASDAQ: NVDA), NNE NANO Nuclear Energy Inc. (NASDAQ: NNE), Oslo Inc. (NYSE: OKLO).

 

The MarketsAndMarkets report said: “An electric aircraft uses batteries for power and propulsion, which is traditionally achieved by fossil fuels. There has been a growing need for sustainable alternatives to fossil fuel to reduce the carbon emissions resulting from aircraft, as the global aircraft fleet size and air travel is expected to increase in the future. Electric aircraft are more energy-efficient and are considered a cleaner and quieter mode of air travel. Recent technological advancements in power electronics, battery technologies, and electrical motors played a major role in driving the market for electric aircraft. The adoption of electric aircraft is expected to drive value and unlock significant improvements in terms of aircraft weight, energy efficiency, total life cycle cost, maintenance, and aircraft reliability.  By system, the aerostructures segment is estimated to dominate the electric aircraft market during the forecast period. Aerostructures account for the largest share of the total development cost of an aircraft. Newly developed electric aircraft, especially eVTOL aircraft, require some of the most advanced materials to make them lightweight while maintaining their structural strength. These factors contribute to the large share of the system segment in the electric aircraft market.”

 

KULR Technology Group, Inc. (NYSE American: KULR) Partners with Amprius Technologies to Develop Reference Design to Enhance Battery Safety and Performance in Advanced Air Mobility – KULR Technology Group, (the “Company” or “KULR”), a global leader in safe and high-performance energy storage solutions, today announced it has been selected for a pivotal battery pack reference design project by Amprius Technologies (NYSE: AMPX), a leader in next-generation lithium-ion batteries with its Silicon Anode Platform. The final reference design will provide Amprius’ customers with a solution to address thermal runaway at the battery pack level that leverages KULR’s advanced energy management platform, KULR ONE Design Solutions, with Amprius’ high-energy Silicon Anode pouch cells to meet the rigorous thermal qualification standards set by the Federal Aviation Administration (FAA) and European Union Aviation Safety Agency (EASA), ensuring the highest levels of safety and performance. This partnership is set to push the boundaries of next-generation battery technology, with a focus on the burgeoning advanced air mobility (AAM) market.

 

Read this in full at https://www.financialnewsmedia.com/electric-aviation-market-estimated-to-reach-37-billion-by-2030-as-demand-for-environment-friendly-aircraft-rises/

 

The integration of all lithium-ion battery technology into Advanced Air Mobility (AAM) presents significant challenges, particularly due to the risks of cell thermal runaway. To address these concerns, the FAA and EASA have established stringent design regulations to mitigate the risks associated with using lithium-ion battery packs in electric manned applications. The partnership between Amprius and KULR is designed to meet these strict safety standards and accelerate the adoption of Amprius’ high-performance cells in the AAM sector, where their technology is uniquely positioned to excel.

 

Driving Innovation in Battery Technology – The joint effort will explore innovative methods to enhance battery safety and maximize energy density at the pack level. By integrating KULR’s advanced thermal management solutions with Amprius’ high-energy and high-power lithium-ion batteries and cutting-edge silicon anode technology, the partnership aims to deliver a battery system that is not only safe but also exceptionally high-performance.

 

“KULR’s proven expertise in thermal management and energy storage solutions makes them an ideal partner for this project,” said Jon Bornstein, President of Amprius Technologies Lab. “By combining Amprius’ advanced silicon anode battery technology with KULR’s innovative approach to safety and performance, we are setting a new standard in the advanced air mobility segment. This partnership accelerates our ability to meet the stringent requirements of the electric aviation industry while simultaneously pushing forward the evolution of battery technology with a focus on safety, efficiency, and market expansion.” CONTINUED…  Read this entire press release and more news for KULR at:  https://www.financialnewsmedia.com/news-kulr/  

 

In addition to its battery technologies, KULR has a long history of serving the aviation industry with its KULR VIBE technology which eliminates vibration for helicopters and drones. Last week during they earnings call, KULR’s CEO was very excited how KULR VIBE serves the computer server market for Facebook (NASDAQ: META) and Nvidia (NASDAQ: NVDA) with better cooling technology by removing vibration in the server’s fans. KULR VIBE can reduce energy use and cool the hot AI processing chips more efficiently, which has dramatically increased energy demand for companies like NNE NANO Nuclear Energy Inc. (NASDAQ: NNE) and Oslo Inc. (NYSE: OKLO), which is backed by Sam Altman of OpenAI.

 

In other developments in the markets of note:

 

 

 

NVIDIA Corporation (NASDAQ: NVDA) recently announced major advancements to Universal Scene Description, or OpenUSD, that will expand adoption of the universal 3D data interchange framework to robotics, industrial design and engineering, and accelerate developers’ abilities to build highly accurate virtual worlds for the next evolution of AI.

 

Through new OpenUSD-based generative AI and NVIDIA-accelerated development frameworks built on the NVIDIA Omniverse™ platform, more industries can now develop applications for visualizing industrial design and engineering projects, and for simulating environments to build the next wave of physical AI and robots.

 

Meta Platforms, Inc. (NASDAQ: META) recently reported financial results for the quarter ended June 30, 2024.  “We had a strong quarter, and Meta AI is on track to be the most used AI assistant in the world by the end of the year,” said Mark Zuckerberg, Meta founder and CEO. “We’ve released the first frontier-level open source AI model, we continue to see good traction with our Ray-Ban Meta AI glasses, and we’re driving good growth across our apps.”

 

NANO Nuclear Energy Inc. (NASDAQ: NNE), a vertically integrated advanced nuclear energy and technology company developing portable clean energy solutions, recently announced that it has signed a Memorandum of Understanding (MOU) with the Rwanda Atomic Energy Board (RAEB).

 

The MOU establishes a framework under which NANO Nuclear work alongside the RAEB to facilitate the introduction and eventual integration of small modular reactors (SMRs) and microreactors, like ‘ZEUS’ and ‘ODIN’, NANO Nuclear’s next generation microreactors in development, throughout the Republic of Rwanda. NANO Nuclear will also be responsible for enabling the development of the country’s entire ecosystem of nuclear energy systems. This includes providing technical assistance, training and educational programs to develop Rwanda’s technical expertise in the nuclear energy industry.

 

Oklo Inc. (NYSE: OKLO), a fast fission clean power technology and nuclear fuel recycling company, recently announced a key strategic development in its supply chain management by signing a Preferred Supplier Agreement with Siemens Energy for the power conversion system of the Aurora powerhouse. This agreement underscores Oklo’s ambitions to bring cost-efficient advanced fission technology to market. Building on a previously signed Memorandum of Understanding, this binding agreement marks a crucial step in Oklo’s vision to enhance production scalability, cost efficiency, and rapid deployment to meet growing customer demand.

 

Siemens Energy is a supplier of steam turbine and generator technology – rotating equipment that is part of the conventional island in small and large nuclear generation plants. Siemens Energy will supply the power conversion and supporting systems, fostering efficiencies through economies of scale. Standardizing equipment across Oklo’s powerhouses is expected to result in cost savings in manufacturing, construction, operations, and maintenance. Utilizing shared spare parts across deployment is expected to reduce maintenance downtime, enhance reliability, and improve overall performance.

 

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SOURCE: FN Media Group

Breaking Renewable Energy Stock News: KULR (NYSE: $KULR) Partners with Amprius Technologies to Develop Reference Design to Enhance Battery Safety and Performance in Advanced Air Mobility; @KULRTech

Breaking Renewable Energy Stock News: KULR (NYSE: $KULR) Partners with Amprius Technologies to Develop Reference Design to Enhance Battery Safety and Performance in Advanced Air Mobility; @KULRTech

 


SAN DIEGO, CA - August 20, 2024 (Investorideas.com Newswire) KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a global leader in safe and high-performance energy storage solutions, today announced it has been selected for a pivotal battery pack reference design project by Amprius Technologies (NYSE: AMPX), a leader in next-generation lithium-ion batteries with its Silicon Anode Platform. The final reference design will provide Amprius' customers with a solution to address thermal runaway at the battery pack level that leverages KULR's advanced energy management platform, KULR ONE Design Solutions, with Amprius' high-energy Silicon Anode pouch cells to meet the rigorous thermal qualification standards set by the Federal Aviation Administration (FAA) and European Union Aviation Safety Agency (EASA), ensuring the highest levels of safety and performance. This partnership is set to push the boundaries of next-generation battery technology, with a focus on the burgeoning advanced air mobility (AAM) market.

 

The integration of all lithium-ion battery technology into Advanced Air Mobility (AAM) presents significant challenges, particularly due to the risks of cell thermal runaway. To address these concerns, the FAA and EASA have established stringent design regulations to mitigate the risks associated with using lithium-ion battery packs in electric manned applications. The partnership between Amprius and KULR is designed to meet these strict safety standards and accelerate the adoption of Amprius' high-performance cells in the AAM sector, where their technology is uniquely positioned to excel.

 

This news is paid advertisement/ news disseminated on behalf of/issued on behalf of KULR Technology Group, Inc.

 

Read this news, featuring KULR in full at

https://www.investorideas.com/news/2024/08201KULR-Amprius-Technologies.asp

 

Driving Innovation in Battery Technology
The joint effort will explore innovative methods to enhance battery safety and maximize energy density at the pack level. By integrating KULR's advanced thermal management solutions with Amprius' high-energy and high-power lithium-ion batteries and cutting-edge silicon anode technology, the partnership aims to deliver a battery system that is not only safe but also exceptionally high-performance.

 

"KULR's proven expertise in thermal management and energy storage solutions makes them an ideal partner for this project," said Jon Bornstein, President of Amprius Technologies Lab. "By combining Amprius' advanced silicon anode battery technology with KULR's innovative approach to safety and performance, we are setting a new standard in the advanced air mobility segment. This partnership accelerates our ability to meet the stringent requirements of the electric aviation industry while simultaneously pushing forward the evolution of battery technology with a focus on safety, efficiency, and market expansion."

 

A Comprehensive Approach to Design and Testing
The project will be executed in four phases, beginning with extensive data collection and design concept delivery. Subsequent phases will include detailed thermal modeling, propagation prevention response (PPR) design, and rigorous testing to ensure compliance with the highest safety standards. This systematic approach will enable the development of a robust and scalable battery solution tailored to the needs of various applications within the e-aviation sector and beyond.

 

A Commitment to Market Expansion
This collaboration underscores KULR and Amprius' commitment to expanding into growing markets by providing innovative solutions that address the critical needs of safety and performance in energy-dense battery systems. The partnership is poised to play a pivotal role in the evolution of battery technology, particularly in the electric aviation market, where the demand for lightweight, high-performance energy storage solutions is rapidly increasing.

 

Precision Business Insights estimates the global electric aircraft market to reach USD $13.55 billion by 2030, growing at a CAGR of 7.62% during the forecast period of 2024 to 2030.

 

About KULR Technology Group, Inc.
KULR Technology Group Inc. (NYSE American: KULR) is a leading energy management platform company offering proven solutions that play a critical role in accelerating the electrification of the circular economy. Leveraging a foundation in developing, manufacturing, and licensing next-generation carbon fiber thermal management technologies for batteries and electronic systems, KULR has evolved its holistic suite of products and services to enable its customers across disciplines to operate with efficiency and sustainability in mind. For more information, please visit 
www.kulrtechnology.com.

 

About Amprius Technologies, Inc.
Amprius Technologies, Inc. is a leading manufacturer of high-energy and high-power lithium-ion batteries, producing the industry's highest-known energy density cells. The company's commercially available SiMaxx™ batteries deliver up to 450 Wh/kg and 1,150 Wh/L, with third-party validation of 500Wh/kg and 1,300 Wh/L. Amprius expanded its product portfolio to include the SiCore™ platform in 2024, significantly enhancing its ability to serve additional customer applications. The company's corporate headquarters is in Fremont, California, where it maintains an R&D lab and a MWh scale manufacturing facility for the fabrication of silicon anodes and cells. To serve customer demand, Amprius entered into several agreements to secure over 500MWh of contract manufacturing available today and entered into a lease agreement for a GWh scale facility in Brighton, Colorado. For additional information, please visit 
amprius.com. Also, see the company's LinkedIn and Twitter pages.

 

Safe Harbor Statement
This press release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed with the Securities and Exchange Commission on April 12, 2024, as may be amended or supplemented by other reports we file with the Securities and Exchange Commission from time to time. Forward-looking statements include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether because of new information, future events or otherwise.

 

Investor Relations:
KULR Technology Group, Inc.
Phone: 858-866-8478 x 847
Email: 
ir@kulrtechnology.com

 

KULR Technology Group, Inc. (NYSE: KULR) is a featured renewable energy stock on Investorideas.com

 

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Disclaimer/Disclosure: Disclosure: (NYSE: KULR) is a paid featured company on Investorideas.com effective July 2024 for 3 months. lInvestorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. Contact management and IR of each company directly regarding specific questions. More disclosure info can be found here. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

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Friday, August 16, 2024

New Mining, Tech, Automotive and Cleantech Stocks; (TSXV: $MOG.V) (TSXV: $WMS.V) (CSE: $DD.CN) (NASDAQ: $SERV) (Nasdaq: $CREV) (ASX: $CPV.AX) (ASX: $DEL.AX)

New Mining, Tech, Automotive and Cleantech Stocks; (TSXV: $MOG.V) (TSXV: $WMS.V) (CSE: $DD.CN) (NASDAQ: $SERV) (Nasdaq: $CREV) (ASX: $CPV.AX) (ASX: $DEL.AX)

 

 



 

 

August 16, 2024 – (Investorideas.com Newswire) Investorideas.com, a global news source and expert investing resource, announces today’s roundup of stocks to watch in the Mining, Tech, Automotive and Cleantech sectors.  

 

The newest mining companies are all Canadian-listed with operations in Canada and Latin America.

 

The latest tech companies use AI in robotics and fintech, respectively, while the newest automotive company manufactures carbon fiber wheels for vehicles.

 

The newest cleantech companies provide solar technologies and bioenergy infrastructure in Australia.

 

Read this in full at https://www.investorideas.com/news/2024/main/08161Stocks.asp

 

Investor Ideas is always on the hunt for new stocks to add to our growing list of free stock directories. The directories are not meant as recommendations but as a research tool to discover opportunities and trading ideas in a particular sector. 

 

New Stocks Added to the Mining Directories:

Mogotes Metals Inc. (TSXV:MOG) is an exploration company looking for copper and gold in the Vicuña district of Argentina and Chile. The flagship project, Filo Sur, is on strike with the Filo del Sol discovery, and in the same district as the NGEx Minerals Lunahuasi and Los Helados deposits.

 

Western Metallica Resources Corp. (TSXV: WMS) is in the business of mineral resource exploration and development and holds the options to acquire a 100% interest in two copper projects in Peru: Caña Brava, in La Libertad Province, and Turmalina, in Piura Province. Western Metallica is also advancing its 100% owned Nueva Celti Copper Property in the Ossa Morena belt in Andalusia, Spain, and three other Spanish gold projects in the “Navelgas Gold Belt” in Asturias, Spain (Penedela, Valledor and Sierra Alta).

 

Double Deuce Exploration Corp. (CSE:DD) is engaged in the business of acquisition and exploration of mineral properties in Canada. The Issuer holds an option to acquire an undivided 100% interest in and to mineral claims totaling 2,231.03 hectares comprising the Kimber Property located near Kimberley, British Columbia, subject to a royalty obligation. The Issuer’s secondary  objective is to locate and develop economic precious and base metals properties of merit.

 

New Stocks Added to the Tech Directories:

Serve Robotics Inc. (NASDAQ: SERV) develops advanced, AI-powered, low-emissions sidewalk delivery robots that endeavor to make delivery sustainable and economical. Spun off from Uber in 2021 as an independent company, Serve has completed tens of thousands of deliveries for enterprise partners such as Uber Eats and 7-Eleven. Serve has scalable multi-year contracts, including a signed agreement to deploy up to 2,000 delivery robots on the Uber Eats platform across multiple U.S. markets.

 

New Stocks Added to the Automotive/Transportation Directories:

Carbon Revolution plc (Nasdaq: CREV) is the parent of Carbon Revolution Pty Ltd, an early-stage growth company which has successfully innovated, commercialized and industrialized the advanced manufacture of carbon fiber wheels for the global automotive industry. The Company has progressed from single prototypes to designing and manufacturing lightweight wheels for cars and SUVs in the high performance, premium and luxury segments, for the world’s most prestigious automotive brands. Carbon Revolution is creating a significant and sustainable advanced technology business that supplies its lightweight wheel technology to automotive manufacturers around the world.

 

New Stocks Added to the Cleantech Directories:

ClearVue Technologies Ltd (ASX:CPV) is an Australian technology company that operates in the Building Integrated Photovoltaic (BPIV) sector which involves the integration of solar technology into building surfaces, specifically glass and building façades, to provide renewable energy. ClearVue has developed advanced glass technology that aims to preserve glass transparency to maintain building aesthetics whilst generating electricity.

ClearVue’s electricity-generating glazing technology is strategically positioned to complement and make more compelling, the increased use of energy-efficient windows now being regulated in response to global climate change and energy efficiency goals.

Solar PV cells are incorporated around the edges of an Insulated Glass Unit (IGU) used in windows and the lamination interlayer between the glass in the IGU incorporates ClearVue’s patented proprietary nano and micro particles, as well as its spectrally selective coating on the rear external surface of the IGU. ClearVue’s window technology has application for use in the building and construction and agricultural industries (among others). ClearVue has worked closely with leading experts from the Electron Science Research Institute, Edith Cowan University in Perth, Western Australia to develop the technology.

 

Delorean Corporation Ltd (ASX:DEL) is a leading Australian bioenergy company. Delorean specialises in the design, build, ownership, and management of bioenergy infrastructure. In addition to bioenergy power and renewable gas generation, Delorean also operates in the energy retail market. Delorean Corporation is a vertically integrated company positioned in two high growth industries; renewable energy and waste management. Delorean Corporation comprises an Engineering Division, Infrastructure Division, and legacy Energy Retail Division. Through these divisions Delorean Corporation has the inhouse capability to deliver bioenergy projects across the full lifecycle, from project conception to completion, processing organic waste, generating renewable energy, and monetising the sale of green electricity, heat, and gas. DEL’s projects produce renewable energy whilst reducing the volume of organic waste going to landfill, utilising a model that generates multiple revenue streams.

 

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Monday, August 05, 2024

Breaking Renewable Energy Stock News: KULR Technology Group (NYSE: $KULR) Sets Second Quarter 2024 Earnings Call for Monday, August 12, 2024 at 4:30 p.m. ET; @KULRTech

Breaking Renewable Energy Stock News: KULR Technology Group (NYSE: $KULR) Sets Second Quarter 2024 Earnings Call for Monday, August 12, 2024 at 4:30 p.m. ET; @KULRTech

 


SAN DIEGO, CA, August 05, 2024 (Investorideas.com Newswire) KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a global leader in sustainable energy management, will hold a conference call on Monday, August 12th, at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss its financial results for the second quarter ended June 30, 2024. The financial results will be issued in a press release prior to the call.

 

KULR management will host the conference call, followed by a question-and-answer period. Interested parties can submit relevant questions prior to the call to Stuart Smith at SmallCapVoice.Com, Inc. via email: ssmith@smallcapvoice.com by 5:00 p.m. ET on Thursday, August 8th, 2024. Mr. Smith will compile a list of questions and submit them to the Company prior to the conference call. The questions that will get addressed will be based on the relevance to the shareholder base, and the appropriateness of the questions in light of public disclosure rules.

 

This news is paid advertisement/ news disseminated on behalf of/issued on behalf of KULR Technology Group, Inc.

 

Read this news, featuring KULR in full at https://www.investorideas.com/news/2024/08051KULR-Q2-Earnings-Call.asp

 

KULR Technology Group Second Quarter 2024 Earnings Call

Date: Monday, August 12, 2024

Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)

 

To access the call, please register using the following link: KULR Second Quarter 2024 Earnings Call. After registering, an email will be sent, including dial-in details and a unique conference call access code and PIN required to join the live call. The conference call will be available for replay here via the Investor Relations section on KULR’s website (www.kulrtechnology.com).

 

About KULR Technology Group, Inc.

KULR Technology Group Inc. (NYSE American: KULR) is a leading energy management platform company offering proven solutions that play a critical role in accelerating the electrification of the circular economy. Leveraging a foundation in developing, manufacturing, and licensing next-generation carbon fiber thermal management technologies for batteries and electronic systems, KULR has evolved its holistic suite of products and services to enable its customers across disciplines to operate with efficiency and sustainability in mind. For more information, please visit www.kulrtechnology.com.

 

Safe Harbor Statement

This press release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed with the Securities and Exchange Commission on April 12, 2024, as may be amended or supplemented by other reports we file with the Securities and Exchange Commission from time to time. Forward-looking statements include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” and “would” or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management’s best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

 

Investor Relations:

KULR Technology Group, Inc.

Phone: 858-866-8478 x 847

Email: ir@kulrtechnology.com

 

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Wednesday, July 24, 2024

Breaking Solar News - SinglePoint (CBOE: $SING) CEO Issues Update to Shareholders Highlighting Key Operational Milestones; @_Singlepoint_

Breaking Solar News - SinglePoint (CBOE: $SING) CEO Issues Update to Shareholders Highlighting Key Operational Milestones; @_Singlepoint_

 

Revenue up 20% YoY as subsidiary Boston Solar continues to grow

 


Phoenix, Arizona July 24, 2024 -  (Investorideas.com Newswire) SinglePoint Inc. (CBOE:SING)a leading provider in the renewable energy sector, issues an update to shareholders from CEO Wil Ralston highlighting key operational milestones:

 

Dear Follow Shareholders,

The Company continues to refine and strengthen operations as reflected in our recently filed annual financial statement (10K) for the year ended December 31, 2023. In particular, management is encouraged by the overall increase in topline revenue of 20% YOY and the ongoing sustainable growth of its subsidiary Boston Solar. We believe this trend will continue into 2025.

 

This news is paid advertisement/ news disseminated on behalf of/issued on behalf of SinglePoint Inc.

 

Read this news, featuring SING in full at https://www.investorideas.com/news/2024/07241SING-Key-Operational-Milestones.asp

 

Boston Solar's new leadership team is demonstrating its commitment to profitability, reducing $3.1M in annual overhead while continuing YoY revenue growth. The reduction in expenses resulted in an increase in revenue per employee of approximately 50%. Further implementations of software and development partnerships will allow the company to increase volume into 2025 with limited fixed overhead costs. Additionally, diversifying the business from over 90% residential at time of acquisition to 70/30 residential to commercial in 2022, to a 50/50 split between both business lines in 2024 comfortably positions the company for growth with an active solar market driven by strong state mandates for carbon reduction on commercial buildings by 2030.

 

As Massachusetts residential and small commercial solar markets consistently rank in the top 10 for solar and solar adjacent products, we believe Boston Solar is uniquely positioned with approximately $20M in signed commercial contracts to build upon as it seeks to be the leading provider of small commercial solar in the state. Recently Massachusetss was ranked the number one most solar friendly state in the US by this This Old House and the 11th in total solar power installations as reported SEIA.

 

Throughout the second half of 2023 the solar market experienced turbulence primarily driven by high interest rates, which significantly impacted both the residential and commercial real estate sectors. High interest rates increase the cost of financing solar projects, making it more expensive for consumers and businesses to take out loans for solar installations. This was particularly felt in the residential market, where homeowners often rely on loans to cover the upfront costs of solar panel systems. As a result, we have implemented dramatic changes to our marketing and sales efforts, which has resulted in additional leads and sales opportunities that we expect to show measurable results over the second half of 2024. Due to the foresight and strategic initiatives to drive commercial growth at Boston Solar, we were fortunate to not be nearly as impacted as some our peers and have actually seen measurable improvements during this time within Boston Solar commercial and residential business units. We expect these improvements will result in additional compound growth as market conditions continue to improve.

 

Despite the challenging market conditions our team's dedication and persistence has led to significant advancements in our operational efficiency. It is this resilience that continues to create new opportunities for our business units. We are committed to navigating all market conditions effectively ensuring sustainable growth and creating long-term shareholder value.

 

Yours truly,

Wil Ralston

 

About SinglePoint Inc.
SinglePoint Inc. is a renewable energy and sustainable lifestyle company focused on providing environmentally friendly energy efficiencies and healthy living solutions. SinglePoint is initially focused on building the largest network of renewable energy solutions and modernizing the traditional solar and energy storage model. The Company is also actively exploring future growth opportunities in air purification, electric vehicle charging, solar as a subscription service, and additional energy efficiencies that enhance sustainability and a healthier life. For more information, visit the Company's website (www.singlepoint.com).

 

About Boston Solar
Boston Solar is a subsidiary of SinglePoint Inc. (CBOE: SING) Since its founding in 2011, Boston Solar has installed more than 6,000 residential and commercial solar arrays, powering thousands of homes and businesses in New England, primarily in Massachusetts. The mission of Boston Solar is to provide superior clean energy products, exceptional customer service, and the highest-quality artistry in residential and commercial installations.

 

Boston Solar has accumulated several distinctions of recognition of the company's outstanding:

 

·        Honored with the 2020 Guildmaster Award from GuildQuality, the award acknowledged how Boston Solar demonstrated exceptional customer service within the residential construction industry.

·        Named a Top Solar Contractor by Solar Power World magazine for five consecutive years.

·        Applauded by the Boston Business Journal's "Largest Clean Energy Companies in Massachusetts" list.

 

Boston Solar is a Solar Energy Business Association of New England (SEBANE) member. Learn more at: www.bostonsolar.us




SinglePoint Inc.

To view an enhanced version of this graphic, please visit:
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Forward-Looking Statements

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential plans and objectives of the Company, anticipated changes to our financial reporting process and resources, are forward-looking statements that involve risks and uncertainties.

 

There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

 

Investor Relations Contact:
SinglePoint Inc
investor@singlepoint.com
888-682-7464

 

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