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Tuesday, June 22, 2021

#Batteries Snapshot = The New Gold: Demand for #EV’s Creates Battery Shortage (TSXV: $NBM.V) (OTC: $NBMFF) (NYSE: $GM) (NASDAQ: $TSLA) (NYSE: $F) (XETRA:VOW.DE) @neo_battery @telsa @Ford @GM @VW

#Batteries Snapshot = The New Gold: Demand for #EV’s Creates Battery Shortage (TSXV: $NBM.V) (OTC: $NBMFF) (NYSE: $GM) (NASDAQ: $TSLA) (NYSE: $F) (XETRA:VOW.DE) @neo_battery @telsa @Ford @GM @VW

 

 

Successful Results in Integrating NEO's Silicon into Graphite-Based Anodes for Improved Longevity, Stability and Capacity Retention

 


Point Roberts WA, Delta, BC – June 22, 2021 - Investorideas.com, a leading investor news resource covering cleantech and mining stocks releases a sector snapshot on the race for more efficient and cost effective battery sources as more car manufacturers enter the EV space and demand continues to grow. Vancouver-based NEO Battery Materials Ltd. (TSXV: NBM.V(OTC: NBMFF), a resource company focused on battery materials and metalsintends to become a lead player in the space as a silicon anode materials supplier to the electric vehicle industry.

 

Read this article featuring NEO in full at https://www.investorideas.com/news/2021/renewable-energy/06221EV-Battery-Shortage.asp

 

In a recent report from Reuters, it was announced that the Biden administration will begin to emphasize battery recycling as part of its electric-car plans, aiming to address supply issues. The recycling push is the result of a 100-day review of gaps in the supply chain of key areas, including metals used in batteries for EVs and consumer electronics, the report said. The administration is seeking not only to expand EV adoption, but to also create a more robust domestic supply chain for key materials.

 

Recycling is seen as a way to help achieve those goals with less reliance on expanded domestic mining, which faces regulatory hurdles and environmentalist opposition, the report said. The administration is also researching ways to reduce metal usage in batteries, according to the report.

 

Another solution is to find new, inexpensive materials that allows the batteries to run longer and last longer. Currently, the anode material is known to be the bottleneck of the battery due to graphite’s limited capacity to store energy or lithium-ions.

 

Silicon, hence, is recognized as the next material to forward the development of batteries as it has a capacity more than 10 times than of graphite. However, silicon expands during charging, which damages the anode and battery. Many approaches have been discussed to counter this issue and to commercialize silicon anodes.

 

As the EV sector continues to grow, there are many looking to solve the silicon issue such as Dr. Jong Hyeok Park, Chief Scientific Advisor and Director of NEO Battery Materials Ltd. (TSXV: NBM) (OTC: NBMFF) who recently announced that NEO’s silicon (Si) nanocoating technology is proving to be highly effective in conventional graphite/Si mixture anodes, overcoming a major barrier to the commercialization of Si anodes in graphite anode systems. In the past week, this test was conducted and validated by a well-established third-party laboratory in South Korea. More detailed experiment conditions are as below:

 

1.      Loading mass: 6.5mg/cm2

2.      Electrode density: 1.1g/ cm3

3.      Natural graphite/Si ratio: 9:1

4.      Charging condition: 0.5C with CC/CV mode (NOT CC mode)

5.      Voltage: 0.01V ~ 1.5V

 

NEO’s previous 100% Si nanoparticle-based durability test results had confirmed that NEO’s proprietary nanocoating technology stabilizes the Si material at long-term operating times required for electric vehicles (EV) and various energy storage applications. These new results further demonstrate the longevity and stability of NEO’s Si anode when it is mixed with a conventional graphite-based anode. Introducing 10% of NEO’s nanocoated silicon in a natural graphite anode allows a more uniform solid-electrolyte interface (SEI) layer formation with minimal volume expansion during cycling, and thus, more than two-times higher capacity retention is obtained.

 

Dr. Park added, “NEO’s Si anode innovation breaks through the barriers that have hindered the commercialization of Si anode materials in conventional graphite-based batteries. Initially, we questioned if the nanocoating layer on Si nanoparticles could be sustainable in conventional graphite powder, but this test provides us a highly positive signal for the commercialization of our patented nanocoating technology in silicon-graphite anodes. This indicates that we may increase the Si contents in graphite systems without serious performance degradation.”

 

Additionally, in the past two weeks, NEO has signed several non-disclosure agreements with some established players in the battery metals and materials industry. Discussions pertain to the advancement of NEO’s silicon production and proprietary nanocoating technology for silicon anodes. Due to reasons of confidentiality and the competitive nature of the industry, all parties will remain unidentified at this point in time.

Spencer Huh, President and CEO of NEO commented, “This is extremely welcome news as we are on an accelerated process to push our corporate initiatives. NEO’s robust portfolio of properties, patents, and personnel are currently producing considerable synergy, and we look forward and are enthusiastic to advance to the next stage of our plans.”

At this time, no further deal terms have been reached, nor has the Company entered into any letters of intent, partnerships, advisory agreements, or any other form of definitive agreement with these parties. As the Company’s discussions remain at preliminary stages, there can be no assurance or guarantee that the Company will enter into binding agreements.

General Motors Co. (NYSE: GM)  recently announced that it will increase its EV and AV investments from 2020 through 2025 to $35 billion, representing a 75 percent increase from its initial commitment announced prior to the pandemic.

 

The company’s enhanced commitment will accelerate its transformative strategy to become the market leader in EVs in North America; the global leader in battery and fuel cell technology through its Ultium battery platform and HYDROTEC fuel cells; and through Cruise, be the first to safely commercialize self-driving technology at scale.

 

“We are investing aggressively in a comprehensive and highly-integrated plan to make sure that GM leads in all aspects of the transformation to a more sustainable future,” said GM Chair and CEO Mary Barra. “GM is targeting annual global EV sales of more than 1 million by 2025, and we are increasing our investment to scale faster because we see momentum building in the United States for electrification, along with customer demand for our product portfolio.”

 

GM first shared its vision of a world with zero crashes, zero emissions and zero congestion nearly four years ago. Key factors changing the landscape include strong public reaction to the GMC HUMMER EV and HUMMER EV SUV, the Cadillac LYRIQ and the Chevrolet Silverado electric pickup; GM and dealer investments in the EV customer experience; public and private investment in EV charging infrastructure; and the global policy environment.

 

“There is a strong and growing conviction among our employees, customers, dealers, suppliers, unions and investors, as well as policymakers, that electric vehicles and self-driving technology are the keys to a cleaner, safer world for all,” Barra said.

 

This announcement builds on GM’s initial commitment announced in March 2020 to invest $20 billion from 2020 through 2025, including capital, engineering expenses and other development costs, to accelerate its transition to EVs and AVs. In November 2020, the company increased its planned investment over the same period to $27 billion.

 

These investments are enabled by GM’s strong underlying business, including record EBIT-adjusted in the last three quarters. GM now expects to deliver better-than-expected results in the second quarter despite the industry-wide impact of the semiconductor shortage.

 

EV favorite Tesla Inc. (NASDAQ:TSLArecently released their new Model S Plaid, which has received its first official EPA rating with a range of 348 miles on a single charge, but that’s for the bigger and less efficient wheels.

 

The EPA is slowly releasing the new ratings for the new versions of the updated Tesla Model S.

Earlier this week, they released the new rating for the updated 2021 Model S Long Range, which received a 120 MPGe (highway and city driving combined) and a range of 405 miles on a single charge.

 

The range was lower than Tesla had originally announced, but the efficiency did improve compared to the previous version of the Model S Long Range trim. Though the EPA has released its first rating for the new Model S Plaid, this was only for the version with 21-inch wheels and the EPA has yet to release the range for the Model S Plaid with 19-inch wheels, but Tesla has been guiding a range of 390 miles.

 

Tesla has been focusing on efficiency since it directly affects battery supply and enables them to make more electric vehicles with the same amount of batteries. Today, there are 25,000 Tesla Superchargers around the world, and with the Model S Plaid adopting a new powertrain, Tesla was able to re-design the battery to take advantage of the third-gen 250-kW Supercharger. Despite Tesla still using the 18650 form-factor cylindrical battery cells, these now have improved chemistry to deliver higher performance and durability. (This is the fourth major chemistry improvement since the first Model S.) With its newest 100-kWh battery pack, Tesla claims the Plaid can recover 187 miles of driving range in 15 minutes of charging at a V3 Supercharger.

 

Ford Motor Company (NYSE:Frecently joined General Motors with upbeat earnings guidance and sees strong reservations for critical new vehicles including its first electric truck. The No. 2 U.S. auto giant said that it expects adjusted pretax earnings for the second quarter to surpass its own expectations and be "significantly better" than a year ago.

 

That's despite the semiconductor shortage, which Ford said April 28 would halve its planned Q2 production and reduce full-year adjusted EBIT to $5.5 billion-$6.5 billion.Ford will report for Q2 and offer an outlook for the rest of the year on July 28.

 

Recently Ford touted 100,000 reservations for the F-150 Lightning, its first all-electric pickup truck and Tesla Cybertruck rival. That's up from 20,000 reported May 20 after a launch event, and 70,000 on May 26.

 

Meanwhile, its new compact Maverick truck has 36,000 reservations, just a week after unveiling. Ford also reported 20,000 reservations for the all-electric E-Transit commercial van and 190,000 for the new, full-size Bronco SUV.

 

Ford also recently announced acquiring Electriphi, a California-based provider of charging management and fleet monitoring software for electric vehicles. Electriphi’s team and services will be integrated into Ford Pro – a new global business within Ford committed to commercial customer productivity and to developing the most advanced charging and energy management experiences.

 

While more commercial vehicle customers are considering all-electric vehicles, charging management remains a hurdle to mass adoption. Ford Pro plans on leveraging its leadership position in the commercial vehicle market, its vehicle offerings and Electriphi’s technology to help customers with this transition.

 

“As commercial customers add electric vehicles to their fleets, they want depot charging options to make sure they’re powered up and ready to go to work every day,” said Ford Pro CEO, Ted Cannis. “With Electriphi’s existing advanced technology IP in the Ford Pro electric vehicles and services portfolio, we will enhance the experience for commercial customers and be a single- source solution for fleet-depot charging.”

 

“Customers have been clear – electrification of their fleets is inevitable, with significant economic and sustainability benefits. They now need solutions that enable a seamless transition to electric vehicles,” said Electriphi CEO and co-founder, Muffi Ghadiali. “Our synergies with Ford Pro will supercharge this transition. We’ll delight customers by helping them reap the benefits of electrification, so they can focus on what matters most – running their businesses effectively.”

 

Volkswagen AG (XETRA:VOW.DEannounced earlier in June that it is participating, with a contribution of US$620 million (about €500 million), in a financing round of its Swedish battery partner Northvolt AB with a total volume of US$2.75 billion. The Group will thus maintain its stake in the company at about 20 percent. The funds are to be used for capacity expansion in the fields of production, recycling and research and development. Among other activities, Northvolt intends to expand the capacity of its Northvolt Ett gigafactory in SkellefteĆ„, Northern Sweden from 40 GWh to 60 GWh per year, in order to meet higher demand from customers.

 

Arno Antlitz, Group Board Member for Finance and IT said, “With this investment, we are strengthening our strategic partnership with Northvolt as a supplier of sustainable battery cells which are produced using renewable energy and are comprehensively recyclable.”

 

Thomas Schmall, Group Board Member for Technology and CEO of Volkswagen Group Components stated, “Batteries are one of the key success factors in our unprecedented electric offensive. In the major area of green battery cells, we are assuming a pioneering role in Germany and Europe together.”

 

Volkswagen had already invested about €900 million in Northvolt in June 2019, acquiring about 20 percent of the shares in the company as well as a seat on the Board of Directors. The production of Volkswagen premium cells is to be concentrated at SkellefteĆ„ in cooperation with Northvolt. Production of these cells is due to start in 2023 and the annual capacity intended for Volkswagen is to be built up step-by-step to as much as 40 GWh.

 

The second Volkswagen gigafactory is located in Salzgitter and will produce the standard cell for the volume segment from 2025. It is also expected to reach an annual production volume of up to 40 GWh. Both gigafactories are to be operated using electric power from renewable energy sources.

 

All in all, Volkswagen expects to commission six cell factories in Europe by 2030 together with its partners with a view to safeguarding the ramp-up of electric vehicle production. After SkellefteƄ and Salzgitter, possible locations and partners for the next cell factories are already being considered.

 

As the production race rages on from EV automakers trying to meet current consumer demand, advancement in battery efficiency, battery recycling and battery production could see a major boom which is creating new challenges as well as opportunities for companies to solve this growing battery dilemma.

 

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Monday, June 21, 2021

Breaking #Cleantech #Stock News: dynaCERT (TSX: $DYA.TO) (OTCQX: $DYFSF) (FRA: DMJ) Announces Strategic Collaboration with Galaxy Power; @dynaCERT

Breaking #Cleantech #Stock News: dynaCERT (TSX: $DYA.TO) (OTCQX: $DYFSF) (FRA: DMJ) Announces Strategic Collaboration with Galaxy Power; @dynaCERT

 


TORONTO - June 21, 2021 (Investorideas.com Newswire) dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) ("dynaCERT" or the "Company") is pleased to announce that it has agreed with Galaxy Power Inc. ("Galaxy Power"), a newly-formed Canadian private corporation, to advise Galaxy Power, from time to time, on general innovative Hydrogen Clean Technology advancements throughout Canada. dynaCERT's Hydrogen-On-Demand solutions, existing proprietary technology, patents, know-how and all future dynaCERT projects remain as dynaCERT's continued and exclusive focus outside the scope of Galaxy Power and are not affected in any way by this association.

 

Read this news featuring DYA in full at https://www.investorideas.com/CO/DYA/news/2021/06211Galaxy-Power.asp

 

Hydrogen Economy Leaders Collaborating

dynaCERT's forward-thinking management is fully committed to maintaining a Canadian leadership role in the new Hydrogen Economy while collaborating significantly with other top-ranked industry leaders, such as Galaxy Power, to further supplement and broaden general industry knowledge.

 

Galaxy Power Inc.

Galaxy Power is a newly formed single purpose vehicle set up exclusively for the purposes of advancing a pollution-free North America, focussing specifically on new Canadian Clean Technology developments and other forms of Clean Technology and related green fuels, unrelated to dynaCERT's HydraGEN ™ Technology, with the mission of "Generating Ideals for Ideal Generations". Please see www.galaxypower.ca

 

Galaxy Power's strategic corporate objectives are aimed at furthering a new Canadian hub of Clean Technology expertise in support of Canada's Clean Technology Industry and fostering efforts in lobbying for the growth of Canada's numerous and fast-growing Clean Technology enterprises especially through the rapid expansion of Canadian Government Incentives as they apply to Clean Technology.

 

Galaxy Power intends to continue to develop, in a non-dilutive way to dynaCERT, its collaborative know-how and deploy such knowledge to eventually possibly seed or participate in future advancements in the numerous businesses of the Hydrogen Economy. In consideration of the collaboration of dynaCERT's support and industry know-how, dynaCERT International Strategic Holdings Inc. ("DISH"), a wholly owned subsidiary of dynaCERT, has been granted 20% of Galaxy Power's equity, thereby enabling dynaCERT and DISH to benefit and participate in the possible growth and eventual commercialization of new originations of Canadian proprietary Clean Technology with no future commitments by dynaCERT nor DISH.

 

Jean-Pierre Colin, President & CEO of both DISH and Galaxy Power stated, "dynaCERT brings to Galaxy Power the ability to instantly be a national leader in the knowledge-based industry of the new Hydrogen Economy. Galaxy Power's mission fits well with the advice and due diligence experience that dynaCERT's non-core industry know-how in Clean Technology can create. A dynaCERT-Galaxy Power association is a very natural strategic win-win association and a distinct value creation collaboration where we will be very pleased to eventually feature future Galaxy Power opportunities."

 

Jim Payne, CEO of dynaCERT, stated, "Galaxy Power brings to dynaCERT the high profile and unwavering dedicated team to prominently supplement our technological triumphs in innovative designs for the global new Hydrogen Technology marketplace. dynaCERT is honored to become a chosen adviser to an accomplished and highly respected national industry authority such as Galaxy Power, and with the leverage of their veteran line-up of specialists. dynaCERT is committed to constantly improving and driving our innovations with the utmost industry doyens who share our corporate mission and corporate culture. We all look forward to our noteworthy alliance together in the weeks, months and years to come as we continue to grow and expand our technology for today and into the future of the new Hydrogen Economy."

 

About dynaCERT Inc.

dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology for use with internal combustion engines. As part of the growing global hydrogen economy, our patented technology creates hydrogen and oxygen on-demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, resulting in lower carbon emissions and greater fuel efficiency. Our technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, reefer trailers, off-road construction, power generation, mining and forestry equipment, marine vessels and railroad locomotives. Website: www.dynaCERT.com.

 

READER ADVISORY

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance of achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

 

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

 

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of the release.

 

On Behalf of the Board

Murray James Payne, CEO

 

Contacts

Jim Payne, CEO & President
dynaCERT Inc.
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (416) 766-9691 x 2
jpayne@dynaCERT.com

 

Investor Relations
dynaCERT Inc.
Nancy Massicotte
+1 (416) 766-9691 x 1
nmassicotte@dynaCERT.com

 

dynaCERT Inc. (TSX:DYA.TO) (DYFSF) is a featured Renewable Energy / Fuel Cell stock on Investorideas.com

 

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https://www.investorideas.com/News-Upload/ Disclosure: dynaCERT Inc. is a paid featured renewable energy stock on Investorideas.com effective July 8th 2020.

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Thursday, June 17, 2021

#Cleantech #Stocks in the News - Solar Integrated Roofing (OTC: $SIRC) Reports 2021 Revenues Increase 187% to Record $17.1 Million; @SIRCStock

#Cleantech #Stocks in the News - Solar Integrated Roofing (OTC: $SIRC) Reports 2021 Revenues Increase 187% to Record $17.1 Million; @SIRCStock  

 

EL CAJON, CA - June 17, 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, has reported its financial results for the fourth quarter and fiscal year ended February 28, 2021.

 

Read this news, featuring SIRC in full at https://www.investorideas.com/News/2021/renewable-energy/06171SIRC-Revenues-Increase.asp

 

Key Fourth Quarter 2020 and Subsequent Operational Highlights

  • Announced that revenues for the 12 months ended May 31, 2022 are preliminarily expected to grow to at least $100 million due to the accelerated pace of acquisitions in 2021.
  • Announced and closed multiple accretive acquisitions in the solar, roofing and battery space:

-       Closed acquisition of Future Home Power, a solar, roofing and battery storage sales company, expecting 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.

-       Closed acquisition of Balance, LLC, a Business Process Outsourcing (BPO) firm - finalizing the buildout of the Company's unified back-office capabilities to support all recent and future acquisitions.

-       Closed acquisition of Pacific Lighting Management, a diversified energy services and electric vehicle (EV) charging solutions provider to large commercial and government customers, to help grow its dedicated EV charging solutions division.

-       Closed acquisition of Cornerstone Construction, a leading provider of roofing and solar solutions in South Carolina and adjacent markets, completing the Company’s transition to a national brand.

-       Closed acquisition of Enerev, a southern California residential solar installer, after successful joint venture pilot which is expected to add up to $2 million per month revenue run rate.

  • Appointed respected technology expert Muthla AlSayer, and accomplished executive and management consultant Donald Pierce to the Board of Directors.
  • Selected Coinbase Commerce as a cryptocurrency partner and has completed the technical and financial integrations to begin testing the acceptance of cryptocurrency payments from customers at its subsidiary Cornerstone Construction.
  • Engaged investor relations specialists MZ Group to lead a comprehensive strategic investor relations and financial communications program.

 

Management Commentary

"The start of fiscal 2022 was highly focused on executing upon our significant acquisition pipeline of complementary solar, roofing and battery companies,” said David Massey, Chief Executive Officer of Solar Integrated Roofing Corporation. “Our success has transformed our company into a national brand with services now spanning solar, battery backup, EV charging, roofing installation, HVAC work, electrical contracting and back-office technology support.

 

“The acquisitions drove annual revenues to a record $17.1 million and set us on a course to achieve at least $100 million in the twelve months ended May 31, 2022. Our focus on rapidly growing, high margin acquisitions has significantly grown sales, allowed us to now capture the full lifecycle of our customers, and brought new synergies and efficiencies across the SIRC family of companies. Due to this, we expect to reach profitability in FY2022.

“During the quarter we also focused efforts on our audit and transition to a fully reporting company in anticipation of an uplist to the OTCQB Venture Market. We added several highly respected directors to round out our Board and engaged MZ Group, a leading investor relations firm, to lead our communications program. Due to our rapid pace of acquisition, and the need to audit each of the newly acquired entities, we now plan to refile our Form 10 as soon as possible.

 

“Fiscal 2021 was a record year for Solar Integrated Roofing and we believe we have positioned the Company for an even more exciting fiscal 2022. Over the course of the year our team has worked tirelessly to integrate our acquisitions and continues to seek new opportunities for growth. The solar, roofing and battery market continues to grow, and our brands are capturing additional market share. With our exceptional portfolio of companies and ongoing organic growth, we look forward to sharing our future achievements with our shareholders," concluded Massey.

 

Full Year 2021 Financial Results       

Revenue for fiscal year 2021 increased 187% to a record $17.1 million, as compared to $9.1 million in fiscal year 2020. 

 

Gross profit increased 144% to $3.5 million, or 20% of total revenues, in fiscal year 2021, compared to $2.4 million, or 26% of total revenues, in fiscal year 2020.

 

Operating expenses totaled $7.8 million in fiscal year 2021, as compared to $5.9 million in fiscal year 2020. As a percentage of sales, operating expenses decreased in fiscal 2021 from 65% to 46%.

 

Net loss for fiscal year 2021 totaled $5.9 million, or $(0.03) per share, as compared to $4.6 million, or $(0.04) per share, in fiscal year 2020.

 

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
Senior Vice President
MZ North America
Main: 949-259-4987
SIRC@mzgroup.us
www.mzgroup.us

 

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Wednesday, June 16, 2021

#Solar #Stock News - Solar Integrated Roofing (OTC: $SIRC) Reports Record Fiscal Year 2021 Financial Results; @SIRCStock

#Solar #Stock News - Solar Integrated Roofing (OTC: $SIRC) Reports Record Fiscal Year 2021 Financial Results; @SIRCStock

 

FY 2021 Revenues Increase 187% to Record $17.1 Million; Company Expects to Reach Profitability in FY 2022

 


EL CAJON, CA - June 16, 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, has reported its financial results for the fourth quarter and fiscal year ended February 28, 2021.

 

Read this news, featuring SIRC in full at https://www.investorideas.com/News/2021/renewable-energy/06161SIRC-Financial-Results.asp

 

Key Fourth Quarter 2020 and Subsequent Operational Highlights

  • Announced that revenues for the 12 months ended May 31, 2022 are preliminarily expected to grow to at least $100 million due to the accelerated pace of acquisitions in 2021.
  • Announced and closed multiple accretive acquisitions in the solar, roofing and battery space:

-       Closed acquisition of Future Home Power, a solar, roofing and battery storage sales company, expecting 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.

-       Closed acquisition of Balance, LLC, a Business Process Outsourcing (BPO) firm - finalizing the buildout of the Company's unified back-office capabilities to support all recent and future acquisitions.

-       Closed acquisition of Pacific Lighting Management, a diversified energy services and electric vehicle (EV) charging solutions provider to large commercial and government customers, to help grow its dedicated EV charging solutions division.

-       Closed acquisition of Cornerstone Construction, a leading provider of roofing and solar solutions in South Carolina and adjacent markets, completing the Company’s transition to a national brand.

-       Closed acquisition of Enerev, a southern California residential solar installer, after successful joint venture pilot which is expected to add up to $2 million per month revenue run rate.

  • Appointed respected technology expert Muthla AlSayer, and accomplished executive and management consultant Donald Pierce to the Board of Directors.
  • Selected Coinbase Commerce as a cryptocurrency partner and has completed the technical and financial integrations to begin testing the acceptance of cryptocurrency payments from customers at its subsidiary Cornerstone Construction.
  • Engaged investor relations specialists MZ Group to lead a comprehensive strategic investor relations and financial communications program.

 

Management Commentary

"The start of fiscal 2022 was highly focused on executing upon our significant acquisition pipeline of complementary solar, roofing and battery companies,” said David Massey, Chief Executive Officer of Solar Integrated Roofing Corporation. “Our success has transformed our company into a national brand with services now spanning solar, battery backup, EV charging, roofing installation, HVAC work, electrical contracting and back-office technology support.

 

“The acquisitions drove annual revenues to a record $17.1 million and set us on a course to achieve at least $100 million in the twelve months ended May 31, 2022. Our focus on rapidly growing, high margin acquisitions has significantly grown sales, allowed us to now capture the full lifecycle of our customers, and brought new synergies and efficiencies across the SIRC family of companies. Due to this, we expect to reach profitability in FY2022.

“During the quarter we also focused efforts on our audit and transition to a fully reporting company in anticipation of an uplist to the OTCQB Venture Market. We added several highly respected directors to round out our Board and engaged MZ Group, a leading investor relations firm, to lead our communications program. Due to our rapid pace of acquisition, and the need to audit each of the newly acquired entities, we now plan to refile our Form 10 as soon as possible.

 

“Fiscal 2021 was a record year for Solar Integrated Roofing and we believe we have positioned the Company for an even more exciting fiscal 2022. Over the course of the year our team has worked tirelessly to integrate our acquisitions and continues to seek new opportunities for growth. The solar, roofing and battery market continues to grow, and our brands are capturing additional market share. With our exceptional portfolio of companies and ongoing organic growth, we look forward to sharing our future achievements with our shareholders," concluded Massey.

 

Full Year 2021 Financial Results       

Revenue for fiscal year 2021 increased 187% to a record $17.1 million, as compared to $9.1 million in fiscal year 2020. 

 

Gross profit increased 144% to $3.5 million, or 20% of total revenues, in fiscal year 2021, compared to $2.4 million, or 26% of total revenues, in fiscal year 2020.

 

Operating expenses totaled $7.8 million in fiscal year 2021, as compared to $5.9 million in fiscal year 2020. As a percentage of sales, operating expenses decreased in fiscal 2021 from 65% to 46%.

 

Net loss for fiscal year 2021 totaled $5.9 million, or $(0.03) per share, as compared to $4.6 million, or $(0.04) per share, in fiscal year 2020.

 

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
Senior Vice President
MZ North America
Main: 949-259-4987
SIRC@mzgroup.us
www.mzgroup.us

 

Paid News -Disclaimer/Disclosure: Investorideas.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 investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Disclosure : this news release featuring SIRC is a paid for news release on Investorideas.com  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/ and tickertagstocknews.com

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