Solar Integrated Roofing Corp. Closes Future Home Power Acquisition, Adding $1 Million per Week in Expected Near-Term, High-Margin Revenue
EL CAJON, CA / ACCESSWIRE / June 9, 2021 / Solar Integrated Roofing Corp. (OTC PINK:SIRC), an integrated, single installation company for solar and roofing systems, today announced the closing of its acquisition of Future Home Stream, a sales company for solar energy, roofing and battery storage.
Founded by Jason Newby in late 2020, Future Home Power specializes in the sale of residential solar panels, roofing and battery storage – working with local installers, mainly SIRC portfolio companies in the future, to complete the installation on site. Future Home Power has built a strong reputation for providing customers with a smooth and easy process for consultation and installation of solar panels and battery storage. The company expects the acquisition to contribute immediately and grow rapidly to $1 million per week in incremental sales with a robust 45% gross margin profile, creating value across the customer’s lifecycle.
“The rapid completion of our acquisition of Future Home Power is timely for us as they are on track to reach 60 sales reps by the end of May with further growth planned beyond,” 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 sustainable, incremental sales per week as early as next month – Future Home Power, for example, has $500,000 in the last week of May alone. 1.4 million and is likely to reach $2.0 million in weekly revenue in the near term.
“The acquisition is expected to be a key growth engine for our other subsidiaries in the coming years, which can complete contract work on site once the sale is completed, 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 improve 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 and roofing installation platform specializing in commercial and residential real estate in the United States. The company’s wide range of solutions spans the sale and installation of solar energy systems, backup batteries and charging stations for electric vehicles (EVs) to roofing, HVAC and related electrical contractors. For more information, visit the company’s website at: www.solarintegratedroofing.com.
Any statements in this press release that are not historical facts contain certain forward-looking statements; as that term is defined in the Private Security Litigation Reform Act of 1995, in reference to potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release relates. Actual results of the specific items described in this press release, and the Company’s operations in general, may differ materially from those projected in such forward-looking statements. While such statements are based on the best judgment of the company’s management as of the date of this press release, significant differences in size, timing and other factors could arise from business risks and uncertainties, including, but not limited to, reliance on the business of third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of income and other factors, many of which are beyond the company’s control. The company disclaims any obligation to update the information in any forward-looking statement. This press release should not be regarded as a general request.
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SOURCE: Solar Integrated Roofing Corp.
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