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Tuesday, August 3, 2021

EV Charging; the Rise of Solar Integrated Roofing Corp (OTCMKTS: SIRC)

Solar Integrated Roofing Corp (OTCMKTS: SIRC) is making a powerful run up the charts after the Company announced the launch of a dedicated electric vehicle (EV) charging solutions division to address emerging opportunities in the rapidly growing EV charging space. The Company will focus on the sales, marketing, installation, and service of personal EV chargers at residential properties, as well as on public EV charging infrastructure for network operators. Sales efforts will be driven through cross-selling existing customers as well as through the potential acquisition of existing EV charging solutions providers. The EV market is booming!  According to a report published in June by ResearchAndMarkets.com titled the “Electric Cars Global Market Report 2020-30: COVID-19 Growth and Change”” the global electric cars market is projected to be worth 515.8 billion in 2020.

There is a lot to get excited about on SIRC which has seen significant growth through acquisition recently reporting revenues of greater than $3.3 million for the months of September and October 2020 alone. The Company has recently completed an audit with the intention of becoming a fully SEC reporting Company and applied for QX listing. Microcapdaily first reported on SIRC in September when the stock was around $0.05.

Solar Integrated Roofing Corp (OTCMKTS: SIRC) operating out of El Cajon, California is leading, “green energy” Southwest-based solar and roofing installation company specializing in commercial and residential properties with a focus on growth through acquisition.  Solar Integrated mission is to become the nationwide leader in green energy by employing an effective strategy for solar and roofing needs by making it cost-effective and energy-efficient. Founded in 1989, Solar Integrated Roofing started installing residential roofs in the San Diego area. Quickly becoming the largest residential roofing company in San Diego with the trusted name of Secure Roof. In 2008, The Company’s founder and current CEO Dave Massey saw the vision of PV Solar being installed on roofs in California as the green energy movement began. They identified that when financing green roofing projects at a low cost, the low-interest loan could finance a roofing solar project for less than the homeowners’ electric bill.

The Company has been experiencing serious growth through acquisition; During the year ended February 29, 2020, Solar Integrated acquired Narrate, LLC, McKay Roofing Company Inc., Milholland Electric, and Montross Companies, Inc. in a series of cash and stock transactions. Solar Integrated has been focused on up-listing its shares to the QX exchange this year. To this end the Company has been working with OTC Markets and retained a new accounting firm with vast public company experience. The Company also named Angela Smoley, CPA as CFO of SIRC. Ms. Smoley has a background in mergers and acquisitions, auditing, corporate finance, and accounting management. Currently SIRC is listed is “pink current” on OtcMarkets.com.

SIRC is doing significant sales reported on November 18 it has realized record revenue quarter-to-date, seeing revenues of greater than $3.3 million for the months of September and October 2020. CEO David Massey stated: “the third quarter of 2020 has been highlighted by continued growth of our highly complementary solar and roofing businesses. With supportive industry trends driving increased solar adoption and our significant cross selling opportunities across solar, battery backup installation, roofing and related HVAC/electrical contracting work, we have driven what I expect to be a record third quarter, with year-over-year revenue growth in excess of 50% to $3.3 million at an expected 40% gross margin for the months of September and October 2020. As we continue to achieve scale through acquisition, such as our recently announced HVAC acquisition or potential future Enerev acquisition after the completion of our 30-day joint venture, I would expect continued record-breaking results for us as we fully realize the immense cross-selling benefits that face us today.

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SIRC

The Company recently partnered with several San Diego county home builders to expand its addressable opportunity into the new home market, marking the Company’s initial entry into servicing large, new residential housing developments. Now that state regulations require solar to be integrated into the roof of every new home in the State of California, new housing developments present not only a significant roofing installation opportunity but a mandated minimum solar installation opportunity as well. The Company expects each new home with roofing, and the minimum required solar installation will generate at least $13,000 in revenue.

Solar Integrated Roofing has established partnerships with several small and medium San Diego county builders to expand into this new market, having already secured approximately 500 new homes in its project pipeline. This will provide Solar Integrated Roofing with an estimated $6.5 million in revenue from this first lot of homes. California’s new home market, according to the San Diego Tribune, averages 80,000 new homes per year. Requiring solar integration, as mentioned, on each new home will help reduce the current rolling brownouts and blackouts in California resulting from the currently limited energy supply.

On December2 SIRC announced the launch of a dedicated electric vehicle (EV) charging solutions division to address emerging opportunities in the rapidly growing EV charging space. The Company will focus on the sales, marketing, installation, and service of personal EV chargers at residential properties, as well as on public EV charging infrastructure for network operators. Sales efforts will be driven through cross-selling existing customers as well as through the potential acquisition of existing EV charging solutions providers, addressing California’s growing EV market, which composed 7.84% of new car sales in 2018 with a regulatory target of all new vehicle sales to be zero emissions by 2035.

CEO David Massey stated: “I am pleased to announce the launch of our newest initiative to aggressively enter into the EV charging space, addressing a large, rapidly growing market with significant regulatory tailwinds. We intend to leverage our existing customer base for improved cross-selling opportunities and to explore acquisitions of existing EV charging solutions providers to position us to grow market share over the long-term. I look forward to continued execution into 2021 as we work to create sustainable value for our shareholders.”

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Currenty making a powerful run up the charts SIRC is an exciting story in small caps; SIRC which has seen significant growth through acquisition recently reporting revenues of greater than $3.3 million for the months of September and October 2020 alone. The Company has also recently completed an audit with the intention of becoming a fully SEC reporting Company and applied for QX listing. Microcapdaily first reported on SIRC in September when the stock was around $0.05. SIRC is getting noticed by Investors after the Company announced the launch of a dedicated electric vehicle (EV) charging solutions division to address emerging opportunities in the rapidly growing EV charging space. The Company will focus on the sales, marketing, installation, and service of personal EV chargers at residential properties, as well as on public EV charging infrastructure for network operators. Sales efforts will be driven through cross-selling existing customers as well as through the potential acquisition of existing EV charging solutions providers. The EV market is booming!  According to a report published in June by ResearchAndMarkets.com titled the “Electric Cars Global Market Report 2020-30: COVID-19 Growth and Change”” the global electric cars market is projected to be worth 515.8 billion in 2020. We will be updating on SIRC when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with SIRC.

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Disclosure: we hold no position in SIRC either long or short and we have not been compensated for this article.

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