New acquisition to expand the possibilities on the important state contract market
EL CAJON, CA / ACCESSWIRE / February 11, 2021 / Solar Integrated Roofing Corp. (OTC PINK: SIRC), an integrated solar and rooftop installation company, announced today that it has signed a Letter of Intent (LOI) with Pacific Lighting Management, Inc. (“Pacific Lighting”), a GAAP audited company , diversified provider of solutions for energy services and charging stations for electric vehicles for large commercial and government customers.
Pacific Lighting has specialized in the design and implementation of photovoltaic solar systems, energy efficiency measures and charging stations for electric vehicles for commercial and government establishments throughout the Southwest since 2003. Past Pacific Lighting customers include federal, state and local governments, school districts, hospitals and large commercial customers.
Pacific Lighting has several long term contracts (IDIQ type) with the Federal General Services Administration (GSA and GSA fleet). Pacific Lighting is also qualified as an ESCo (Energy Services Company) by the US Department of Energy.
“Our growth over the past 18 years has been phenomenal. Between our resources and existing customer base, as well as the resources of Solar Integrated Roofings and experience with solar energy, we believe the combination will take both companies to new heights. The entire team at.” Pacific Lighting is excited to work so closely with Mr. Massey, “said Ted Hatamian, Pacific Lightning’s chief executive officer.
“Pacific Lighting is a highly respected brand and will be a transformative partnership for our company that will expand our opportunities in the significant government contract market,” said David Massey, chairman of the board of directors of Solar Integrated Roofing Corporation. “Your ESCo energy services company qualification is difficult to attain and is held by only a few dozen large construction companies and a fraction of small companies, empowering them to often enter into large” performance contracts “with federal and local governments. The close ties with government agencies that have since Over 18 years of existence are a unique and valuable opportunity for our growing portfolio of operating companies.
The story goes on
“This positive cash flow acquisition complements our existing product line with the diverse revenue streams of Pacific Lighting in the energy services market, particularly with regard to our recently announced initiative for EV charging stations. In addition, with our full range of products and services, we can offer nationwide customer opportunities in solar, battery backup, canopy and related HVAC / electrical work. We look forward to adding the services, customers and the highly skilled team of Pacific Lighting to our company, “concluded Massey.
Completion of a potential acquisition is subject to final due diligence, negotiation and execution of a final purchase agreement and all necessary approvals. The goal is to close by the end of our fiscal year, February 2021.
About Pacific Lighting Management
Pacific Lighting & Energy Mgmt was founded in 2003. Co. has over a decade of experience selling, designing and installing power generation and energy and water efficiency measures, serving primarily government and large commercial customers. Pacific Lighting is a qualified US DoE ESCO. We have been rated by Dunn & Bradstreets OpenRatings. We keep GSA contracts under Sch. 56 (GS-07F-0167X) with over 2000 energy efficiency products and Sch. 84 (GS-07F-0467Y) for FEMP enable projects. We hold a BPA (GS-30F-GA083) for sales of EV chargers to the federal government and two similar BPAs (1-14-61-13B & 1-14-61-14D) with the State of California. We are a S. Cal. Edison Charge-Ready Approved Provider. More information is available at www.pacltg.com.
About Solar Integrated Roofing Corp.
Solar Integrated Roofing Corporation (OTC: SIRC) is a one-stop, integrated solar and roofing installation company specializing in commercial and residential real estate in the Southern California market. The company’s broad range of solutions includes the sale and installation of solar systems, battery backup and charging stations for electric vehicles (EV) for roofers, HVAC and related electrical installation work. For more information, please visit the company’s website at www.solarintegratedroofing.com.
All statements made in this press release that are not historical facts contain certain forward-looking statements. As such a term is defined in the Private Security Litigation Reform Act of 1995, which addresses potential developments that have an impact on the business, prospects, financial condition and other aspects of the company to which this news release relates. Actual results on the specific items described in this press release, and the company’s business in general, could differ materially from those projected in such forward-looking statements. While such statements are based on the best estimates of the company’s management as of the date of this publication, material differences in size, timing and other factors could result from business risks and uncertainties, including, without limitation, the company’s reliance on third parties. General market and economic conditions, technical factors, availability of debt capital, receipt of income, and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update the information contained in forward-looking statements. This press release is not intended as a general solicitation.
Investor Relations Contact:
Lucas A. Zimmerman
Senior Vice President
MZ North America
SOURCE: Solar Integrated Roof Corp.
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