Shed a light on one of the fastest growing solar energy companies on the OTCQB

DGAP News: SinglePoint Inc.
Shed a light on one of the fastest growing solar energy companies on the OTCQB
05.08.2022 / 14:00
The issuer is solely responsible for the content of this announcement.

Governments around the world are finally investing seriously in renewable energy, and consumer demand appears to be shifting towards more sustainable and healthier solutions. Now, an industry with hundreds of smaller, local players could experience intense competition over the next few years.

That’s why SinglePoint Inc. (OTCQB: SING) says it has used an aggressive acquisition and partnership strategy to build a nationwide renewable energy network. This fits in with their goal of providing solutions for healthy living, with a current focus on solar energy and air purification. With a large network and a synergistic portfolio of products and services that offer myriad cross-selling opportunities, SinglePoint reports that it is growing rapidly and ready for competition.

SinglePoint’s gamble on a sustainable future could pay off this year

Although the company has yet to reach profitability, it is using capital raised from shareholders and other sources to fund an acquisition and partnership strategy that is beginning to show results.

The Company has acquired five subsidiaries including Energy Wyze, BOX Clean air, Direct Solar America, ecodaptiveand Boston Solar. In addition, the company is in the process of completing the acquisition of Frontline Power Solutions.

SinglePoint had sales of $1.5 million reported in the first quarter of this year. That’s a 650% growth from the $239,000 in revenue it reported in the first quarter of 2021.

This is just the beginning of what SinglePoint has described as a breakthrough year for the company. BOX Pure Air, for example, accounted for almost all of the company’s revenue in the first quarter and is expected to generate it 10 to 12 million dollars for SinglePoint by the end of 2022.

As an Approved Air Purifier Supplier by the US Department of Education Emergency aid for non-public schools (EANS) program received BOX Pure Air a 5 million dollars Award, deliveries are scheduled to begin in the third quarter.

Launched in 2021 with an initial budget of $2.75 billion, EANS is designed to help eligible non-public schools across the country fund health and safety improvements. From improving indoor air quality to providing Personal Protective Equipment (PPE) and everything in between.

In addition to the expected BOX Pure Air revenue, SinglePoint is targeting one more 25 million dollars of the Boston Solar Co. earlier this year, a recent acquisition with a multimillion-dollar backlog of solar and energy storage projects.

As the company continues to pursue acquisitions, SinglePoint has also announced plans to use the projected earnings to invest in its subsidiaries beginning in 2022 to further grow those earnings and leverage existing synergies.

In June, for example, SinglePoint added Ecodaptive Inc. added to its portfolio through the acquisition of Boston Solar. The Clean Energy Company is developing the SunRAYS energy program in Massachusetts to enable traditionally underserved communities to benefit from solar energy without the upfront investments typically required.

Twenty-Two States Have guidelines to encourage community solar programs. More than half of US households cannot invest in solar systems due to a lack of financing, insufficient roof space, or limited sunlight to make individual solar systems viable. For these households, programs that spread the costs and share the benefits will make the transition to solar energy a viable and realistic option.

SunRAYS leverages national and consumer interest in community renewable energy programs and utilizes a rooftop lease structure. That means homeowners don’t have to pay for any installation costs up front. As an added bonus, homeowners are paid through leases to install solar panels on their roofs.

In addition to regional energy suppliers such as Eversource Energy (NYSE:ES) and National Grid plc (NYSE: NGG), the pilot program is a pioneer in solving some of the distribution problems holding the renewable energy markets. By installing the solar panels on the rooftops in the communities that use this electricity, fewer high voltage connections and power transmitters are needed to transport this energy from its source to its end user.

Singlepoint Inc is a bright light in the solar space as one of the fastest growing public solar companies in the US. Based on her incredible journey over the past two years; it will be interesting to see what happens next. Led by CEO Wil Ralston and his team, this company is said to have done an excellent job of executing on their business plan. A business plan that the company hopes to continue for the foreseeable future.

About SinglePoint Inc (OTCQB:SING)

SinglePoint Inc. (www.singlepoint.com) is a renewable energy and sustainable lifestyle company focused on providing environmentally friendly energy efficiency 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 efficiency and devices that improve sustainability and healthier living. For more information, please visit the company’s website (www.singlepoint.com) and social media for the latest updates.

This post contains sponsored advertising content. This content is for informational purposes only and is not intended as investment advice.

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SinglePoint Inc.

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Rick Lutz

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08/05/2022 Release of a Corporate News/Financial News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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