House Adjourns But Senate Votes On Amendments For $1.2 Trillion Infrastructure Package As Sen. Schumer Hopes For Final Vote Before August 9; Solar And EV Charging Stations Funding Hang In Balance; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Says On Track For $150 Million Volume In 2022 FY

The House has adjourned until September, but the Senate is voting on amendments on the $1.2 trillion infrastructure package — the first part of President Biden’s total infrastructure plan, which contains funding for solar and EV Charging Station initiatives. Majority Leader (D-NY) Sen. Schumer plans a final vote before August 9 — the day when the Senate will start its own summer recess. Federal tax credits, grants and other financial support programs for solar and EV Charging Stations are included in the program. In the green renewable energy space, Solar Integrated Roofing Corp. (OTC PINK: SIRC) recently acquired USA Solar Network. SIRC says its FY 2022 sales volume is on track to reach $150 million.

stockmarketpress.com features specialized coverage of related stocks in the solar, roofing, EV charging stations and battery charging energy industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sunrun, Inc. (NASDAQ: RUN), Blink Charging Co. (NASDAQ: BLNK), Tesla, Inc. (NASDAQ: TSLA), GM (NYSE: GM), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK), Spartan Acquisition Corp. II (NYSE: SPRQ). and Canadian Solar Inc. (NASDAQ: CSIQ).

House Adjourns But Senate Votes On Amendments For $1.2 Trillion Infrastructure Package As Sen. Schumer Hopes For Final Vote Before August 9; Solar And EV Charging Stations Funding Hang In Balance; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Says On Track For $150 Million Volume In 2022 FY

Senators are offering amendments to the $1.2 trillion package again today and the plan is critical to funding for green renewable energy — solar, EV Charging Stations and wind. To companies like Solar Integrated Roofing Corp. (OTC PINK: SIRC), which are heavily committed to both sectors, the outcome is vital. In fact, SIRC has already applied to the government for EV Charging Station support grants.

The $1.2 trillion infrastructure program is only step one — with step two, the package will total more than $4 trillion in infrastructure spending. Actually, The Wall Street Journal reports that the figure is really $5+ trillion because hidden in the bill are ‘temporary’ infrastructure provisions not counted in the total. In time, those ‘temporary’ provisions will become ‘permanent,’ the Journal says.

For solar tax credits and EV Charging Station build out grants, the infrastructure program is vital. To firms like Solar Integrated Roofing Corp. (OTC PINK: SIRC), the infrastructure program is key to future renewable green support spending — such as federal tax credits for solar installations, rebates for purchases of new EV electric cars and outright grants for build out of more EV electric charging station installations.

Renewable green energy initiatives are priorities of the Biden Administration and Democrats. They agree themselves on their own $3.5 trillion new spending package — combined with the $600 billion already in the bipartisan spending program — makes for a total of $4.1 trillion. House Adjourns But Senate Votes On Amendments For $1.2 Trillion Infrastructure Package As Sen. Schumer Hopes For Final Vote Before August 9; Solar And EV Charging Stations Funding Hang In Balance; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Says On Track For $150 Million Volume In 2022 FY.

As part of its commitment to green renewable energy, SIRC last week signed a purchase agreement to acquire USA Solar Network  LLC, a solar energy and EV Charging infrastructure company, enabling to expand its sales by 50-100% growth or $50 million per year in incremental growth at 16% gross margins as early as FY 2022. Led by Pablo Diaz, CEO, USA Solar Network has scaled into 38 states and key markets such as Texas, Florida, Illinois, Arizona, Missouri and New Mexico.

Massey praised the accomplishments of Pablo, particularly completing more than 7,000 solar projects to date, he said, and generating over $40 million in revenue since 2018. SIRC believes the acquisition will enable it to achieve 50-100% incremental residential and commercial sales at 16% gross margins in FY 2022. Read more about USA Solar Networks here. House Adjourns But Senate Votes On Amendments For $1.2 Trillion Infrastructure Package As Sen. Schumer Hopes For Final Vote Before August 9; Solar And EV Charging Stations Funding Hang In Balance; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Says On Track For $150 Million Volume In 2022 FY.

SIRC went still further when it announced its planned acquisition of Approved Home Pros, a multi-platform media production company with a proprietary referral service ‘Pro Finder’ tool offering consumers access to contractors who have passed a screening, vetting and referral service test. The transaction is anticipated to give SIRC an additional $11 million in annualized sales. It will offer leads to the SIRC family of companies while also offering the company enhanced branding and exposure to consumers. It is also part of SIRC’s strategy of increasing its internally-generated or organic growth.

Solar Integrated Roofing Corp. (OTC PINK: SIRC) reported June sales reached $10+ million, including some Future Home Power (FHP) volume which was prior to its June 9 acquisition by SIRC, so it will be designation non-SIRC revenue. In total, FHP did $6+ million in June alone. For July, SIRC announced it had generated a record monthly increase to $10.5 million — 600% over the comparable period last year.

David Massey, CEO of SIRC, told shareholders in his first live Q&A session that the company is now tracking towards a $150 million volume in FY 2022. His vision for later performance is for the company to be doing $250 million annually with a $25 million gross profit. House Adjourns But Senate Votes On Amendments For $1.2 Trillion Infrastructure Package As Sen. Schumer Hopes For Final Vote Before August 9; Solar And EV Charging Stations Funding Hang In Balance; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Says On Track For $150 Million Volume In 2022 FY.

The transaction to buy USA Solar Network marks an important moment for SIRC — in addition to the anticipated dramatic volume and footprint gains. David Massey, CEO of SIRC, said, “USA Solar Network has a footprint in exciting new markets that will continue to broaden our national reach — the missing piece to the puzzle, allowing us to expand to new markets nationally with minimal cost using their existing network spanning solar and EV installation.”

Massey added that USA Solar Network has built strong partnerships with key players in the solar and EV charging industries. The acquisition is expected to act as a notable growth driver for solar and EV charger installers within the SIRC family of companies who can complete the work once the sale is complete through USA Network, capturing the full lifecycle value of each customer, the Company said.

Massey said, “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 achieve profitability in FY 2022.”

With its newest acquisitions, Massey said SIRC is now on track to generate $150 million in revenue in FY 2022. Massey added, “We are realizing both acquisitive and organic growth on all fronts while minimizing dilution. Looking ahead, we continue to populate our acquisition pipeline which could further grow this $100 million revenue guidance figure. I look forward to continued operational execution in the months ahead, working closely with our team to create sustainable value for our shareholders over the long-term.”

Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.

Source: Stock Market Press

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