Ideanomics (NASDAQ: IDEX) Acquires Remaining Stock Of Electric Tractor Maker Solectrac, Inc.; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Has Agreement To Supply Solectrac With Solar Panels And Related Equipment. Is SIRC Next Acquisition Target For Disruptive Technology Company Ideanomics?
Disruptive technology company Ideanomics (NASDAQ: IDEX) has fully acquired the 78.6% of remaining stock of electric tractor maker Solectrac, Inc., after a series of buys starting in 2020. It puts Ideanomics deeper into the EV business — it seeks to make California-based Solectrac the go-to brand worldwide, not just North America. SIRC, with a dedicated EV Charging Station division, last December signed an agreement to supply Solectrac with solar panels and other related equipment. So Is SIRC the next acquisition target for Ideanomics (NASDAQ: IDEX)?
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 Solectrac to build up invent(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).
Ideanomics (NASDAQ: IDEX) Acquires Remaining Stock Of Electric Tractor Maker Solectrac, Inc.; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Has Agreement To Supply Soletrac With Solar Panels And Related Equipment. Is SIRC Next Acquisition Target For Disruptive Technology Company Ideanomics?
The acquisition of the remaining stock of Solectrac by Ideanomics (NASDAQ: IDEX) follows its ecosystem strategy of EV zero emissions. Ideanomics says it believes that the electric tractor company is scalable and market-ready to generate revenue in the U.S. with proven demand. The purchase will allow Solectrac to build up inventory, diversify its supply chain and Improve its negotiating power observed site StreetInsider. Ideanomics (NASDAQ: IDEX) stock closed trading at $3.03 yesterday.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) last December signed an agreement to provide solar panels, related equipment and installation with electric tractor manufacturer and developer Solectrac, Inc., an applicant of a $500 Million USTDA (United States Trade And Development Agency grant). SIRC will supply electric storage, solar panels and other power devices and installation services to Solectrac’s existing and grant projects, where applicable. It also calls for the same services by SIRC to Solectrac’s future customers and grants projects.
So after the final acquisition of Soletrac by Ideanomics (NASDAQ: IDEX) yesterday the question is whether Solar Integrated Roofing Corp. (OTC PINK: SIRC) is the next acquisition target for Ideanomics? SIRC has a dedicated EV Charging Station division, with already-acquired Pacific Lighting Management or PLEMCo. operating in the EV industry. SIRC also has an agreement in place to supply Solectrac with equipment such as solar panels. The agreement calls for SIRC to also provide the same services to Solectrac’s future customers and grant projects.
Alf Poor, CEO of Ideanomics, said, “The acquisition of Soletrac is perfectly aligned with our EV and Mobility initiatives.” Of electric tractors, he added: “They are also an underserved part of the market when it comes to EV initiatives.” Steve Heckeroth, Founder and CEO of Solectrac, said, “Our mission is to lead the transition from fossil fuel-based farming to zero emission regenerative agriculture with best-in-class technologies and Ideanomics will help us accelerate our progress toward that game-changing goal.” Ideanomics (NASDAQ: IDEX) Acquires Remaining Stock Of Electric Tractor Maker Solectrac, Inc.; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Has Agreement To Supply Soletrac With Solar Panels And Related Equipment. Is SIRC Next Acquisition Target For Disruptive Technology Company Ideanomics?
Like Ideanomics, Solar Integrated Roofing Corp. (OTC PINK: SIRC) is a fast-growing company with a focus on EV and clean energy businesses. SIRC has announced at least $100 million preliminary 12 month revenue guidance through May 31, 2022, reflecting its rapid growth both through acquisitions and organic performance. David Massey, CEO of SIRC, said the company could grow volume even further in this time period if SIRC continues to populate its acquisition pipeline. SIRC has been rolling up roofers and solar and battery installers creating a true platform company.”
Massey, CEO of Solar Integrated Roofing Corp. (OTC PINK: SIRC), said, “We accelerated our rapid pace of acquisitions in 2021, rolling up roofers as well as solar and battery installers — creating a true platform company with the back office and sales capabilities to scale nationwide. When taking into account our recently acquired companies, we’ve built a significant customer base across the SIRC family of companies. While there is seasonality inherent to our business and the revenue will not be divided evenly month to month, we expect that we will generate at least $100 million of revenue over the next 12 months with the acquisitions we have announced to date.”
If SIRC Further Populates Its Acquisition Pipeline, The $100 Million Guidance Figure Could Grow
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.” Ideanomics (NASDAQ: IDEX) Acquires Remaining Stock Of Electric Tractor Maker Solectrac, Inc.; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Has Agreement To Supply Soletrac With Solar Panels And Related Equipment. Is SIRC Next Acquisition Target For Disruptive Technology Company Ideanomics?
The company pointed out that final recognized revenue is subject to SIRC’s annual and quarterly audits and will, accordingly, be released with the company’s audited financial statements and related annual and quarterly reports once fully reporting. Ideanomics (NASDAQ: IDEX) Acquires Remaining Stock Of Electric Tractor Maker Solectrac, Inc.; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Has Agreement To Supply Soletrac With Solar Panels And Related Equipment. Is SIRC Next Acquisition Target For Disruptive Technology Company Ideanomics?
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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