Ideanomics (NASDAQ: IDEX) And Solar Integrated Roofing Corp. (OTC PINK: SIRC) Have Several Strategies In Common: They Both Are Focused On The Electric Vehicle Market, They Are Involved In Solectrac EV Agricultural Farming And Each Is Fast-Growing; Is SIRC Next Acquisition Target For Disruptive Tech-nology Company Ideanomics?
Ideanomics (NASDAQ: IDEX), a disruptive technology company, and Solar Integrated Roofing Corp. (OTC PINK: SIRC) are fast-acquiring companies with a passion for green renewable energy and EV vehicles. Ideanomics this week acquired US Hybrid — manufacturer and distributor of electric powertrain parts — while SIRC recently closed on its acquisition of San Diego-based Future Home Power, which specializes in the sales of residential solar panels as well as battery storage — partnering with local installers to finalize on-site installation. IDEX also recently fully acquired the 78.6% of remaining stock of electric tractor maker Solectrac, Inc. SIRC has an agreement to supply Soletrac with solar panels and related equipment. It puts Ideanomics deeper into the EV business — is this enough to make 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) And Solar Integrated Roofing Corp. (OTC PINK: SIRC) Have Several Strategies In Common: They Both Are Focused On The Electric Vehicle Market, They Are Involved In Solectrac EV Agricultural Farming And Each Is Fast-Growing; Is SIRC Next Acquisition Target For Disruptive Technology Company Ideanomics?
Ideanomics (NASDAQ: IDEX) stock closed yesterday at $3.13 in after-hours trading. It is focused on commercial fleet electric vehicles. IDEX maintains an eco system of renewable energy industries — such as Solectrac, which IDEX believes is scalable globally and brings all-electric vehicles to what been a carbon-emitting fossil fuels industry.
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.” Ideanomics Capital offers disruptive Fintech solutions for companies experiencing technological disruption. Its acquisition of US Hybrid similarly is a commitment to the EV vehicle and support industry. It bought 100% of the privately held company.
So after the complete acquisition of Soletrac by Ideanomics (NASDAQ: IDEX) and its most recent takeover of US Hybrid the question is whether Solar Integrated Roofing Corp. (OTC PINK: SIRC) is the next acquisition target for Ideanomics? Each company is focused on green renewable energy and aggressively acquires companies in this space. Ideanomics (NASDAQ: IDEX) And Solar Integrated Roofing Corp. (OTC PINK: SIRC) Have Several Strategies In Common: They Both Are Focused On The Electric Vehicle Market, They Are Involved In Solectrac EV Agricultural Farming And Each Is Fast-Growing; 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.
Government Grants Applied For By Ideanomics And SIRC
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. Ideanomics (NASDAQ: IDEX) And Solar Integrated Roofing Corp. (OTC PINK: SIRC) Have Several Strategies In Common: They Both Are Focused On The Electric Vehicle Market, They Are Involved In Solectrac EV Agricultural Farming And Each Is Fast-Growing; Is SIRC Next Acquisition Target For Disruptive Technology Company Ideanomics?
Like Soletrac — now completely owned by IDEX — SIRC has applied for a Department of Energy (DOE) $20-$40 million grant, it said. Massey said, “We recently applied for a Department of Energy grant, which could provide between $20-$40 million in funding to help support the build-out of dedicated electric vehicle (EV) charging solutions nationwide through our various operating brands.”
SIRC is active in the EV Charging Station space, having acquired Pacific Lighting Management Co., or PLEMCo., for its dedicated EV Charging Station division. SIRC is already looking at more potential EV Charging Station target companies for future takeovers, according to David Massey, CEO of SIRC. Massey said, “Getting into EV charging was a really big move for us.” Ideanomics (NASDAQ: IDEX) And Solar Integrated Roofing Corp. (OTC PINK: SIRC) Have Several Strategies In Common: They Both Are Focused On The Electric Vehicle Market, They Are Involved In Solectrac EV Agricultural Farming And Each Is Fast-Growing; Is SIRC Next Acquisition Target For Disruptive Technology Company Ideanomics?
Solar Integrated Roofing Corp. (OTC PINK: SIRC) also is aggressive in renewable energy, acquiring firms such as Enerev LLC and Cornerstone Construction. David Massey, CE of SIRC, commented recently when SIRC acquired Future Home Power: “Future Home Power is a true up and comer in the solar and battery storage business.”
Solar Integrated Roofing Corp. (OTC PINK: SIRC) is a fast-growing company with a focus on EV and clean energy businesses. SIRC has projected and reaffirmed again at least $100 million preliminary 12 month revenue guidance through May 31, 2022, reflecting its rapid growth through acquisitions and organic performance. It also reported an 87% gain in sales in FY2021 to $17.1 million and projected it would reach profit in FY2022.
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.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
Join Stock Market Press’ newsletter for the latest in IPO, market commentary and company profiles.
Stock Market Press is a financial news company that delivers up to date stock news, introduces private and public companies to a wide audience of investors, consumers, journalists and the general public via social media and a rapidly expanding network.
Contact:
Stock Market Press
110 Wall St.
New York, NY 10005 info@stockmarketpress.com https://twitter.com/PressStock
Safe Harbor Statement:
Statements in this news release may be ”forward-looking statements.” Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Stock Market Press undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
See Stock Market Press disclaimer: https://stockmarketpress.com/disclaimer/ SOURCE: Stock Market Press
