Solar Integrated Roofing Corp. (OTC PINK: SIRC) Closes Green Again After Sub-sidiary PLEMCo. Was Awarded A 5-Year Blanket Purchase Agreement (BPA) Con-tract With General Services Administration (GSA) For Electric Vehicles Charging Stations

Posted May 2, 2022

In NASDAQ: BLNK, NASDAQ: CSIQ, NASDAQ: EVGO, NASDAQ: FSLR, NASDAQ: ROCK, NASDAQ: RUN, NASDAQ: SEDG, NASDAQ: SPWR, NASDAQ: TSLA, NYSE: CHPT, NYSE: GM, NYSE: SPRQ, OTC PINK: SIRC

Solar Integrated Roofing Corp. (OTC PINK: SIRC) closed green Friday after subsidiary PLEMCo., was one of only 16 companies awarded a five-year Blanket Purchase Agreement (BPA) contract with the General Services Administration (GSA) for a Design and Material only contract to service electric vehicles. Further, SIRC’ PLEMCo., is currently applying for a second Electric Vehicle Supply Equipment (EVSE) — BPA, expected to be awarded in mid-July. That one is for Design, Equipment and installation of EV Chargers.

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), ChargePoint (NYSE: CHPT), EVgo (NASDAQ: EVGO), 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).

Solar Integrated Roofing Corp. (OTC PINK: SIRC) Closes Green Again After Subsidiary PLEMCo. Was Awarded A 5-Year Blanket Purchase Agreement (BPA) Contract With General Services Administration (GSA) For Electric Vehicles Charging Stations

The federal government has allocated $5 billion to help build a national network of EV Charging Stations, supporting a national effort to create a nationwide network of electric vehicles. Grants are now federal law. One of the bipartisan Infrastructure Bill’s stated goals is to install EV Charging Stations every 50 miles along the interstate system.

All spending at the Federal, State, Local and Department level for government funded EVSE will be bid and awarded through the GSA. Installation may be done by government entities, contracted out through a secondary bid process or by utilities. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Closes Green Again After Subsidiary PLEMCo. Was Awarded A 5-Year Blanket Purchase Agreement (BPA) Contract With General Services Administration (GSA) For Electric Vehicles Charging Stations.

Now, SIRC will be authorized to participate in this program. Its stock has closed green Friday. Solar Integrated Roofing Corp. (OTC PINK: SIRC) subsidiary PLEMCo. is one of only 16 firms awarded a five-year blanket purchase agreement (BPA) with the General Services Administration (GSA) which is part of the $5 billion in federal funds to service electric vehicles.

PLEMCo’s award is a five year Design and Material only contract for Level 2 and Level 3 chargers. A second Electric Vehicle Supply Equipment (EVSE) — BPA is currently being submitted that will include Design, Equipment and installation of EV Chargers, which is expected to be awarded by July.

According to research firm Technavio, government spending will help the EV Charging Market Station grow by $22.02 billion from 2020-2025. Other factors will help propel expansion in this dynamic market — such as M&A and collaboration between charging company brands themselves and partnerships between charging companies and others allied to the industry. These include OEM EV car/truck manufacturer brands and aftermarket businesses, such as auto repair/tire firms.

David Massey, CEO of SIRC, said, “We are privileged to be one of only 16 companies in the United States to be authorized to potentially supply over 500,000 EV Charging Stations across the country over the next decade. These stations are set to supercharge the increasingly widespread adoption of electric vehicles by consumers and fleets through providing charging stations across the interstate system and filling in current gaps of service.”

Massey added, “We continue to see significant industry tailwinds, as California has announced they will discontinue the sale of internal combustion engine (ICE) vehicles by 2035, potentially requiring 1.2 million EV Charging Stations installations to be completed to support the transition. Washington State has also announced an intention to eliminate ICE vehicle sales even earlier, by 2030. Taken together, the EV charging market is expected to surpass the $28.4 billion mark by 2028 and continue upwards — an exciting opportunity for us to empower through charging installations.

“This contract further supports our strategic shift towards prioritizing our over $30 million electric vehicle (EV) charging station pipeline and over $20 million EV charging project backlog given the immense near-term opportunities. This will serve to further bolster our position as a clear national player in the space, helping to create sustainable value for our shareholders. We look forward to additional announcements regarding EV Charging opportunities in the months ahead,” Massey concluded.

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

Source: Stock Market Press

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Nitin Harlalka

Nitin Harlalka is a Stock Market Press contributor who has covered financial market for close a decade. With a graduate degree in Economics, Nitin has been a freelance stock market and business journalist for a range of publications. Most recently, he has covered emerging industries such as cannabis and blockchain.