Solar Integrated Roofing Corp. (OTC PINK: SIRC) Enters EV Charging Installer Space By Officially Opening Operations Of Its New Dedicated EV Charging Solutions Division In An Industry Seen As $39 Billion Annually By 2027
Solar Integrated Roofing Corp. (OTC PINK: SIRC) announces today (Wednesday, February 3, 2021) the official commencement of operations of its new dedicated EV Charger solutions division, an industry forecast to reach $39 billion by 2027, according to Precedence Research. It is seen growing at a CAGR of 40.7% from 2020-2027. SIRC is growing aggressively by acquisition and it is currently exploring the potential takeover of several EV charger installers nationwide as it recommits to solar and other clean energy sectors, the company said.
stockmarketpress.com features specialized coverage of related stocks in the solar, roofing 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), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK) and Canadian Solar Inc. (NASDAQ: CSIQ).
Solar Integrated Roofing Corp. (OTC PINK: SIRC) Enters EV Charging Installer Space By Officially Opening Operations Of Its New Dedicated EV Charging Solutions Division In An Industry Seen As $39 Billion Annually By 2027
Solar Integrated Roofing Corp. (OTC PINK: SIRC) is entering the EV charger installation market focusing on sales, marketing, installation and service of personal EV chargers — as well as on public EV charging infrastructure for network operators. To that end, SIRC will leverage its designation as a Tesla (NASDAQ: TSLA) certified installer. It will also focus on potential acquisition growth of various EV charging installers nationally. SIRC sees a fast-growing domestic market in the category made quicker by California mandating all new vehicle sales need to be zero emissions by 2035.
David Massey, SIRC CEO, Sees Acquisitions Ahead
David Massey, CEO Solar Integrated Roofing Corp. (OTC PINK: SIRC), said, “We are excited to have entered the substantial, growing EV charging space — addressing an incredible rapidly growing market opportunity. We are well positioned to acquire promising EV charger installs in key growth markets across the U.S. where early EV adoption has been greatest. I look forward to announcing further developments on this front as we continue our rapid pace of operational execution, creating long-term value for our shareholders.” Solar Integrated Roofing Corp. (OTC PINK: SIRC) Enters EV Charging Installer Space By Officially Opening Operations Of Its New Dedicated EV Charging Solutions Division In An Industry Seen As $39 Billion Annually By 2027
SIRC Committed To Solar And Other Clean Energy Sectors
SIRC is committed to solar and other clean energy adjacent sectors. Not only has the Company made operational its new dedicated division for the EV battery charging market, it also recently acquired solar company Enerev LLC entered a new alliance with San Diego builders to enter the new home business in that market. It also reached agreement with Solectrac, Inc., an all-electric tractor developer and manufacturer located in Northern California. That company is now 24% owned by Ideanomics (NASDAQ: IDEX). and Solectrac is an applicant for a $500 million USTDA grant.
Tesla, Inc. (NASDAQ: TSLA) Names Solar Integrated Roofing Corp. (OTC PINK: SIRC) To Certified Installer Status
Reinforcing its commitment to solar and clean energy, SIRC was named by Tesla (NASDAQ: TSLA) to Tesla-Certified installer status. Now, both are also in the EV battery charging station industry — as SIRC has established and officially opened its dedicated EV battery charging station solutions division. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Enters EV Charging Installer Space By Officially Opening Operations Of Its New Dedicated EV Charging Solutions Division In An Industry Seen As $39 Billion Annually By 2027.
SIRC’s Acquisition Of Solar Company Enerev LLC
Solar Integrated Roofing Corp. (OTC PINK: SIRC) recently continued its quick acquisition pace of buying solar companies when it closed on its purchase of Enerev LLC. Similarly, SIRC now sees opportunity in potential acquisitions of various EV charging installers nationwide in the future.
SIRC Shares Seen Trading North Of $1.00 And Beyond In 2021By Goldman Small Cap Research
Goldman Small Cap Research in an updated report in January 2021, explained that SIRC’s stock still has a lot to gain in valuation metric. “Thus, we believe that these shares (SIRC) could trade north of $1.00 and beyond in 2021, especially as new companies are brought into the SIRC family,” it concluded. Goldman Small Cap Research in the new report tripled its price target for Solar Integrated Roofing Corp. (OTC PINK: SIRC) to $0.75 for the next three-six months.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) Says It Will Reach $40 Million In FY 2022
Goldman likes the SIRC M&A strategy, entry into adjacent sectors, past record performance and partnership/agreement with EV developer of all-electric tractors, which is an applicant for a $500 million USTDA grant. Saying that SIRC is expanding volume both organically and with acquisition growth, it projects SIRC sales at $19.8 million for FY 2021 and $38.5 million In FY 2022.
SIRC itself forecasts a volume of $40 million for FY 2022 — slightly north of the $38.5 million projected for it that year by the new Goldman report. Massey, CEO of Solar Integrated Roofing Corp. (OTC PINK: SIRC), projects that its fast-track growth will generate revenues of $20 million for the FY ending February 28, 2021, almost precisely the $19.8 million estimated by the initial report.
Rob Goldman, Senior Analyst, cited SIRC’s Q3 FY 2021 volume jump of 130% YOY to $5.2 million in sales. It also noted SIRC’s move into new adjacent clean air categories such as EV charging stations, all-electric tractors and new home solar installations in San Diego — mandated in California — in addition to its core solar activity in Southern California.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/ (OTC PINK: SIRC).
Source: Stock Market Press
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