Solar Power and Cannabis: Two Powerhouse Markets Coming Together
New York, NY July 23, 2019 – Stock Market Press is a leading 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 reviews latest developments in the surveillance world.
The solar market is set to explode due to increased demand, lower costs, better efficiency and increased supply. One of the biggest driving forces for solar has been Cannabis/Hemp cultivation. The US approving the 2018 Farm Bill and Canada legalizing it nationwide have created an energy supply shortfall.
Cannabis cultivation has become a 24/7 operation for many companies with the advent of indoor/greenhouse facilities. As a result, electricity demand has spiked, spurring the increase in solar sourced energy. Much of this increase can be offset with solar and earlier this year, Canndescent became the first commercial-scale solar project in Cannabis.
Enter companies like Solar Integrated Roofing Corp (OTC PINK:SIRC) who can rapidly deploy rooftop solar to help meet this increased electrical demand. California in particular, has been a strong proponent of solar, recently implementing new regulations starting in 2020 that require new construction to include rooftop solar and statewide legalization of cannabis cultivation.
Solar Integrated Roofing Corporation Signs Definitive Acquisition Agreement; Extends Audit to Fiscal Year-End
Solar Integrated Roofing Corporation (OTC PINK: SIRC) CEO David Massey announced the company has signed a definitive agreement to acquire one of South Orange County, California’s most established re-roofing companies, Montross Roofing and Construction, which has been in business for more than 19 years.
”This deal is a perfect fit for us and the process was very smooth”, said Massey. ”Specializing in small commercial and HOA projects, Montross’ management team has extensive experience putting systems in place to maximize profits and productivity. Having them joining our team will coordinate nicely with another pending acquisition we will soon be announcing. This is a win-win relationship for both parties. Montross is currently on track for $3 million in revenues, but by adding SIRC‘s residential roofing and solar components and marketing, we believe we can increase that to $5 million or more.”
The company has also decided to extend their audit through the end of their fiscal year, 2/28/2019. ”The audit was taking longer than we anticipated”, added Massey. ”After conferring with our auditors, it made prudent and economic sense to extend them through the end of the fiscal year. Our acquisitions and goals will not be impacted by this decision. We’re moving forward with everything as planned and announced.”
Currently generating over $1m in revenues for the first quarter of 2019, Solar Integrated Roofing Corporation (OTC PINK: SIRC) is well positioned for next level growth with the recently completed and announced acquisitions. Targeting California has situated them in the middle of the ‘Gold Rush’ Solar marketplace.
Power consumption across the globe continues to rise, even as more efficient systems are developed to reduce the demand. The roof top real estate is ubiquitous across cities as it is across rural areas. With the advent of better technology, roof top solar systems are gaining huge market share. Zion Market Research projects the global solar rooftop market will reach over $77B by 2025.
Beacon Roofing Supply Named to Fortune 500
Beacon Roofing Supply, Inc. (NASDAQ:BECN)(“Beacon” or the “Company”) announced [recently] that it was named to the 2019 Fortune 500, published by Fortune Magazine in June of each year. This is Beacon’s debut appearance in the Fortune 500, where it ranked as No. 464 among all companies included in the survey.
“Being named to the Fortune 500 is a significant milestone,” said Paul Isabella, Beacon’s President and CEO. “Our position as one of the 500 largest companies in the United States is a testament to our ability to execute our growth plans, both organically and as our industry’s leader in strategic acquisitions. This prestigious achievement is only a beginning for us, as we expect to ascend closer to the top of the Fortune 500 each year through our proven growth initiatives and industry-leading innovations like Beacon Pro+.”
The Fortune 500 ranks the 500 largest U.S. corporations by total revenue for their respective fiscal years. The 2019 list reflects annual results for the most recent fiscal year ending prior to January 31, 2019. According to Fortune, “Companies are ranked by total revenues for their respective fiscal years. Included in the survey are companies that are incorporated in the U.S. and operate in the U.S. and file financial statements with a government agency. This includes private companies and cooperatives that file a 10-K or a comparable financial statement with a government agency, and mutual insurance companies that file with state regulators.”
“Becoming part of the Fortune 500 speaks to the enduring passion and dedication of our employees, and our commitment to helping our hardworking customers save time and grow their businesses,” said Eric Swank, the Company’s COO. “The energy and momentum from this achievement will continue to drive us towards our exciting future.”
First Solar, Rocky Mountain Power to Deliver Clean Energy for Facebook Data Center
-122MWAC Cove Mountain 2 project in Utah to support Facebook’s 100 percent renewable energy goals
-Series 6 modules: Cove Mountain 2 will be powered by high-performance Series 6 modules, manufactured by First Solar in the United States.
First Solar, Inc. (NASDAQ: FSLR) today announced that its Cove Mountain 2 solar power plant will support Facebook’s Eagle Mountain Data Center in Utah, through a Power Purchase Agreement (PPA) with Rocky Mountain Power, a division of PacifiCorp and part of Berkshire Hathaway Energy.
The 122-megawatt (MW)AC facility will be built near the town of Enterprise in Iron County, Utah, and is scheduled to begin operations in 2020. It will be constructed near the 58MWAC Cove Mountain power plant, which was announced in 2018 and will also supply renewable energy for Facebook’s operations. Cove Mountain 2 will supply clean solar energy to Facebook under the Schedule 34 Renewable Energy Tariff, which enables customers to work with Rocky Mountain Power to meet their renewable energy goals by facilitating the construction and contracting of new renewable energy projects.
“This project is an important part of our commitment to support all of our data centers and offices with 100 percent renewable energy in 2020,” said Paul Clements, Director of Energy and Infrastructure at Facebook. “Our data centers are among the most water- and energy-efficient facilities in the world. Working with First Solar and Rocky Mountain Power allows us to ensure that our data center will be supported by new renewable energy resources – like this solar power plant – in the same electrical grid as our data center.”
“Rocky Mountain Power continues to develop creative ways to help individual customers such as Facebook meet their sustainability goals while keeping rates low and reliability high for all of our customers. Combining First Solar’s project development and technology expertise with over a hundred years of Rocky Mountain Power’s utility experience, allows us to create value for Facebook by enabling its commitment to support its operations with 100 percent renewable energy,” said Gary Hoogeveen, President and CEO of Rocky Mountain Power.
Once operational, Cove Mountain 2 is expected to generate electricity that is equivalent to the energy needs of 36,000 average Utah homes, while displacing 235,000 metric tons of Carbon Dioxide annually, equivalent to removing 46,000 cars from the road. It will also save 800 million liters of water annually, based on Utah averages.
“Cove Mountain 2 demonstrates the ability of utility-scale solar to power corporate renewable energy ambitions effectively,” said Karl Brutsaert, Senior Director of Corporate Renewables at First Solar. “Combining the commercial and environmental efficiencies of utility-scale solar with a green tariff PPA model allows companies like Facebook to meet their decarbonization commitments while making smart economic decisions. As a global leader in corporate solar, we’re proud to be a driver of this trend.”
The project will be powered by high-performance Series 6 modules, manufactured by First Solar in the United States. First Solar expects to begin construction in late-2019 and estimates that Cove Mountain Solar and Cove Mountain 2 Solar will generate approximately 450 construction jobs on average, and up to 1,100 jobs at the peak of activity.
“Cove Mountain and Cove Mountain 2 demonstrate Utah’s ability to attract new long-term business partners to the State through Rocky Mountain Power’s green tariff initiative. Iron County’s decision to incentivize solar development in portions of rural Utah has positioned it as a leader in solar energy and will generate several million dollars in tax revenues for the county,” said Kathryn Arbeit, Vice President of Project Development for First Solar. “As an American solar manufacturer, we are proud to be playing a role in generating jobs and enabling a local resource pool of professionals skilled in constructing utility-scale solar power plants here in Utah.”
As discussed earlier, one of the fastest growing cultivation markets in the world, Cannabis, is spurring a massive technological leap in regards to efficiency and automation. As part of this efficiency, large grower buildings provide a perfect rooftop location for solar. Canada has some of the ‘sunniest’ places on earth, perfect for solar and cannabis growth. Keep as eye open as these 2 sectors continue to find more synergy.
Aurora Cannabis Selected as Sole Winner in Italian Cannabis Tender
Secures Two-Year Contract to Continue to Supply Italy with high-quality medical cannabis
Aurora Cannabis Inc. (“Aurora” or the “Company”) (NYSE: ACB) (TSX: ACB), the Canadian company defining the future of cannabis worldwide, announced today that the Company has been selected as the only winner of the Italian government’s public tender to supply medical cannabis in Italy. The supply contract is expected to be signed in September 2019.
The tender saw five companies participate, with Aurora selected as the sole winner of three lots to supply the Italian market, which is one of the most strictly regulated medical cannabis markets in the world. The decision will see Aurora continue to supply the Italian market with medical cannabis, as it has done for the past 15 months, further to winning the first ever tender there in January 2018. All submissions from competing cannabis companies were disqualified because they were unable to meet the stringent requirements of the tender.
Aurora will supply a minimum of 400 kg of medical cannabis over the two-year contract with the cannabis coming from its Canadian EU GMP certified facilities and imported to Italy through Aurora Deutschland, its wholly-owned European subsidiary. The cannabis will be sold to Agenzia Industrie Difesa (an agency of the Italian Ministry of Defense) for distribution to local pharmacies, who dispense directly to patients.
“We’re committed to building a successful, long-term medical cannabis market in Italy,” said Neil Belot, Aurora’s Chief Global Business Development Officer. “We want to continue to build our connection with patients and pharmacies in the Italian market, who have come to know and appreciate our products over most of the past two years. I’m extremely proud of our team. This win reflects our ability to navigate complex international regulations and work with governments around the world to establish ourselves as a trusted partner.”
Axel Gille, Managing Director of Aurora Deutschland GmbH, added, “The well-being of our patients is our top priority and we’re dedicated to ensuring they have access to a consistent supply of safe, high-quality medical cannabis. We look forward to expanding our presence in Italy and continuing to work with other international regulators to ensure patients around the world have access to our high-quality medical cannabis.”
A number of years back, governments tried to push solar, but the technology, cost and efficiency just wasn’t there. Fast forward to 2019 and the key components are now in place for ‘phase 2’ of solar’s growth. We are now entering the pivoting year for rooftop solar and cannabis facilities, the time to take advantage of companies like Solar Integrated Roofing Corp (OTC PINK:SIRC) that have positioned themselves very well ahead of this sought after exponential market growth is now, before the growth ramps up.
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