Solar Integrated Roofing Corp. to Acquire Future Home Power, Expected to Achieve Over $1 Million in Incremental Weekly Sales as Early as June 2021

Acquisition adds strong lead generation capabilities to the SIRC family of companies and achieves a gross margin of more than 45% over the entire customer lifecycle

EL CAJON, CA / ACCESSWIRE / May 18, 2021 / Solar Integrated Roofing Corp. (OTC PINK: SIRC), an integrated company for the installation of solar power and roof systems from a single source, today announced the signing of a binding letter of intent (LOI) to acquire Future Home Power, a distribution company for solar, roof and battery storage.

Founded in late 2020 by Jason Newby and headquartered in San Diego, Future Home Power specializes in the sale of residential, rooftop and battery storage solar panels and works with local installers to complete the on-site installation. The company expects the acquisition to have an immediate positive impact.

Future Home Power has generated over $ 7 million since its inception with 10 to 15 sales reps – since scaling to 30 with plans to reach 60 sales reps by the end of May. Management believes that based on historical performance and with the new sales force, Future Home Power can achieve incremental sales of over $ 1 million per week as early as June 2021 with a gross margin of more than 45%, a key growth driver for other SIRC subsidiaries who, once the sale is complete, can complete the contract work on site and capture the full lifecycle value of each customer.

“Future Home Power is a real riser in the solar and battery storage retail business – an order of magnitude higher in revenue of $ 7 million since its inception and projections for 2021,” said David Massey, chief executive officer of Solar Integrated Roofing Corporation . “Jason and his team have quickly built a reputation for providing their customers with a smooth and easy process for consulting and installing solar panels and battery storage.

“Jason has a strong industry background as a top regional manufacturing manager at Vivint Smart Home and brings the lead generation skills and industry experience necessary to drive rapid growth in new regions. Combined with our robust line of business operations, we believe that Future Home Power can act as our business development arm and drive a robust project flow for our installers who work for the SIRC family of companies.

The story goes on

Completion of a potential acquisition is subject to final due diligence, negotiation and execution of a final purchase agreement and any required approvals. The company expects the acquisition to have an immediate positive impact.

About Solar Integrated Roofing Corp.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) is an integrated, one-stop solar power and rooftop installation company specializing in commercial and residential real estate in the United States. The company’s wide range of solutions range from selling and installing solar energy systems, battery backup and charging stations for electric vehicles (EV) to roofing, HVAC and related electrical work. For more information, please visit the company’s website at www.solarintegratedroofing.com.

Forward-Looking Statements
All statements made in this press release that are not historical facts contain certain forward-looking statements; as that term is defined in the Private Security Litigation Reform Act of 1995 and affects potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release relates. Actual results on the specific points described in this press release, and the company’s business in general, could differ materially from those projected in such forward-looking statements. While such statements are based on the best estimates of the company’s management as of the date of this release, material differences in size, timing and other factors could result from business risks and uncertainties, including, but not limited to, the company’s dependence on third parties, general market and other factors Economic conditions, technical factors, the availability of debt capital, revenue, and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update the information contained in any forward-looking statements. This press release is not a general solicitation.

Investor Relations Contact:
Lucas A. Zimmermann
Senior Vice President
MZ North America
Main: 949-259-4987
[email protected]
www.mzgroup.us

SOURCE: Solar Integrated Roof Corp.

View source version on accesswire.com:
https://www.accesswire.com/647868/Solar-Integrated-Roofing-Corp-to-Acquire-Future-Home-Power-Expected-to-Achieve-Over-1-Million-in-Incremental-Weekly-Sales- Beginning of June 2021

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