Solar Integrated Roofing, Inc. Anticipates $2 Million in Revenues On Exclusive Partnership with SunPower Corporation and Expansion into the Albuquerque/Santa Fe Market
Poway, California--(Newsfile Corp. - August 6, 2020) - Solar Integrated Roofing Corporation (OTC PINK: SIRC), a leading integrated solar and roofing installation company based in Southern California, is pleased to announce the Company has entered into a partnership with SunPower Corporation as a premier dealer in the New Mexico market. This partnership allows SIRC to expand into the greater Albuquerque/Santa Fe, New Mexico metropolitan area. The Company anticipates $2 Million in new revenue from this expansion in the next 12 to 18 months.
This expansion will have very little overhead as SIRC will utilize their online infrastructure and utilize its virtual sales office. The expansion into this area will provide access to approximately 1.1 Million new customers. With only 5% of the current power sourced from solar energy, the residential and commercial markets represent a prime opportunity for exponential growth. Once established, the Company plans on establishing headquarters in the Albuquerque/Santa Fe area to provide better customer service to its targeted demographic.
SunPower Corporation is a major leader in the design, production, and sales of solar solutions in the United States. Establishing this premiere dealer relationship will allow access to an established support network and provide SIRC the ability to focus on aggressive sales growth.
Dave Massey, CEO of Solar Integrated Roofing states "The timing is perfect for us to proceed with a major expansion into the Albuquerque area. Our business strategy has always been to expand beyond Southern California and become an industry leader at the national level. Of all the locations we've explored, the Central New Mexico region fits perfectly with our plans. The area gets on average 310 days of sunshine annually and presents a largely untouched market for solar energy."
Mr. Massey continued "The expansion is a result of our area-exclusive deal with SunPower Corporation which gives us a significant advantage. SunPower premier dealer status allows us to focus on what we do best: building a strong customer base in Albuquerque and beyond while continuing to seek out future expansion and acquisition opportunities. 2020 has presented us with a unique opportunity as homeowners are completing more home improvement projects during the current COVID environment. We are currently exploring five additional metropolitan areas to determine our next expansion location. We look forward to sharing more details with our shareholders as our plans continue to develop."
About Solar Integrated Roofing Corporation:
Solar Integrated Roofing Corporation is an integrated solar and roofing installation company specializing in commercial and residential properties with a focus on acquisitions of like companies to build a footprint nationally. The Company is focused on becoming a nationwide leader in green energy by employing an effective strategy for solar and roofing needs by making it cost-effective and energy-efficient. For more information please visit: www.solarintegratedroofingcorp.com
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing, and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market, and economic conditions, technical factors, the availability of outside capital, receipt of revenues 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 statement. This press release shall not be deemed a general solicitation.
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