Business
Solar Integrated Roofing Corp. Targets First EV Charging Station Acquisition, Pacific Lighting Management, Signing Binding Letter of Intent
Solar Integrated Roofing Corp. Targets First EV Charging Station Acquisition, Pacific Lighting Management, Signing Binding Letter of Intent.
About this update from Solar Integrated Roofing Corporation
[{"type":"text","content":"New Acquisition to Expand Opportunities in the Significant Government Contract MarketEL CAJON, CA / ACCESSWIRE / February 11, 2021 / Solar Integrated Roofing Corp. (OTC PINK:SIRC), an integrated, single-source solar power and roofing systems installation company, announced today that it has signed a binding Letter of Intent (LOI) with Pacific Lighting Management, Inc. ("Pacific Lighting"), a GAAP audited, diversified energy services and electric vehicle charging station solutions provider to large commercial and government customers.Since 2003, Pacific Lighting has specialized in the design and implementation of solar photovoltaic systems, energy efficiency measures and electric vehicle (EV) charging stations for both commercial and government facilities throughout the southwest. Past Pacific Lighting customers include federal, state and local governments, school districts, hospitals and large commercial clients.Pacific Lighting has several long-term (IDIQ-type) contracts with the Federal General Services Administration (GSA & GSA Fleet.) Pacific Lighting is also qualified by the U.S. Department of Energy as an ESCo (Energy Services Company.)"Our growth over the past 18 years has been phenomenal. Between our resources and existing client base, along with Solar Integrated Roofings resources and solar experience, we feel the combination is going to take both companies to new heights. The entire team at Pacific Lighting is excited to be working so closely with Mr. Massey," said Ted Hatamian, Chief Executive Officer of Pacific Lightning."Pacific Lighting is a highly respected brand and will be a transformative partnership for our company, expanding our opportunities in the significant government contract market," said David Massey, Chief Executive Officer of Solar Integrated Roofing Corporation. "Their Energy Services Company ESCo qualification is difficult to obtain and is held by just a few dozen large construction companies and a fraction of small businesses, authorizing them to enter into the often large-scale "performance contracts" with federal and local governments. Their strong relationships with government agencies, forged over 18 years of business, represent a unique, valuable opportunity for our growing portfolio of operating companies."This cash-flow positive acquisit...