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Solar And EV Charging Stations $ Federal Support In Play As Yesterday's Vote For $3.5 Trillion Infrastructure Fails, Senators Plan Negotiations For New Vote; Solar Integrated Roofing Corp. (otc pink:SIRC) Says On Track For $150 Million Volume In 2022 FY

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Jul 22, 2021 (Stock Market Press via COMTEX) -- Solar and EV Charging Station federal dollar support hangs in the balance as Majority Leader (D-NY) Sen. Schumer yesterday engineered a failed test vote on President Biden's proposed $3.5 trillion infrastructure package. Federal tax credits, grants and other financial support programs for solar and EV Charging Stations are included in the program. Not one Republican voted 'yes.' Now Senators say they are negotiating on a new vote by Monday. In green renewable energy space, Solar Integrated Roofing Corp. (OTC PINK: SIRC) recently acquired USA Solar Network. SIRC says its FY 2022 volume is on track to reach $150 million.

stockmarketpress.com features specialized coverage of related stocks in the solar, roofing, EV charging stations and battery charging energy industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sunrun, Inc. /zigman2/quotes/205021014/composite RUN +2.63% , Blink Charging Co. /zigman2/quotes/205311237/composite BLNK +1.04% , Tesla, Inc. (NASDAQ: TSLA), GM /zigman2/quotes/205226835/composite GM -0.37% , SolarEdge Technologies, Inc. /zigman2/quotes/207754270/composite SEDG +4.09% , First Solar, Inc. /zigman2/quotes/209356097/composite FSLR +0.71% , SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. /zigman2/quotes/204241548/composite ROCK +0.75% , Spartan Acquisition Corp. II (NYSE: SPRQ). and Canadian Solar Inc. (NASDAQ: CSIQ).

Solar And EV Charging Stations $ Federal Support In Play As Yesterday's Vote For $3.5 Trillion Infrastructure Fails, Senators Plan Negotiations For New Vote; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Says On Track For $150 Million Volume In 2022 FY

True to his word, Senate Majority Leader Sen. Chuck Schumer (D-NY) put the initial infrastructure Biden bill to the test. It failed in the Senate, with not a single Republican voting for it. Now, Senators say it is back to negotiating for a possible vote again on Monday. If all else fails on a bi-partisan basis, Schumer may have to resort to a single-party bill passed by reconciliation. Neither he nor President Biden wants that.

A key sticking point is the Democrats' inclusion of extra power and monies for the IRS -- in their endeavor to step up enforcement focusing on the wealthy and seeking to collect owed but unpaid taxes , officials said. Republicans say this provision will 'fall off' the proposed bill. As it stands, 10 Republican votes are needed to move the bill forward, and Schumer doesn't have them. In this uncertain environment, federal $ support for solar and EV Charging Stations are in the balance -- everything from outright grants and tax credits to funding dollars for green renewable energy initiatives.

Renewable green energy initiatives are priorities of the Biden Administration and Democrats. They agree themselves on the $3.5 trillion new spending package — combined with the $600 billion already in the bipartisan spending program -- makes for a total of $4.1 trillion. Actually, The Wall Street Journal reports yesterday that the figure is really $5+ trillion because hidden in the bill are 'temporary' infrastructure provisions not counted in the total. In time, those 'temporary' provisions will become 'permanent,' the Journal says.

As part of its commitment to green renewable energy, SIRC last week signed a purchase agreement to acquire USA Solar Network LLC, a solar energy and EV Charging infrastructure company, enabling to expand its sales by 50-100% growth or $50 million per year in incremental growth at 16% gross margins as early as FY 2022. Led by Pablo Diaz, CEO, USA Solar Network has scaled into 38 states and key markets such as Texas, Florida, Illinois, Arizona, Missouri and New Mexico.

Massey praised the accomplishments of Pablo, particularly completing more than 7,000 solar projects to date, he said, and generating over $40 million in revenue since 2018. SIRC believes the acquisition will enable it to achieve 50-100% incremental residential and commercial sales at 16% gross margins in FY 2022. Read more about USA Solar Networks here. Solar And EV Charging Stations $ Federal Support In Play As Yesterday's Vote For $3.5 Trillion Infrastructure Fails, Senators Plan Negotiations For New Vote; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Says On Track For $150 Million Volume In 2022 FY.

This week, SIRC went still further when it announced its planned acquisition by July 31, 2021 of Approved Home Pros, a multi-platform media production company with a proprietary referral service 'Pro Finder' tool offering consumers access to contractors who have passed a screening, vetting and referral service test. The transaction is anticipated to give SIRC an additional $11 million in annualized sales. It will offer leads to the SIRC family of companies while also offering the company enhanced branding and exposure to consumers. It is also part of SIRC's strategy of increasing its internally-generated or organic growth.

Solar Integrated Roofing Corp. (OTC PINK: SIRC) reported June sales reached $10+ million, including some Future Home Power (FHP) volume which was prior to its June 9 acquisition by SIRC, so it will be designation non-SIRC revenue. In total, FHP did $6+ million in June alone. David Massey, CEO of SIRC, told shareholders in his first live Q&A session that the company is now tracking towards a $150 million volume in FY 2022. His vision for later performance is for a company doing $250 million annually with a $25 million gross profit. Solar And EV Charging Stations $ Federal Support In Play As Yesterday's Vote For $3.5 Trillion Infrastructure Fails, Senators Plan Negotiations For New Vote; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Says On Track For $150 Million Volume In 2022 FY.

The transaction to buy USA Solar Network marks an important moment for SIRC -- in addition to the anticipated dramatic volume and footprint gains. David Massey, CEO of SIRC, said, "USA Solar Network has a footprint in exciting new markets that will continue to broaden our national reach -- the missing piece to the puzzle, allowing us to expand to new markets nationally with minimal cost using their existing network spanning solar and EV installation."

Massey added that USA Solar Network has built strong partnerships with key players in the solar and EV charging industries. The acquisition is expected to act as a notable growth driver for solar and EV charger installers within the SIRC family of companies who can complete the work once the sale is complete through USA Network, capturing the full lifecycle value of each customer, the Company said.

Massey said, "The acquisitions drove annual revenues to a record $17.1 million and set us on a course to achieve at least $100 million in the twelve months ended May 31, 2022. Our focus on rapidly growing, high margin acquisitions has significantly grown sales, allowed us to now capture the full lifecycle of our customers, and brought new synergies and efficiencies across the SIRC family of companies. Due to this, we expect to achieve profitability in FY 2022." Solar And EV Charging Stations $ Federal Support In Play As Yesterday's Vote For $3.5 Trillion Infrastructure Fails, Senators Plan Negotiations For New Vote; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Says On Track For $150 Million Volume In 2022 FY.

If SIRC Further Populates Its Acquisition Pipeline, The $100 Million Guidance Figure Could Grow

Massey added, "We are realizing both acquisitive and organic growth on all fronts while minimizing dilution. Looking ahead, we continue to populate our acquisition pipeline which could further grow this $100 million revenue guidance figure. I look forward to continued operational execution in the months ahead, working closely with our team to create sustainable value for our shareholders over the long-term."

That may be precisely what has happened with the purchase of USA Solar Network, which SIRC anticipates will bring $50 million in annual incremental and profitable sales to SIRC. The result is the company's tracking to $150 million in annualized sales.

Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/ .

Source: Stock Market Press

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