Acquisition Strategy In EV Charging Station Industry Seen As Savvy By Investors Who See Headwinds In Startups; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Buys First Company For Dedicated EV Charging Station Division, Eyes More Acquisitions

April 07, 2021 at 07:54

Aggressive plans to build EV Charging Stations to a 500,000 unit national network in President Biden's pro-green administration are facing headwinds in costs and permitting on the local level, so expansion in EV by acquisition -- such as buying companies already in the business by firms such as Solar Integrated Roofing Corp. (OTC PINK: SIRC) -- is seen as savvy.

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. (NASDAQ: RUN), Blink Charging Co. (NASDAQ: BLNK), Tesla, Inc. (NASDAQ: TSLA), GM (NYSE: GM), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK), Spartan Acquisition Corp. II (NYSE: SPRQ). and Canadian Solar Inc. (NASDAQ: CSIQ).

Acquisition Strategy In EV Charging Station Industry Seen As Savvy By Investors Who See Headwinds In Startups; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Buys First Company For Dedicated EV Charging Station Division, Eyes More Acquisitions

The Wall Street Journal reports that while 500,000 EV Charging Stations are being sought by companies such as Tesla (NASDAQ: TSLA) and General Motors (NYSE: GM), through partnerships and build outs, anxiety by drivers over impediments to long-haul trips and a perceived shortage of too-few charging stations has Wall Street investors now cool to EV startups. Growing in EV by acquisition is seen as a much quicker way to grow, such as the strategy by Solar Integrated Roofing Corp. (OTC PINK: SIRC).

Chris Nelder, seen as an EV Station expert, told The Wall Street Journal that, utilities, new competitors, or state regulators, have made building EV startups costly and timely and building new stations from the ground up is "really slow, and really expensive. We need a whole lot more support."

Better, investors say, to acquire companies that are already in the business with real estate, engineering and other EV Charging Stations in place. That's precisely the strategy being employed by Solar Integrated Roofing Corp. (OTC PINK: SIRC). Acquisition Strategy In EV Charging Station Industry Seen As Savvy By Investors Who See Headwinds In Startups; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Buys First Company For Dedicated EV Charging Station Division, Eyes More Acquisitions.

Nelder said, "It's going to take money, it's going to take authority, it's going to take leadership and the federal government to step in." Already, the U.S. is already seen lagging China and Europe in its build out of a comprehensive EV Charging Station structure. Acquisition Strategy In EV Charging Station Industry Seen As Savvy By Investors Who See Headwinds In Startups; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Buys First Company For Dedicated EV Charging Station Division, Eyes More Acquisitions.

SIRC has founded its new dedicated EV charging station division. It has closed on its first acquisition for that division in Pacific Lighting Management or PLEMco. "Getting into EV charging was a really a big move for us." Now only has SIRC acquired the first EV Charging Station company in PLEMco. SIRC CEO David Massey told interviewers that he is seeking to acquire more in the future.

Massey added in a corporate update to shareholders recently that the company has also "applied for a U.S. Department of Energy grant, which could provide between $20-40 million in funding to help support the build-out of dedicated electric vehicle (EV) charging solutions nationwide through our various operating brands." Acquisition Strategy In EV Charging Station Industry Seen As Savvy By Investors Who See Headwinds In Startups; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Buys First Company For Dedicated EV Charging Station Division, Eyes More Acquisitions.

SIRC's Annual Run Rate Will Reach $100 Million

Solar Integrated Roofing Corp. (OTC PINK: SIRC) is focused on growing in clean energy and particularly solar and EV battery energy storage. SIRC has been on an acquisition spree and David Massey, CEO, predicted that it will raise its annual run rate to $100 million annually -- representing a monthly volume of $8-$9 million monthly. Massey said, "It doesn't mean we've done $100 million, but that we're doing $8-$9 million monthly." In the corporate update he said, "We are currently operating at an approximately $50-$60 million annual revenue run rate, which we plan to further grow to $100 million in the near-term through continued acquisitions."

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

Source: Stock Market Press

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