Solar Acquisition News: SinglePoint Completes Asset Purchase Acquisition with Direct Solar in SinglePoints Largest Deal to Date
Phoenix AZ - May 14, 2019 (Investorideas.com Newswire) SinglePoint Inc. (OTC:SING) announces the successful completion of the Asset Purchase Agreement with Direct Solar and AI Live Transfers dated February 22, 2019. Direct Solar is the largest acquisition to date for SinglePoint and instantly puts the company squarely into the renewable energy markets. According to Hexa Research the solar market is expected to reach 20.09 Billion USD by 2025. Direct Solar provides a Lending Tree/Rocket Mortgage way for customers to asses and purchase solar. This model allows for the company to scale quickly and efficiently throughout the United States and globally.
"This acquisition will securely place SinglePoint on a new path towards growth, revenue and overall profitability. We believe Direct Solar has the people and ability to scale beyond initial projections and truly make a impact on SinglePoints goal of getting a NASDAQ or NYSE. We believe in the following 12 months from the date of the acquisition revenues will be in the multiple million along with profitability. This acquisition is a new opportunity and puts SinglePoint on a whole new trajectory path," states Greg Lambrecht CEO of SinglePoint.
Video Introducing Direct Solar - https://www.youtube.com/watch?v=jl0u8eZpUrI&t=1s
"We are excited to officially be a part of SinglePoint. The access to growth capital will allow us to scale quickly and turn the processes we have built into revenue generating opportunities. We signed over 500,000 dollars of contracts in April with very little marketing a sales budget. With the back and support of SinglePoint we believe we can exponentially increase our sales pipeline," states Pablo Diaz Founder/CEO of Direct Solar.
Recently in an article posted by CleanTechnica CEO Abigail Ross-Hopper went on to comment, "The rapid growth in the solar industry has completely reshaped the energy conversation in this country," said Abigail Ross-Hopper, SEIA president and CEO. "This $17 billion industry is on track to double again in five years, and we believe that the 2020s will be the decade that solar becomes the dominant new form of energy generation."
Direct Solar has seen tremendous growth over the past year which aligns well with the industry over all. In Q4 2018, the U.S. solar market installed 4.2 GWdc of solar PV, a 139% increase from Q3 2018 and a 4% increase from Q4 2017. This is attributed to environmental awareness and the overall cost of solar becoming affordable for customers.
Solar is a massive opportunity both locally and globally. Locally the concept of community solar panel system is gaining popularity in the U.S. and globally the market is expected to reach 100 gigawatts.
Above and beyond residential solar, SinglePoint has been in discussions and contact with companies that are interested in utilizing solar to increase power efficiencies for their cannabis cultivation. SinglePoint believe there is a major opportunity to marry cannabis and solar to help decrease costs and decrease the overall energy intensive indoor cultivation of cannabis.
About SinglePoint, Inc.
SinglePoint, Inc (SING) is a technology and investment company with a focus on acquiring companies that will benefit from the injection of growth capital and technology integration. The company portfolio includes mobile payments, ancillary cannabis services and blockchain solutions. Through acquisitions into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base. Through SingleSeed, the company is providing products and services to the cannabis industry.
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