Point Roberts, WA and Delta, BC - May 15, 2019 (Investorideas.com Newswire) Investorideas.com, one of the first investor news resources covering solar stocks releases a sector snapshot featuring SinglePoint Inc. (OTCQB:SING), Walmart, RGS Energy, Envision Solar and Northland Power discussing the rise of solar energy as large-scale industries from cannabis to car manufacturers look to utilize cleantech to offset high energy costs.
This growing importance of solar was discussed in a recent article from Solar Industry Mag. C2 Energy Capital LLC has recently executed 46 power purchase agreements and leases with Walmart Inc. to provide solar power at the retailer's operations in five states.
"These agreements represent a tangible commitment by Walmart to achieve a goal of having 50% of its operations powered by renewable energy by 2025. The solar installations will produce more than 65,000,000 kWh of renewable energy annually, enough to power nearly 5,500 homes. The projects are expected to supply approximately 10%-60% of each store's overall electricity use."
"Solar is a vital component of Walmart's expanding renewable energy portfolio," says Mark Vanderhelm, Walmart's vice president of energy. "Walmart plans to tirelessly pursue renewable energy projects that are right for our customers, our business and the environment. These planned projects with C2 Energy Capital are moving us in the right direction toward our renewable energy goals."
SinglePoint Inc. (OTCQB:SING) recently announced 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 market. According to Hexa Research the solar market is expected to reach 20.09 Billion USD by 2025. Direct Solar provides a Lendingtree/Rocket Mortgage way for customers to assess 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 the ability to scale beyond initial projections and truly make an impact on SinglePoint's 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 millions 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
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 overall. In Q4 2018, the US 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 systems is gaining popularity in the US 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 the overall energy intensive indoor cultivation of cannabis.
A recent article in Forbes discussed, in honour of Earth Day, the many sustainability questions regarding cannabis cultivation, with the two largest factors continuing to be energy consumption and waste production-two issues many cannabis companies are beginning to look into addressing as the industry attempts to reach scale.
In the article: "Theories abound on how to make cannabis production more sustainable. Independent farmers believe that the "marijuana Monsantos" that are muscling in are only going to make things perpetually more detrimental for the environment and the instability of the planet in the years to come. The lack of sustainability, vast amounts of water and electricity necessary for cultivation is the elephant in the room of any smoke session."
Cannabis, though an obvious partner with solar, looks to be the rule not the exception as a recent article in CBS discussed how as crude energy prices continue to rise, and the price of renewable energy sources like solar and wind become more efficient and cost effective, solar looks poised to have a strong year in 2019. As SinglePoint Inc. has positioned itself in both the cannabis and solar sectors through acquisitions, it is betting on the synergies to pay off.
RGS Energy (OTC: RGSE), the exclusive worldwide manufacturer of the visually stunning POWERHOUSE™ Solar Shingle System, announced that it has completed the previously announced $3.3 million registered offering of (A) 15,938,280 "Primary Units," each consisting of one share of Class A common stock, par value $0.0001, or "Common Stock," and a Series R Warrant to purchase one share of Common Stock, and (B) 1,430,141 "Alternative Units," each consisting of one prepaid Series S Warrant to purchase one share of Common Stock and a Series R Warrant to purchase one share of Common Stock. The investors paid $0.19 for each Primary Unit and $0.18 for each Alternative Unit at closing, for aggregate gross proceeds of approximately $3.3 million.
"You may recall that we mentioned during the third quarter conference call that because we started our POWERHOUSE™ business from scratch, the first few quarters would be bumpy until we could achieve an equilibrium between our demand and supply," said Dennis Lacey, RGS Energy's CEO. "Our commercial launch coincided with the historically slow season for solar system sales in the first quarter, so it has been challenging. However, we have over 250 local roofers in our system, recently won ‘Best Energy Efficient Product' award for POWERHOUSE™ at NAHB IBS, and expect to do better as we enter the historically busy season for solar system sales. Our less than expected start to 2019 made it necessary for us to raise additional capital. We appreciate the support of our shareholders."
After RGS Energy pays the placement agent fees and estimated offering expenses, RGS Energy expects to receive net proceeds of approximately $2.9 million.
Envision Solar International, Inc., (NASDAQGM: EVSI), a leading producer of unique and sustainable infrastructure products for electric vehicle charging, energy security and outdoor media, announced that the County of San Diego Operations Center featured the EV ARC™ portable, solar-powered EV charging solution at its Earth Day Outreach event.
The County of San Diego created a strong operations strategy to reduce greenhouse gas emissions produced by transportation in 2015. Its goal to explore replacing its fleet with alternative fuel vehicles and deploying charging infrastructure has been met with the adoption of electric fleet vehicles and purchase of the EV ARC™ product. Not only will it provide the County's fleet with 100 percent clean power, but the unit will also contribute to its goals of reducing their grid-tied energy usage and utilizing renewable energy. The EV ARC™ product is entirely solar-powered and grid-independent, meaning that the County will never receive a utility bill from charging their Evs. Featuring EV ARC™ at the Operations Center's Earth Day Outreach event showcased the County's commitment to investing in clean energy and the importance of transitioning from gas-powered vehicles in San Diego County.
Northland Power Inc. (TSX: NPI) announced that a final investment decision has been reached on its La Lucha solar project in the State of Durango, Mexico. Northland owns 100% of the 130 megawatts solar project which will have a total capital cost of approximately CAD $190 million.
Recent Mexican energy reforms have resulted in strong market fundamentals and created bilateral power generation and marketing opportunities, backed by growing industrial demand for power and renewable attributes. La Lucha will advance to construction while Northland's experienced development team in Mexico continues to negotiate bilateral power contracts with a range of local commercial and industrial offtakers in the market.
"The robust fundamentals of Mexico's power markets give us the confidence to build La Lucha as our first attractive investment opportunity in the country," said Javier Chavarria, Managing Director, Development for Latin America. "There is significant interest within the Mexican industrial sector to meet some of their energy needs through contracts linked to renewable power facilities like La Lucha."
"Today's decision represents an exciting step in the evolution of Northland's generation business with our first project focused on the commercial and industrial customer segment," noted Mike Crawley, President and CEO of Northland. "La Lucha is the first investment opportunity to come out of our regional development offices located in Toronto, Houston, London, Seoul and soon, Tokyo. These offices are designed to put knowledgeable, local and experienced development teams on the ground in our identified growth markets. This also represents our first step towards moving closer to the end customer in select markets to drive more accretive growth."
This article is the first in a two part series featuring SinglePoint Inc., to be followed up with a podcast interview with management that will dive deeper into the Company's recent acquisitions in the solar and cannabis industries.
For investors following cannabis stocks, Investor Ideas has also created a stock directory of publicly traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, and ASX Marijuana/Hemp Stocks
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