Solar Integrated Roofing Corp. (Otc Pink: Sirc) Signs Agreement To Supply Solar Panels And Related Equipment To Electric Tractor Manufacturer Solectrac, Inc., Applicant Of $500 Million Ustda Grant
Solar Integrated Roofing Corp. (OTC PINK: SIRC) announced today (December 8, 2020) that it has signed an agreement to provide solar panels, related equipment and installation with electric tractor manufacturer and developer Solectrac, Inc., an applicant of a $500 Million USTDA (United States Trade And Development Agency grant). SIRC will supply electric storage, solar panels and other power devices and installation services to Solectrac's existing and grant projects, where applicable. It also calls for the same services by SIRC to Solectrac's future customers and grants projects.
stockmarketpress.com features specialized coverage of related stocks in the solar, roofing 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), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPowerCorp. (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK) and Canadian Solar Inc. (NASDAQ: CSIQ).
Solar Integrated Roofing Corp. (OTC PINK: SIRC) Signs Agreement To Supply Solar Panels And Related Equipment To Electric Tractor Manufacturer Solectrac, Inc., Applicant Of $500 Million USTDA Grant
Expansion into the $75 billion global agricultural equipment market, provides another revenue stream for Solar Integrated Roofing Corp. (OTC PINK: SIRC). This industry, primarily diesel powered today, is seeking to operate on alternative powered tractors to reduce pollution with sustainable electric-powered tractors. Solectrac, Inc., located in Northern California, has developed and manufactured 100% battery powered, all-electric tractors for agriculture and utility operations.
As of October 22, Ideanomics (NASDAQ: IDEX) became a 14.7% owner of Solectrac, Inc. Ideanomics also announced another planned investment into the company of $1.3 million, scheduled to close this month.
Solectrac, Inc. is an applicant for a $500 million USTDA grant. The USTDA is an independent agency of the United States government. It is seeking to expand its share of their market opportunities by developing a 70 HP-equivalent utility model and a 40 HP row crop model, the company said. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Signs Agreement To Supply Solar Panels And Related Equipment To Electric Tractor Manufacturer Solectrac, Inc., Applicant Of $500 Million USTDA Grant.
SIRC Melding Its Solar Technology With Solectrac's Farming Equipment
David Massey, CEO of Solar Integrated Roofing Corp. (OTC PINK: SIRC), said, "Melding our solar technology with Solectrac's farming equipment will bring significant growth and benefit to this multi-billion-dollar industry. We look forward to working with Solectrac, bringing much needed efficiency and savings to the strained agricultural markets."
Steve Heckeroth, CEO of Solectrac, added, "Signing an agreement with Solar Integrated Roofing provides us with the missing component: sustainable efficient and off-grid electrical systems to power our tractors. We'll now be able to supply complete systems across the globe, regardless of the power grid connectivity or lack thereof, while reducing the equipment costs for our clients."
SIRC Adds To Its Multiple Revenue Streams As It Grows
On an aggressive growth campaign with acquisitions and entry into new and related business industries, SIRC is entering sales and installation of HVAC, it also signed a joint venture with Enerev, LLC, and a third is its recent announcement that it will enter the new home market in an agreement with several San Diego, California builders to install solar roofing and systems. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Signs Agreement To Supply Solar Panels And Related Equipment To Electric Tractor Manufacturer Solectrac, Inc., Applicant Of $500 Million USTDA Grant.
Additionally, SIRC is now cross-selling of solar energy batteries. It sells and is a certified installer of the Tesla (NASDAQ: TSLA) solar roofs and Powerwall line of lithium-ion solar batteries. It recently joined Tesla (NASDAQ: TSLA) again when it announced its entry into the EV Charging Station market, for both residences and commercial. It is also expanding its footprint into more states out of its home base in California. It has entered New Mexico in partnership with solar installer SunPower Corporation as its premier dealer.
SIRC Goals: Market Up List, Larger National Footprint And Expansion Into more Fast-Growth Related Businesses
SIRC projects that its volume will report a record breaking $40+ million in fiscal 2022 revenues, ending February 28, 2022. Solar Integrated Roofing Corp. (OTC PINK: SIRC) forecast that it would report record volume of $20 million for FY 2021, ended February 28, 202.
A Perfect Storm Of Solar Opportunities
Solar Integrated Roofing Corp. (OTC PINK: SIRC) is thriving in a perfect storm of solar opportunities and has its eyes on a national footprint and an up listing to the NASDAQ SmallCap stock exchange. Solar Integrated Roofing Corp.'s (OTC PINK: SIRC) Sales Projected To Reach $38.5 Million In FY 2022, $90 Million In FY 2023 At Substantial Positive Profit In Both Years; $0.25 Price Target Set For 3-6 Months: Goldman Small Cap Research.
Learn more about Solar Integrated Roofing Corp. (OTC PINK: SIRC) at its website.
Source: Stock Market Press
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