Shining A Light On One Of The Fastest-Growing Companies In Solar Energy Space On The OTCQB

Governments worldwide are finally injecting serious funding into renewable energy, and consumer demand is seemingly shifting toward sustainable and healthier solutions. Now, an industry of hundreds of smaller, local players could see intense competition over the next few years. 

That’s why SinglePoint Inc. SING says it has been leveraging an aggressive acquisition and partnership strategy to build a nationwide renewable energy network. This pairs with their goal of providing healthy living solutions with a current focus on solar energy and air purification. With a large-scale network and a synergistic portfolio of products and services that offer tons of opportunities for cross-selling, SinglePoint reports that it is increasing rapidly and ready for the competition.

SinglePoint’s Gamble On A Sustainable Future Could Pay Off Big This Year

While the Company has not achieved profitability yet, it’s been using capital raised from stockholders and other sources to fund an acquisition and partnership strategy that is starting to yield results. 

The Company has acquired five subsidiaries, including Energy Wyze, BOX Pure Air, Direct Solar America, Ecodaptive, and Boston Solar. In addition, the Company is in the process of closing the Frontline Power Solutions acquisition.

SinglePoint achieved $1.5 million in revenue reported in the first quarter of this year. That represents a 650% growth over the $239,000 in revenue it reported in the first quarter of 2021. 

That’s just the start of what SinglePoint described as a breakout year for the Company. BOX Pure Air, for example, accounted for nearly all of the Company’s first-quarter revenue, and it’s expected to generate $10 million to $12 million for SinglePoint by the end of 2022. 

As an approved supplier of air purifiers under the U.S. Department of Education’s Emergency Assistance to Non-Public Schools (EANS) program, BOX Pure Air received a $5 million award, with deliveries slated to start in the third quarter.

Launched in 2021 with an initial budget of $2.75 billion, EANS is meant to help eligible non-public schools around the country fund health and safety upgrades. Ranging from improving indoor air quality to providing personal protective equipment (PPE) and everything in between.

In addition to the anticipated BOX Pure Air revenue, SinglePoint is targeting another $25 million from The Boston Solar Co. this year, a recent acquisition with a multimillion-dollar backlog of solar and energy storage projects.

While the Company is still pursuing acquisitions, SinglePoint has also reported planning to use the projected revenue from 2022 to invest in its subsidiaries to grow that revenue further and leverage the existing synergies. 

In June, for example, SinglePoint added Ecodaptive Inc. to its portfolio through the Boston Solar acquisition. The Clean Energy Company is developing the SunRAYS Energy Program in Massachusetts to empower traditionally underserved communities to benefit from solar energy without the upfront investment it usually requires.

Twenty-two states have policies to incentivize community solar programs. More than half of U.S. households cannot invest in solar because of a lack of financing, insufficient roof space, or limited sunlight to make individual solar systems viable. For those households, programs that spread the cost and share the benefits will make going solar a feasible and realistic option.

Capitalizing on national and consumer interest in community renewable energy programs, SunRAYS will use a roof-lease structure. That means homeowners won’t need to pay upfront installation costs. As an additional bonus, the homeowners will get paid through lease agreements to install solar on their rooftops.

Along with regional energy providers like Eversource Energy ES and National Grid plc NGG, the pilot program is a pioneer in solving some distribution problems holding renewable energy markets back. By installing the solar panels on the rooftops in the communities where that power will get used, fewer high-voltage interconnections and power transmitters are needed to move that energy from its source to its end user. 

Singlepoint Inc is a bright light in the solar space as one of the fastest growing publicly traded solar companies in the U.S. Based on their incredible journey over the last two years; it will be interesting to see what happens next. Under the leadership of CEO Wil Ralston and his team, this Company is said to have executed superbly on its business plan. A business plan the Company looks to continue for the foreseeable future. 

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

Featured photo by Bill Mead on Unsplash

Posted In: Partner ContentSinglePointPenny StocksEmerging MarketsMovers & ShakersMarketsTechGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.