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The steady growth of the renewable energy sector has fueled the country’s clean energy revolution in recent years. Lately, major players in the industry have been addressing the growing need for green energy, and Solar Integrated Roofing Corporation (OTC: SIRC) is one of them.
Solar Integrated Roofing provides single-source solar power, roof systems, and EV charging installations, with a focus on residential and commercial properties. Talk to AlphaStreetCompany CEO George Holmes said market conditions for residential, small commercial, and EV businesses remain strong. Read the full interview:
With Form-10 registration, you are one step closer to becoming a fully reporting company. When is the NASDAQ uplisting expected?
The filing of the Form 10 registration statement, and the filing of the first quarterly report on Form 10-Q, are important milestones in the multi-pronged effort to provide greater transparency and accountability to shareholders. Our transition to a fully reporting company with the SEC brings a new level of credibility to SIRC, with the aim of attracting more sophisticated and institutional investors.
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We will have a stepping stone for OTCQB or OTCQX while strengthening the management team, improving the composition of the Board of Directors, increasing profitability, and analyzing market conditions. After the new team has completed the business evaluation, financial statements, and the refined comments on the Form-10 received from the SEC, we will begin planning the Nasdaq listing, which we believe should happen in 2023. The Nasdaq listing will bring additional liquidity and expand the shareholder base through an enhanced profile in the investment community.
Do you expect this year’s rapid revenue growth to translate into consistent profits in the coming quarters?
As a new executive team a few short weeks to our appointment, it is too early for us to start forecasting what will happen in 2023. That said, we can report that the market situation driving home, small commercial, and EV business continues to remain strong. We have an excellent team that is laying the foundation for consistent profitability for years to come.
How do you see macro pressures and inflationary pressures, which could be short-term obstacles to growing your business?
In fact, we’re seeing the opposite, with rising energy prices and government incentives prompting consumers everywhere to consider going solar. As energy prices rise, more consumers are empowered to take control of their electricity bills and protect against blackouts with clean energy. Combined with the spread of net metering — paired with various federal, state, and utility-level incentives for clean energy — there is a significant push for consumers to transition to solar, battery backup, and EV charging. We believe that we have demonstrated success so far, and in our opinion, we have only scratched the surface of SIRC’s potential.
What is your strategy for the EV charging business, considering the ever-increasing EV market and government funding?
Electric vehicle charging is a large and growing market with several national players on the installation side of the business. One of its subsidiaries is one of only 16 companies awarded a 5-year Blanket Purchase Agreement from the General Services Administration (GSA) as part of the $5B in federal funds allocated for EV charging installations in the Biden Infrastructure Bill. These stations are set to increase the widespread adoption of electric vehicles by consumers and fleets by providing charging stations on the interstate system and addressing current service gaps. We believe a potential portion of the $5B in federal EV charging funds alone could generate hundreds of millions in revenue for us over the course of the program.
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What are your long-term goals to expand your product portfolio and expand into new markets?
Long term, we are committed to being a vertically integrated single source solution provider for solar, rooftop and EV charging systems. This will allow us to achieve value in all aspects of our business as well as aggressively develop large-scale commercial projects, microgrids, and project financing. We are assembling the team needed to take the SIRC family of companies to the next level, forming a truly national organization with the ability to scale. I look forward to seeing what 2023 holds for our growing company.
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