Acquisitions in #Cleantech - #Stocks to Watch (OTCQB: $SING)
(NASDAQ: $ISUN) (TSX: $RNW.TO) (NYSE: $PWR) @_Singlepoint_ @isun_energy
@TransAlta @Quanta_Services
Money
Trumps #Environmentalism: Companies Expand Sustainable Footprint through
Acquisitions
Point
Roberts WA, Delta, BC –September 14, 2021 - Investorideas.com, a
leading investor news resource covering cleantech releases a special report on
the recent string of acquisitions within the renewable energy sector, from both
well-known cleantech companies and new enterprises looking for a way to cash in
on the “clean energy revolution.”
Read this article,
featuring SING in full at https://www.investorideas.com/news/2021/renewable-energy/09141Acquisitions-Cleantech.asp
Betting big on the future of cleantech, SinglePoint Inc. (OTCQB: SING), already deeply entrenched in the sector with its solar subsidiary, has expanded and diversified its portfolio with recent acquisitions.
"As a company, we are laser focused
on the continued expansion of our sustainable footprint. The network of
industry partners and providers that SinglePoint has acquired is the driving
force behind our commitment to delivering valuable solutions for better health
and living, which in turn will unlock further value creation for
stakeholders," commented Wil Ralston, Chief Executive Officer of
SinglePoint.
The Company announced
in August its forward-looking revenue guidance goals for the
Company's solar-centric subsidiaries for Q4 2021, targeting annual revenue
projections of $20,000,000 USD for the existing solar business units in FY2022.
The Company continues to target opportunities in exponentially growing markets
with significant government support within solar as the domestic market is
expected to reach $223 Billion by 2026.
"We are diligently working to
execute on collaborative revenue producing projects within our existing solar
business divisions and we believe there are significant amounts of synergistic
opportunities ahead. We expect revenues to grow throughout the remainder of
2021 and continue to increase in FY2022 with the potential to surpass
$20,000,000 in organic annual revenue next year," commented Wil Ralston,
CEO, SinglePoint. "We have built a strong foundation within our solar
business, anchored by EnergyWyze and Direct Solar America, and we intend to
execute on our previously announced strategic M&A growth plan to add scale,
incremental sales, and to broaden our footprint throughout the remainder of the
year and into 2022."
This
week the Company announced that its subsidiary company, Energy Wyze, LLC,
has launched a new AI bot technology that allows for the complete automation of
booking appointments and automated lead generation. While still having the
option for in-person interaction, interested customers are no longer required
to be in direct contact with a representative to book an appointment. This AI
technology is able to accurately gather information and coordinate an
appointment to connect each individual with the right solar provider for them,
regardless of their location.
The company also recently launched its new
website, www.singlepoint.com as well as the company’s support for clean and
healthy environments for classrooms around the nation by
hosting a give away of four Apex 2.0 AIRBOX™ units a week for
four (4) weeks. With Clean Air Day (September 7, 2021) just behind us, the
focus on what we are breathing is at the forefront of the conversation. As more
students return to in-person learning, safety concerns within the American
family have increased. SinglePoint's subsidiary, BOX Pure Air has been working
diligently to ensure it is a part of the solution.
Singlepoint’s
subsidiary, BOX Pure Air announced
orders to provide multiple units of their newest model, the
Apex 2.0, to a school in North Carolina. Large spaces in schools used to be
either too difficult or too expensive to properly filter. The Apex 2.0 was
designed and built specifically to provide air filtration and ventilation to
address the needs of schools outside of the classroom. The Company is currently
having multiple active and repeat discussions with several schools in its
pipeline.
From the news: Poor Indoor Air
Quality (IAQ) can be the cause of headaches, lead to fatigue and can enhance
allergies and asthma beyond the current crisis of Covid. The Apex 2.0 improves
the air quality indoors where students and teachers spend more than one
thousand hours a year of their time on average. In fact it is estimated that
people spend nearly ninety percent of our time indoors. Covid-19 has brought
into focus the absolute need for improvement of IAQ as we now look to create
indoor safe environments that provide increase protection against pathogens and
highly contagious airborne viruses, especially in schools.
"Federal
funding, in excess of $190 Billion has been allocated for schools across the
nation specifically to be used for improving air quality. While there is no
single thing a school or facility can do to eliminate all potential risks, it
is clear air purification and ventilation is a major contributor in reducing
the potential spread of the virus. “
iSun,
Inc. (NASDAQ: ISUN), a
leading solar energy and clean mobility infrastructure company with 50-years of
construction experience in solar, electrical and data services, and
SolarCommunities Inc. recently announced that
they have entered into a definitive agreement pursuant to which a subsidiary of
iSun will acquire SunCommon, in a combination of cash and shares of Common
Stock.
From the news: The transaction
executes phase one of iSun’s recently announced East Coast residential strategy
and builds on iSun’s commercial, industrial and utility-scale presence in
Maine, New Hampshire, Vermont, Connecticut, Massachusetts, Rhode Island, New
York, Maryland, North Carolina and South Carolina. The acquisition furthers
iSun’s ability to both drive the transition from dirty to clean energy and
capitalize on the increasing focus on the climate crisis. The combined
organization generated net revenues of approximately $51.4 and $70.0 million in
calendar years 2020 and 2019, respectively
Quanta
Services, Inc. (NYSE:
PWR),
delivering comprehensive infrastructure solutions for the utility,
communications, pipeline and energy industries is participating in the sector
through acquisition. The Company recently
announced that it has entered into a definitive agreement to
acquire Blattner Holding Company, one of the largest and leading utility-scale
renewable energy infrastructure solutions providers in North America. Founded
in 1907 and headquartered in Avon, Minnesota, Blattner provides front-end
engineering, procurement, project management and construction services to
leading renewable energy developers for wind, solar and energy storage
projects. Through its geographically and technologically diverse capabilities,
Blattner has completed or been awarded more than 300 wind projects (+49 GW
installed generating capacity), more than 90 solar projects (+12 GW installed
generating capacity) and 17 energy storage projects. Over the last several
years, Blattner has achieved double-digit organic revenue and profit growth by
leveraging its operational expertise and collaborative customer relationships.
Blattner generated full-year 2020 revenues and adjusted EBITDA (a non-GAAP
measure) of approximately $2.4 billion and $291 million, respectively. The
consideration to be paid at closing for the transaction is approximately $2.7
billion.
TransAlta
Renewables Inc. (TSX:
RNW)
following a similar path, recently
announced that it has entered into definitive agreements for the
acquisition of a 122 MW portfolio of operating solar facilities located in
North Carolina (collectively, "North Carolina Solar").
The assets will be acquired from a
fund managed by Copenhagen Infrastructure Partners for US$96.65 million,
subject to working capital adjustments and the assumption of existing tax
equity obligations. The acquisition will be funded using existing liquidity.
Income distributions to the Company will be net of cash and tax attributes
provided to the tax equity investor. The acquisition is subject to customary
regulatory approvals and is expected to close in the fourth quarter of 2021.
The transaction is structured so that at closing, TransAlta Renewables will
acquire a 100% economic interest in North Carolina Solar from a wholly-owned subsidiary
of TransAlta Corporation through a tracking share structure.
"This purchase marks an
important and significant expansion of our solar footprint in the United States
and is a natural fit for TransAlta Renewables given our focus on diversified, highly-contracted
cash flows from strong counterparties," said Todd Stack, President of
TransAlta Renewables. "The acquisition further strengthens our expertise
in solar energy and adds a new, high-quality customer in a region where we see
significant opportunities for solar growth. We are excited to continue along
our path of expanding our position as a market leader in clean renewable
electricity."
The North Carolina Solar portfolio
consists of 20 solar photovoltaic facilities across North Carolina, with an
aggregate capacity of 122 MW. The facilities are all operational and were
commissioned between November 2019 and May 2021. The facilities are secured by
long-term power purchase agreements ("PPAs") with two subsidiaries of
Duke Energy ("Duke"), which have an average remaining term of 12
years. Under the PPAs, Duke receives the renewable electricity, capacity, and
environmental attributes from each facility. North Carolina Solar is expected
to generate an average annual EBITDA of approximately US$9 million and average
annual cash available for distribution ("CAFD") of approximately US$7
million.
The solar market is poised for long
term sustainable growth. Homeowners continue to look for ways to utilize solar
and establish energy independence. With varying weather events happening across
the US, solar, battery backup and creating an emergency backup system is a high
priority among many consumers. Additionally, going solar continues to make
economic sense reducing a homeowner’s monthly utility expense in many cases. In
addition to consumer awareness, the federal government and industry are
constantly looking for ways to create operational efficiencies such as
universal permitting, easing supply chain roadblocks and overall, providing
ways to continually decrease the cost of implementing renewable energy systems
at the residential and commercial levels.
From clean energy to clean air, as
we see a growing interest and awareness from both government and citizens, we
can expect to continue to see similar acquisitions and growth within the sector.
Companies from all sides of industry will look to ensure they haven’t missed
the boat on the booming cleantech trend. For companies that are already
positioned and know the market and customer base, acquisitions will play a key
role in building out revenue for shareholders.
As the Economist recently
said, “Wall Street giants and corporate titans are betting
on climate innovation”
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