Phoenix, Arizona–(January 5, 2024) – SinglePoint Inc. (CBOE: SING) (“SinglePoint” or “the Company”), a provider of renewable energy, energy supply, and healthy building solutions, provides an update highlighting 2023 accomplishments and its plans to increase shareholder value in 2024.
After successfully listing on the CBOE BZX Exchange in December, SinglePoint enters the New Year fundamentally and operationally strong to accelerate its well-developed acquisition strategy in the renewable energy sector, specifically emphasizing its intent to roll up sector companies, including national premier solar installation businesses specializing in Engineering, Procurement and Construction (Solar EPC’s) that provide accretive deliverables.
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SinglePoint completed its first acquisition in April of 2022, acquiring regional solar industry powerhouse Boston Solar, a company well regarded as a proud and contributing partner of the Boston Red Sox. That deal, in part, has fueled a roughly 41% revenue increase from approximately $17 million to $24 million at the end of FY/2022. The Company expects growth to continue in FY/2023, evidenced by trailing twelve-month revenues already eclipsing the $30 million mark. This increase comes despite challenging market conditions, including supply chain issues and elevated interest rates, which are expected to moderate this year, according to recent sector analyst reports.
Wil Ralston, CEO of SinglePoint, said, “We are extremely proud of our team that showed resiliency and abilities to navigate the significant solar industry headwinds of 2023. Now that we are listed to a more senior exchange, we are better positioned than ever to execute our 2024 strategy to add value to our asset portfolio by capitalizing on aggressive acquisition-based valuations in excellent companies that can provide immediate value and create new revenue streams. Because of the uplist to the CBOE market, we believe we can accelerate that plan, noting that national and even global companies are more likely to partner with listed companies.” He added, “We have successfully removed our number one barrier to making what could be transformative-sized deals, which we are poised to execute with extreme efficiency and pace, an intent supported by SinglePoint being the first U.S.-listed company on the CBOE BZX market. We believe it is no coincidence that less than three weeks after that inaugural listing, Boston Solar struck a partnership deal with one of the world’s largest and most well-known battery and energy solutions companies, Energizer Solar. That deal alone can expand Boston Solar’s business footprint to a national scale.”
This week, CEO Wil Ralston appeared live on ABC’s Morning Blend, where he overviewed SinglePoint’s strategy to target diversified solar, energy, and clean air market opportunities through his company’s diversified products and services portfolio.
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Furthermore, the Company notes establishing multiple initiatives for 2024, including potential market expansions, accretive acquisitions, and industry partnerships. These will be detailed more clearly in near-term company updates and planned presentations.
In summary, the Company has completed the groundwork to expand its teams across SinglePoint and Boston Solar, drive more organic commercial and residential solar business at Boston Solar, increase revenue and bottom-line profitability, and continue executing its robust acquisition strategy.
About SinglePoint Inc (SING)
SinglePoint Inc., the first-ever U.S.-listed Company on CBOE Global Markets BZX Exchange, is a renewable energy and sustainable lifestyle company focused on providing environmentally friendly energy efficiencies and healthy living solutions. SinglePoint is focused on building the largest network of renewable energy solutions and modernizing the traditional solar and energy storage model. The Company is also actively exploring future growth opportunities in air purification, electric vehicle charging, solar as a subscription service, and additional energy efficiencies and appliances that enhance sustainability and healthier life. For more information, visit the Company’s website (www.singlepoint.com) and connect on social media for the latest updates.
About Boston Solar
Boston Solar is a subsidiary of SinglePoint Inc. (CBOE: SING). Since its founding in 2011, Boston Solar has installed more than 5,000 residential and commercial solar arrays, powering thousands of homes and businesses in New England, primarily in Massachusetts. Boston Solar’s mission is to provide superior clean energy products, exceptional customer service, and the highest-quality artistry in residential and commercial installations.
Boston Solar has accumulated several distinctions of recognition of the Company’s outstanding triumphs:
Honored with the 2020 Guildmaster Award from GuildQuality, the award acknowledged how Boston Solar demonstrated exceptional customer service within the residential construction industry.
Named a Top Solar Contractor by Solar Power World magazine for five consecutive years.
Applauded by the Boston Business Journal’s “Largest Clean Energy Companies in Massachusetts” list.
Boston Solar is a member of the Solar Energy Business Association of New England (SEBANE). The Company is headquartered at 55 Sixth Road, Woburn, MA 01801. Learn more at: www.bostonsolar.us
Certain statements in this news release may contain forward-looking information within Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. All statements, besides statements of fact included in this release, including, without limitation, statements regarding revenue projections, financing opportunities, potential plans and objectives of the Company, anticipated growth, and future expansion, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Technical and other complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
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