Dalrada Financial Corporation Signs Contract with France-Based Onet Group for Heat Pump Installation in Light Industrial Facility

Rhea-AI Summary

Dalrada Financial (OTCQB:DFCO) has signed a contract with Onet Group, a global building maintenance services leader, for the purchase and installation of Dalrada heat pumps in a Spanish light industrial facility. The initial contract, valued at 260,000 euros, marks the beginning of a potentially expansive partnership. Dalrada is already in the design phase for two additional Onet client installations.

This agreement opens doors to Onet's 140 managed facilities across France and Spain, aligning with both companies' commitment to sustainability. The partnership aims to help Onet's clients meet new European efficiency and emissions standards. Revenues from this contract will be reflected in Dalrada's September quarter, potentially signaling the start of significant growth in the European market.

Positive

• Secured a 260,000 euro contract with Onet Group for heat pump installation
• Potential expansion to 140 managed facilities across France and Spain
• Two additional Onet client installations in design and engineering phase
• Revenue from the contract to be reflected in September quarter
• Partnership aligns with European efficiency and emissions standards

Negative

• None.

Initial agreement is expected to accelerate additional opportunities across multiple French and Spanish facilities, expanding Dalrada's European footprint.

SAN DIEGO, CA / ACCESSWIRE / September 12, 2024 / Dalrada Financial Corporation (OTCQB:DFCO), ("Dalrada," "the Company"), announced today that it had finalized a contract with Onet Group ("Onet"), a global leader in building maintenance services, for the purchase and installation of Dalrada heat pumps in a light industrial facility in Spain.

The initial contract, valued at 260,000 euros, will bring Dalrada's energy efficient heat pumps specifically designed for light commercial and industrial applications to a dedicated Onet client facility, with installation set to begin immediately.

Dalrada is also in the design and engineering phase of two new Onet client building installations, with accompanying contracts expected shortly.

While the planned installations represent only a small portion of Onet's 140 managed facilities-including 100 in France and 40 in Spain-the groundwork has been laid for an exciting future for Dalrada. Ultimately, the contract creates a symbiotic partnership that underscores both Dalrada and Onet's ongoing commitment to environmental stewardship and sustainable development. Revenues and initial orders from the first contract will be reflected in Dalrada's September quarter.

"Partnering with Onet gives us the opportunity to deliver advanced climate technology that will modernize and convert various facilities, allowing them to meet new European standards for efficiency and emissions," said David Pickett, Dalrada's Executive Vice President of Sales and Marketing. "Serving those areas while growing our reach is critical to our success not just in Europe, but beyond."

As a global engineering and infrastructure services expert, Onet maintains an active geographical presence in nine countries while providing service and support to over 20 countries. The group has grown consistently over the years, serving nearly 24,000 unique clients and generating a current revenue of 2.3 billion euros.

With the new contract, Dalrada has the opportunity to extend its proven sustainability benefits to a broader client base, assisting Onet in offering more environmentally-responsible solutions that empower large clients to reduce their carbon footprint and achieve their sustainability objectives much more effectively.

"This collaboration with Dalrada represents a crucial step towards helping our clients achieve their sustainability targets," said Javier Flores, Director of International Operational Performance at Onet. "By integrating Dalrada's advanced heat pumps with our engineering services, we are paving the way for more sustainable and efficient buildings," he added.

About Dalrada Financial Corporation

Dalrada Financial Corporation (OTCQB:DFCO) is a multi-national holding company that develops, manufactures, and sells a robust suite of products and services in the Clean Energy and Health Care sectors. Dalrada's core segments include Dalrada Climate Technology, which offers cutting-edge heat pump technology for industrial and residential applications, and Genefic Specialty Pharmacy, which provides end-to-end prescription services as well as patient advocacy and support.

Dalrada consistently drives innovation that delivers maximum impact, bringing increased value to its shareholders.

For more information, please visit www.dalrada.com, and follow us on LinkedIn, Facebook, Twitter, and YouTube.

About Onet Group

Founded in Marseille in 1860, the Onet Group is a France-based international engineering and infrastructure services expert that deploys innovative and responsible solutions to create healthier, safer, and more reliable environments. Through its cleaning, security, reception, logistics, airport services, engineering and nuclear services, maintenance, consulting, and sustainable real estate engineering activities, the group employs 80,000 people and generates revenues of 2.3 billion euros.

Forward-Looking Statements

Statements contained in this press release, other than statements of historical fact, particularly statements relating to cost reductions and the anticipated pre-tax savings from the cost reduction program, restructuring costs, footprint rationalization, simplifying and streamlining our operations, reducing complexity, enhancing the speed of decision-making, leveraging our sourcing capabilities and the timing of implementation and completion of the cost reduction program, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of management based on information available to us at the time such statements are made. These statements, which are generally identifiable by the use of the words "will," "believe," "expect," "intend," "anticipate," "estimate," "forecast," "project," "plan," and similar expressions, are subject to certain risks and uncertainties, are made as of the date hereof, and we undertake no duty or obligation to update them. Forward-looking statements are subject to the occurrence of many events outside the Company's control and actual results and the timing of events may differ materially from those suggested or implied by such forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the US Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.

Media contact: Michael Eslinger (meslinger@dalrada.com)

SOURCE: Dalrada Financial Corp.

View the original press release on accesswire.com

FAQ

What is the value of Dalrada's (DFCO) initial contract with Onet Group?

The initial contract between Dalrada Financial (DFCO) and Onet Group is valued at 260,000 euros for the purchase and installation of heat pumps in a light industrial facility in Spain.

How many facilities does Onet Group manage that could potentially use Dalrada's (DFCO) heat pumps?

Onet Group manages 140 facilities, including 100 in France and 40 in Spain, which could potentially use Dalrada's (DFCO) heat pumps in the future.

When will the revenue from Dalrada's (DFCO) contract with Onet Group be reflected?

The revenues and initial orders from the first contract with Onet Group will be reflected in Dalrada's (DFCO) September quarter.

What is the main purpose of Dalrada's (DFCO) heat pumps in the Onet Group contract?

Dalrada's (DFCO) heat pumps are designed to modernize and convert facilities to meet new European standards for efficiency and emissions, helping Onet's clients reduce their carbon footprint and achieve sustainability objectives.