FOMO’S EIC PARTNERS WITH JORDAN ENERGY TO ADVANCE SOLAR PROJECTS

Rhea-AI Summary

FOMO CORP. announces a Partnership Agreement with Jordan Energy & Food Enterprises to enhance renewable energy offerings.

The collaboration aims to provide comprehensive energy management services and customized solar energy systems to customers, enhancing their energy efficiency.

FOMO’s CEO highlighted the significant business opportunities, particularly in California, as the state mandates solar technology in new constructions. This strategic alliance is expected to catalyze growth and complements FOMO's pending acquisitions of Lux Solutions and LEDF, enhancing their offerings in the renewable energy market.

Positive

• Partnership with Jordan Energy expected to enhance renewable energy offerings and energy efficiency services.
• Significant business opportunities due to California's new solar technology mandates.
• Pending acquisitions of Lux Solutions and LEDF could enhance FOMO's growth and service range.

Negative

• None.

Chicago, IL, Oct. 29, 2021 (GLOBE NEWSWIRE) -- FOMO CORP. (https://www.fomoworldwide.com/ - US OTC: FOMC) is pleased to announce its wholly owned subsidiary, the Energy Intelligence Center LLC (EIC - https://energyintelligencecenter.com/), has signed a Partnership Agreement (Agreement) with Jordan Energy & Food Enterprises, LLC. (Jordan Energy - https://www.jordanenergy.org/), a leader in solar photovoltaics (PV) system design, installation, and operations.

Partnership goals established for the Agreement provide customers energy assessments, optimized energy management services, customized renewable energy systems, and comprehensive solutions for renewable energy options that will result in efficient and effective energy operations. The EIC and Jordan Energy will also help customers identify and establish economic incentives to help building owners, developers, managers, engineers, and architects achieve their energy goals.

“The mandate of our partnership is to bring solar PV systems to customers that are economically feasible and optimized for energy efficiency” stated Bill Jordan, Founder and CEO, Jordan Energy & Food Enterprises. “The Agreement uniquely positions the companies to provide comprehensive solutions including solar energy that are designed to meet customer needs and improve the strength of their businesses for the long-term.”

In August 2021, EIC and Jordan Energy entered into a Referral Agreement that set the stage for the Partnership Agreement and commercial goals and objectives for the two companies. Multiple customer opportunities are currently under evaluation with potential substantial lifetime contract value.

Said Vik Grover, FOMO CEO: “I want to commend EIC and Jordan Energy for establishing this partnership. With the emphasis on renewable energy and efficient energy management at the State and Federal levels, especially in California which is in the process of mandating new construction and building renovations to deploy solar power technology statewide, the business opportunities are significant and should provide substantial upside for FOMO. Our planned strategic acquisitions of Lux Solutions LLC and LEDF LLC, currently in the process of closing (to be called “Smartguard Energy” as a wholly owned FOMO subsidiary), have a natural synergy with this partnership that should further catalyze growth. We are turning the page to a new chapter for FOMO. Watch what our ecosystem will do.”

About the Energy Intelligence Center LLC

The Energy Intelligence Center LLC. (EIC) is an energy services company uniquely positioned to provide energy efficiency, optimization, operations, and economic incentives for the optimization of building equipment, and management and automation systems. The EIC mission is to create client focused energy efficient building portfolios. The independence LED lighting (iLED) asset in the EIC is a professional lighting solutions company with Made in America LED lighting products, manufacturing experience, and insight.

About Jordan Energy & Food Enterprises, LLC

Jordan Energy and Food Enterprises developed its first solar project in 2009 under the leadership of founder Bill Jordan, a veteran of both the solar and agricultural industries. Jordan Energy provides comprehensive renewable energy solutions that enable customers to harness the power of the sun with the mission of empowering progress through sustainable energy. The company separates itself in the dynamic energy sector by seeking to develop long-term customer relationships based on shared values of trust and mutual respect. Today, Jordan Energy has secured over $2 million dollars in grants for its customers and completed projects across the United States totaling more than twelve megawatts of power generation with another 120 megawatts in their development pipeline. Jordan Energy is dedicated to empowering progress through sustainable energy not only in business, but also in its commitment of 10% of profits to the “Let’s Share the Sun Foundation”, which provides solar power to underdeveloped communities throughout the world.

About FOMO CORP.

FOMO CORP. is a publicly traded company focused on business incubation and acceleration. The Company invests in and advises emerging companies aligned with a growth mandate. FOMO is developing direct investment and affiliations - majority- and minority-owned as well as in joint venture formats - that afford targets access to the public markets for expansion capital as well as spin-out options to become their own stand-alone public companies.

Forward Looking Statements:

Statements in this press release about future expectations, including without limitation, the likelihood that FOMO CORP. will be able to meet minimum sales expectations, be successful and profitable in the market, bring significant value to FOMO CORP.’s stockholders, and leverage capital markets to execute its growth strategy, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law. FOMO’s business strategy described in this press release is subject to innumerable risks, most significantly, whether the Company is successful in securing adequate financing. Additionally, although the Company has announced letters of intent to acquire additional companies, there is absolutely no assurances that any such transactions will result in a completed acquisition. No information in this press release should be construed in any form, shape, or manner as an indication of the Company’s future revenues, financial condition, or stock price.

Contact:

Wayman Baker, PhD
EVP Corporate Development
FOMO CORP.
(630) 286-9560
ir@fomoworldwide.com

Sales Contact:

Geoffrey Nichols, VP of Sales
Energy Intelligence Center, LLC
Phone: ‪(323) 314-7750
Email: geoffrey@eicteam.com

Follow us on social media:
LinkedIn: https://www.linkedin.com/company/fomo-corp
Facebook: https://www.facebook.com/FOMOCORP
Twitter: https://twitter.com/FOMO_CORP
Discord: https://discord.gg/yqGGYzwJmB

FAQ

What is the recent partnership announced by FOMO CORP. with Jordan Energy?

FOMO CORP. has signed a Partnership Agreement with Jordan Energy & Food Enterprises to provide energy assessments and optimized services for renewable energy systems.

How does the partnership impact FOMO CORP.'s business strategy?

The partnership positions FOMO to capitalize on significant business opportunities in renewable energy, especially with California's new solar mandates.

What are the expected benefits of the partnership for customers?

Customers will receive customized renewable energy systems and economic incentives to improve energy efficiency and management.

What is the stock symbol for FOMO CORP.?

The stock symbol for FOMO CORP. is FOMC.

When was the partnership with Jordan Energy announced?

The partnership with Jordan Energy was announced on October 29, 2021.