SinglePoint Acquires Frontline Power Solutions, a Multi-State Licensed Energy Services Company

Rhea-AI Summary

SinglePoint (OTCQB: SING) has acquired Frontline Power Solutions, enhancing its position in deregulated energy markets. This strategic acquisition grants access to an extensive client portfolio and aligns with the growing trend in energy efficiency, backed by a federal allocation of $350 billion. Frontline operates in nine states with pending approvals in twelve more, enabling the provision of Energy Supply Agreements and energy consulting services to various commercial sectors. The merger aims to capitalize on expected market revenues of $9 billion across 26 U.S. states, fostering opportunities for both companies.

Positive

• Acquisition of Frontline Power Solutions expands client base and service offerings.
• Access to deregulated energy markets is expected to drive revenue growth.
• Synergies from combining services may enhance operational efficiencies.

Negative

• None.

• Strategic Acquisition Expands Access to Deregulated Markets
• Federal Government Allocates $350 Billion Towards Energy Efficiency Improvements in Commercial Buildings

PHOENIX, Aug. 10, 2022 /PRNewswire/ -- SinglePoint, Inc. (OTCQB: SING) ("SinglePoint'' or "the Company''), an acquisition-focused solar energy and sustainable solutions provider, announced today the acquisition of Frontline Power Solutions, a Multi-State Licensed Energy Services Company (ESCO).

Frontline Power Solutions (FPS) is a comprehensive energy service Company with the ability to operate in deregulated markets across the country. Frontline Power is licensed in nine states and has applied for and is awaiting final approval in 12 additional states. Frontline provides Energy Supply Agreements to all sizes of commercial, industrial, and institutional properties. In addition to supplying direct agreements, FPS also lends its expertise to its clients to help reduce energy consumption, streamline energy portfolios, and offer other options to lower energy costs.

The strategic acquisition provides SinglePoint with access to an extensive portfolio of clients while giving those FPS clients reciprocal access to one of the nation's leading solar power solutions companies and best-in-class customer service.

Wil Ralston, CEO of SinglePoint, said, "Frontline Power Solutions is a great addition to SinglePoint. Frontline will round out our service offerings by providing tremendous opportunities in the deregulated energy markets. Through Energy Service Agreements or assistance with installing a client's solar system, SinglePoint can now assist thousands of commercial clients in their solar transition."

John Holmes, Founder & CEO of FPS, said, "Our focus has been supplying commercial energy contracts to large and small commercial, industrial, institutional, and property management firms. We facilitate substantial reductions in energy consumption and spending while streamlining logistical management of their energy portfolios. By joining SinglePoint, our two companies benefit from economies of scale and monetizing opportunities more efficiently and quickly."

The FPS purchase is just the latest in SinglePoint's acquisition strategy, bringing a growing collection of solar providers and energy solutions under one corporate umbrella. SinglePoint has acquired six (6) subsidiaries, including EnergyWyze, BOX Pure Air, Direct Solar America, Ecodaptive, Boston Solar, and Frontline Power Solutions.

There are currently 26 U.S. states that offer deregulated power options which are expected to reach $9 Billion in annual industry revenues.

About Frontline Power Solutions

Frontline Power Solutions (FPS) is a comprehensive energy solutions Company. They are equipped with industry experts who have been on the "frontline" of energy procurement, sales, marketing, analysis, and information technology in the power industry since the dawn of deregulation. The combined intellectual and leveraged resources translate to unmatched value to their customers. FPS provides full-service power supply solutions, including supply, billing, auditing, renewable energy supply, efficiency consulting, and incentive coordination for large or small enterprises.

About SinglePoint Inc (OTCQB: SING)

SinglePoint Inc.(www.singlepoint.com) is a renewable energy, and sustainable lifestyle Company focused on providing environmentally friendly energy efficiencies and healthy living solutions. SinglePoint is initially 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 a healthier life. For more information, visit the Company's website (www.singlepoint.com) and connect on social media for the latest updates.

Forward-Looking Statements

Certain statements in this news release may contain forward-looking information within tRule 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.

Investor Contact:
Tra-Digital IR
Investors@SinglePoint.com 
(212) 389 - 9782 ext. 107

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SOURCE SinglePoint Inc.

FAQ

What is the significance of SinglePoint's acquisition of Frontline Power Solutions?

The acquisition expands SinglePoint's access to deregulated energy markets and enhances its service offerings.

How many states is Frontline Power Solutions licensed to operate in?

Frontline Power Solutions is licensed in nine states and has applied for approval in twelve additional states.

What market opportunity does SinglePoint see in the energy sector?

SinglePoint is targeting an estimated $9 billion in annual revenues from deregulated energy markets across 26 states.

What benefits does SinglePoint expect from the acquisition?

The acquisition is expected to provide access to new clients and enhance efficiency in energy service agreements.