SinglePoint Continues to Secure Leadership Position for Renewable Energy Solutions and Energy-Efficient Applications; Strategy Aligns with Potential Impact of the Adoption of the $1.9 Trillion Stimulus Plan

Rhea-AI Summary

SinglePoint Inc. (OTC: SING) has reported significant milestones in renewable energy solutions in 2021. The company completed acquisitions of Energy Wyze and Box PureAir, with Energy Wyze aiming for 500 leads daily and Box PureAir submitting over $50 million in bids to schools. A strategic 75:1 reverse split is planned to facilitate an uplisting. Additionally, the $1.9 trillion American Rescue Plan is expected to boost renewable projects. The company anticipates revenue growth from these initiatives.

Positive

• Completed acquisitions of Energy Wyze and Box PureAir.
• Energy Wyze targets 500 leads per day from clients.
• Box PureAir submitted over $50 million in bids to schools.
• Strategically positioned for a 75:1 reverse stock split.
• The American Rescue Plan's $1.9 trillion allocation supports renewable energy initiatives.

Negative

• None.

PHOENIX, March 11, 2021 /PRNewswire/ -- SinglePoint Inc. (OTC: SING) ("SinglePoint" or the "Company"), a company focused on providing renewable energy solutions and energy-efficient applications to drive better health and living, today provided a recap of year-to-date execution and shares significant events in favor of the Company's focus in renewable energy solutions and energy-efficient applications.

–   Completed acquisition of Energy Wyze, LLC and Box PureAir, LLC
–   Energy Wyze expected to deliver 500 leads per day to industry-leading clients
–   Box PureAir has initially submitted over $50 million in bids to schools within its exclusive territories and is actively preparing to respond to additional RFPs related to increased ventilation and indoor air quality
–   Strategically positioned for 1:1 dividend spin-off 1606 Corp to existing shareholders
–   Planned near-term 75:1 reverse split expected to position the Company to uplist
–   Congress' adoption of the American Rescue Plan allocating $1.9 trillion in Stimulus Package aligns with Company's focus and long-term strategy

As previously announced, SinglePoint recently completed the acquisitions of Energy Wyze, LLC and Box PureAir, LLC.  SinglePoint now is poised to leverage both acquisitions to drive the vision of creating the first National network of renewable energy services and products that promote a cleaner sustainable life while minimizing the impact on the environment.

"The first quarter of 2021 has been pivotal in establishing the foundation to achieve our goals for the year. Completing the acquisitions of Energy Wyze and Box PureAir has been a great start and we are optimistic about revenue growth and potential for each. In late December 2020, we eliminated one of our outstanding convertible debt debentures and followed by successfully eliminating all external convertible debt and the associated derivative liabilities with those debt obligations in January 2021. The elimination of the derivative liabilities coupled with the corporate actions that were filed and expected to be effective soon, fundamentally strengthens and well-positions SinglePoint to advance towards uplisting to a premier national exchange. These deliberate steps are critical in propelling SinglePoint to its next phase of growth and to prepare the Company to compete with the industry titans," commented Wil Ralston, President SinglePoint.

The leadership teams at Box PureAir and Energy Wyze are currently producing revenue and targeting marque clients.  Energy Wyze is aggressively onboarding clients and is on target to meet or exceed its near-term lead generation goals for its solar centric clients. It is currently estimated that only about 4% of the addressable homes in the US domestic market currently have solar. Box PureAir has initially submitted over $50,000,000 in bids to schools within its exclusive territories and has already started shipping units as its products address the need and exceed all standards for improving indoor air quality. The global air purifier market size was valued at $7.59 billion in 2019 and expected to grow at a compound annual growth rate (CAGR) 10.6% during the forecast period 2020 to 2027. Previously, the demand for air purifiers was mainly driven by the consumers suffering from respiratory disorders. Today, rising health concerns among consumers and business looking to reopen and provide a safe environment free of pathogens and viruses like COVID-19 is expected to positively influence the demand of air purifiers in the upcoming years.

With the adoption of the $1.9 trillion stimulus, the American Rescue Plan billions have been set aside for renewable energy and reopening of school and the economy as a whole. The bill contains some of the most significant energy legislation ever passed and encourages investment in the renewable energy sector.⁷ Tax credits for solar installers have been extended and the bill authorizes $35 billion for funding in the renewables energy sector. Additionally, lawmakers have proposed an energy storage system tax incentive to help offset the cost which would further the adoption of solar and battery backup storage systems.

"The recent passage of the $1.9 trillion dollar stimulus plan in addition to previous federal stimulus allocations provides both an immediate and long-term opportunity for SinglePoint and its shareholders. The stimulus is designed to address improve and enhance our national infrastructure and SinglePoint is positioned in the renewable energy projects and incentives that will help drive new customer acquisition for our solar and renewable energy divisions," added Mr. Ralston.

As for reopening schools and driving towards clean air environments, the bill provides $130 billion to safely reopen schools across the nation, including ventilation and improving indoor air quality (Indoor Clean Air, "IAQ") to create safe indoor environments with clean air. As outlined in a recent article, schools will need to spend time and money improving airflow using HVAC systems, stand-alone HEPA air filtering systems or even just by opening windows if students, teachers and staff are to return safely to in-school learning. "The state of ventilation in schools in the United States right now is woefully inadequate," Richard Corsi, dean of the College of Engineering and Computer Science at Portland State University, told a forum hosted by The Johns Hopkins Center for Health Security at the Bloomberg School of Public Health."¹ The American Society of Civil Engineers said nearly 41% of schools have issues with HVAC systems, which is a "significant concern."²

School facilities (K-12) represent the second largest sector of public infrastructure spending, after highways, and yet there is no comprehensive national data source on K-12 public school infrastructure. Available data indicates that 53% of public-school districts report the need to update or replace multiple building systems including HVAC systems. Meanwhile, public schools increasingly serve a secondary function as emergency shelters and community resource facilities during man-made or natural disasters, and facility upgrades are needed to effectively fulfill this important community purpose. Nearly 41% reported issues with HVAC systems, a significant concern for facilities where children routinely spend eight hours a day. In order to provide   healthy and safe 21st century learning environments, it is estimated that the nation should be spending $87 billion per year on capital needs.³

"With poor ventilation, viral particles can build up in the air in a classroom, cafeteria or hallway. 'If you look at all the high-profile outbreaks -- same underlying factors -- no masks, low ventilation. It doesn't matter if it's spin class, ice hockey, camps, classrooms, choir practice or restaurants, (it's) the same underlying factors,' Joseph Allen, who directs the Healthy Buildings Program at the Harvard T.H. Chan School of Public Health."⁴ With the continued focus on improving IAQ and ventilation, Box PureAir is committed to providing a solution.

On Saturday, March 6^th, Legislators passed The American Rescue Plan⁵. As of Tuesday, March 9^th Congress adopted The American Rescue Plan.⁶ The plan is designed to help quicken the United States' recovery from the economic and health effects of the COVID-19 pandemic.

About SinglePoint Inc.

SinglePoint Inc. 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 LinkedIn and Twitter.

Forward-Looking Statements

Certain statements in this news release may contain forward-looking information within the meaning of 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, other than statements of fact, included in this release, including, without limitation, statements regarding potential plans and objectives of the Company, the spinoff of nonenergy related assets, qualification for a national exchange, 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 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: 

JTC Team, LLC
Jenene Thomas
833-475-8247
SING@jtcir.com

1 https://www.cbs58.com/news/cdc-must-encourage-better-ventilation-to-stop-coronavirus-spread-in-schools-experts-say
2 Report: US schools receive D grade for infrastructure | K-12 Dive
3 School Infrastructure | ASCE's 2021 Infrastructure Report Card
4 https://www.cbs58.com/news/cdc-must-encourage-better-ventilation-to-stop-coronavirus-spread-in-schools-experts-say
5 https://www.whitehouse.gov/briefing-room/legislation/2021/01/20/president-biden-announces-american-rescue-plan/
6 https://www.washingtonpost.com/us-policy/2021/03/10/house-stimulus-biden-covid-relief-checks/
7 https://www.ft.com/content/3f60fa79-7f1d-4273-accd-396c38302bb3

 

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SOURCE SinglePoint Inc.

FAQ

What recent acquisitions did SinglePoint Inc. (SING) complete?

SinglePoint Inc. completed acquisitions of Energy Wyze, LLC and Box PureAir, LLC.

How much revenue is Box PureAir bidding for schools?

Box PureAir has submitted over $50 million in bids to schools.

What is the planned reverse stock split for SinglePoint Inc. (SING)?

SinglePoint Inc. is planning a 75:1 reverse stock split.

How does the American Rescue Plan affect SinglePoint Inc. (SING)?

The American Rescue Plan allocates $1.9 trillion which supports renewable energy projects that SinglePoint is involved in.

What goals did Energy Wyze set for lead generation?

Energy Wyze aims to generate 500 leads per day.