Solar Integrated Roofing Corp. Appoints Respected Energy Entrepreneur Michael Fallquist to Board of Directors

Rhea-AI Summary

Solar Integrated Roofing Corp. (OTC PINK:SIRC) has appointed Michael Fallquist to its Board of Directors, bringing extensive capital markets and M&A experience. Fallquist previously served as CEO of Crius Energy, which generated over $1.2 billion in revenue in 2018. His expertise encompasses strategy, corporate finance, and risk management, which will support SIRC's pursuit of accretive acquisitions. David Massey, CEO of SIRC, emphasizes Fallquist's capability to enhance the company's growth and integration of new businesses into its portfolio.

Positive

• Michael Fallquist brings significant M&A expertise and capital markets experience.
• Fallquist's prior leadership at Crius Energy resulted in substantial revenue and successful acquisitions.
• His appointment is expected to facilitate growth through strategic acquisitions.

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• None.

Michael Fallquist to Bring Extensive Capital Markets and M&A Experience to the Board of Directors

EL CAJON, CA / ACCESSWIRE / January 24, 2022 / Solar Integrated Roofing Corp. (OTC PINK:SIRC), an integrated, single-source solar power, roofing systems installation and EV charging company, today announced the appointment of Michael Fallquist, a respected entrepreneur and energy industry expert, to the Board of Directors.

Mr. Fallquist currently serves as co-Chief Executive Officer & Director of Energywell, LLC. Energywell is a newly formed entity with a $100 million capital commitment from Oaktree Capital Management, L.P. and Hartree Partners L.P. to create a technology-driven sustainable energy platform. Prior to his role with Energywell, Mr. Fallquist served as Chief Executive Officer & Director of Crius Energy LLC, a publicly listed retail energy and solar provider that served approximately 1.4 million customers and generated over $1.2 billion in revenue in 2018. He led the successful acquisition of 12 companies in the retail energy and solar industries, including TriEagle Energy, U.S. Gas & Electric, SunEdison and Verengo Solar. Crius Energy was acquired by Vistra Energy on July 15, 2019, for a total enterprise value of approximately C$650 million. Mr. Fallquist received the Ernst & Young Entrepreneur of the Year Award in the Clean-Tech category for the New York region in 2012.

"Michael brings a wide suite of highly complementary experience, having successfully built a public energy and solar company while overseeing several successful acquisitions and financings," said David Massey, Chief Executive Officer of Solar Integrated Roofing. "His strong capital markets and executive experience are complemented by extensive strategy, M&A, corporate finance, investor relations, risk management and corporate governance expertise.

"I believe that Michael's M&A expertise will add significant value as we continue to pursue accretive acquisitions of high growth businesses and integrate recently announced acquisitions into growing family of companies. We welcome Michael to the position and are fortunate to have someone of his caliber and skill set serve on our board," concluded Massey.

About Solar Integrated Roofing Corp.

Solar Integrated Roofing Corp. (OTC PINK:SIRC), is an integrated, single-source solar power, roofing systems installation and EV charging company specializing in commercial and residential properties throughout the United States. The Company serves communities by delivering the best experience through constant innovation & legacy-focused leadership. The Company's broad array of solutions include sales and installation of solar energy systems, battery backup and electric vehicle (EV) charging stations to roofing, HVAC and related electrical contracting work. For more information, please visit the Company's website at www.solarintegratedroofing.com.

Forward-Looking Statements

Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update the information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.

Investor Relations Contact:
Lucas A. Zimmerman
Director
MZ North America
Main: 949-259-4987
SIRC@mzgroup.us
www.mzgroup.us

SOURCE: Solar Integrated Roof Corp.

View source version on accesswire.com:
https://www.accesswire.com/684719/Solar-Integrated-Roofing-Corp-Appoints-Respected-Energy-Entrepreneur-Michael-Fallquist-to-Board-of-Directors

FAQ

What experience does Michael Fallquist bring to SIRC?

Michael Fallquist has extensive capital markets and M&A experience, having previously served as CEO of Crius Energy, where he led numerous successful acquisitions.

How will Fallquist's appointment impact SIRC's growth?

Fallquist's expertise in M&A is expected to support SIRC in pursuing and integrating high-growth businesses.

When was Michael Fallquist appointed to SIRC's Board of Directors?

Michael Fallquist was appointed to the Board of Directors of Solar Integrated Roofing Corp. on January 24, 2022.