Solar Integrated Roofing Corp. Secures $45 Million Co-Development Agreement for Georgia School Solar Projects

Rhea-AI Summary

Solar Integrated Roofing Corp. (OTC PINK:SIRC) has announced a co-development agreement with Lux Power to manage solar installations at 17 private high schools in Georgia, totaling 17 Megawatts and valued at over $45 million. The subsidiary, USA Solar Networks, will oversee construction, capital structuring, and materials procurement. This initiative is expected to save schools hundreds of thousands annually, enhancing educational resources. Leadership emphasizes the project’s positive community impact and educational value of solar energy.

Positive

• Secured a $45 million contract for 17 Megawatts of solar capacity.
• Expected annual savings of hundreds of thousands for participating schools.
• Positions SIRC as a community-focused company enhancing sustainability education.

Negative

• None.

SIRC Subsidiary USA Solar Networks to Manage Construction, Capital Structuring and Materials Procurement Spanning 17 High School Solar Installations

EL CAJON, CA / ACCESSWIRE / February 22, 2022 / Solar Integrated Roofing Corp. (OTC PINK:SIRC), an integrated, single-source solar power, roofing systems installation and EV charging company, has secured a co-development agreement with Lux Power for the installation of 17 solar projects at private high schools across the state of Georgia.

The projects in aggregate total 17 Megawatts of solar capacity with a contract value exceeding $45 million. SIRC subsidiary USA Solar Networks will manage construction, the structuring of capital solutions and facilitate all materials procurement for these projects.

Pablo Diaz, President of Solar Integrated Roofing Corp., said: "This contract represents a significant project win not only for our company and valued shareholders - but for the schools themselves. As the son of a former principal, I know how many educational institutions often face budget shortfalls. This project is expected to save hundreds of thousands of dollars per year for each school, allowing necessary funds to better contribute to an improved educational experience. In addition, we will partner with the schools to enable their solar installations to serve as an invaluable educational tool, promoting the importance of sustainability and green energy."

David Massey, CEO of Solar Integrated Roofing Corp., concluded: "This is yet another example of how our projects make a real world impact for the better - a firm testament to the impact we have on our local communities. We look forward to working with the Lux Power team to make these projects a reality, providing value for all stakeholders."

About Solar Integrated Roofing Corp.

Solar Integrated Roofing Corp. (OTC: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 Roofing Corp.

View source version on accesswire.com:
https://www.accesswire.com/689730/Solar-Integrated-Roofing-Corp-Secures-45-Million-Co-Development-Agreement-for-Georgia-School-Solar-Projects

FAQ

What is the significance of SIRC's $45 million contract?

The contract represents a major project win, emphasizing SIRC's role in sustainable energy while saving schools considerable funds.

How much solar capacity will SIRC install in Georgia?

SIRC will install a total of 17 Megawatts of solar capacity across 17 high schools.

Who is managing the solar projects for SIRC in Georgia?

SIRC's subsidiary, USA Solar Networks, is responsible for managing construction and materials procurement.

What community benefits are expected from SIRC's solar projects?

The projects aim to save schools money and promote sustainability education, enhancing the overall educational experience.

What is the timeline for the solar installations by SIRC?

The press release does not specify an exact timeline for the project completion.