- Newly appointed CFO rejoins company with plans to roll out national solar brokerage model for residential, commercial consumers
- SING president highlights growth potential of solar industry, dismisses rumors of a reverse stock split
- Solar energy capacity expected to double over next five years according to leading industry association
Following the recent announcement of newly appointed CFO Corey Lambrecht, SinglePoint Inc. (OTCQB: SING) President Will Ralston appeared in a television interview to discuss the company’s projected increase in 2020 profits through the activities of Direct Solar, its high-performing subsidiary that produced more than $2 million in revenue in the second half of 2019 (http://ibn.fm/7qTxp).
In addition to discussing Direct Solar’s increased revenue potential, Ralston also wrote off any rumors of a reverse split for the company, assuring investors that company officials had “no intentions to do so” unless a compelling reason, such as fulfilling requirements for being listed on a major exchange, necessitated the move.
SinglePoint has a huge base of about 24,000 investors, so interest in the diversified activities of the company continue to gain momentum. Following the key strategic acquisition of Direct Solar in 2019, SING uplisted to the OTCQB and brought back Lambrecht as CFO, bringing the public company expertise required to define new opportunities within the solar market and expand to other areas in the clean and renewable energy space.
Besides serving as a public company executive for several corporations, Lambrecht has extensive experience in strategic acquisitions, new business development, consumer product development, corporate licensing and other key activities associated with new technologies and sustainability. As a certified director from the UCLA Anderson Graduate School of Management, Lambrecht has fulfilled many executive roles with responsibilities that include board communication, daily operations, raising capital, investor relations and corporate communications.
In his role as president and COO at Earth911 Inc., Lambrecht structured the acquisition of Quest Resource Management Group and grew that company’s revenues from less than $10 million at the time of initial investment to over $120 million by providing services to leading companies that divert valuable materials from landfills. In addition, Lambrecht refocused the activities of Earth911 into two key areas: Earth911 Media and Earth911 Recycling Data.
Operating in a synergistic fashion, Earth911 Media is a publishing company focused on waste-reduction topics while Earth911 Recycling Data leverages consumer data for the creation of the iRecycle app, enabling consumers to access location-based information for the purpose of recycling unwanted items. Along with seeing increasing revenue, the company also added prominent national clients to its roster during Lambrecht’s tenure. Those clients included Coke, Lowe’s, Staples, Green Mountain Coffee Roasters, Johnson & Johnson, ExxonMobil, BP Castrol, Owens-Corning, Behr, the City of Phoenix, PepsiCo, and Unilever. Lambrecht drew correlations between his experience fostering scalability and cultivating revenue growth to what he sees as SinglePoint’s promising future – a future strengthened by the bright success of Direct Solar.
“The disruptive nature of Direct Solar of America’s unique brokerage model is similar to my experiences during my tenure with Earth911 Inc.,” said Lambrecht (http://ibn.fm/em2L8), who added that the industry “will continue to grow over the coming years, and the ability to scale and roll out a national, asset-light brokerage model focused on providing the best solar options for residential and commercial consumers is a compelling business opportunity.”
As a subsidiary of SinglePoint, Direct Solar is a solar energy brokerage that serves both residential and commercial business owners by helping them find and install the best available solar energy systems. According to a report by SEIA, the leading industry association, residential solar saw its best quarter in history in Q3, and that capacity is expected to more than double over the next five years (http://ibn.fm/UBacy).
With an emphasis on new technologies, SinglePoint specializes in acquisitions of undervalued small to mid-sized companies and empowers those companies with the expertise and resources needed to achieve their full potential. The company gives investors the opportunity to diversify their money across a wide range of dynamic industries, including renewable energy, cannabis and payment processing.
For more information, visit the company’s website at www.SinglePoint.com
NOTE TO INVESTORS: The latest news and updates relating to SING are available in the company’s newsroom at http://ibn.fm/SING