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SinglePoint Inc. (SING) Subsidiary Reports Continued Growth as Company Kicks Off 2020 Initiatives

  • SING’s current strategy includes focused marketing, sales-development initiatives
  • Company “strongly committed” to continued development, improvement of Direct Solar America subsidiary
  • SEIA dubs 2020s the solar+ decade; SING set to capitalize on solar becoming leading source of new-energy generation

Following a week during which its subsidiary Direct Solar America reported increased growth in terms of new contract development, SinglePoint Inc. (OTCQB: SING) notes that the company’s 2020 strategy – which includes new marketing and sales development initiatives – is starting to take shape (http://ibn.fm/FRG97). Designed primarily around Direct Solar America, those initiatives are comprised of starting new canvassing teams, improving customer service and increasing engagement of partnership channels.

“We are strongly committed to continuing the development and improvement of Direct Solar America,” SinglePoint CEO Greg Lambrecht stated in a news release. “The company’s model continues to impress us by the ability to scale with few constraints into new markets. As we continue to see states rolling out incentives, we are able to act quickly and assess the market viability in order to decide whether to roll out teams in that area. Solar continues to be a driving factor and hot topic in the media, which I believe has resulted in the company expanding as rapidly as [it] has. Direct Solar America, as a standalone entity, eclipsed $2 million in revenue in just six months of business.”

SING’s deliberate focus appears well founded as the Solar Energy Industries Association (SEIA) reports that the U.S. solar market surpassed 2 million installations in Q1 2019 (http://ibn.fm/JlwGP). The association anticipates the industry will hit 3 million installations in 2021 and 4 million installations in 2023, growth that comes as an increasing number of consumers look to address environment concerns and take advantage of reduced installation costs.

The 2020s have been called the solar+ decade by the SEIA. “The 2010s were filled with more highs than lows, and the solar industry is in a strong position to become the leading source of new-energy generation this decade,” added SEIA president and CEO Abigial Ross Hoppe. “Working in collaboration with other clean-energy technologies, including storage, solar will lead a clean-energy economic boom while also reducing greenhouse gas emissions.”

That anticipated growth was also the focus of a recent podcast by SinglePoint CFO Corey A. Lambrecht (http://ibn.fm/JMy1B). “What we are looking for as we get into a full year’s worth of growth is to really accelerate those revenues on the residential side and use that as our foundation going forward into 2020 and beyond,” Lambrecht continued. “And then hopefully as we’ve focused on some commercial opportunities as well, we can add those in. We had nice revenue growth throughout 2019. We learned a lot, absorbed the startup costs, and it was successful.”

The newest member of the SING leadership team, Lambrecht explained that “what intrigued me about Direct Solar is their unique business model. And the business model around them is to really become the solar expert for homeowners and to help installers get qualified candidates out there that are looking to put solar on residential. They do it by the way of an asset-like model, which is very similar to what we built in the landfill diversion space. We didn’t have any trucks or services, and we didn’t own any of the landfills, so basically we were aligned with the material, making sure it had its highest and best use going forward.”

Lambrecht brings with him more than 20 years of experience as a public-company executive with broad experience in strategic acquisitions, corporate turnarounds, new business development, pioneering consumer products, corporate licensing, and interactive technology services. “I think one of the things for the shareholders of SinglePoint to make note of is that I have been involved with a national scale roll-up like this in the past,” Lambrecht added. “There are going to be some bumps along the way, but there are going to be tailwinds driving this particular industry for solar over the next number of years.”

SinglePoint provides investors with the opportunity to make investments across a wide range of assets that currently include but are not limited to solar energy, hemp, mobile-payment applications and more. SING is leveraging technology expertise into emerging opportunities. By building a portfolio in undervalued companies the company is able to provide a rich, diversified holding base and create branded products.

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

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