Singlepoint Inc (SING)

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$SING SinglePoint Inc. Announces Strategic Transactions and Corporate Actions Simplifying Operations to Continue Consolidating and Expanding Energy-Centric Businesses


https://www.prnewswire.com/news-releases/singlepoint-inc-announces-strategic-transactions-and-corporate-actions-simplifying-operations-to-continue-consolidating-and-expanding-energy-centric-businesses-301802772.html

PHOENIX, April 20, 2023 /PRNewswire/ -- SinglePoint Inc. (OTCQB: SING or "the Company") announces strategic transactions to simplify and focus operations to increase revenue and achieve subsidiary level cash flow. The strategy will promote building upon the recently reported FY2022 increase in revenue to $21.8 Million versus $808,000 in FY2021. The Company will be selective, focusing on accretive opportunities to further expand its Solar Renewable Energy, Energy Storage for residential and small commercial customers and its Commercial Energy Services as it streamlines and consolidates energy- centric business units to prepare for operations after uplisting.

Residential Rooftop Solar will continue to benefit from the passage of the landmark US Inflation Reduction Act of 2022 (IRA) which provides $369 Billion in spending for climate and energy measures. The residential solar market size in the US will grow by $6.67 Billion between 2021 and 2026. Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association, has dubbed the next 10 years as the "Solar + decade," as solar and energy storage buildout is expected to continue to build momentum over the next 10+ years. Solar+ Battery Storage market in the US is set for multi-year growth due to the provisions in the IRA.