SinglePoint Continues to Secure Leadership
Position for Renewable Energy
Solutions and Energy-Efficient Applications;
Strategy Aligns with Potential
Impact of the Adoption of the $1.9 Trillion Dollar Stimulus
Plan
– Company recently
closed strategic
acquisitions in
solar lead
generation and clean
air technology and are
expected to drive revenue
– The American Rescue Plan passes
providing billions in
funding in multiple
categories including renewable
energy and clean
air filtration
systems for schools
Phoenix, AZ -- March 12, 2021 -- InvestorsHub
NewsWire -- SinglePoint Inc. (OTC:
SING) ("SinglePoint"
or the "Company"), a company focused on providing renewable energy
solutions and energy-efficient applications to drive better health
and living, today provided a
recap
of
year-to-date execution and shares
significant events in favor of the Company's focus in renewable
energy solutions and energy-efficient
applications.
–
Completed
acquisition of Energy
Wyze, LLC and Box
PureAir, LLC
–
Energy
Wyze
expected to
deliver 500 leads per day to
industry-leading
clients
–
Box
PureAir
has
initially
submitted over
$50 million in bids to
schools
within its exclusive territories and is actively preparing to
respond to additional RFPs related to increased ventilation and
indoor air quality
–
Strategically
positioned for 1:1 dividend
spin-off 1606 Corp to
existing shareholders
–
Planned
near-term 75:1 reverse split expected to position the
Company to uplist
–
Congress' adoption of the
American Rescue
Plan allocating $1.9 trillion in Stimulus
Package aligns with Company's focus
and long-term strategy
As previously
announced, SinglePoint
recently
completed the
acquisitions of Energy Wyze, LLC and Box PureAir, LLC. SinglePoint now is poised to
leverage
both acquisitions
to drive the vision of creating the first National network of renewable
energy services and products that promote a
cleaner sustainable life while minimizing the impact on the
environment.
"The first
quarter of 2021 has been
pivotal in establishing the foundation to achieve our goals for the
year. Completing
the
acquisitions
of
Energy
Wyze
and Box
PureAir
has been a great
start and we are optimistic about
revenue growth
and potential for each. In late December
2020, we eliminated one of our
outstanding convertible debt debentures and followed by successfully eliminating
all external convertible debt and the associated derivative
liabilities
with those debt
obligations in January
2021. The
elimination of the derivative
liabilities
coupled with the corporate actions that were filed
and
expected to be
effective soon, fundamentally
strengthens
and
well-positions SinglePoint
to
advance
towards uplisting to a premier national
exchange. These deliberate steps are
critical
in propelling SinglePoint
to its
next phase of growth
and to
prepare the
Company to compete with the industry
titans," commented Wil
Ralston,
President
SinglePoint.
The leadership
teams at Box PureAir and Energy
Wyze
are currently
producing revenue and targeting marque clients. Energy
Wyze
is aggressively
onboarding clients and is on target to meet or exceed its near-term
lead generation goals for its solar centric clients. It is
currently estimated that only about 4% of the addressable homes in
the US domestic market currently have solar. Box
PureAir
has initially
submitted over $50,000,000 in bids to schools within its exclusive
territories and has already started shipping units as its products
address the need and exceed all standards for improving indoor air
quality. The global air
purifier market size was
valued at $7.59 billion in 2019 and expected to grow at a compound
annual growth rate (CAGR) 10.6% during the forecast period 2020 to
2027. Previously, the demand for air purifiers was mainly driven by
the consumers suffering from respiratory disorders. Today, rising
health concerns among consumers and business looking to reopen and
provide a safe environment free of pathogens and viruses like
COVID-19 is expected to positively influence the demand of air
purifiers in the upcoming years.
With the adoption
of the $1.9 trillion
stimulus,
the American Rescue Plan billions
have been set
aside for
renewable energy and reopening of school and the economy as a
whole. The bill contains some of the most significant energy
legislation ever passed and encourages investment in the renewable
energy sector.7 Tax credits for solar
installers have been extended and the bill authorizes $35 billion
for funding in the renewables energy sector. Additionally,
lawmakers have proposed an energy storage system tax incentive to
help offset the cost which would further the adoption of solar and
battery backup storage systems.
"The recent passage of the
$1.9 trillion dollar stimulus
plan in
addition to previous federal stimulus
allocations provides both an immediate and long-term opportunity
for SinglePoint
and its
shareholders. The stimulus is designed to
address improve and enhance our national infrastructure and
SinglePoint
is positioned in
the renewable energy projects and incentives that will help drive
new customer acquisition for our solar and renewable energy
divisions," added Mr. Ralston.
As for reopening
schools and driving towards clean air
environments, the bill provides $130
billion to safely
reopen schools across the nation, including ventilation and
improving indoor
air quality (Indoor Clean
Air, "IAQ") to create safe indoor
environments with clean air. As outlined in a recent
article, schools will need to spend
time and money improving airflow using HVAC systems, stand-alone
HEPA air filtering systems or even just by opening windows if
students, teachers and staff are to return safely to in-school
learning. "The state of ventilation in
schools in the United States right now is woefully inadequate,"
Richard Corsi, dean of the College of
Engineering and Computer Science at Portland State University, told
a forum
hosted by The Johns Hopkins Center for Health
Security at the Bloomberg School of
Public Health."[1] The American
Society of Civil
Engineers said nearly 41% of schools have issues with HVAC systems,
which is a "significant concern."[2]
School facilities
(K-12) represent the second largest sector of public infrastructure
spending, after highways, and yet there is no comprehensive
national data source on K-12 public school infrastructure.
Available data indicates that 53% of public-school districts report the
need to update or replace multiple building systems including HVAC
systems. Meanwhile, public schools increasingly serve a secondary
function as emergency shelters and community resource facilities
during man-made or natural disasters, and facility upgrades are
needed to effectively fulfill this important community purpose.
Nearly 41% reported issues with HVAC systems, a significant concern
for facilities where children routinely spend eight hours a day. In
order to provide healthy and safe 21st century learning
environments, it is estimated that the nation should be spending
$87 billion per year on capital needs.[3]
"With poor ventilation, viral
particles can build up in the air in a classroom, cafeteria or
hallway. 'If you look at all the
high-profile
outbreaks -- same
underlying factors -- no masks, low ventilation. It doesn't matter
if it's spin class, ice hockey, camps, classrooms, choir practice
or restaurants, (it's) the same underlying
factors,' Joseph Allen, who directs the
Healthy Buildings Program at the Harvard T.H. Chan School of Public
Health."[4] With the continued focus on
improving IAQ and ventilation, Box PureAir is committed to providing a
solution.
On Saturday,
March 6th, Legislators passed
The American
Rescue Plan[5]. As of
Tuesday, March 9th Congress adopted
The American
Rescue Plan.6
The
plan is
designed to
help quicken the United States' recovery from the economic and
health effects of the COVID-19 pandemic.
About SinglePoint
Inc.
SinglePoint
Inc. is a renewable energy and sustainable lifestyle company
focused on providing environmentally friendly energy efficiencies
and healthy living solutions. SinglePoint is initially focused on
building the largest network of renewable energy solutions and
modernizing the traditional solar and energy storage model. The
Company is also actively exploring future growth opportunities in
air purification, electric vehicle charging, solar as a
subscription service, and additional energy efficiencies and
appliances that enhance sustainability and a healthier life. For
more information, visit the Company's website (www.singlepoint.com) and connect
on LinkedIn and Twitter.
Forward-Looking Statements
Certain
statements in this news release may contain forward-looking
information within the meaning of Rule 175 under the Securities Act
of 1933 and Rule 3b-6 under the Securities
Exchange Act of 1934 and are subject to the safe harbor created by
those rules. All statements, other than statements of fact,
included in this release, including, without limitation, statements
regarding potential plans and objectives of the Company, the
spinoff of nonenergy related assets, qualification for a national
exchange, and future expansion, are forward-looking statements that
involve risks and uncertainties.
There can be no assurance that
such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such statements.
Technical
complications, which may arise, could prevent the prompt
implementation of any strategically significant plan(s) outlined
above. The Company undertakes no duty to revise or update any
forward-looking statements to reflect events or circumstances after
the date of this release.
Investor
Contact:
JTC Team,
LLC
Jenene Thomas
833-475-8247
SING@jtcir.com