SinglePoint
Enters into Definitive Agreement to Purchase Frontline Power
Solutions, a Multi-State Licensed Energy Services Company
(ESCO)
-
Acquisition
expected to be strategically and financially accretive with the
ability to cross-sell commercial, industrial and government clients
with a full suite of energy
solutions
-
Federal
Government Allocates $350 Billion towards Energy Efficiency
Improvements in Commercial
Buildings
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PHOENIX, May 3, 2022 -
InvestorsHub NewsWire -- SinglePoint, Inc. (OTCQB: SING) ("SinglePoint'' or "the Company''), a
renewable energy and sustainable solutions provider, is pleased to
announce the Company's latest acquisition, Frontline Power
Solutions ("Frontline" or "FPS"). Frontline specializes in
electrical supply, demand response and energy efficiency programs
in most deregulated markets. Frontline has established itself as a
formidable competitor with substantial market share while providing
best-in-class customer service and
retention.
John Holmes, Founder & CEO of
FPS, commented, "Our focus has been supplying commercial energy
contracts to large and small commercial, industrial, institutional
and property management firms to facilitate substantial reductions
in energy consumption and spend while streamlining logistical
management of their energy portfolios. FPS also focuses on high
demand data centers, manufacturing & cryptocurrency mining
firms with direct to generation Power Purchase Agreements (PPAs),
facilitated through our vast network of contracted channel
partnerships. Now, with SinglePoint's acquisition of FPS, we
will be able to offer their new and existing customers a full range
of energy related products designed to fit the specific needs of
the customer, thus reducing energy spend and carbon emissions and
driving towards a greener environment. This comprehensive approach,
along with FPS's highly experienced management and sales team, will
secure our combined companies' continued growth. FPS is extremely
excited to be part of the SinglePoint family of corporations and
will become a standard brand name in the US commercial energy
market."
Holmes continued, "The clients of
Frontline are strategically aligned with SinglePoint's renewable
energy options. Every client of Frontline is looking for a way to
reduce their electrical costs. This strategically aligns with a
solar service solution, we will be able to reduce all customers
energy costs, whether it is through a better whole rate or through
the addition of a solar installation by one of our premier
providers. Being acquired by SinglePoint enables us to offer a
comprehensive solution that now includes energy services in
addition to their existing and planned renewable energy products
and services. Frontline Power can now benefit by offering
complementary and high-demand solar and battery storage to existing
customers, enabling them to be in control as they look to achieve
energy independence and redundancy."
As Frontline Power acquires new
clients and renews existing contracts, there are tremendous revenue
opportunities as more clients turn toward energy independence and
off-grid sustainability. Finalizing this acquisition puts
SinglePoint and its core subsidiaries in position to offer a full
suite of power solutions, whether by self-generation or by
preferred power purchase agreements. The ability to now offer
wholesale power supply, solar power generation and energy storage
to Frontline's clients will further differentiate SinglePoint and
Frontline as they expand service offerings to meet and exceed the
energy requirements of existing and future
clients.
Wil Ralston, CEO of SinglePoint,
commented, "When preparing for our next acquisition, it became
apparent that Frontline Power would be a beneficial addition to our
team. They have a strong base clientele exceeding 4,500 client
opportunities across the nation that have done business with
Frontline Power and its team of professionals. Adding Frontline to
our family of companies aligns with our goal to extend the reach of
renewable energy options and scalability. Coupling the services and
support clients are getting from Frontline with our existing
renewable energy subsidiaries, we have an opportunity to expand the
way these client's access and generate power. This acquisition also
provides us a book of 4,500 plus opportunities for commercial solar
installation across the nation, with clients who we are already or
will be selling their wholesale energy to
already."
SinglePoint will continue to add
companies through opportunistic acquisitions that have products and
services that align with their strategic goals. The company will
continue its aggressive expansion plan to be the leading national
network of solar services as well as continue to drive its
burgeoning indoor air quality business
segment.
Ralston concluded, "With the recent
addition of Boston Solar and now Frontline Power, it is imperative
we accelerate the spin-off or sale of certain non-core assets
including ShieldSaver and Discount Indoor Garden Supply. This will
allow our team to continue to focus on our expanding core product
offerings and services and provide our shareholders with additional
return as we intend to provide a 1 for 1 distribution at the
conclusion of the successful spin-off."
There are currently 26 US states
that offer deregulated power options, which is expected to reach $9
Billion in industry revenues. Energy deregulation allows for
companies to compete for business within varying regions, offering
attractive pricing or consumer benefits. As more companies get
involved in the deregulated energy market, prices will be driven
lower. Frontline stands out against other providers with their
experienced team, and top-notch customer service. Adding renewable
energy solutions to their established brand recognition will
position Frontline as the premium
provider.
About Frontline
Power Solutions
Frontline Power
Solutions (FPS) is a comprehensive energy solutions company.
Equipped with industry experts who have been on the "frontline" of
energy procurement, sales, marketing, analysis and information
technology in the power industry since the dawn of deregulation.
The combined intellectual and leveraged resources translate to
unmatched value to their customers. FPS provides full-service power
supply solutions, including supply, billing, auditing, renewable
energy supply, efficiency consulting and incentive coordination for
large or small
enterprises.
About SinglePoint
Inc (SING)
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 social
media for the latest
updates.
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 use of proceeds,
anticipated growth 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:
Tra-Digital
IR
Investors@SinglePoint.com
(212) 389 - 9782
ext. 107