Co-Development Agreement with AED to Provide Turnkey Alternative Energy Systems for Multiple Hard Rock Hotel Properties
HENDERSON, NV / ACCESSWIRE / August 9, 2022 / Solar Integrated Roofing Corp. (OTC PINK:SIRC), an integrated, single-source solar power, roofing systems installation and EV charging company, today announced it has partnered with Associated Energy Developers, LLC ("AED"), a full-service commercial and industrial solar, battery storage, wind, hydrogen and microgrid design, development and management company, to assist with the development and financing of turnkey alternative energy systems - comprised of solar, battery storage and EV charging solutions - for multiple existing Hard Rock Hotel locations along with several planned future hotels.
With its founder's sustainability story dating back to 1976, AED is an industry leader in timely and successfully designing, engineering, developing, and financing medium to large scale commercial and industrial solar photovoltaic and wind power generation plants globally.
Per the terms of the co-development agreement, Solar Integrated Roofing Corp. will assist with obtaining funding for solar, battery storage and EV charging for several Hard Rock Hotels - generating an estimated $55 million in sales for the initial portfolio.
SIRC would maintain an option to complete additional hotel projects after completion of the initial portfolio - generating an additional estimated $85 million in sales, for a total of up to an estimated $140 million in sales over an estimated 24 - 36 month period dependent upon the construction timelines of the future hotels to be constructed.
"We are excited to be finalizing our joint agreement with Hard Rock's growing efforts to sustainably address waste, energy, and water consumption with our turnkey alternative energy solutions," David Massey, CEO of Solar Integrated Roofing Corp. "With nearly 250 venues in more than 70 countries - including 29 hotels and over 16,000+ rooms - Hard Rock is taking a leading effort to incorporate sustainability into its corporate strategy and goal setting.
"As hotel guests are increasingly aware of the environmental impacts of the hospitality sector, environmental sustainability has become essential for hotels to achieve growth and attract visitors. We look forward to working with the team at AED to finalize this order and move forward with adding solar, battery storage and EV charging solutions to these Hard Rock properties here in the United States and internationally."
About Solar Integrated Roofing Corp.
Solar Integrated Roofing Corp. (OTC:SIRC), is an integrated, single-source solar power, roofing systems installation and EV charging company specializing in commercial and residential properties throughout the United States. The Company serves communities by delivering the best experience through constant innovation & legacy-focused leadership. The Company's broad array of solutions include sales and installation of solar energy systems, battery backup and electric vehicle (EV) charging stations to roofing, HVAC and related electrical contracting work. For more information, please visit the Company's website at www.solarintegratedroofing.com.
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update the information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
SOURCE: Solar Integrated Roof Corp.