SinglePoint Inc (OTCQB:SING) announced that its investee company Frontline Power Solutions has solidified a significant exclusive energy advisory agreement and a substantial 7.1 million kilowatts per hour (kWh) energy services contract with a renowned national property management firm.
The company said the energy contract is the second largest in Frontline's history, with Frontline Power having achieved growth of more than 100% since SinglePoint's strategic investment.
"These long-term contracts not only signify a recurring revenue stream for SinglePoint but also demonstrate our commitment to sustainability and market leadership," SinglePoint CEO Wil Ralston said in a statement.
SinglePoint noted that the agreement is set to generate about $110,000 in cost savings for the client over the term of the contract, reinforcing Frontline's standing as a vital ally for all clients aiming to optimize energy savings across their portfolios.
Frontline Power Solutions operates as a licensed energy services company (ESCO) in 15 states, delivering electric and gas contracts to commercial entities in deregulated markets, according to the company.
SinglePoint is a sustainable lifestyle company focused on solar energy and storage and indoor air purification markets.
Contact Sean at sean@proactiveinvestors.com