Singlepoint, Inc. (OTC:SING) said it has acquired Frontline Power Solutions, a comprehensive energy service company with the ability to operate in deregulated markets across the US.
Frontline Power Solutions (FPS) is licensed in nine US states and has applied for and is awaiting final approval in 12 additional states. It provides energy supply agreements to commercial, industrial, and institutional properties. In addition to supplying direct agreements, FPS also lends its expertise to its clients to help reduce energy consumption, streamline energy portfolios, and offer other options to lower energy costs.
SinglePoint CEO Wil Ralston said Frontline Power Solutions is a great addition to the company. “Frontline will round out our service offerings by providing tremendous opportunities in the deregulated energy markets. Through energy service agreements or assistance with installing a client's solar system, SinglePoint can now assist thousands of commercial clients in their solar transition," he said.
READ: SinglePoint expects immediate revenue opportunities for its majority-owned subsidiary Boston Solar with passage of the Inflation Reduction Act
The acquisition provides SinglePoint with access to an extensive portfolio of clients while giving Frontier Power Solutions clients reciprocal access to one of the nation's leading solar power solutions companies and best-in-class customer service.
John Holmes, Founder and CEO of Frontline Power Solutions said: "Our focus has been supplying commercial energy contracts to large and small commercial, industrial, institutional, and property management firms. We facilitate substantial reductions in energy consumption and spending while streamlining logistical management of their energy portfolios. By joining SinglePoint, our two companies benefit from economies of scale and monetizing opportunities more efficiently and quickly."
The purchase is the latest in SinglePoint's acquisition strategy, bringing a growing collection of solar providers and energy solutions under one corporate umbrella.
SinglePoint has acquired six subsidiaries, including EnergyWyze, BOX Pure Air, Direct Solar America, Ecodaptive, Boston Solar, and now Frontline Power Solutions.
There are currently 26 US states that offer deregulated power options, which are expected to reach US$9 billion in annual industry revenues.
Frontline Power Solutions provides full-service power supply solutions, including supply, billing, auditing, renewable energy supply, efficiency consulting, and incentive coordination for large or small enterprises.
SinglePoint is a renewable energy, and sustainable lifestyle company focused on providing environmentally friendly energy efficiencies and healthy living solutions. SinglePoint focuses 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.
Contact the author at susie@proactiveinvestors.com