Dear Shareholders,
SIRC has experienced significant evolution in the first half of 2023, with considerable positive changes occurring in the second quarter as we position the Company for forward scale. During the second quarter ended
Our vision for Tribeca Energy is to achieve the decarbonizing of the energy grid by focusing on renewable energy, long-duration energy storage (LDES) solutions, and distributed energy supplies to ultimately transform the world economy through energy security. We are highly confident in our ability to realize this vision with the agreement between
To highlight some operational updates related to our EV Division and PLEMCo we want to shed some light on some of PLEMCo’s current projects. PLEMCo has completed EVSE Projects at the following LA County locations in the past few months:
Acton , 10 Powerflex EV ChargersRosemead , 26 Powerflex EV ChargersEl Monte , 9 Powerflex EV Chargers- La Canada, 12 Powerflex EV Chargers
Long Beach , 8 Powerflex EV Chargers- High Desert Lancaster, 19 Powerflex EV Chargers
Santa Clarita , 10 Powerflex EV ChargersPomona , 20 Powerflex EV ChargersAltadena 10 Powerflex EV ChargersWhittier , 12 Powerflex EV Chargers- East LA, 24 Powerflex EV Chargers
City Terrace , 8 Powerflex EV Chargers- K6
Lancaster , 40 Powerflex EV Chargers - EVSE project at the Barstow Veterans Home under contract with California DGS installing 12 EV Charging stations
Four additional, notable projects that PLEMCo currently has under construction include:
- Installation of 33 Powerflex EV Chargers at
Olive View UCLA Medical Center Silmar in different parking facilities on their property - Installation of 18 Powerflex EV Chargers at
Richard Donavan Correctional Facility inSan Diego - Installation of 400
LED High Bay lights in theVolcom Warehouse as part of their ongoing agreement withIrvine Company for lighting projects at their facilities - Commencement of phase II of a lighting project at the Marriott property on
Coronado Island inSan Diego
Combined, these projects will generate more revenue than was realized in the full year 2022. Once those key projects are completed, we will also immediately start the multi-million-dollar Beaches and Harbors project. Our PLEMCo sales & business development team is actively engaged in securing additional large EVSE contracts as we manage our rapidly growing pipeline of business.
We also do not see any impact on our current operations as a result of other OEM’s agreeing to use Tesla Fast Charging technology. We are fully capable of installing any charger technology. LA County, California DGS, and federal and state governments are not heavily reliant on Tesla vehicles in their current fleets needing that charging technology in any event.
Additionally, SIRC’s Shared Services,
Every month of 2023 has seen our Services Division achieve at least 105% of that month’s high-side forecast culminating in a June achievement of over 131% of our monthly high-side forecast. The growth of our SIRC Services division and the Balance brand has been enhanced by the recent successful launch of our SIRC Finance Services and Balance Finance sub-division and the tailwinds of an active storm year across
As we progress forward through the second half of 2023, we remain committed to providing timely updates and transparency for our shareholders and all stakeholders of SIRC. Beginning in July, we will start a monthly mid-month podcast on our new @SIRC_Official YouTube channel. We are targeting the third week of July for the initial podcast with both of us - CEO,
We are excited about our reinvigorated vision, our operational roadmap, and the commitment from our shareholders, employees, associated team members and mission-critical strategic alliance partners. We wish everyone in the
Sincerely,
Chief Executive Officer & President
About
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Examples of forward-looking statements in this press include, among others, statements about our renegotiated settlement agreement. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our limited operating history; our dependence on third parties for many aspects of our business; general market and economic conditions; technical factors; the availability of outside capital; our receipt of revenues; legislative developments; changes in our expenditures and other uses of cash; our ability to find, recruit and retain personnel in sufficient numbers to support our growth; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Registration Statement on Form 10 or Quarterly Report on Form 10-Q filed with the
Investor Relations Contact:
+1 (949) 546-6326
SIRC@mzgroup.us
www.mzgroup.us
Source:
2023 GlobeNewswire, Inc., source