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 commercialand 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 commercialand industrial solar photovoltaic and wind power generation plants globally.
Per the terms of the co-development agreement, Solar Integrated Roofing Corp. willassist 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 additionalestimated $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."