Eat & Beyond’s Portfolio Company, Purpose ESG, Targets Growing Renewables Sector Through Investment in Stardust Solar Technologies Inc.
- Residential & commercial solar markets are growing rapidly in North America
- Stardust Solar is a leading Canada-based Solar and EV charging franchiser & trainer
- Currently expanding into US markets with proven business models
Vancouver, BC, June 06, 2023 (GLOBE NEWSWIRE) — Eat & Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) (“Eat & Beyond” or the “Company”), an investment issuer focused on the global plant-based and alternative protein sector is pleased to announce that its portfolio company, Purpose ESG Holdings Inc. (“Purpose ESG”), an investment issuer building a portfolio of Clean Tech companies that support environmental, social, and governance (ESG) outcomes, has invested in Stardust Solar Technology Inc. (“Stardust Solar”), a British Columbia-based solar and EV charging franchiser and trainer. Stardust Solar has a network of over 2500 trained and certified Solar Professionals across North America and 18 franchisee operations.
“The solar market is growing rapidly, but not all solar companies offer the potential for outsized investment returns,” said Purpose ESG’s CEO, Young Bann. “Our rigorous vetting process of Stardust Solar revealed the startup’s multi-faceted advantages. They have scalable business models that have been proven competitive based on their year-over-year growth over the past 3 years. With the help of Purpose ESG to identify and realize incremental growth opportunities, we will support Stardust Solar in their goal of becoming the ‘Starbucks of Solar’.”
Stardust Solar is diversified across 3 revenue-generating entities: Stardust Solar Technologies, Stardust Solar Franchise, and Stardust Solar USA. They are now rolling out the commercially viable models they established in Canada in the much larger US market. Stardust also has a distinct competitive advantage in the US due to their unique end-to-end value chain models.
Another important driver behind Stardust Solar’s continued market penetration is the growing adoption of solar installations in North America across the under-invested residential and commercial segments. While there are over 43,000 current solar installations on residential, commercial and industrial rooftops in Canada , the market size in the US is significantly larger, with the White House recently projecting that their Inflation Reduction Act (IRA) is expected to enable 7.5 million more American families to afford residential solar installations thanks to a 30% tax credit.
Stardust Solar is a certified Solar Installation Training Provider and National Franchisor. In Canada, they are 1 of only 5 CSA-approved solar training companies. In the US, they earned proctor status from The North American Board of Certified Energy Practitioners® (NABCEP®), the most respected and widely recognized certification organization for professionals in the field of renewable energy. They currently have a market presence in 7 provinces and 2 territories in Canada and 12 states in the US.
Stardust Solar has also expanded into the Electrifications sector by becoming a Tesla Certified reseller and installer of Tesla PowerWall energy storage systems for the residential and commercial segments. By connecting the Tesla PowerWall’s advanced battery system to solar panels, private individuals and businesses can create an easy-to-use energy hub within their homes or facilities.
For more information about Purpose ESG and to sign up for their latest updates, visit purposeesg.com/
Contact Information for Purpose ESG:
Young Bann, CEO
Purpose ESG Holdings Inc.
For investor inquiries or further information, please contact: [email protected]
ABOUT PURPOSE ESG HOLDINGS INC.
Purpose ESG Holdings Inc. (“Purpose ESG”) is an investment issuer building a portfolio of Clean Tech companies that support environmental, social, and governance (ESG) outcomes, with a focus on electrification, energy transitions, circular economy, carbon and new tech. Purpose ESG provides its investors with the opportunity to participate in the growth of a portfolio of breakthrough technologies and value chain solutions with market leadership potential. The Company works closely with its portfolio companies to drive their growth and success, ultimately working to build a smarter, cleaner, and more sustainable future. Learn more: purposeesg.com
ABOUT EAT & BEYOND
Eat & Beyond is an investment issuer that makes it easy to invest in the future of food. Eat & Beyond identifies and makes equity investments in global companies that are developing and commercializing innovative food tech as well as plant-based and alternative food products. Led by a team of food industry experts, Eat & Beyond is the first issuer of its kind in Canada, providing retail investors with the unique opportunity to participate in the growth of a broad cross-section of opportunities in the alternative food sector, and access companies that are leading the charge toward a smarter, more secure food supply.
For more information about Eat & Beyond and to sign up for our latest updates, visit eatandbeyond.com
ON BEHALF OF THE BOARD OF DIRECTORS:
Michael Aucoin, CEO
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved the contents of this press release.
All information contained in this news release with respect to Purpose ESG was supplied by Purpose ESG for inclusion herein, and Eat & Beyond directors and officers have relied on Purpose ESG for such information.
Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com