$DFCO Dalrada Executes Corporate Restructuring to Increase Focus on Core Climate Technologies Business and Reduce SG&A by Approximately $3 Million Annually
https://www.businesswire.com/news/home/20230628241146/en/
SAN DIEGO--(BUSINESS WIRE)--Dalrada Corporation (OTCQB: DFCO, “Dalrada”), an American company focused on global transformative environmental innovations with a multi-faceted technological and operational approach to mitigate the negative impacts of climate change, today announced the details of its corporate restructuring effort with an increased focus on climate technology. Its new division, Dalrada Climatech, along with the continued success of Dalrada’s health products and services, will accelerate long-term growth and profitability for the company.
As previously reported, Dalrada reorganized its Board of Directors to facilitate the development of its U.S. and global expansion. The Board of Directors is also conducting a full review of Dalrada’s divisions and product offerings in their specific markets to consolidate individual sectors, with concentrated efforts on building Dalrada Climatech’s tools and services. The driving force will be the combination of the company’s Likido and Dalrada Energy Services divisions, which will both be renamed Dalrada Climatech. Dalrada expects the net savings from the restructuring to be approximately $3 million annually, with revenue growth to ramp up by the first quarter of 2024 and reaching profitability by the fourth quarter of 2024.
The Dalrada Climatech development and manufacturing division is headquartered in the United Kingdom, at the epicenter of European ESG (Environmental, Social, and Governance). The increased manufacturing capacity in the center of Europe will allow for more immediate expansion into the quickly-advancing European green energy market. Dalrada’s Climatech division will help organizations meet ESG goals and standards while mitigating adverse environmental impacts and increasing operational efficiency and profitability. Dalrada Climatech, together with Dalrada’s health products and services, are expected to represent the most immediate and significant growth opportunity for the company.
To support and accelerate further growth in the U.S. market, the company opened a demonstration site in Las Vegas in May of this year to showcase Dalrada’s heat pump capabilities.
Dalrada centrally manages its divisions throughout the U.S., Europe, and Asia from its Escondido, California headquarters. The company continuously creates innovative, impactful solutions that address the need to support positive climate change efforts. Dalrada is committed to supporting the prosperity and health of people and creating a climate-safe planet. For more information about Dalrada Corporation and its subsidiaries, please visit www.Dalrada.com.
https://www.businesswire.com/news/home/20230628241146/en/
SAN DIEGO--(BUSINESS WIRE)--Dalrada Corporation (OTCQB: DFCO, “Dalrada”), an American company focused on global transformative environmental innovations with a multi-faceted technological and operational approach to mitigate the negative impacts of climate change, today announced the details of its corporate restructuring effort with an increased focus on climate technology. Its new division, Dalrada Climatech, along with the continued success of Dalrada’s health products and services, will accelerate long-term growth and profitability for the company.
As previously reported, Dalrada reorganized its Board of Directors to facilitate the development of its U.S. and global expansion. The Board of Directors is also conducting a full review of Dalrada’s divisions and product offerings in their specific markets to consolidate individual sectors, with concentrated efforts on building Dalrada Climatech’s tools and services. The driving force will be the combination of the company’s Likido and Dalrada Energy Services divisions, which will both be renamed Dalrada Climatech. Dalrada expects the net savings from the restructuring to be approximately $3 million annually, with revenue growth to ramp up by the first quarter of 2024 and reaching profitability by the fourth quarter of 2024.
The Dalrada Climatech development and manufacturing division is headquartered in the United Kingdom, at the epicenter of European ESG (Environmental, Social, and Governance). The increased manufacturing capacity in the center of Europe will allow for more immediate expansion into the quickly-advancing European green energy market. Dalrada’s Climatech division will help organizations meet ESG goals and standards while mitigating adverse environmental impacts and increasing operational efficiency and profitability. Dalrada Climatech, together with Dalrada’s health products and services, are expected to represent the most immediate and significant growth opportunity for the company.
To support and accelerate further growth in the U.S. market, the company opened a demonstration site in Las Vegas in May of this year to showcase Dalrada’s heat pump capabilities.
Dalrada centrally manages its divisions throughout the U.S., Europe, and Asia from its Escondido, California headquarters. The company continuously creates innovative, impactful solutions that address the need to support positive climate change efforts. Dalrada is committed to supporting the prosperity and health of people and creating a climate-safe planet. For more information about Dalrada Corporation and its subsidiaries, please visit www.Dalrada.com.
