Sacramento, CA, March 01, 2018 (GLOBE NEWSWIRE) -- A new report has been published on Innovest Global, Inc. (OTC Pink: IVST). Innovest Global, Inc. is a diversified holding company that focuses on acquiring niche, high-growth businesses that are capable of generating significant annual revenue. The company’s planned subsidiaries operate across telehealth, commercial energy, business-to-business distribution, national call center and auto sales.
The report provides an overview of Innovest Global, Inc., its subsidiaries, financials, industry analysis and more. The content also covers the global outlook for the smart lighting and energy efficiency markets.
Industrial & Commercial Application Account For 60% Of Global Smart Lighting Market
Energy efficiency continues to be a growing trend within the global business, government, and consumer markets, as the search for ways to cut costs picks up steam. Technological upgrades have made energy efficiency and smart lighting products much more affordable. This has resulted in greater adoption of the technology, as savings benefits outweigh costs.
Furthermore, the market is expected to see some benefits from the recent U.S. tax code overhaul. Under the old tax code, companies would have to utilize a depreciation model to know when tax credits could be realized. Now, companies can receive all of the tax credits from major purchases and upgrades in year one. This provides companies with a massive incentive to take on much-needed efficiency and energy upgrades.
According to recent data from LEDinside, the global smart lighting market is estimated to grow from $4.6 billion in 2017 to $13.4 billion in 2020. The data further notes that industrial and commercial application currently holds a commanding 60% of the total market. While the report does note that residential application will see the fastest growth through 2020, industrial and commercial use is expected to still hold over 50% of the total market in 2020.
According to a recent report from the National League of Cities, roughly 66% of U.S. cities have begun to develop smart city technology, with 25% exploring methods of implementing these new technologies.
Innovest Expands Energy Division To Cast Wider Net, Continue Jumpstarting Revenue Growth
In response to the impressive growth of the energy division and the sizable opportunity presented in the market right now, Innovest Global, Inc. recently announced plans to begin expanding its energy division on a national scale. Management detailed plans to open two regional businesses development offices. One office will be located in Grand Rapids, Michigan and the other will be located in Demopolis, Alabama.
Along with the regional office expansion will be a massive call center operation. The operation will be focused on expanding the company’s customer base into small commercial energy businesses. This will complement the existing midsize-ranged client base held by the energy division. Based on the massive success the energy division has had just in its home state, management is confident they will be able to replicate their quality customer service and product servicing in the new territories.
Innovest also recently announced that it has generated revenues of $388,000, through half of the first quarter 2018. This beat management’s estimates by 55% and puts the company well on its way to beating its goal of reporting $500,000 in revenue per quarter.
“Energy is moving to a single source efficiency model, and I feel like we are hitting the bullseye for how to grow,” details Damon Mintz, head of Innovest Energy Group. “We joined Innovest because we believed in the Innovest model and saw Innovest as a way to multiply our success, and to say that the system is working for us is an understatement. We couldn’t be happier with the decision and I’m so excited to take on the additional responsibility. It’s a great fit.”
The company is currently vetting PCAOB auditors to be engaged with the company and assist with auditing the financials. This will be the first step as the company looks to continue on the path to uplisting to higher exchanges. In past press releases, management has made clear that the company’s official corporate counsel is a qualified OTCQX Sponsor and goals to uplist to the Nasdaq within the next couple of years.
For more information on Innovest Global, Inc., please visit http://innovestglobal.com and http://spotlightgrowth.com/index.php/2018/02/28/1-stock-benefit-industrial-commercial-smart-lighting-applications-60-market-share-smart-lighting-market/
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