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.
About Dalrada Financial Corporation
Dalrada Financial Corporation (Dalrada) is a progressive organization that drives innovation to impact people, businesses, and the planet positively. The company owns and operates a global group of clean energy, precision manufacturing, advanced technology, and health care service companies and produces disruptive climate technology products and services that mitigate the negative impact of climate change.
Since 1982, Dalrada has boldly addressed global climate challenges with transformative innovations that drive targeted advances for a new era of human behavior and interaction. Dalrada companies are on the leading edge of developing and applying next-generation science, engineering, and technology, creating product and service offerings that significantly reduce energy costs and remove previous barriers, delivering a more sustainable and prosperous future for us all.
Dalrada’s subsidiaries and strategic partners operate in the United States, United Kingdom, Malaysia, and India and are centrally managed from the company’s San Diego, CA headquarters. For more information, please visit www.dalrada.com, and follow us on LinkedIn, Facebook, and Twitter.
Statements in this press release that are not historical facts are forward-looking, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions, and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the US Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.