Dalrada Executes Corporate Restructuring to Increase Focus on its Core Climate Technologies Business and reduce
SG&A by approximately $3 Million Annually
San Diego, CA – June 28, 2023 – Dalrada Financial Corporation (OTCQB: DFCO), an American company focused on global transformative environmental innovations with a multi-prong technological and operational approach to mitigate the negative impacts of global climate change; today announced details about its corporate restructuring effort with an increased focus on Climate Technology (‘ClimateTech’) to accelerate long-term growth and profitability.
As earlier reported, the company has reorganized its Board of Directors to accelerate the development of its US and Global Expansion. The Board of Directors is conducting a full review of Dalrada’s divisions and product offerings in their specific markets to consolidate select sectors, with an increased focus on ClimateTech tools and services. The driving forces will be the amalgamation of the Company’s Likido and Dalrada Energy Services divisions (which will be renamed ‘Dalrada ClimateTech’). Dalrada expects the net savings from the restructuring to be approximately US $3 Mill annually, with revenue growth to ramp up by the first quarter of 2024 and reaching profitability by the fourth quarter of 2024.
The Dalrada ClimateTech development and manufacturing division is headquartered in the United Kingdom, at the epicenter of European ESG (‘Environmental, Social, and Governance’). This increased manufacturing capacity in the center of Europe will allow for more immediate expansion into the quickly advancing European Green Energy market. Dalrada’s ClimateTech division helps organizations meet ESG goals and standards while mitigating adverse environmental impacts and increasing operations’ efficiency and profitability. The Company expects the Dalrada ClimateTech division to be the most significant growth opportunity for the company.
To support and accelerate growth opportunities in the US market, the company opened a demonstration site in Las Vegas in May of this year to showcase the ClimateTech heat pump’s capabilities.
Dalrada centrally manages its divisions throughout the US, Europe, and Asia from Escondido, California. Dalrada 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 visitwww.Dalrada.com.
About Dalrada (DFCO)
Dalrada Financial Corporation (OTCQB: DFCO) produces disruptive climate tech products and services that mitigate the negative impact of climate change and accelerate positive global 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 Financial Corporation is committed to positively impacting people, businesses, and the planet through efficient and sustainable solutions. For more information, please visit www.dalrada.com, and follow us on Twitter, Facebook, and LinkedIn.
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 regarding 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.