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ConnectM Expands Greentech Renewables Heat Pump Relationship With Additional $865,000 Order; Cumulative Commitments Now Exceed $2.6 Million
Globenewswire· 2026-01-27 16:54
Core Viewpoint - ConnectM Technology Solutions, Inc. has received an additional purchase order worth $865,000 from Greentech Renewables for high-efficiency heat pumps, bringing the total commitments to approximately $2.6 million [1][2]. Group 1: Company Developments - The new order includes ConnectM's high-efficiency indoor/outdoor hyper-heat units, multizone outdoor units, thermostats, and electric heat kits [2]. - The cumulative commitments now total $2.6 million, which includes a previously announced order of $1.7 million [1]. Group 2: Market Demand and Strategy - There is an increasing demand from contractors in New Hampshire for high-efficiency, all-electric comfort solutions, indicating a trend towards electrification projects [3]. - ConnectM's President of Home & Building Electrification emphasized that distribution-led scale is crucial for expanding the adoption of Keen Heat Pumps, highlighting the importance of Greentech's contractor network [3]. Group 3: Company Background - ConnectM operates a constellation of technology-driven businesses focused on the modern energy economy, offering AI-powered electrification, distributed energy, last-mile delivery, and industrial IoT solutions [4]. - Greentech Renewables is a leading distributor of solar and electrical products in the U.S., providing extensive support to contractors across more than 100 locations [4].
ConnectM Up-lists to OTCQB, Restoring Stockholder Liquidity and Advancing Toward Major Exchange Goals    
Globenewswire· 2025-10-06 12:30
Core Insights - ConnectM Technology Solutions, Inc. has successfully transitioned its common stock to the OTCQB Venture Market, enhancing trading access and visibility for shareholders [1][2] - The company has achieved significant financial milestones, including a 70% year-over-year revenue increase in Q2 2025 and substantial debt reduction [5][6] Financial Management Progress - Revenue Growth: Q2 2025 revenue increased approximately 70% year-over-year to $8.5 million; first-half 2025 revenue rose approximately 69% to $17.5 million [5] - Debt Reduction: The company retired approximately $13.2 million in liabilities in Q2 2025 and approximately $15.8 million across the first half of 2025 [5] - Lower Interest Expense: Interest expense declined 84.1% year-over-year in Q2 2025 and 48.3% in the first half of 2025, primarily due to prior debt conversions [5] Outlook - The company expects continued revenue momentum in the second half of 2025, supported by order backlog, organic expansion initiatives, and synergies from recent acquisitions [6] - ConnectM intends to pursue high-growth opportunities through targeted mergers and acquisitions to broaden service offerings and expand into strategic geographies [6] - Management remains focused on disciplined expense management, operating leverage, and balance-sheet improvements [6] Advantages of OTCQB - Greater transparency and higher credibility due to current SEC reporting obligations and annual verification requirements [3] - Increased visibility and improved liquidity, allowing normal market access for brokers [4] - Qualification for a penny stock exemption, facilitating broader broker and investor access to shares [4]