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Energy Services Of America Acquires Solar Installation Business
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NITRO, W.V., May 3, 2021 /PRNewswire/ Energy Services of America Corporation (the Company or Energy Services ) (OTC QB: ESOA) announced that its Nitro Construction Services Inc. ( Nitro ) subsidiary completed the purchase of substantially all the assets of Revolt Energy, Inc. ( Revolt Energy ), a solar installation company located in Nitro, West Virginia. Founded in 2019, Revolt Energy is a leader in residential solar projects in southern West Virginia that is expanding its focus to the commercial and industrial markets.
The asset purchase, completed on April 30, 2021, marks Nitro s commitment to the growing solar and renewable energy industry. Revolt Energy is in the process of completing a 487-kilowatt solar array system consisting of approximately 1,200 solar panels that will soon power Nitro s office and fabrication shop facilities. Nitro and Revolt
Energy Services Of America Announces Financial Results
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HUNTINGTON, W.V., Dec. 11, 2020 /PRNewswire/ Energy Services of America Corporation (the Company or Energy Services ) (OTC QB: ESOA), parent company of C.J. Hughes Construction Company and Nitro Construction Services, announced financial results for the fiscal year ended September 30, 2020. Energy Services earned revenues of $119.2 million with an income before tax of $3.6 million for fiscal year 2020. The Company s income tax expense was $3.8 million, of which $2.7 million related to non-deductible Paycheck Protection Program (PPP) qualified expenses resulting in a net loss available to common shareholders of ($533,000) for the fiscal year 2020. The Company had adjusted EBITDA of $8.1 million for fiscal year ended September 30, 2020.