The company will begin selling class-leading home heat pumps, staking its claim on a U.S. market expected to reach $30 billion within 10 years.
SAN DIEGO, April 2, 2024 (GLOBE NEWSWIRE) — Dalrada Financial Corporation (OTCQB: DFCO, “Dalrada”, the “Company”) today announced the formation of its wholly-owned subsidiary, Dalrada Home, Inc. We drive the fast-growing domestic heat pump market by offering high-efficiency, cost-saving heat pumps specifically designed for residential use and hinting at further developments.
Dalrada's superior line of home heat pumps fits the majority of single-family homes in the United States that are 850 square feet or larger. The planned product lineup will be announced within 3-4 weeks, with priority shipping available approximately 4 weeks later.
Dalrada's home heat pump announcement comes as governments and public agencies in the U.S. and around the world continue to ramp up decarbonization efforts, targeting heat pumps to address ongoing climate and environmental challenges. It was held inside.
According to a 2023 report, the U.S. residential heat pump market is valued at more than $13 billion and is expected to reach nearly $30 billion by 2032. Similarly, the global market is expected to reach $165 billion by 2032.
Reports that the home heat pump market is growing in the US also highlight the fact that heat pumps have officially overtaken the number of gas furnaces sold in the US, with Americans purchasing more than 4.3 million units by 2022. This is not surprising considering the 2017 survey. Compare the number of heat pump units to approximately 3.9 million natural gas furnaces.
Brian Bonner, Founder and CEO of Dalrada, said: “We are committed to providing environmentally friendly heating and cooling solutions by introducing competitively priced home heat pumps developed for today's market. “We are responding to the global call to develop integrated solutions.” “There is a huge need for climate change technologies like this, and our machines bring innovation that reduces energy costs and carbon emissions for households,” he added.
Dalrada's new home heat pumps are designed to be highly efficient, allowing homeowners to meet their home's heating, ventilation, and air conditioning (HVAC) needs. Additionally, there are incentives available for installing heat pumps, such as the Internal Revenue Service's (IRS) Energy Efficient Home Improvement Credit, which can provide homeowners with benefits of more than $2,000 per year.
While Dalrada's innovative industrial and commercial heat pumps address large-scale heating and cooling needs, the company's entry into the residential heat pump market is an exciting revelation and a partnership with proven suppliers and builders. This was made possible by securing an exclusive distribution agreement.
For now, Dalrada expects to expand its distribution capabilities and expand its consumer base of home builders, general contractors, and individual homeowners, while continuing to develop proprietary machines that will further revolutionize the home heat pump industry. ing.
“Revenues from our residential heat pumps are expected to be reflected in this quarter ending June 30, 2024. We would like to encourage our partners to keep up to date with news and updates as we continue to engage in this promising market. I encourage you to pay attention,” Bonner said.
About Dalrada Corporation
Dalrada Financial Corporation (OTCQB: DFCO) is a multinational holding company that develops, manufactures and markets powerful products and services in the clean energy and healthcare sectors. Dalrada's core segments include Dalrada Climate Technology, which provides cutting-edge heat pump technology for industrial and residential applications, and Genefic Specialty Pharmacy, which provides end-to-end prescription services and patient advocacy and support. It is included.
Dalrada Financial Corporation consistently drives innovation for maximum impact, creating greater value for our shareholders.
For more information, please visit www.dalrada.com or follow us on LinkedIn, Facebook, Twitter and YouTube.
Forward-looking statements
Statements contained in this press release, other than statements of historical fact, include, among other things, statements regarding cost reductions and anticipated pre-tax savings from cost reduction programs, cost restructuring, footprint rationalization and streamlining of our operations. and statements about streamlining, reducing complexity, and strengthening systems. The speed with which we make decisions utilizing our procurement capabilities and the timing of implementation and completion of cost reduction programs are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the following beliefs: and management's assumptions based on information available to the Company at the time such statements are made. These statements generally include words such as “will,” “believe,” “expect,” “intend,” “anticipate,” “estimate,” “anticipate,” “plan,” and “project.” ”, and similar expressions are made as of the date hereof and involve certain risks and uncertainties, and we undertake no obligation to update them. Forward-looking statements are subject to the occurrence of many events and actual results beyond our control, and the timing of events is subject to a number of factors that involve substantial known and unknown risks. may differ materially from those suggested or implied by such forward-looking statements. Uncertainty. Factors that may affect our success are disclosed in more detail in our most recent public filings with the Securities and Exchange Commission (“SEC”), including our Annual Report on Form 10-K. Masu.
Media Contact: Michael Eslinger (meslinger@dalrada.com)
