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Tuesday, May 21, 2024
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Dalrada Launches Home Inc. Subsidiary

MANUFACTURING: Expands into Heat Pump, Carbon Credit Markets

ESCONDIDO – Brian Bonar, CEO of Dalrada Financial Corporation (OTCQB: DFCO), initially wasn’t too hot on having his company get into the heat pumps business.

Although heat pumps have been booming – reports in 2022 said that heat pumps overtook the number of gas-powered furnaces sold in the U.S., with Americans purchasing more than 4.3 million heat pump units compared to about 3.9 million natural gas furnaces – he initially wasn’t inclined to pump Dalrada’s Climate Technology division into that market.

Brian Bonar
CEO
Dalrada Financial Corporation

“I personally did not want to be involved in home heat pumps,” Bonar said, laughing. “I thought it would be too difficult to sustain, and with the problems that come with installing things. But my board hit me over the head about a few things and said, ‘Oh, you want to do this!’ So I went with it.”

On April 2, Bonar’s company announced the formation of Dalrada Home Inc., a wholly owned subsidiary, to enter the home heat pump market by offering high-efficiency, cost-saving heat pumps specifically designed for residential use.

Dalrada’s range of home heat pumps, available within a month, are expected to fit the vast majority of American single-family homes, 850 square feet and more.

Two days after the Dalrada Home Inc. announcement, the company revealed that it had entered the carbon credit market, deploying a powerful software system and hardware device that manages energy usage.

“Whether for home or commercial use, our system was designed to work in virtually any setting,” Bonar said. “Another huge advantage is that this unique product is essentially plug-and-play and fully integrates with practically any machine that utilizes energy, especially heat pumps.”

Dalrada, which reported $29.7 million in revenue in 2023, is seeing a substantial rise of its worth in the market, although Bonar said he could not divulge actual dollar numbers.

“But suffice to say that when we publish our March quarterly results, the growth of the company from the prior quarter is going to be quite substantial,” Bonar said.

Opportune Moment

Dalrada’s carbon credit minting solution arrives at an opportune moment.

Government bodies and official agencies in the U.S. and around the world are ramping up their decarbonization efforts, targeting heat pumps to address ongoing climate and environmental concerns.

According to a 2023 report, the U.S. residential heat pump market was valued at more than $13 billion and is expected to reach nearly $30 billion by 2032. The global market is expected to reach $165 billion by 2032.

The company is well positioned to capitalize on this growth and by capturing just 1% of the expected market, Dalrada and its climate technology subsidiaries could see a $3.4 billion market share, in less than 10 years, Bonar said.

Dalrada’s compatible software and accompanying hardware device are slated to be available in less than three months. The company’s carbon credit minting system is also ideal for a variety of industries, including agriculture, manufacturing and food processing. The entire system represents an ecosystem and process that analyzes energy use in real-time and historical data from consumers and providers.

Anthony Zolezzi
Executive Vice Chairman
Dalrada Financial Corporation

“We’ve got a lot of really good stuff going on here with the green energy market,” said Anthony Zolezzi, Dalrada’s executive vice chairman. “With the heat pump technology and other technologies that we have, it’s super exciting for me – that’s why I joined the board here… and from a global basis from a planetary basis, it’s really good for people as well.”

The global carbon credit market is expected to reach $343 billion by 2032, as reported in a research study by Global Market Insights Inc.

A commitment to mitigating climate change along with the introduction of diverse schemes and voluntary carbon offset initiatives is expected to accelerate the business growth, GMI reported, encouraging public and private sectors to actively participate in carbon reduction initiatives — and fostering the market.

Prescriptive Growth Coming

Since its founding in 1982, Dalrada has become a multi-national holding company that develops, manufactures, and sells products and services in the clean energy and health care and sectors. Its wholly owned subsidiary, Genific, is a provider of frontline health products and services, end-to-end prescription services plus patient advocacy and support.

That sector also looks promising, Bonar said.

“We’re going to be soon announcing something on the very topical weight loss programs where you get these shots… the ones that reduce your weight over a number of years,” Bonar said, similar to Ozempic. “That will push our pharmacy sales more.”

Dalrada Financial Corporation
FOUNDED: 1982
CEO: Brian Bonar
HEADQUARTERS: Escondido
BUSINESS: Climate technology and healthcare
REVENUE: $29.7 million (2023)
STOCK: DFCO (OTCQB)
EMPLOYEES: 100+
WEBSITE: dalrada.com
CONTACT: 858-326-2661 or DFCOinquiries@dalrada.com
NOTABLE: Founder and CEO Brian Bonar has a B.S. in technical engineering and master’s in mechanical engineering and has an honorary title of Lord Bonar of Wilcrick, Cardiff, Wales, U.K.

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