Today, Source Financial, Inc. (OTCQX: SRCF) announced the signing of an Agreement and Plan of Merger with CSES Group, Inc., developer of environmentally friendly, sustainable, and cost-efficient refrigerant technology. Upon completion of the merger, CSES Group will become a wholly owned subsidiary of Source Financial.
As government mandates completely phase out HCFCs and R-22 refrigerant, the demand for compliant refrigerants like alltemp® will dramatically accelerate this $20 Billion annual market. CSES Group’s alltemp® refrigerant has been successfully tested at several Fortune 100 companies’ facilities, demonstrating significant average savings in energy consumption while maintaining capacity (link to results: https://www.alltempsolutions.net/results/).
CSES Group recently raised more than $4.5 million to increase capacity of alltemp® to $100 million per month at its 6,000 sqft state-of-the-art plant in Oregon, expand its product line, and hire a worldwide sales force to market its line of products.
“The transition from the private to public markets will help CSES gain significant exposure, propel the company into a leadership position in the environmental services industry, and provide broader access to capital and global partnerships, as needed, for expansion plans. Our plan is to rapidly accelerate the Company’s growth to bring long-term value to shareholders,” stated Bill Lopshire, CSES CEO.
Further information about the Agreement and Plan of Merger can be found on the Form 8K, filed January 25, 2017.
For more information on alltemp®, visit www.alltempsolutions.net
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