Ozop Energy Solutions Inc Stock Price, News & Analysis

Ozop Energy Solutions (OZSC) has announced the successful sale of its first Vehicle Service Contract (VSC) for Electric Vehicles (EVs) under a reinsurance agreement with American Bankers Insurance Company of Florida (ABIC). The contract was sold at Beaver Toyota for a 2022 Tesla Model 3, incorporating battery coverage. CEO Brian Conway emphasized the importance of this sale as a significant step in establishing premium EV insurance products. The VSC, marketed through Trusted Sale Inc., aims to meet consumer demand for EV security and enhance OZOP's position in the growing EV market.

Ozop Energy Solutions (OZSC) has partnered with Cirba Solutions to introduce a comprehensive battery recycling program for its dealership network. This multi-year contract addresses the growing need for sustainable practices amidst the increasing adoption of electric vehicles (EVs) in the US. Cirba Solutions will manage battery collection, logistics, and processing, enhancing Ozop's commitment to sustainability. This initiative aims to expand turnkey solutions and improve the circular battery supply chain, positioning Ozop as a leader in EV battery management.

Ozop Energy Solutions (OZSC) provides an update regarding its subsidiary, Ozop Energy Systems, Inc. (OZOP), following the termination of multiple employees for cause. A lawsuit has been filed against these former employees for allegedly misrepresenting product pricing and engaging in fraudulent activities with a third-party company, Your Home Solution Corp (YHS). Despite these challenges, OZOP reports securing product sales for Q4 and orders for 2023, aiming for long-term positive cash flow.

Ozop Energy Solutions (OZSC) has partnered with Sansone Jr’s Windsor Nissan as the first dealership to sell Vehicle Service Contracts (VSCs) for Electric Vehicles (EVs). This agreement, facilitated by GSFSGroup, allows the dealership to market EV VSCs, giving customers added peace of mind. Ozop can earn up to $500 in agent fees for each VSC sold. CEO Brian Conway expressed optimism about expanding to thousands of dealerships in the future, highlighting Ozop Plus’s ambition to be a leading provider in the EV insurance market.

Ozop Energy Solutions (OZSC) announced the successful completion of initial lighting commissioning projects by its subsidiary, OZOP Engineering and Design (OED), for a national furniture company. These projects are part of a larger effort involving over forty locations. CEO Brian Conway expressed pride in the team's timely execution and noted positive relationships with manufacturers leading to new opportunities. OED is also seeing increased demand due to New York's Energy Code 97, aimed at enhancing energy efficiency before 2025.

Ozop Energy Solutions (OZSC) has entered into an Agent Agreement with Royal Administration Services to market vehicle service contracts (VSC) specifically for electric vehicles (EVs). This partnership allows Ozop to assume risk related to EV batteries for a premium based on VSC duration and vehicle specifics. VSCs will cover new and used cars from model year 2017 and newer, offering peace of mind for EV buyers. The filing process for these VSCs will begin in all 50 states, enhancing Ozop's position in the growing EV insurance market.

Ozop Energy Solutions (OZSC) has signed an agreement with GSFSGroup to market vehicle service contracts (VSC) specifically for electric vehicles (EVs). The collaboration aims to leverage Ozop's experience in battery collection and disposal, as well as insurance risk sharing, in developing EV VSCs that include battery repair and replacement. CEO Brian Conway noted the project's progress and the intent to recruit industry agents to increase market penetration. This agreement is seen as a crucial step in Ozop's long-term revenue strategy for the EV sector.

Ozop Energy Solutions (OZSC) announced significant revenue growth, expecting approximately $4.879 million for Q2 2022, up from $1.274 million in Q2 2021, marking a 283% increase year-over-year. For the six months ended June 30, 2022, revenues are anticipated at $7.961 million, a 285% increase compared to $2.070 million in 2021. The California division contributed $4.516 million in sales. CEO Brian Conway expressed confidence in future revenues, expecting Q4 2022 to surpass Q3 revenues.

Ozop Energy Solutions (OZSC) announces its subsidiary, Ozop Plus, is a premier sponsor for the Reinsurance Symposium at The Agent Summit Conference in Las Vegas from May 15-18, 2022. The conference, aimed at general agents, provides a platform for Ozop Plus to introduce itself as a battery reinsurer for electric vehicles (EVs). CEO Brian Conway emphasized their goal to enhance vehicle service contracts (VSCs) covering EV batteries. The company aims to leverage its expertise in battery technology and expand its sales and marketing efforts through partnerships with insurance agents.