Wall Street Signals: FOMO CORP.’S TARGET SMARTGUARD ENERGY EXPANDS ENERGY EFFICIENCY BUSINESS

FOMO CORP.’S TARGET SMARTGUARD ENERGY EXPANDS ENERGY EFFICIENCY BUSINESS


FOMO CORP. (https://www.fomoworldwide.com/ - US OTC: FOMC) is pleased to announce that its acquisition target, SmartGuard Energy (https://www.smartguard-solutions.com/-SGE), is beginning a pilot program for the installation of energy-efficient refrigeration technology in a major retail chain with over 400 stores throughout the Southwest U.S. As previously reported on September 30, 2021, FOMO is investing in an initial 40% membership interest in LED Funding IV LLC (LEDF) and Lux Solutions LLC (Lux) in a phased transaction that is expected to lead to the acquisition of 100% of each entity which will be owned and operated by a FOMO wholly-owned subsidiary, SmartGuard Energy LLC (Wyoming) that has already been created. Lux has been designated the energy efficiency coordinator for the retail chain pilot effort.

This energy-efficient refrigeration technology provides significant energy savings and, depending upon rebates, ROIs under one year. Upon confirmation of energy savings, the retail chain has indicated that it expects to authorize the installation of the technology in each of its locations. Estimated revenue from this project is projected to exceed significantly more than $10 million. The initial pilot program should be completed before Thanksgiving. Lux is discussing similar programs with other retail and convenience store chains throughout the U.S. Additionally, SmartGuard is in discussion with its Puerto Rican partner, ESCOPR, to deploy the technology in Puerto Rico.

Bill Butler, the SGE CEO, commented: "We are very excited about this pilot program and see an enormous growth opportunity with this new technology. The combination of innovative state-of-the-art energy savings technologies with access to capital to help accelerate sales is all part of our long-term growth strategy. We look forward to scaling this to other retail chains throughout the U.S. and to other verticals as well."

Vik Grover, FOMO CORP. CEO, said: “This is exactly the type of opportunity we envisioned for FOMO with the acquisition of SmartGuard Energy. They are well-positioned to expand their already impressive footprint in the energy management space. We expect to close our initial investment in LEDF and Lux (SGE) imminently. We are working hard to close the entire SGE deal by the end of 2021. SGE will take FOMO to the next level. Now it’s game time.”

About FOMO CORP.

FOMO CORP. is a publicly-traded company focused on business incubation and acceleration. The Company invests in and advises emerging companies aligned with a growth mandate. FOMO is developing direct investment and affiliations - the majority- and minority-owned as well as in joint venture formats - that afford targets access to the public markets for expansion capital as well as spin-out options to become their own stand-alone public companies.

Contact:

Wayman Baker, PhD
EVP Corporate Development
FOMO CORP.
(630) 286-9560
ir@fomoworldwide.com

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