BOISE, Idaho, April 21, 2022 via InvestorWire
Correlate Infrastructure Partners Inc. (OTCQB: CIPI) (“Correlate”), a technology-enabled energy optimization and clean energy solutions provider for the U.S. commercial real estate industry, today announces entering a $2M+ contract for a major rooftop solar energy project in New Jersey. Correlate Infrastructure Partners has designed, engineered and will finance and construct the project with an estimated commercial operation date in Q4 2022.
“Corporate America is stepping up their measurable actions to meet investor-driven ESG mandates,” said Todd Michaels, CEO and Correlate president, “and why wouldn’t they, it's tremendously profitable for them. In New Jersey, our clients will typically save at least 20% on day one while converting 70% of the facility's electricity use to carbon-free solar energy. With Correlate, customers put up zero capital and simply get cheaper, clean power at a fixed price. That’s an infinite return.”
Correlate Infrastructure Partners CFO Channing Chen said, “private real estate investment groups across the nation are seeking our services. They are experiencing volatile energy costs that are adversely affecting their profitability and need a real strategy and execution vehicle to reduce their GHG emissions. We believe that our solutions solve two problems for our clients, while conforming to their corporate procurement rules. It’s a true game changer for those on the sidelines looking to catch up.”
According to the EPA’s Greenhouse Gas Equivalencies Calculator, over the next 20 years it’s expected that this one-megawatt solar project will offset 19,185 tons of carbon dioxide from the atmosphere, which is equivalent to 43 million car miles driven or the planting of 287,000 trees.
About Correlate Infrastructure Partners Inc.
Correlate Infrastructure Partners, Inc., formerly Triccar, Inc., through its subsidiaries Correlate and Solar Site Design, offers a complete suite of proprietary clean-energy assessment solutions for the commercial real estate industry. Correlate believes scaling distributed clean energy solutions is critical in mitigating the effects of climate change. We believe we are at the forefront of creating an industry-leading energy solution and financing platform for the commercial and industrial sector. Correlate sees a tremendous market opportunity in reducing site-specific energy consumption and deploying clean energy generation and energy efficiency solutions at scale. For more information about Correlate and its subsidiaries, please visit www.correlateinfra.com.
This news release may include "forward-looking statements" regarding Correlate Infrastructure Partners, Inc., its subsidiaries, business and project plans. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where Correlate Infrastructure Partners, Inc. expresses or implies an expectation or belief about future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Correlate Infrastructure Partners, Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Correlate Infrastructure Partners Inc.
Los Angeles, California