BOISE, Idaho, May 24, 2023 (GLOBE NEWSWIRE) -- via InvestorWire -- Correlate Infrastructure Partners Inc. (OTCQB: CIPI), a leading technology-enabled vertically integrated sales, development and fulfillment platform focused on distributed clean and resilient energy solutions, is pleased to announce that it has successfully secured $11.9 million for its EnerSys solar project in Reading, Pennsylvania with Green Bridge Energy, a leading technology enabled investment platform focused on clean energy projects in the commercial and industrial market segment of the U.S.
The EnerSys Headquarters project was originally announced as a 3.8 MW project and was expanded to 5.2 MW and is slated to begin installation in Q3 2023. Once commissioned, the project will be one of the largest corporate solar installations in the Commonwealth of Pennsylvania. This endeavor exemplifies Correlate's deep experience in distributed energy, its commitment to advancing solar development in the Commonwealth and supporting the long-term sustainability goals of its partners.
"We are proud to announce that we have successfully secured capital for this important solar energy project," said Todd Michaels, CEO of Correlate. "Through our partnership with EnerSys, we are helping decarbonize the supply chain with a global market leader and furthering solar development in Pennsylvania. This achievement showcases our ability to drive the clean energy transition while delivering tangible benefits to our partners and communities."
“Efficient financing is critical to scale distributed energy profitably while offering customers a compelling economic value proposition. Our partnership with Green Bridge on the EnerSys project brings together two highly experienced teams to provide the most efficient and optimal clean energy financing solution to a global leader in stored energy,” said Channing Chen, CFO of Correlate.
“Demand for resilient, clean energy is rapidly growing for corporates and real estate owners across the U.S., and the EnerSys project demonstrates the significant value that can be created with the right partners,” said Byrne Huddleston, CEO of Green Bridge. “At Green Bridge, we deliver positive, long-term economic outcomes for real estate owners transitioning to clean energy.”
EnerSys is an industrial technology leader serving the global community with mission-critical stored energy solutions that meet the growing demand for energy efficiency, reliability and sustainability. While their products help address some of the world’s largest challenges, including the efficient and affordable distribution of goods, grid reliability, telecommunications, and electrification of customers’ previously fossil-fuel-driven operations, their internal efforts towards a low-carbon future are also a top company priority. The project also marks a major step forward in the clean energy transition for corporate infrastructure as a whole.
About Correlate Infrastructure Partners Inc.
Correlate Infrastructure Partners Inc. (OTCQB: CIPI), together with its subsidiaries, is a technology-enabled vertically integrated sales, development and fulfillment platform focused on distributed clean and resilient energy solutions across North America. The Company’s integrated solutions include solar, cogeneration, energy storage, electric vehicle infrastructure and intelligent efficiency retrofits for community-scale applications. For more information, please visit: www.correlate.energy
About Green Bridge Energy
Green Bridge is an investment and technology platform that brings together best-in-class funding and optimization solutions for clean energy projects in the commercial and industrial market segment. Founded by former General Electric executives with over 35 years of clean energy infrastructure finance and development experience, Green Bridge operates a platform for clean energy project prioritization, investment, development, management, and operations with the goal of driving organization, scale and democratization of clean energy infrastructure across the U.S. We align long-term clean infrastructure business models into the project development and funding to drive maximum value and confidence to developers, end-users and the investor community. For general inquiries, please visit: www.greenbridge.energy or contact Green Bridge Energy at (206) 558-1198.
Correlate Infrastructure Partners Inc.
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.