Altus Power, Inc. Announces Inclusion in the iShares Global Clean Energy ETF

Rhea-AI Summary

Altus Power, a leader in commercial-scale solar facilities, announced its inclusion in the iShares Global Clean Energy ETF (NYSE: ICLN), effective immediately. This recognition underscores Altus Power's commitment to clean energy, enhancing its visibility among investors focused on sustainability. The company's leadership believes this inclusion will generate long-term profitable growth while aligning with environmentally-conscious investments.

However, the company cautions that future performance is subject to various risks, including potential acquisition delays and integration challenges. Stakeholders are encouraged to review the 'Risk Factors' in Altus Power's Form 10-K for a comprehensive understanding of the risks involved.

Positive

• Inclusion in the iShares Global Clean Energy ETF enhances Altus Power's visibility among sustainability-focused investors.
• Leadership believes this inclusion will drive long-term profitable growth.

Negative

• Potential delays in pending acquisitions could affect timely closings.
• Integration of new solar assets poses risks to operational profitability.
• Possible litigation or regulatory actions related to acquisitions may impact business operations.

STAMFORD, Conn.--(BUSINESS WIRE)-- Altus Power, Inc. (“Altus Power” or the “Company”) (NYSE: AMPS), the premier independent developer, owner, and operator of commercial-scale solar facilities, announced it has been added to the iShares Global Clean Energy ETF (NYSE: ICLN), effective today. The iShares Global Clean Energy ETF seeks to track the investment results of an index composed of global equities in the clean energy sector.

“We’re pleased our business of serving customers with clean electricity has been recognized with our addition to the iShares Global Clean Energy ETF,” said Sophia Lee, Chief Sustainability Officer of Altus Power. “Our company is aligned with our fellow constituents in the ETF, which prioritize clean energy and sustainability in their businesses.”

“We believe that Altus Power’s addition to the iShares Global Clean Energy ETF will continue to raise our profile among investors seeking to align their investments with their environmental values,” said Gregg Felton, Co-CEO of Altus Power. “We believe generating long-term profitable growth while advancing a more sustainable future for our customers creates a powerful combination for current and prospective investors.”

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements may be identified by the use of words such as "aims," "believes," "expects," "intends," "aims", "may," “could,” "will," "should," "plans," “projects,” “forecasts,” “seeks,” “anticipates,” “goal,” “objective,” “target,” “estimate,” “future,” “outlook,” "strategy," “vision,” or variations of such words or similar terminology that predict or indicate future events or trends or that are not statements of historical matters. These statements, which involve risks and uncertainties, relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable and may also relate to Altus Power’s future prospects, developments and business strategies. These statements are based on Altus Power’s management’s current expectations and beliefs, as well as a number of assumptions concerning future events.

Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Altus Power’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (1) the risk that pending acquisitions may not close in the anticipated timeframe or at all due to a closing condition not being met; (2) failure to obtain required consents or regulatory approvals in a timely manner or otherwise; (3) the ability of Altus Power to successfully integrate the acquisition of solar assets into its business and generate profit from their operations; (4) the ability of Altus Power to retain customers and maintain and expand relationships with business partners, suppliers and customers; (5) the risk of litigation and/or regulatory actions related to the proposed acquisition of solar assets; and (6) the possibility that Altus Power may be adversely affected by other economic, business, regulatory, credit risk and/or competitive factors.

Additional factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found under the heading “Risk Factors” in Altus Power’s Form 10-K filed with the Securities and Exchange Commission on March 30^th, 2023, as well as the other information we file with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made and the information and assumptions underlying such statement as we know it and on the date such statement was made, and Altus Power undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, changes in expectations, future events or otherwise.

This press release is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Altus Power and is not intended to form the basis of an investment decision in Altus Power. All subsequent written and oral forward-looking statements concerning Altus Power or other matters and attributable to Altus Power or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.

About Altus Power, Inc.

Altus Power, based in Stamford, Connecticut, is the premier commercial-scale clean electrification company serving commercial, industrial, public sector and community solar customers with an end-to-end solution. Altus Power originates, develops, owns and operates a network of locally sited solar generation, energy storage and charging infrastructure across the nation. Visit www.altuspower.com to learn more.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230424005517/en/

Altus Power:

Chris Shelton

Head of IR

InvestorRelations@altuspower.com

Source: Altus Power, Inc.

FAQ

What does Altus Power's inclusion in the iShares Global Clean Energy ETF mean?

Altus Power's addition to the ETF enhances its visibility and aligns its operations with investors' sustainability goals.

What is the impact of being added to the ICLN ETF for Altus Power?

Being added to the ICLN ETF is expected to raise Altus Power's profile among socially responsible investors.

What risks does Altus Power face after joining the ICLN ETF?

Altus Power faces risks such as potential acquisition delays and challenges integrating new assets, which could affect profitability.

How will Altus Power's stock be affected by its addition to the ICLN ETF?

The addition may potentially attract more investment, but risks associated with acquisitions could impact stock performance.