Atlantic Power & Infrastructure Reports 55% Year over Year Growth and Provides Shareholder Update
Atlantic Power & Infrastructure Corp. (OTC PINK:AWSL) reported impressive financial growth in 2021, with sales increasing by 55% to USD $3,619,901 and net income rising 498% to USD $224,152. Total assets surged by 378% to USD $3,537,995. The company highlighted successful installations of its Flexi®-Pave product across various high-profile projects and acquired a 54% stake in KB Industries UK Ltd. Additionally, AWSL is negotiating to acquire a tire recycling facility, enhancing its vertical integration in recycled tire granules for construction applications. Future updates are anticipated.
- Sales increased 55% to USD $3,619,901.
- Net income rose 498% to USD $224,152.
- Total assets grew by 378% to USD $3,537,995.
- Successful installations of Flexi®-Pave across multiple high-profile projects.
- Acquired 54% controlling interest in KB Industries UK Ltd.
- None.
TAMPA BAY, FL / ACCESSWIRE / April 5, 2022 / Atlantic Power & Infrastructure Corp. (OTC PINK:AWSL) is pleased to announce strong year over year sales and provide a shareholder update.
Strong growth in 2021
Despite a world economic slowdown caused by COVID-19 restrictions, the Company delivered strong growth over the past year.
Sales for the year 2021 were USD
Net income for the year 2021 was USD
Other highlights from the 2021 Annual report included an increase in total assets to USD
To view the full annual report and other recent filings visit OTCMarkets.com and view AWSL filings.
Recent high-profile installations
The company also had several high-profile installations of our Flexi® -Pave in places such as UK's H2 High Speed Rail, Utah's Red Bute Gardens, Georgia Atlanta Belt Line, Florida Bay Village Memory Care, Tennessee Stones River National Battlefield, Connecticut's Seaside Park, New Orleans Alma Peters Park, Illinois Collinsville Willoughby Heritage Farm & Conservation Reserve, New York's Beechmont Lake Restoration Trail, and several years of installations at Montana's Yellowstone Park.
In the second half of 2021 the company acquired
New Acquisition
The Company is currently in advanced negotiations to purchase am interest in a mid-west USA tire recycling facility. The facility would allow for vertical integration of the Recycled Tire granule supply for KBI`s Scrap tire Construction Products.
A Memorandum of Understanding has also been signed to finance the acquisition and retro fit of the plant to allow the Company to manufacture the specific Recycled Tire Granule required for the production KBI Flexi® -Pave utilized in Infrastructure especially "Storm Water Applications".
Management looks forward to announcing additional updates in the near future.
About Flexi®-Pave
Flexi®-Pave uses the natural, vulcanized strength of scrap tires, along with KBI's proprietary technology, and converts the "Recycled Tire Granules" into proven, sustainable infrastructure construction products. This massively porous but strong structural material can be used for a variety of infrastructure applications with demonstrated success. Applications include storm water management, water treatment and shoreline protection projects, including ship docks. Flexi®-Pave offers long and short-term permeability, flexibility, crack resistance (even freeze-thaw conditions) trip hazard resistance and slip resistance. Notable locations include Yellowstone National Park; Arlington National Cemetery; Seaside Park's Band Shell, City of Bridgeport, Connecticut; Red Butte Gardens, Utah; Atlanta Georgia's Iconic Beltline; Kew Botanical Gardens, London England
About Atlantic Power and Infrastructure Corp.
Atlantic P&I provides environmental technologies including converting recycled tire material into proven, sustainable infrastructure products. Its flagship product Flexi®-Pave's resounding strength, flexibility and porous nature which protects from land erosion has led to its use in high profile shoreline break walls and other marine and infrastructure projects. The Company's water purification technology removes harmful algae blooms from freshwater rivers and lakes, and Red Tide algae blooms from salt water. The Company further plans to utilize its existing bi-products and relationships to produce waste to energy power generation.
Submit enquiries to:
enquiries@apaicorp.com
Visit: www.AtlanticPIC.com
Tel. ++1 (727) 723-3300
Disclaimer: Shareholders and investors are strongly cautioned against placing undue reliance on information set forth within this website and these communications in making any investment decisions concerning our securities. The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the Company's periodic reports filed with the OTCMarkets.com including the company's Annual Report, Quarterly Reports and other periodic filings. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements. Nothing within this site is meant to be a solicitation to buy.
SOURCE: Atlantic Power and Infrastructure Corp.
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https://www.accesswire.com/696014/Atlantic-Power-Infrastructure-Reports-55-Year-over-Year-Growth-and-Provides-Shareholder-Update
FAQ
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