Atlantic Power & Infrastructure's Q1 Reports 623% Year over Year Growth and Records Profitability

Rhea-AI Summary

Atlantic Power & Infrastructure Corp. (OTC PINK:AWSL) reports strong Q1 2022 financial results, showcasing impressive year-over-year growth. Sales reached $1,479,855, a remarkable 623% increase from Q1 2021's $237,267. The company also recorded a net profit of $188,588 compared to a net loss of $(142,442) in the previous year.

President & CEO Kevin Bagnall emphasized the robust demand for their Flexi®-Pave product as a contributing factor to this growth. For more details, visit the company's financial report on OTC Markets.

Positive

• Sales increased by 623% year-over-year, reaching $1,479,855.
• Net profit of $188,588, reversing a loss of $142,442 in Q1 2021.
• Strong demand for Flexi®-Pave from new and repeat customers in the US and UK.

Negative

• None.

TAMPA BAY, FL / ACCESSWIRE / June 8, 2022 / Atlantic Power & Infrastructure Corp. (OTC PINK:AWSL) is pleased to announce strong year over year sales and profitability in Q1 2022.

Strong growth in 2022

2022 has continued to show strong growth for Atlantic Power & Infrastructure with 1st quarter sales of $1,479,855 compared to 2021 q1 of $237,267, an increase of more than 623% year over year.

Profitability also improved recording a net profit of $188,588 for q1 compared to a net loss of $(142,442) for q1 2021.

Kevin Bagnall, Atlantic Power & Infrastructure's President & CEO commented "we are pleased with the continued improvement in both our sales growth and profitability. I believe the strong demand in our Flexi^® - Pave line from new and repeat customers in the US and UK is a testament to customer satisfaction."

To view the full quarterly report and other recent filings visit https://www.otcmarkets.com/otcapi/company/financial-report/334568/content

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.

View source version on accesswire.com:
https://www.accesswire.com/704155/Atlantic-Power-Infrastructures-Q1-Reports-623-Year-over-Year-Growth-and-Records-Profitability

FAQ

What were the Q1 2022 sales figures for AWSL?

In Q1 2022, Atlantic Power & Infrastructure (AWSL) reported sales of $1,479,855, a 623% increase from Q1 2021.

Did AWSL report a profit or loss in Q1 2022?

Atlantic Power & Infrastructure (AWSL) reported a net profit of $188,588 in Q1 2022, compared to a net loss of $(142,442) in Q1 2021.

What is the main product contributing to AWSL's growth?

The main product contributing to growth for Atlantic Power & Infrastructure (AWSL) is Flexi®-Pave, which has seen strong demand from customers.