CORRELATE ENERGY CORP - CIPI STOCK NEWS

Correlate Infrastructure Partners (CIPI) announced a remarkable growth in its Q3 2022 revenue, totaling $2.31 million, a significant increase from $236,690 in Q2 2022. This surge was attributed to the completion of construction milestones. The company highlighted project opportunities worth up to $194 million and reported $16.23 million in unrecognized revenue. Operating expenses rose to $2.43 million, fueled by hiring and acquisition activities. The positive impact of the Inflation Reduction Act on contract sizes and market expansion was emphasized.

Correlate Infrastructure Partners (OTCQB: CIPI) announced a nonbinding letter of intent to acquire Aegis Renewable Energy, a Vermont-based solar project developer. This strategic acquisition aims to enhance Correlate's capabilities in the Northeast renewable energy market. By leveraging Aegis's expertise in project fulfillment and regional regulations, Correlate seeks to expand its project backlog. The deal aligns with state goals for renewable energy, including Vermont's ambition to meet 90% of its energy needs from renewables by 2050. The acquisition is expected to close in Q4 2022.

Correlate Infrastructure Partners (OTCQB: CIPI) has partnered with Ultra Yield Solutions (UYS) to enhance energy efficiency in indoor growing facilities, particularly in controlled environment agriculture (CEA). This collaboration aims to reduce high energy use associated with indoor farming by providing LED lighting and energy management solutions. UYS, led by Chris Brown, focuses on horticultural lighting, while Correlate, under Todd Michaels, offers solar and storage solutions. This alliance is expected to lower operating costs and improve sustainability for CEA businesses, facilitating faster profitability.

Correlate Infrastructure Partners (OTCQB: CIPI) reported substantial growth in its financial results for Q2 2022, achieving revenues of $236,690 compared to $1,584 in Q2 2021. The increase is attributed to the transition to commercialization. Customer deposits reached $1,114,154, indicating strong demand, with $74 million in project opportunities currently in various stages. Operating expenses surged to $1,444,794 due to hiring and acquisition activities. The company anticipates significant revenue recognition from $100 million in current project opportunities and has a solid unrecognized revenue of $3.25 million.

Correlate Infrastructure Partners Inc. (CIPI) expresses optimism over a proposed U.S. climate bill aimed at reducing greenhouse gas emissions by 40% from 2005 levels by 2030. The bill introduces significant incentives, including a rise in the Investment Tax Credit (ITC) for solar projects from 26% to 30% for 2022, promising long-term growth for the solar industry, which has seen over 10,000% growth since 2006. With $370 billion allocated for climate initiatives, Correlate plans to leverage these changes to expand its operations in renewable energy, enhancing energy optimization and reducing carbon footprints for commercial properties.

Correlate Infrastructure Partners and Abundant IoT recently launched the Correlate Portfolio Health Program at the Channel Partner Conference and Expo. This initiative aims to deliver turnkey decarbonization solutions for commercial real estate owners, enhancing revenue generation while achieving ESG goals. Following an assessment, the program will provide solar, energy storage, and EV infrastructure solutions. Since January 2022, over 50 commercial facilities have been identified in collaboration with Abundant IoT, with projected revenues of approximately $10 million.

Correlate Infrastructure Partners Inc. (OTCQB: CIPI) has initiated its application process to uplist to the Nasdaq Exchange, aiming to enhance investor visibility and trading liquidity. The company is executing an acquisition strategy to meet Nasdaq's listing criteria. CEO Todd Michaels highlighted that this move could significantly improve market visibility and attract institutional investors. CFO Channing Chen emphasized their commitment to increased trading quality and enhanced visibility for both U.S. and international investors.

Correlate Infrastructure Partners (OTCQB: CIPI) launched its new platform, Correlate Portfolio Health, designed to optimize energy usage for commercial real estate owners. This platform provides detailed energy-saving recommendations and connects users to funding opportunities for energy-efficient upgrades.

With no upfront costs in select markets, building owners could see increased income ranging from $0.20 to over $1 per square foot through the platform’s recommendations. The initiative aims to enhance environmental sustainability while also promoting financial transparency and cost savings.