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Aspiration has appointed Olivia Albrecht as its new Chief Executive Officer, succeeding Andrei Cherny. Albrecht, previously Chief Sustainability Officer, will lead Aspiration's strategy as it accelerates growth in the carbon credit market. Under her leadership, Aspiration is projected to achieve over 200% YoY revenue growth. The company is also set to merge with InterPrivate III Financial Partners Inc. (NYSE: IPVF), enabling Aspiration to become a listed Public Benefit Corporation, reinforcing its commitment to social good and sustainable operations.
The International Finance Corporation, along with Cultivo, Aspiration, and Chia Network, has launched the Carbon Opportunities Fund, a platform aimed at raising private capital for sourcing, tokenizing, and selling verified carbon credits. This initiative targets the voluntary carbon markets, enhancing access to financing for nature-based projects. The Fund will utilize innovative technologies for monitoring carbon credits and aims to standardize credits in emerging markets, addressing the climate crisis and promoting sustainable income for local communities.
Aspiration has appointed Tim Newell as its first Chief Innovation Officer, focusing on developing next-generation sustainability services. Newell, formerly Deputy Director of the Office of Science and Technology Policy under the Clinton administration, aims to enhance Aspiration's sustainable financial offerings. With over 7 million consumer members, Aspiration continues to grow through partnerships with organizations like the LA Clippers and Deloitte. The company is also merging with InterPrivate III Financial Partners (NYSE: IPVF) to become a Public Benefit Corporation.
The Boston Red Sox have partnered with Aspiration to neutralize greenhouse gas emissions for fans attending games at Fenway Park. Aspiration will embed a Planet Protection contribution within each ticket purchase, facilitating climate action for fans. This partnership aligns with the Red Sox's commitment to sustainability established in 2007, enhancing their green initiatives. Aspiration is also set to merge with InterPrivate III Financial Partners (NYSE: IPVF), becoming a publicly listed Public Benefit Corporation. This collaboration establishes a new standard for climate accountability in sports.
Aspiration has announced strategic partnerships with Deloitte, LA Clippers, and Blue Apron to promote sustainability. Deloitte will plant trees to reduce carbon footprints, while LA Clippers aim to create a climate-positive arena. Blue Apron customers can offset their carbon impact through Aspiration's program. Aspiration is set to merge with InterPrivate III Financial Partners Inc. (NYSE: IPVF), transitioning into a publicly traded Public Benefit Corporation focused on sustainability. The partnerships highlight a collective goal to engage in impactful climate action.
Aspiration Partners reported a remarkable fourth quarter of 2021 with revenues soaring to $38.5 million, a 604% increase year-over-year. Gross profits reached $31.7 million, up 977%. For the full year, revenues totaled $100.6 million, a 584% increase, alongside a gross profit of $79.4 million. Despite these gains, the company recorded an Adjusted EBITDA loss of $120.4 million. Aspiration secured $315 million in equity financing and announced strategic acquisitions to enhance their sustainability technology offerings.
