- Correlate focuses on enabling building owners to reduce their facilities’ energy use or install clean energy solutions such as solar energy
- The company designs, engineers, finances, and builds such solutions and other upgrades, enabling owners, who may include real estate investment trusts (“REITs”), to meet their Environmental, Social, and Governance (“ESG”) targets
- Investors are increasingly conscious about whether companies espouse ESG values, and Correlate is helping REITs fulfill such requirements
- Recently, Correlate announced it has entered a contract for a major rooftop solar energy project in New Jersey
Correlate Infrastructure Partners (OTCQB: CIPI) is a portfolio-scale real estate platform focused on eliminating barriers for large-scale property owners looking to optimize their buildings’ energy footprint and meet their sustainability goals. The company recognizes that while owners understand that they can reduce energy use by installing better technologies or meet their sustainability objectives by generating clean energy onsite, they face a decision-making dilemma. Usually, property owners find it difficult to establish the right approach.
The company has therefore modeled its operations around this problem. First, correlate uses technology to assess buildings to identify solutions that can be deployed therein. Next, it provides the capital needed to make the necessary updates. And once the installations and upgrades are complete, its team monitors the buildings 24/7 and maintains the technologies to ensure they are in top-notch shape throughout the service life.
Correlate’s focus on offering solutions that help building owners to meet their sustainability goals and reduce the energy consumed by tenants in their facilities could not have come at a better time, given the rising wave of consciousness around Environmental, Social, and Governance (“ESG”) values. Vast swathes of investors are increasingly looking to invest in companies that espouse ESG, giving rise to ESG investing.
According to the CFA Institute, ESG investors are commonly motivated by the desire to “incorporate ethical principles, values, or religious beliefs into investment decisions; avoid ESG risks that may negatively affect the value of investments; mitigate the negative impacts of investments on the environment and other people; and contribute, wholly or partially, to the attainment of specific, positive, measurable, or social outcomes” (https://ibn.fm/nivGi).
Correlate’s business model allows scores of real estate investment trusts (“REITs”) – companies that finance, operate, or own income-generating real estate – to implement ESG initiatives and, by extension, partially or wholly fulfill ESG investors’ requirements. With a recent report by Nareit showing that such companies continue to be at the forefront of sustainable building innovation (https://ibn.fm/T0Cye) by, among other things, increasingly using onsite renewables, Correlate’s offerings are enabling them to meet their ESG targets, whilst simultaneously saving up on energy costs and reducing greenhouse gas emissions.
Just recently, Correlate Infrastructure Partners announced it had entered an agreement valued at more than $2 million for a major rooftop solar energy project in New Jersey. The company has designed, engineered, and will finance and construct the project, which is expected to be operational in Q4 2022 (https://ibn.fm/VrrBK).
“Corporate America is stepping up their measurable actions to meet investor-driven ESG mandates,” said Correlate President and CEO Todd Michaels, “and why wouldn’t they, it’s tremendously profitable for them. In New Jersey, our clients will typically save at least 20% on day one while converting 70% of the facility’s electricity use to carbon-free solar energy. With Correlate, customers put up zero capital and simply get cheaper, clean power at a fixed price. That’s an infinite return.”
On his part, Correlate CFO Channing Chen stated that private real estate investment groups across the country are actively seeking the company’s services. “They are experiencing volatile energy costs that are adversely affecting their profitability and need a real strategy and execution vehicle to reduce their GHG emissions. We believe that our solutions solve two problems for our clients, while conforming to their corporate procurement rules. It’s a true game changer for those on the sidelines looking to catch up,” Chen added.
For more information, visit the company’s website at www.CorrelateInfra.com.
NOTE TO INVESTORS: The latest news and updates relating to CIPI are available in the company’s newsroom at https://ibn.fm/CIPI
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