Correlate Infrastructure Partners (OTCQB: CIPI), a technology-enabled energy optimization and clean-energy solutions provider for North America, has entered into a nonbinding letter of intent (“LOI”) outlining its plans to acquire a top-10 solar, battery storage and roofing provider based in California. According to the announcement, the target company focuses on sales and self-performance construction of solar and roofing services for residential and commercial properties; CIPI anticipates the acquisition to be complete and accretive by the second half of this year, marking the “next evolution” of the company as a community-scale distributed energy company. Highlights of the agreement include expanded national leadership in key markets; expertise in regional permitting and interconnection for key residential and commercial solar-plus storage markets; integrated digital technologies; and a loyal user base of sales partners and end customers; cost efficiencies that improve market position. Once the acquisition is complete, the company also anticipates the aggregation of tens of thousands of residential and commercial customer sites and electric vehicles into distributed, virtual power plants (“VPPs”) that can provide grid services and community-scale resilience. “While Correlate continues to innovate its core platform services for commercial properties, we are actively integrating complementary energy service providers that align with our mission and strengthen our regional execution prowess,” said Correlate Infrastructure Partners CEO and president Todd Michaels in the press release. “We intend to create one of the first profitable and truly scalable distributed energy platforms in all of North America that ensures an optimum customer experience long term.”
To view the full press release, visit https://ibn.fm/4P1xT
About Correlate Infrastructure Partners Inc.
Correlate Infrastructure Partners offers a complete suite of clean-energy solutions for the commercial real estate industry. Correlate is a portfolio-scale development and finance platform offering commercial and industrial facilities access to clean electrification solutions focused on locally sited solar, energy storage, EV infrastructure and intelligent efficiency measures. Its unique data-driven approach is powered by proprietary analytics, management services, and a highly scalable national fulfillment network to help building owners profit from fully funded, turnkey decarbonization and facility health programs. For more information about the company, please visit 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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