Correlate Infrastructure Partners (OTCQB: CIPI), a technology-enabled provider of energy optimization and clean energy solutions for the U.S. commercial real estate industry, is reporting its audited annual financial numbers for the year ending Dec. 31, 2021. Highlights of the report include revenue for the year of $98,446 compared with $170,719 for fiscal year 2020 and gross profit of $9,695 compared to a loss of $65,259 in 2020. The company noted that the reduction in revenue was the result of its heavy focus in R&D and technology build-out now being commercialized in 2022. CIPI operating expenses decreased to $84,944 compared to $119,129 for 2020 and operating loss for 2021 totaled $75,249 compared to $184,338 reported in the previous year. Corporate highlights for the company included the completion of two strategic acquisitions, both now wholly owned subsidiaries: Correlate Inc. and Solar Site Design. The company also initiated a comprehensive rebranding campaign, initiated a change in company name and ticker symbol and named new board members. In addition, Correlate announced that it is partnering with InvestorBrandNetwork (“IBN”) for its corporate communications needs. IBN is a multifaceted financial news and publishing company for private and public entities.
“Our leadership team made great strides to execute our market development strategy in 2021,” said Correlate Infrastructure Partners president and CEO Todd Michaels in the press release. “We focused on integrating key technologies while building a scalable client backlog of 2022 projects, which included completing the acquisitions of Correlate and Solar Site Design as wholly owned subsidiaries. We assembled a rare, nationally recognized management team to execute this backlog while aggressively scaling our technology and fulfillment capacities to match our growth rate and market opportunity. In 2022, we anticipate revenues to increase with the expansion of operations, sales channels and repeat business from our 2021 portfolio of national accounts. The post pandemic U.S. commercial and industrial market has approximately 6.8 million facilities applicable for our solution to increase building owner net income. With only about 3% of those facilities currently being addressed, demand is very high. We couldn’t be more confident and excited about our position for tremendous growth.”
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About Correlate Infrastructure Partners Inc.
Correlate Infrastructure Partners, formerly Triccar Inc., through its subsidiaries Correlate and Solar Site Design, offers a complete suite of proprietary clean-energy assessment solutions for the commercial real estate industry. Correlate believes scaling distributed clean energy solutions is critical in mitigating the effects of climate change. We believe that we are at the forefront in creating an industry-leading energy solution and financing platform for the commercial and industrial sector. Correlate sees tremendous market opportunity in reducing site-specific energy consumption and deploying clean energy generation and energy efficiency solutions at scale. For more information about the company, please visit www.Correlateinfra.com.
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