NetworkNewsBreaks – Correlate Infrastructure Par
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Posted On: 11/14/2022 3:20:30 PM
NetworkNewsBreaks – Correlate Infrastructure Partners Inc. (CIPI) Announces Record Revenue in Q3 2022, Provides Business Update
Correlate Infrastructure Partners (OTCQB: CIPI), a tech-enabled development, finance and fulfillment platform for distributed energy solutions across North America, has announced financial results for the third quarter ended Sept. 30, 2022, and year-to-date ended Sept. 30, 2022. Among the highlights, the company reported $2,312,577 in total revenue for the three months ended Sept. 30, 2022, compared to $236,690 for the three-month period ended June 30, 2022. The significant increase resulted from completion of construction milestones in contracted projects. “We continue to make smart choices to optimize our organic project delivery based on a dynamic 2022 regulatory and supply chain landscape. The Inflation Reduction Act enacted in late August provided new tax incentives that reduce costs for clients and/or elevate returns to investors; this led to larger contract sizes with redesigns to domestic content. While this meant delaying some project starts, it will be a big net gain, and will open new markets for us in 2023,” said Todd Michaels, chief executive officer of Correlate. “With this in mind, we have finalized our M&A plans through Q2 2023 and seek to close our first acquisition by year end.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Correlate Infrastructure Partners (OTCQB: CIPI), a tech-enabled development, finance and fulfillment platform for distributed energy solutions across North America, has announced financial results for the third quarter ended Sept. 30, 2022, and year-to-date ended Sept. 30, 2022. Among the highlights, the company reported $2,312,577 in total revenue for the three months ended Sept. 30, 2022, compared to $236,690 for the three-month period ended June 30, 2022. The significant increase resulted from completion of construction milestones in contracted projects. “We continue to make smart choices to optimize our organic project delivery based on a dynamic 2022 regulatory and supply chain landscape. The Inflation Reduction Act enacted in late August provided new tax incentives that reduce costs for clients and/or elevate returns to investors; this led to larger contract sizes with redesigns to domestic content. While this meant delaying some project starts, it will be a big net gain, and will open new markets for us in 2023,” said Todd Michaels, chief executive officer of Correlate. “With this in mind, we have finalized our M&A plans through Q2 2023 and seek to close our first acquisition by year end.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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