Correlate Infrastructure Partners, Inc.
Solar facility will provide clean power, reducing carbon emissions by approximately 20%-25% annually for manufacturing facility. Construction is expected to begin this summer.
BOISE, Idaho, May 05, 2022 (GLOBE NEWSWIRE) — via InvestorWire — Correlate Infrastructure Partners Inc. (OTCQB: CIPI) (“Correlate” or the “Company”) today announces that final engineering, permitting and interconnection work has begun on the Geneva, Illinois, facility where the Company has contracted to install a large-scale rooftop solar project.
The massive rooftop solar project is being constructed at the headquarters of Continental Envelope, an 84-year-old company. The project is located at Continental Envelope’s manufacturing plant, which produces 2 billion envelopes per year. The clean energy system is the perfect complement to Continental’s “Pushing the Envelope” Community Gardens surrounding the property.
“Correlate Infrastructure Partners loves supporting ESG-focused businesses that are making a true difference in their industries and communities. This attractive project makes clear that sustainability and profitability are no longer at odds. This is a call to action, Chicagoland!” stated Todd Michaels, CEO of Correlate. “We are grateful to partner with this innovative family business that shows the printing industry can be more efficient and renewable without compromising reliability or profitability.”
Continental Envelope has been one of the leading independent manufacturers of commercial envelopes since the 1930s and counts some of the largest brands in the nation as clients, including American Express, Capital One, AT&T and Netflix.
The solar project, which is expected to be operable by Q3 2022, will power approximately 20%-25% of the facility’s overall energy needs when commissioned. The solar system will provide low-cost, fixed-priced energy, with no price volatility for decades to come.
In accordance with the EPA’s Greenhouse Gas Equivalencies Calculator, over the next 20 years it’s expected that the 908-kW solar project will offset approximately 18,849 tons of carbon dioxide from the atmosphere, which is equivalent to 42 million car miles driven or the planting of 282,000 trees.
“This kind of energy forward-thinking is achievable for printing and manufacturing businesses of all types and sizes across the world. The Continental Envelope family put a lot of thought and planning into how they would become a more sustainable business, and we’ve created an innovative building health program that will set them on the path toward net-zero carbon,” stated David Bailey, chief revenue officer for Correlate Infrastructure Partners.
Jason Loyet, director of Commercial Solar for Correlate, added, “This solution for Continental Envelope is a demonstration of Correlate’s commitment to designing and building customer-centric energy solutions that not only deliver profitable sustainability but create great jobs and visibility in the local community.”
About Correlate Infrastructure Partners Inc.
Correlate Infrastructure Partners Inc. (OTCQB: CIPI) offers a complete suite of clean energy solutions for the commercial real …….