BOISE, Idaho, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Correlate Energy Corp. (OTCQB: CIPI) (“Correlate” or the “Company”), a growth-oriented distributed energy company, is delighted to announce the commissioning and successful construction of one of Illinois’ largest rooftop solar power facilities at Continental Envelope’s manufacturing plant in Geneva, Illinois. Watch the client testimonial video here.
Continental Envelope, a pioneering independent manufacturer of commercial envelopes since the 1930s, boasts an esteemed clientele that includes well-known companies in the finance, telecommunications, and entertainment industries.
The rooftop solar project, initiated in April 2022, has now reached commercial operation, with the engineering, permitting, and interconnection work completed. This clean energy system has been seamlessly integrated into Continental Envelopes 84-year-old printing facility, which produces an impressive 2 billion envelopes annually.
The commissioned solar project is now fully operational, and it will supply approximately 20%-25% of the facility’s overall energy requirements. By providing low-cost, fixed-priced energy for decades to come, this solar system ensures energy stability and promotes environmental sustainability.
Based on the Environmental Protection Agency’s Greenhouse Gas Equivalencies Calculator, the 908-kW solar project is estimated to offset approximately 18,849 tons of carbon dioxide over the next 20 years. This reduction is equivalent to removing 42 million car miles from the road or planting 282,000 trees.
Elan Margulies, Project Manager of Continental Envelope, remarked, “Our electrical costs increased 600% since moving in which made us interested in solar for an eco-friendly solution to our electric costs. Collaborating with Correlate, we analyzed and found this project made economic sense.”
Correlate Energy takes immense pride in contributing to the realization of Continental Envelope’s green vision and remains committed to supporting businesses that prioritize environmental responsibility without compromising efficiency or profitability.
About Correlate Energy Corp.
Correlate Energy Corp. (OTCQB: CIPI) is a publicly traded company strategically positioned to capitalize on America’s unstoppable trend toward decentralized energy generation. The company employs a three-pronged strategy to create stockholder value from this multi-trillion-dollar trend. First, Correlate seeks to finance, develop, and profitably sell localized clean energy solutions and microgrids to industrial, commercial, and residential customers. Secondly, Correlate plans to retain ownership of some of these energy systems and thereby realize ongoing, reliable cash flow. Third, Correlate seeks to acquire proven renewable energy companies in order to exponentially grow earnings per share for investors. Correlate’s management and board consist of industry experts who, during their careers, have successfully financed, developed, and installed over two billion dollars of clean energy projects for their clients. To learn more, go to: https://www.correlate.energy/investors.
Correlate Energy Corp.
This news release may include forward-looking statements regarding Correlate Energy Corp., its subsidiaries, business and project plans. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where Correlate Energy Corp. expresses or implies an expectation or belief about future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Correlate Energy Corp. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.