- Correlate will set up a 908-kW rooftop solar project at Continental Envelope’s Geneva, Illinois headquarters
- Once completed, this project will provide over 1.2 million kilowatt-hours of clean energy and power 20-25% of the facility’s overall energy needs
- Engineering work has already commenced on the project, with construction projected to start in the summer of this year
- Correlate’s management is confident that once done, this project will showcase what the company can do and how achievable energy forward-thinking is for manufacturing businesses of all kinds and sizes across the world
Since its inception, Correlate Infrastructure Partners (OTCQB: CIPI) has created an industry-leading energy solution and financing platform focusing on the commercial and industrial sectors.
This stems from the fact that there is a significant untapped opportunity in these two areas, starting with the much-needed clean-energy upgrades necessary to achieve U.S. 2050 carbon goals. In an assessment conducted by the company, it has been established that, for the carbon goals to be achieved, at least 200,000 commercial buildings should be retrofitted every year until that date, representing a 5-10 time increase over the 2022 industry process run rate.
In a move that seeks to bring the company closer to achieving this goal, it has partnered with Continental Envelop to set up a 908-kW rooftop solar project which, once completed, will power 20-25% of the facility’s overall energy needs.
Continental Envelope manufactures 2 billion envelopes every year and counts some of the leading brands in the U.S. as clients, including Netflix, AT&T, Capital One, and American Express. The company’s headquarters, located in Geneva, Illinois, where the solar project will be located, is 84 years old, with the company itself being in operation since the 1930s (https://ibn.fm/QX2pL).
Given its efforts to embrace and adopt clean energy, Continental Envelope has been termed one of the greenest envelope factories in the country. The move to install the rooftop solar project only seals that title and sets the company apart from its peers.
Engineering work on the solar project kicked off on April 18, 2022, with construction estimated to start in the summer of this year. The project will feature 1667 solar energy modules with the capacity to produce over 545 watts each. Once done, the entire project will provide over 1.2 million kilowatt-hours of clean energy and offset over 18,849 tons of carbon dioxide over the next 20 years, according to the EPA’s Greenhouse Gas Equivalencies Calculator.
“Correlate Infrastructure Partners is pleased to move forward with the Continental Envelope solar project, which will contribute to the modernization of their electricity generation supply and improve its sustainability,” noted Correlate’s Chief executive Officer (“CEO”), Todd Michaels.
“We are grateful to partner with this innovative family business as we lead the printing and manufacturing industry toward clean, efficient, and renewable generation without compromising reliability,” he added.
Correlate’s management is confident that this project will show how achievable energy forward-thinking is, not just for printing but also for manufacturing businesses worldwide. It also believes that it will showcase the company’s capacity to execute a project of this size, plan and create an innovative building health program of activities designed to set companies on the path toward Net-Zero.
“This solution for Continental envelope is a demonstration of Correlate’s commitment to designing and building customer-centric energy projects that not only deliver profitable sustainability, but also leverage local and national incentives and technology like solar and storage to provide meaningful financial benefit to our customers’ bottom line,” noted Jason Loyet, the Director of Solar Energy & Storage with Correlate
For more information, visit the company’s website at 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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