Correlate (OTCQB: CIPI), a growth-oriented distributed energy company, today announced that it has converted most of its debt into equity. This follows the June 14, 2024, finalization of agreements with debtholders to convert more than $7 million of its outstanding notes payable and approximately $1 million of long term accounts payable into equity. According to the announcement, this debt-to-equity conversion strengthens the company’s balance sheet and positions it for continued growth. “The debt-to-equity conversion is a crucial step in our strategy to enhance our financial strength and support our ambitious growth plans,” said Todd Michaels, CEO of Correlate Energy. “By reducing our debt, we are better positioned to invest in our innovative decarbonization projects and capitalize on the growing demand for industrial energy solutions.”
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About Correlate Energy Corp.
Correlate 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 multitrillion-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. For more information about the company, visit www.Correlate.Energy/investors.
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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