On Thursday, the Correlate Infrastructure Partners Inc (OTCMKTS:CIPI) stock was stuck in a range and there was not much action, however, at the same, it should be noted that the company did make a significant announcement. Correlate Infrastructure announced yesterday that the last stage of the interconnection, engineering and permitting work in relation to the facility in Geneva in Illinois had commenced.
Market Action
On Thursday, CIPI stock ended flat at $1.35 with 2.4K shares, compared to its average volume of 618 shares. The stock moved within a range of $1.3500 – 1.3500 after opening trade at $1.35.
Correlate Infrastructure Partners to Install One of Illinois’ Largest Rooftop Solar Power Facilities for One of the World’s Greenest Envelope Factories
It was a major new announcement considering the fact that the company has been contracted for the purpose of installing a large scale rooftop solar project at the site. That being said, the announcement did not lead to any excitement among investors and the stock remained largely unmoved.
Correlate has been contracted to build the huge solar project at the headquarters of the company Continental Envelope, which has been in business for more than 80 years. The project is situated at the manufacturing facility of Continental, where it makes as many as 2 billion envelopes each year. Correlate is looking to help the envelope company in hitting is milestone with regards to environmental aims and it now remains to be seen if the latest announcement can lead to any kind of strong move in the stock today.
Key Quote
“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.”
 Stock In Focus After Recent Development){kind=link}