Correlate Infrastructure Partners and Leading IoT Consulting Group Launch Revenue Generation Program for Commercial Real Estate Owners
Correlate Infrastructure Partners Inc. announces the launch of the Correlate Portfolio Health Program with Abundant IoT, dedicated to co-developing a revenue generation program for commercial real estate owners. Correlate Infrastructure Partners is a portfolio-scale real estate platform that reduces friction between property owners and service providers to improve net operating income while meeting environmental, social and governance (ESG) goals. Abundant IoT is a provider of worldwide technology aggregation services focused on IoT and energy services.
Following a portfolio health assessment, Correlate and Abundant IoT will design, develop and manage the implementation of turnkey clean electrification solutions focused on locally sited solar, energy storage, EV infrastructure and intelligent efficiency measures. Since January 2022, Abundant IoT has identified and referred to Correlate over 50 commercial facilities with projected development revenue of approximately $10 million, which Correlate continues to negotiate and pursue with such property owners.
“The path to full decarbonization will take ambition and intentional execution,” said Todd Michaels, CEO and president of Correlate Infrastructure Partners. “By teaming up with industry innovators and experts, we can guide commercial real estate owners in creating new revenue and rent opportunities from their existing energy assets.”
Vince Bradley, founder of Abundant IoT, stated, “According to Transforma Insights research, the global IoT market is set to grow to 24.1 billion devices in 2030, generating $1.5 trillion in annual revenue. The time is now for IoT and decarbonization solutions in the channel. Cloud proliferation coupled with the pandemic has created the ideal market opportunity for a new channel model built around IoT. Combining energy, mobility and connectivity with the devices is a very powerful go-to-market package for customers.”
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The Correlate Portfolio Health Program enables commercial real estate owners to benefit from the global transition to clean energy without getting into the energy business. Owners can now start capturing new revenue and providing enhanced tenant benefits while also increasing the value of their commercial real estate portfolios.
The rise of remote work, increased corporate decarbonization commitments and growing investor demands for ESG standards mean more pressure on the commercial real estate industry to adapt. Real estate owners generate long-term value for investors, tenants, employees and communities by deploying the Correlate Portfolio Health Program across their portfolios.
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