Private company
Correlate Energy Corp.
American engineering services company based in Shreveport1
In its 2024 annual report the company says: “We focus on real estate assets that have a complex energy profile but do not have the resources of time, expertise, or capital available to invest in technology and sustainable infrastructure upgrades that will improve the net operating income and resiliency of those properties.”3
Last updated Oct 20, 2026.
Overview
- IndustryServices-Engineering Services1
- HeadquartersBoise, Idaho1
- Incorporated inNV2
- Business address176 S. Capitol Blvd, 2Nd Floor, Boise, Id 837022
- Filer categoryNon-accelerated filer, Smaller reporting company2
- Legal formCorporation
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Correlate Energy Corp., together with its subsidiaries (collectively the “Company”, “Correlate”, “we”, “us” and “our”), is a technology-enabled vertically integrated sales, development, and fulfillment platform focused on distributed clean and resilient energy solutions in North America.3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2023
Where the money goes
Where each dollar of revenue went, fiscal 2023
- Cost of revenue82¢$6.2M
- Other costs10¢$725.0K
- Interest9¢$656.7K
Out of $7.6M in revenue.4 The company lost money this year.
Financial statements
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Revenue | $1.1M5 | $1.1M6 | $892.3K6 | $170.7K7 | $98.4K7 | $3.4M4 | $7.6M4 |
| Cost of revenue | $236.0K7 | $88.8K8 | $3.2M4 | $6.2M4 | |||
| Gross profit | -$65.3K7 | $9.7K8 | $207.7K4 | $1.4M4 | |||
| Operating expenses | $84.9K8 | $5.9M4 | $7.6M4 | ||||
| Operating income | -$1.0M9 | -$885.6K6 | -$89.2K10 | -$184.4K7 | -$75.2K8 | -$5.7M4 | -$6.2M4 |
| Interest | $871.3K9 | $439.3K6 | $905.0K6 | $15.0K8 | $198.8K4 | $656.7K4 | |
| Income tax | $09 | $09 | |||||
| Net income | -$1.4M9 | -$886.3K6 | -$89.2K10 | -$184.4K7 | -$90.2K8 | -$7.2M4 | -$12.8M4 |
| Earnings per share | -$0.119 | -$0.066 | -$0.0110 | $0.0010 | $0.008 | -$0.208 |
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Cash | $17.2K6 | $11.6K10 | $74.3K7 | $74.4K7 | $252.2K8 | $96.3K8 | $1.4M4 |
| Receivables | $40.8K8 | $08 | |||||
| Current assets | $116.5K9 | $101.2K6 | $29.5K10 | $75.6K7 | $293.0K8 | $1.2M4 | $2.9M4 |
| Property, plant and equipment | $08 | $4.0K4 | $172.4K4 | ||||
| Goodwill | $762.9K8 | $762.9K4 | $762.9K4 | ||||
| Intangible assets | $261.6K8 | $313.7K4 | $740.1K4 | ||||
| Total assets | $3.8M9 | $3.2M6 | $29.5K10 | $75.6K7 | $1.5M8 | $2.3M4 | $4.6M4 |
| Accounts payable | $819.4K8 | $396.7K4 | $304.4K4 | ||||
| Current liabilities | $10.8M9 | $10.7M6 | $32.5K10 | $623.2K7 | $1.0M8 | $4.7M4 | $6.8M4 |
| Long-term debt | $8.0M5 | $8.0M6 | $20.4K8 | $344.6K8 | $7.0M4 | ||
| Total liabilities | $10.8M9 | $10.7M6 | $161.1K6 | $623.2K7 | $1.0M8 | $5.1M4 | $7.7M4 |
| Retained earnings | -$1.1M8 | -$8.3M4 | -$21.1M4 | ||||
| Shareholders’ equity | -$7.0M6 | $8.2K10 | -$363.2K7 | -$547.6K8 | $432.4K4 | -$2.8M4 | -$3.2M4 |
| Shares outstanding | 13.9M shares9 | 14.8M shares6 | 20.0M shares6 | 100.0M shares6 | 0 shares8 | 35.3M shares4 | 36.3M shares4 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Cash from operations | -$105.9K9 | -$10.7K6 | -$60.1K10 | $727 | -$39.6K8 | -$2.8M4 | -$2.4M4 |
| Depreciation and amortization | $08 | $68.1K4 | $250.6K4 | ||||
| Stock-based compensation | $08 | $2.0M4 | $2.5M4 | ||||
| Capital spending | $4.8K4 | $137.8K4 | |||||
| Free cash flow | -$2.8M | -$2.5M | |||||
| Cash from investing | $217.5K8 | -$4.8K4 | -$537.8K4 | ||||
| Cash from financing | $08 | $2.6M4 | $4.3M4 |
What it owns
What Correlate Energy Corp. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, net | $172.4K4 Dec 31, 2023 | $4.0K4 Dec 31, 2022 | +4204.5% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $96.3K8 Dec 31, 2022 | $252.2K8 Dec 31, 2021 | −61.8% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $762.9K4 Dec 31, 2023 | $762.9K4 Dec 31, 2022 | 0% |
| Finite-lived intangibles, gross | $1.0M4 Dec 31, 2023 | $380.9K4 Dec 31, 2022 | +163.3% |
| Accumulated amortization | $263.1K4 Dec 31, 2023 | $67.3K4 Dec 31, 2022 | +291.1% |
| Finite-lived intangibles, net | $740.1K4 Dec 31, 2023 | $313.7K4 Dec 31, 2022 | +135.9% |
Leadership
Who has led Correlate Energy Corp., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
- Chief executive officerTodd Robert Michaels Jan 31, 2022 to Jun 21, 202413
- Chief executive officerTim Burroughs Sep 22, 2006 to Feb 12, 201314
- PresidentTodd Robert Michaels Jan 31, 2022 to Jun 21, 202413
- PresidentTim Burroughs Sep 22, 2006 to Feb 12, 201314
- Chief financial officerLoren Van Themaat Johan Ver Jan 17, 2024 to Jan 17, 202415
- Chief financial officerCharles Michael Markovic Jul 25, 2024 to Jul 25, 202416
- Chief financial officerChanning F. Chen Feb 4, 2022 to Sep 12, 202217
- Chief financial officerKenneth Conte Feb 12, 2013 to Feb 12, 201318
Board members and other officers (13)
- Executive Vice PresidentCharles David York Feb 12, 2013 to Feb 12, 201319
- Vice PresidentSherri Cecotti Feb 12, 2013 to Feb 12, 201320
- Board memberChristine Gulbranson Jan 17, 2024 to Jan 17, 202421
- Board memberAlina Zagaytova Jan 18, 2024 to Jan 18, 202422
- Board memberEli Albrecht Oct 27, 2023 to Oct 27, 202323
- Board memberG. Robert Powell Jan 7, 2022 to Oct 11, 202324
- Board memberMatthew C. Flemming Jan 7, 2022 to Oct 11, 202325
- Board memberTodd Robert Michaels Jan 31, 2022 to Jun 21, 202413
- Board memberJason Loyet Feb 4, 2022 to Oct 27, 202326
- Board memberCory Gerald Hunt Feb 25, 2022 to Jun 21, 202427
- Board memberDaniel R. Robinson Feb 12, 2013 to Feb 12, 201328
- Board memberDonald R. Lawhorne Feb 12, 2013 to Feb 12, 201329
- Board memberTim Burroughs Sep 22, 2006 to Sep 22, 200614
Former names
Timeline
- Oct 8, 20248-K Executive or director change30
- Sep 30, 20248-K Executive or director change31
- Jul 8, 20248-K Executive or director change32
- Jun 20, 20248-K Entered a material agreement; Unregistered sale of shares; Bylaws or fiscal year changed33
- Apr 15, 20248-K Entered a material agreement34
- Jan 10, 20248-K Executive or director change35
- Sep 7, 20238-K Executive or director change36
- Aug 15, 20238-K Results of operations37
- Aug 7, 20238-K Executive or director change; Other events38
- Jan 23, 20238-K Unregistered sale of shares; Other events39
- Nov 14, 20228-K Results of operations40
- Sep 13, 20228-K Regulation FD disclosure41
- Jan 31, 2022New chief executive Todd Robert Michaels becomes CEO13
- Sep 22, 2006New chief executive Tim Burroughs becomes CEO14
Calendar
When it reported results
- Aug 15, 2023Reported quarterly or annual results37
- Nov 14, 2022Reported quarterly or annual results40
- Aug 17, 2022Reported quarterly or annual results42
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
86 filings to the SEC since October 2021: 5 annual reports, 12 quarterly reports, 17 major events, 27 insider forms, 4 private raises, 21 other. The latest 20:
- Mar 17, 2025SEC STAFF ACTION EDGAR
- Nov 19, 202410-Q EDGAR
- Nov 15, 2024NT 10-Q EDGAR
- Oct 8, 20248-K EDGAR
- Sep 30, 20248-K EDGAR
- Aug 14, 202410-Q EDGAR
- Jul 25, 20243 EDGAR
- Jul 8, 20248-K EDGAR
- Jun 21, 20244 EDGAR
- Jun 21, 20244 EDGAR
- Jun 20, 20248-K EDGAR
- May 30, 20244 EDGAR
- May 15, 202410-Q EDGAR
- Apr 26, 2024S-1/A EDGAR
- Apr 15, 20248-K EDGAR
- Apr 5, 2024S-1/A EDGAR
- Apr 1, 202410-K EDGAR
- Feb 16, 20244 EDGAR
- Jan 24, 2024S-1/A EDGAR
- Jan 18, 20243 EDGAR
The 86 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
3 open-market trades by officers, directors and large owners since October 2021: 3 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 24, 2023 | Michaels Todd RobertPresident and CEO | Buy | 6,577 | Form 4 | ||
| Sep 9, 2022 | Chen Channing F.Chief Financial Officer | Buy | 200 | $1.55 | $310 | Form 4 |
| Sep 8, 2022 | Chen Channing F.Chief Financial Officer | Buy | 800 | $1.50 | $1.2K | Form 4 |
From Forms 4 filed with the SEC.
Money raised
Private offerings the company reported to the SEC on Form D.
- Jan 24, 2023Raised $1.3 million in a private offering of debt Form D: $5 million offered in all Form D
- Jul 29, 2022Raised $250,000 in a private offering of debt Form D: $3 million offered in all Form D
- Jan 12, 2022Raised $1.4 million in a private offering of debt Form D: $3 million offered in all Form D
- Dec 14, 2021Raised $507,500 in a private offering of equity Form D: 13 investors so far Form D
SEC filer profile
How Correlate Energy Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARCorrelate Energy Corp.1
- CIK0001108645
- Employer ID (EIN)84-42504921
- Filer statusNon-accelerated filer<br>smaller reporting company1
- Incorporated inNevada1
- Fiscal year endsDecember 311
- Industry code (SIC)8711 Services-Engineering Services1
- SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
- Business address176 S. Capitol Blvd, 2Nd Floor, Boise, ID 837021
- Phone855-264-40601
- Shares outstanding78,280,884 as of Nov 14, 202412
- Public float$14.4M as of Jun 30, 20234
- On EDGAR sinceMar 10, 20001
- Filings292 in all: 10-Q (51), 8-K (51), 10QSB (22), 3 (20), 4 (20), 10-K (16), NT 10-Q (14), 8-K/A (9)1
All 36 form types
NT 10-K (8), 10KSB (7), 10-K/A (6), 10-Q/A (6), UPLOAD (6), 10SB12G/A (5), D (5), S-1/A (5), CORRESP (4), DEF 14A (4), DEF 14C (4), PRE 14C (4), S-8 (3), 10KSB/A (2), 10QSB/A (2), 10SB12G (2), PRER14A (2), RW (2), S-8 POS (2), SC 13G (2), 10KSB40 (1), 5 (1), NTN 10K (1), PRE 14A (1), S-1 (1), SC 13D (1), SC 13G/A (1), SEC STAFF ACTION (1)
- Latest filingsAnnual report (10-K) Apr 1, 2024
Quarterly report (10-Q) Nov 19, 2024
Proxy statement (DEF 14A) Aug 4, 2005
Latest 8-K (8-K) Oct 8, 2024
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 20SEC EDGARSherri Cecotti, Vice President
- 21SEC EDGARChristine Gulbranson, Board member
- 22SEC EDGARAlina Zagaytova, Board member
- 23SEC EDGAREli Albrecht, Board member
- 24SEC EDGARG. Robert Powell, Board member
- 25SEC EDGARMatthew C. Flemming, Board member
- 26SEC EDGARJason Loyet, Board member
- 27SEC EDGARCory Gerald Hunt, Board member
- 28SEC EDGARDaniel R. Robinson, Board member
- 29SEC EDGARDonald R. Lawhorne, Board member
- 30SEC EDGARExecutive or director change
- 31SEC EDGARExecutive or director change
- 32SEC EDGARExecutive or director change
- 33
- 34SEC EDGAREntered a material agreement
- 35SEC EDGARExecutive or director change
- 36SEC EDGARExecutive or director change
- 37SEC EDGARResults of operations
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- 40SEC EDGARResults of operations
- 41SEC EDGARRegulation FD disclosure
- 42