Altus Power, Inc. Announces First Quarter 2024 Financial Results

First Quarter Financial Highlights

  • First quarter 2024 revenues of $40.7 million, a 38% increase as compared to first quarter 2023
  • GAAP net income of $4.1 million for first quarter 2024, an increase as compared to $3.8 million for first quarter 2023
  • Adjusted EBITDA* of $19.7 million for first quarter 2024, or a 23% increase as compared with first quarter 2023

Recent Business Highlights

  • Added ~4,000 Community Solar customers, bringing total to over 24,000
  • Increased portfolio size by 45% to 981 MW as compared to first quarter 2023
  • Projects with CBRE Investment Management begin construction in Maryland
  • Largest owner of commercial scale solar assets in the US1
  • Quarter ending cash balance of $204 million underpins financing plan
  • Alison Sternberg joins as Head of Investor Relations

STAMFORD, Conn.--()--Altus Power, Inc. (NYSE: AMPS) ("Altus Power" or the "Company"), the largest commercial scale provider of clean, electric power, today announced its financial results for first quarter of 2024.

“As the largest commercial scale solar owner and operator in the US, Altus Power is well positioned to capitalize on rising retail rates, and as artificial intelligence, electric vehicles, crypto, hydrogen and more drive unprecedented power demand, we believe these rising prices not only augment the value of our current portfolio but also drive demand for more clean power solutions," commented Gregg Felton, CEO of Altus Power. "One area of growth during the first quarter was Community Solar with the addition of 4,000 new residential customers, acquired in part from our partnership with CBRE."

First Quarter Financial Results

Operating revenues during the first quarter of 2024 totaled $40.7 million, compared to $29.4 million during the same period of 2023, an increase of 38%. The increase is primarily due to the increased number of solar energy facilities as a result of acquisitions and facilities placed in service during the past twelve months.

First quarter 2024 GAAP net income totaled $4.1 million, compared to $3.8 million for the same period of 2023. The increase was primarily driven by the non-cash gain from remeasurement of alignment shares.

Adjusted EBITDA* during the first quarter of 2024 was $19.7 million, compared to $16.0 million for the first quarter of 2023, a 23% increase. The year over year growth in adjusted EBITDA* was primarily the result of increased revenue from additional solar energy facilities, partially offset by an increase in our general and administrative expenses which was driven by an increase in personnel.

2024 Guidance

Altus Power reaffirms its expectation for operating revenues in the range of $200-222 million, and adjusted EBITDA* in the range of $115-135 million, representing 36% and 34% growth over 2023 at the midpoints, respectively.

Investor Relations Transition

Alison Sternberg joins Altus Power as Head of Investor Relations from Fubo where she was SVP, Investor Relations, and brings more than 25 years of experience in investor relations and financial services at companies including Modular Wind Energy and Goldman Sachs.

Use of Non-GAAP Financial Information

*Denotes Non-GAAP financial measure. We present our operating results in accordance with accounting principles generally accepted in the U.S. (“GAAP”). We believe certain financial measures, such as adjusted EBITDA and adjusted EBITDA margin provide users of our financial statements with supplemental information that may be useful in evaluating our business. The presentation of non-GAAP financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.

We define adjusted EBITDA as net income plus net interest expense, depreciation, amortization and accretion expense, income tax expense or benefit, acquisition and entity formation costs, stock-based compensation expense, and excluding the effect of certain non-recurring items we do not consider to be indicative of our ongoing operating performance such as, but not limited to, gain or loss on fair value remeasurement of contingent consideration, gain or loss on disposal of property, plant and equipment, change in fair value of Alignment Shares liability, loss on extinguishment of debt, net, and other miscellaneous items of other income and expenses.

Adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial measures that we use to measure our performance. We believe that investors and analysts also use adjusted EBITDA and adjusted EBITDA margin in evaluating our operating performance. These measurements are not recognized in accordance with GAAP and should not be viewed as an alternative to GAAP measures of performance. The GAAP measure most directly comparable to adjusted EBITDA is net income and to adjusted EBITDA margin is net income over operating revenues. The presentation of adjusted EBITDA and adjusted EBITDA margin should not be construed to suggest that our future results will be unaffected by non-cash or non-recurring items. In addition, our calculation of adjusted EBITDA and adjusted EBITDA margin are not necessarily comparable to adjusted EBITDA and adjusted EBITDA margin as calculated by other companies and investors and analysts should read carefully the components of our calculations of these non-GAAP financial measures.

We believe adjusted EBITDA is useful to management, investors and analysts in providing a measure of core financial performance adjusted to allow for comparisons of results of operations across reporting periods on a consistent basis. Factors in this determination include the exclusion of (1) variability due to gains or losses related to fair value remeasurement of contingent consideration and the change in fair value of Alignment Shares liability, (2) strategic decisions to acquire businesses, dispose of property, plant and equipment or extinguish debt, and (3) the non-recurring nature of stock-based compensation and other miscellaneous items of income and expense, which affect results in a given period or periods. In addition, adjusted EBITDA represents the business performance of the Company before the application of statutory income tax rates and tax adjustments corresponding to the various jurisdictions in which the Company operates, as well as interest expense and depreciation, amortization and accretion expense, which are not representative of our ongoing operating performance.

Adjusted EBITDA is also used by our management for internal planning purposes, including our consolidated operating budget, and by our board of directors in setting performance-based compensation targets. Adjusted EBITDA should not be considered an alternative to but viewed in conjunction with GAAP results, as we believe it provides a more complete understanding of ongoing business performance and trends than GAAP measures alone. Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our results as reported under GAAP.

In addition to adjusted EBITDA, we may also refer to ARR or annual recurring revenues, or ARR, which is a non-GAAP measure. ARR is an estimate that management uses to determine the expected annual revenue potential of our operating asset base at the end of a calendar year. ARR assumes customary weather, production, expenses and other economic and market conditions, as well as seasonality. It is not derived from a GAAP financial measure so it is difficult to provide a meaningful reconciliation to GAAP. The elements of our financial statements that are considered or evaluated in determining our ARR are the following: the estimated megawatt hours of generation assuming all new build and operating assets added any time during the year were in place for the full year and the estimated power prices for such assets based on historical power prices. We believe this metric can be helpful to assess our portfolio asset base in operation at the beginning of an annual period, e.g., if we were to receive the benefit of assets added for a full year even if they were added during a partial year. This figure is only an estimate and is based on a number of assumptions by Altus Power's management that may or may not be realized.

Altus Power does not provide GAAP financial measures on a forward-looking basis because the Company is unable to predict with reasonable certainty and without unreasonable effort, items such as acquisition and entity formation costs, gain on fair value remeasurement of contingent consideration, change in fair value of Alignment Shares. These items are uncertain, depend on various factors, and could be material to Altus Power’s results computed in accordance with GAAP.

Adjusted EBITDA Definitions

Interest Expense, Net. Interest expense, net represents interest on our borrowings under our various debt facilities, amortization of debt discounts and deferred financing costs, and unrealized gains and losses on interest rate swaps.

Depreciation, Amortization and Accretion Expense. Depreciation expense represents depreciation on solar energy systems that have been placed in service. Depreciation expense is computed using the straight-line composite method over the estimated useful lives of assets. Leasehold improvements are depreciated over the shorter of the estimated useful lives or the remaining term of the lease. Amortization includes third party costs necessary to acquire PPA and NMCA customers, value ascribed to in-place leases, and favorable and unfavorable rate revenues contracts. Value ascribed to in-place leases is amortized using the straight-line method ratably over the term of the individual site leases. Third party costs necessary to acquire PPAs and NMCA customers are amortized using the straight-line method ratably over 15-25 years based upon the term of the customer contract. Estimated fair value allocated to the favorable and unfavorable rate PPAs and REC agreements are amortized using the straight-line method over the remaining non-cancelable terms of the respective agreements. Accretion expense includes over time increase of asset retirement obligations associated with solar energy facilities.

Income Tax (Expense) Benefit. We account for income taxes under ASC 740, Income Taxes. As such, we determine deferred tax assets and liabilities based on temporary differences resulting from the different treatment of items for tax and financial reporting purposes. We measure deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to reverse. Additionally, we must assess the likelihood that deferred tax assets will be recovered as deductions from future taxable income. We have a partial valuation allowance on our deferred state tax assets because we believe it is more likely than not that a portion of our deferred state tax assets will not be realized. We evaluate the recoverability of our deferred tax assets on an annual basis.

Acquisition and Entity Formation Costs. Acquisition and entity formation costs represent costs incurred to acquire businesses and form new legal entities. Such costs primarily consist of professional fees for banking, legal, accounting and appraisal services.

Stock-Based Compensation Expense. Stock-based compensation expense is recognized for awards granted under the Legacy Incentive Plans and Omnibus Incentive Plan, as defined in Note 14, "Stock-Based Compensation," to our condensed consolidated financial statements included in our Quarterly Report on Form 10-Q for the three months ended March 31, 2024.

Fair Value Remeasurement of Contingent Consideration. In connection with various acquisitions, contingent consideration may be payable upon achieving certain conditions. The Company estimates the fair value of contingent consideration using a Monte Carlo simulation model or an expected cash flow approach. Significant assumptions used in the measurement of fair value of contingent consideration associated with various acquisitions include market power rates, estimated volumes of power generation of acquired solar energy facilities, percentage of completion of in-development solar energy facilities, and the risk-adjusted discount rate associated with the business.

Gain or Loss on Disposal of Property, Plant and Equipment. In connection with the disposal of assets, the Company recognizes a gain or loss on disposal of property, plant and equipment, which represents the difference between the consideration received and the carrying value of the disposed asset.

Change in Fair Value of Alignment Shares Liability. Alignment Shares represent Class B common stock of the Company which were issued in connection with the Merger. Class B common stock, par value $0.0001 per share ("Alignment Shares") are accounted for as liability-classified derivatives, which were remeasured as of March 31, 2024, and the resulting gain was included in the condensed consolidated statements of operations. The Company estimates the fair value of outstanding Alignment Shares using a Monte Carlo simulation valuation model utilizing a distribution of potential outcomes based on a set of underlying assumptions such as stock price, volatility, and risk-free interest rates.

Other (Income) Expense, Net. Other income and expenses primarily represent interest income, and other miscellaneous items.

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements may be identified by the use of words such as "aims," "believes," "expects," "intends," "aims", "may," “could,” "will," "should," "plans," “projects,” “forecasts,” “seeks,” “anticipates,” “goal,” “objective,” “target,” “estimate,” “future,” “outlook,” "strategy," “vision,” or variations of such words or similar terminology that predict or indicate future events or trends or that are not statements of historical matters. These statements, which involve risks and uncertainties, relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable and may also relate to Altus Power’s future prospects, developments and business strategies. These statements are based on Altus Power’s management’s current expectations and beliefs, as well as a number of assumptions concerning future events.

Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Altus Power’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (1) the risk that pending acquisitions may not close in the anticipated timeframe or at all due to a closing condition not being met; (2) failure to obtain required consents or regulatory approvals in a timely manner or otherwise; (3) the ability of Altus Power to successfully integrate the acquisition of solar assets into its business and generate profit from their operations; (4) the ability of Altus Power to retain customers and maintain and expand relationships with business partners, suppliers and customers; (5) the risk of litigation and/or regulatory actions related to the proposed acquisition of solar assets; and (6) the possibility that Altus Power may be adversely affected by other economic, business, regulatory, credit risk and/or competitive factors.

Additional factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found under the heading “Risk Factors” in Altus Power’s Form 10-K filed with the Securities and Exchange Commission on March 14th, 2024, as well as the other information we file with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made and the information and assumptions underlying such statement as we know it and on the date such statement was made, and except as required by applicable law, Altus Power undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, changes in expectations, future events or otherwise.

This press release is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Altus Power and is not intended to form the basis of an investment decision in Altus Power. All subsequent written and oral forward-looking statements concerning Altus Power or other matters and attributable to Altus Power or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.

Conference Call Information

The Altus Power management team will host a conference call to discuss its first quarter 2024 financial results later today at 4:30 p.m. Eastern Time. The call can be accessed via a live webcast accessible on the Events & Presentations page in the Investor Relations section of Altus Power's website at https://investors.altuspower.com/events-and-presentations/default.aspx. An archive of the webcast will be available after the call on the Investor Relations section of Altus Power's website as well.

About Altus Power, Inc.

Altus Power, based in Stamford, Connecticut, is the largest commercial-scale provider of clean electric power serving commercial, industrial, public sector and Community Solar customers with end-to-end solutions. Altus Power originates, develops, owns and operates locally-sited solar generation, energy storage and charging infrastructure across the nation. Visit www.altuspower.com to learn more.

 

Altus Power, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
(In thousands, except share and per share data)

 
 

 

Three Months Ended
March 31,

 

 

2024

 

 

 

2023

 

Operating revenues, net

$

40,659

 

 

$

29,378

 

Operating expenses

 

 

 

Cost of operations (exclusive of depreciation and amortization shown separately below)

 

10,920

 

 

 

5,976

 

General and administrative

 

10,022

 

 

 

7,362

 

Depreciation, amortization and accretion expense

 

16,130

 

 

 

11,376

 

Acquisition and entity formation costs

 

1,066

 

 

 

1,491

 

(Gain) loss on fair value remeasurement of contingent consideration, net

 

(79

)

 

 

50

 

Gain on disposal of property, plant and equipment

 

(88

)

 

 

 

Stock-based compensation

 

4,304

 

 

 

2,872

 

Total operating expenses

$

42,275

 

 

$

29,127

 

Operating (loss) income

 

(1,616

)

 

 

251

 

Other (income) expense

 

 

 

Change in fair value of Alignment Shares liability

 

(26,077

)

 

 

(17,018

)

Other (income) expense, net

 

(683

)

 

 

90

 

Interest expense, net

 

16,193

 

 

 

12,446

 

Total other income, net

$

(10,567

)

 

$

(4,482

)

Income before income tax expense

$

8,951

 

 

$

4,733

 

Income tax expense

 

(4,896

)

 

 

(888

)

Net income

$

4,055

 

 

$

3,845

 

Net loss attributable to noncontrolling interests and redeemable noncontrolling interests

 

(3,454

)

 

 

(1,772

)

Net income attributable to Altus Power, Inc.

$

7,509

 

 

$

5,617

 

Net income per share attributable to common stockholders

 

 

 

Basic

$

0.05

 

 

$

0.04

 

Diluted

$

0.05

 

 

$

0.03

 

Weighted average shares used to compute net income per share attributable to common stockholders

 

 

 

Basic

 

159,025,740

 

 

 

158,621,674

 

Diluted

 

162,242,148

 

 

 

161,003,402

 

 

Altus Power, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
(In thousands, except share and per share data)

 
 

 

As of March 31,
2024

 

As of December 31,
2023

Assets

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

173,266

 

 

$

160,817

 

Current portion of restricted cash

 

17,622

 

 

 

45,358

 

Accounts receivable, net

 

20,057

 

 

 

17,100

 

Other current assets

 

5,763

 

 

 

5,522

 

Total current assets

 

216,708

 

 

 

228,797

 

Restricted cash, noncurrent portion

 

12,625

 

 

 

12,752

 

Property, plant and equipment, net

 

1,745,407

 

 

 

1,619,047

 

Intangible assets, net

 

47,330

 

 

 

47,588

 

Operating lease asset

 

183,655

 

 

 

173,804

 

Derivative assets

 

2,585

 

 

 

530

 

Other assets

 

10,166

 

 

 

7,831

 

Total assets

$

2,218,476

 

 

$

2,090,349

 

Liabilities, redeemable noncontrolling interests, and stockholders' equity

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

7,411

 

 

$

7,338

 

Construction payable

 

11,672

 

 

 

14,108

 

Interest payable

 

13,958

 

 

 

8,685

 

Purchase price payable, current

 

9,291

 

 

 

9,514

 

Due to related parties

 

85

 

 

 

51

 

Current portion of long-term debt, net

 

73,429

 

 

 

39,611

 

Operating lease liability, current

 

6,293

 

 

 

6,861

 

Contract liability, current

 

2,802

 

 

 

2,940

 

Other current liabilities

 

21,144

 

 

 

17,402

 

Total current liabilities

 

146,085

 

 

 

106,510

 

Alignment shares liability

 

34,415

 

 

 

60,502

 

Long-term debt, net of unamortized debt issuance costs and current portion

 

1,253,819

 

 

 

1,163,307

 

Intangible liabilities, net

 

20,033

 

 

 

18,945

 

Asset retirement obligations

 

18,701

 

 

 

17,014

 

Operating lease liability, noncurrent

 

189,136

 

 

 

180,701

 

Contract liability, noncurrent

 

6,132

 

 

 

5,620

 

Deferred tax liabilities, net

 

14,725

 

 

 

9,831

 

Other long-term liabilities

 

2,989

 

 

 

2,908

 

Total liabilities

$

1,686,035

 

 

$

1,565,338

 

Commitments and contingent liabilities

 

 

 

Redeemable noncontrolling interests

 

24,389

 

 

 

26,044

 

Stockholders' equity

 

 

 

Common stock $0.0001 par value; 988,591,250 shares authorized as of March 31, 2024, and December 31, 2023; 159,874,981 and 158,999,886 shares issued and outstanding as of March 31,2024 and December 31, 2023, respectively

 

16

 

 

 

16

 

Additional paid-in capital

 

488,408

 

 

 

485,063

 

Accumulated deficit

 

(47,765

)

 

 

(55,274

)

Accumulated other comprehensive income

 

16,878

 

 

 

17,273

 

Total stockholders' equity

$

457,537

 

 

$

447,078

 

Noncontrolling interests

 

50,515

 

 

 

51,889

 

Total equity

$

508,052

 

 

$

498,967

 

Total liabilities, redeemable noncontrolling interests, and stockholders' equity

$

2,218,476

 

 

$

2,090,349

 

 

Altus Power, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
(In thousands)

 
 

 

Three months ended March 31,

 

 

2024

 

 

 

2023

 

Cash flows from operating activities

 

 

 

Net income

$

4,055

 

 

$

3,845

 

Adjustments to reconcile net income to net cash from operating activities:

 

 

 

Depreciation, amortization and accretion

 

16,130

 

 

 

11,376

 

Non-cash lease transactions

 

(1,299

)

 

 

112

 

Deferred tax expense

 

4,896

 

 

 

888

 

Amortization of debt discount and financing costs

 

1,200

 

 

 

753

 

Change in fair value of Alignment Shares liability

 

(26,077

)

 

 

(17,018

)

Remeasurement of contingent consideration

 

(79

)

 

 

50

 

Gain on disposal of property, plant and equipment

 

(88

)

 

 

 

Reclassification of realized gain on cash flow hedge to net income

 

(404

)

 

 

 

Stock-based compensation

 

4,111

 

 

 

2,813

 

Other

 

(1,080

)

 

 

138

 

Changes in assets and liabilities, excluding the effect of acquisitions

 

 

 

Accounts receivable

 

(1,326

)

 

 

1,685

 

Due to related parties

 

34

 

 

 

101

 

Derivative assets

 

(2,055

)

 

 

1,769

 

Other assets

 

(1,448

)

 

 

1,206

 

Accounts payable

 

68

 

 

 

2,828

 

Interest payable

 

5,273

 

 

 

1,204

 

Contract liability

 

163

 

 

 

152

 

Other liabilities

 

2,451

 

 

 

2,323

 

Net cash provided by operating activities

 

4,525

 

 

 

14,225

 

Cash flows used for investing activities

 

 

 

Capital expenditures

 

(18,538

)

 

 

(24,844

)

Payments to acquire renewable energy businesses, net of cash and restricted cash acquired

 

(119,617

)

 

 

(288,241

)

Payments to acquire renewable energy facilities from third parties, net of cash and restricted cash acquired

 

(4,035

)

 

 

(6,350

)

Proceeds from disposal of property, plant and equipment

 

266

 

 

 

 

Net cash used for investing activities

 

(141,924

)

 

 

(319,435

)

Cash flows used for financing activities

 

 

 

Proceeds from issuance of long-term debt

 

131,895

 

 

 

204,687

 

Repayment of long-term debt

 

(7,208

)

 

 

(7,724

)

Payment of debt issuance costs

 

(1,231

)

 

 

(1,976

)

Payment of deferred purchase price payable

 

 

 

 

(4,531

)

Contributions from noncontrolling interests

 

 

 

 

1,737

 

Redemption of redeemable noncontrolling interests

 

 

 

 

(1,098

)

Distributions to noncontrolling interests

 

(1,471

)

 

 

(1,102

)

Net cash provided by financing activities

 

121,985

 

 

 

189,993

 

Net decrease in cash, cash equivalents, and restricted cash

 

(15,414

)

 

 

(115,217

)

Cash, cash equivalents, and restricted cash, beginning of period

 

218,927

 

 

 

199,398

 

Cash, cash equivalents, and restricted cash, end of period

$

203,513

 

 

$

84,181

 

 

 

Three months ended March 31,

 

2024

 

2023

Supplemental cash flow disclosure

 

 

 

Cash paid for interest

$

12,256

 

$

6,509

Cash paid for taxes

$

21

 

$

Non-cash investing and financing activities

 

 

 

Asset retirement obligations

$

1,391

 

$

3,847

Debt assumed through acquisitions

 

 

 

8,100

Noncontrolling interest assumed through acquisitions

 

2,100

 

 

13,296

Redeemable noncontrolling interest assumed through acquisitions

 

 

 

8,100

Accrued distributions to noncontrolling interests

 

205

 

 

Accrued deferred financing costs

 

19

 

 

Acquisitions of property and equipment included in construction payable

 

 

 

10,872

Conversion of Alignment Shares into common stock

 

10

 

 

11

Deferred purchase price payable

 

 

 

7,069

 

Non-GAAP Financial Reconciliation

Reconciliation of GAAP reported Net Income to non-GAAP adjusted EBITDA:

 

Three Months Ended
March 31,

 

 

2024

 

 

 

2023

 

 

(in thousands)

Reconciliation of Net income to Adjusted EBITDA:

 

 

 

Net income

$

4,055

 

 

$

3,845

 

Income tax expense

 

4,896

 

 

 

888

 

Interest expense, net

 

16,193

 

 

 

12,446

 

Depreciation, amortization and accretion expense

 

16,130

 

 

 

11,376

 

Stock-based compensation

 

4,304

 

 

 

2,872

 

Acquisition and entity formation costs

 

1,066

 

 

 

1,491

 

(Gain) loss on fair value remeasurement of contingent consideration, net

 

(79

)

 

 

50

 

Gain on disposal of property, plant and equipment

 

(88

)

 

 

 

Change in fair value of Alignment Shares liability

 

(26,077

)

 

 

(17,018

)

Other (income) expense, net

 

(683

)

 

 

90

 

Adjusted EBITDA

$

19,717

 

 

$

16,040

 

 

Reconciliation of non-GAAP adjusted EBITDA margin:

 

Three Months Ended

March 31,

 

 

2024

 

 

 

2023

 

 

(in thousands)

Reconciliation of Adjusted EBITDA margin:

 

 

 

Adjusted EBITDA

$

19,717

 

 

$

16,040

 

Operating revenues, net

 

40,659

 

 

 

29,378

 

Adjusted EBITDA margin

 

48

%

 

 

55

%

 

Contacts

Altus Power Contact for Investor or Media Inquiries:
Chris Shelton, Head of Investor Relations
InvestorRelations@altuspower.com

Contacts

Altus Power Contact for Investor or Media Inquiries:
Chris Shelton, Head of Investor Relations
InvestorRelations@altuspower.com