ConnectM Publishes 2024 Impact Scorecard
Rhea-AI Summary
ConnectM Technology Solutions (NASDAQ:CNTM) has released its 2024 Impact Scorecard, showcasing remarkable growth in electrification metrics compared to 2023. The company reported:
- 95.5 GWh of Electrification, up 331% year-over-year, powering equivalent to 35,000 homes daily
- 73,506 Metric Tons of CO2 Displaced, increasing 391%, equivalent to CO2 absorption by 3.4 million trees annually
- 6.7 Million Gallons of Fossil Fuel Displaced, rising 343%, comparable to driving around the world 7,000 times
The company aggregates data through its Energy Intelligence Network and AI technology to determine these quarterly impact metrics, demonstrating its commitment to advancing the electrification economy through AI-driven insights and data intelligence.
Positive
- 331% YoY increase in electrification to 95.5 GWh
- 391% YoY growth in CO2 displacement to 73,506 metric tons
- 343% YoY increase in fossil fuel displacement to 6.7M gallons
Negative
- None.
News Market Reaction – CNTM
On the day this news was published, CNTM declined 9.61%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
~Ends 2024 With Triple Digit Growth Across All Electrification Metrics~
MARLBOROUGH, Mass., Feb. 10, 2025 (GLOBE NEWSWIRE) -- ConnectM Technology Solutions, Inc. (NASDAQ:CNTM) ("ConnectM" or the "Company"), a technology company focused on the electrification economy, today published its impact scorecard for the fourth quarter of 2024. Following the end of each quarter, ConnectM publishes its quarterly scorecard to provide the Company's key electrification indicators which we use as internal operating performance measures. ConnectM determines its quarterly impact score metrics by aggregating data and behavioral analytics sourced from our Energy Intelligence Network and integrated artificial intelligence technology.
Electrification Impact Scorecard for year-end 2024 (compared to year-end 2023)
- 95.5 GWh of Electrification, an increase of
331% over last year and equivalent to 35,000 homes powered per day¹ - 73,506 Metric Tons of Co2 Displaced, an increase of
391% over last year and equivalent to the amount of CO2 3.4 million trees can absorb in a year² - 6.7 Million Gallons of Fossil Fuel Displaced, an increase of
343% over last year and equivalent to driving around the world roughly 7,000 times³
Bhaskar Panigrahi, Chairman and Chief Executive Officer of ConnectM, commented, "ConnectM’s 2024 impact scorecard reaffirms our unwavering commitment to accelerating the electrification economy. Our triple-digit growth across key metrics reflects the power of AI-driven insights and data intelligence in scaling cleaner, more efficient energy solutions. As we expand our technology’s reach, we remain focused on delivering measurable, sustainable impact for our customers, partners, and stakeholders.”
About ConnectM Technology Solutions, Inc.
ConnectM is a pioneer in the electrification economy, integrating energy assets with its AI-driven technology platform. Focused on delivering solutions that drive efficiency, affordability, and sustainability, ConnectM serves home, facility, and fleet across three major segments: Building Electrification, Distributed Energy, and Transportation and Logistics. The company’s vertically integrated approach combines technology, service/distribution networks, and strategic partnerships to accelerate the transition to an all-electric energy economy.
For more information, please visit: www.connectm.com. Stockholders looking to receive Company updates directly to their inbox should sign up here.
Contact:
Investor Relations
Dave Gentry, CEO
RedChip Companies, Inc.
1-407-644-4256
CNTM@redchip.com
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¹U.S. Energy Information Administration (EIA) - Assuming the average home uses about 30 kilowatt-hours per day.
²US Department of Agriculture
³Assumes 26 miles per gallon
FAQ
What were ConnectM's (CNTM) key electrification metrics for 2024?
How much did ConnectM's (CNTM) electrification output grow in 2024?
What was ConnectM's (CNTM) CO2 displacement achievement in 2024?
How does ConnectM (CNTM) measure its quarterly impact metrics?
