DUBLIN--(BUSINESS WIRE)--The "Electric Bike Market by Product, Drive Mechanism and Battery Type: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
An e-bike or electronic bicycle is a standard bicycle, which is equipped with an electric motor, a battery, and a drivetrain. The bike can be moved through pedaling or can run on rechargeable batteries. They majorly use lead acid batteries and can cover long distances with a single charge. E-bikes are simple to operate, convenient for all age groups, and are an economical alternative as an environment-friendly means of transportation, in comparison to motored vehicles.
Peddle assist, throttle on demand, speed pedelec, and electric moped or motorcycle are the different categories of electric bikes. Electric bikes are now being considered as viable transportation option due to its power capacity, long distance range, and moderate speed. The popularity of electric bike is increasing due to rapid urbanization and rise in vehicular traffic.
Factors such as implementation of government regulations to encourage the use of electric bikes, consumer inclination toward use of e-bikes as an eco-friendly & efficient solution for commute, increase in fuel costs, and rise interest in cycling as a fitness & recreational activity are expected to drive the market growth. However, high cost of e-bikes and ban on use of e-bikes in major cities of China hinder the market growth. On the contrary, improvement in bicycling infrastructure & battery technology is expected to offer lucrative opportunities for the market growth.
The global electric bikes market is segmented into product type, drive mechanism, battery type, and region. Depending on product type, the market is segregated into pedelecs, speed pedelecs, throttle on demand, and scooter & motorcycle. By drive mechanism, it is divided into hub motor, mid drive, and others. On the basis of battery type, it is fragmented into lead-acid, lithium-ion (Li-ion), and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Prioritizes sustainability of key battery material, avoids landfill disposal, enables wider adoption of safe lithium-ion batteries for industrial, commercial, medical, and residential use
BUFFALO, N.Y.--(BUSINESS WIRE)--Viridi Parente, Inc., a developer of innovative battery technology that can be safely installed and operated in nearly any environment or location, today announced it has shipped its initial batch of batteries to Li-Cycle Corp., an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America. By recycling 100% of its end-of-life cells, Viridi Parente is expanding the company's commitment to energy sustainability and the circular energy economy by enabling the wider adoption of safe lithium-ion batteries for industrial, commercial, municipal, medical, and residential use.
"It was important to us to find a recycling partner that shares our vision of growing the green economy through innovation and by minimizing the overall environmental footprint of electrification solutions. Together with Li-Cycle, Viridi is becoming part of the solution to the global end-of-life lithium-ion battery issue," said Jon M. Williams, CEO of Viridi Parente.
As of 2019, just over half of the global 180,000 metric tons of lithium-ion batteries available for recycling were recycled. Li-Cycle has the capacity to process up to 10,000 tons of spent lithium-ion batteries per year, and Viridi Parente plans to recycle 100% of its end-of-life cells.
Traditionally, the battery recycling process involves a smelting process that results in high emissions and recovery of less than 50% of the materials. Li-Cycle recovers up to 95% of the materials found in lithium-ion batteries through its patented, Spoke & Hub Technologies™. The zero-waste process converts manufacturing scrap and end-of-life batteries into intermediate products, including "black mass," a powder substance containing cobalt, nickel, lithium and other valuable elements. The "black mass" is processed through a hydrometallurgical circuit to produce critical, battery grade-materials that can be returned to the economy. This minimizes the overall environmental footprint of the end-to-end resources recovery process and reduces the intensity of greenhouse gas emissions that would otherwise be produced from mining these finite resources.
"Creating a circular supply chain is a critical step in bringing battery systems to the point-of-use – to buildings and mobile applications – which is an important part of meeting the state's and our nation's key climate initiatives," Williams said.
In New York, 66% of the state's greenhouse gas emissions are attributed to transportation and buildings. Viridi Parente delivers safe battery technology for these point-of-use applications. The company's Green Machine business provides high-performance mobile electrification for traditionally diesel-fueled construction equipment; its Volta Energy business provides industrial, commercial, medical, municipal, and residential energy consumers with clean and reliable backup power and an ability to manage and reduce overall consumption. Viridi's architecture is the only design in the market that can be safely installed in nearly any environment or location.
In addition to avoiding landfill disposal for its batteries, Viridi Parente's relationship with Li-Cycle builds upon the company's pledge to facilitate the economic development of its local community and shape an energy ecosystem in New York that helps meet the state's decarbonization goals.
Viridi's batteries are manufactured in its facility in Buffalo, New York, which improved the local community by renovating a fossil-fuel-powered plant into a solar-powered facility. Now the company's batteries will be recycled at Li-Cycle's facility in Rochester, New York, a similar adaptive reuse project housed in a former Eastman Kodak facility.
"This partnership with Li-Cycle is a very good example of how local companies can work together to create a fully renewable economy that benefits all, regardless of their zip code," commented Dennis Elsenbeck, President of Viridi Parente.
"We have a great appreciation of Viridi Parente as we both share a commitment to the development of an energy ecosystem that prioritizes sustainability as it pertains to lithium-ion battery resource recovery," said Ajay Kochhar, President, CEO, and Co-founder of Li-Cycle. "Our commercial lithium-ion battery recycling facility in Rochester, New York, is a great example of our environmental initiatives as we transformed a Kodak facility that previously housed photo processing chemicals, improving the quality of life for the surrounding communities. We are excited to receive our first shipment of batteries from Viridi Parente and thank them for contributing to our mission of closing the lithium-ion battery supply chain loop."
Images of the recycling process are available at https://www.dropbox.com/sh/3xokj7rmgtgd9ly/AADzfWYWAiMDSKIeiDGc4b1Da?dl=0.
About Viridi Parente
Viridi Parente (Viridi) is a disruptive energy company in Buffalo, New York, that is changing the way we use energy, improving systems, communities, and lives. Viridi deploys safe lithium-ion battery technology into applications that have been historically dominated by fossil fuel energy sources. Its innovative architecture is constructed from materials used for aerospace and military applications and is the only design in the market that can be safely installed and operated in nearly any environment or location. Through its subsidiary, Green Machine Equipment, Viridi is bringing quiet, fully renewable mobile energy solutions to products in construction equipment, waste disposal, last-mile delivery, and other portable industrial markets. Through its subsidiary, Volta Energy Products, Viridi brings stationary, point-of-use storage technology that is safe, locatable, and reliable to industrial, medical, commercial, municipal, and residential building applications. Learn more at: www.viridiparente.com.
About Li-Cycle
Li-Cycle Corp. (Li-Cycle) is on a mission to leverage its innovative Spoke & Hub Technologies™ to provide a customer-centric, end-of-life solution for lithium-ion batteries while creating a secondary supply of critical battery materials. Lithium-ion rechargeable batteries are increasingly powering our world in automotive, energy storage, consumer electronics, and other industrial and household applications. The world needs improved technology and supply chain innovations to better manage the end-of-life of these batteries – and to meet the rapidly growing demand for critical and scarce battery-grade materials through a closed-loop solution.
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Wendy Prabhu
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New market drivers are expected to complement both residential demand response and residential virtual power plant growth
BOULDER, Colo.--(BUSINESS WIRE)--#DER--A new report from Guidehouse Insights analyzes the global market for residential flexibility solutions such as demand response (DR) and virtual power plant (VPP) applications. The report provides global market forecasts through 2030 for DR and VPP capacity, implementation spending, and revenue.
Traditional residential DR programs are maturing, while the growing penetration of distributed energy resources (DER), including battery storage, rooftop photovoltaic (PV) inverters, and electric vehicles, are creating new opportunities for residential customers in the VPP space. According to a new report from Guidehouse Insights, the role of flexible capacity in a growing number of markets is forecasted to grow from less than $1 billion in 2021 to more than $6.5 billion by 2030, at a compounded annual growth rate (CAGR) of 23.3%.
“Extreme weather phenomena are just one factor fueling the growth of residential automated flexible capacity in response to price signals and more traditional behavioral or load control-based residential DR,” says Peter Asmus, research director with Guidehouse Insights. “As grid operators develop a more urgent need to procure flexible capacity, we anticipate that the engagement of the aggregated residential capacity segment will become competitive with commercial and industrial customers.”
Customer engagement trends, an evolving market ecosystem, and supportive regulatory environment drive VPP growth. Additional drivers, such as residential sector programming during COVID-19, load disaggregation for targeted marketing, pre-enrollment through utility marketplaces, and time-varying pricing adoption complement these original drivers for increased flexibility options.
The report, Market Data: Residential Demand Response and Virtual Power Plant Markets, analyzes the global market for residential DR and VPP applications. The study provides an analysis of the market issues, including market drivers and barriers. Global market forecasts for capacity, implementation spending, revenue, and DR sites are broken out by region and extend through 2030. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges and navigate significant regulatory pressures with a focus on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that prepare our clients for future growth and success. The company has more than 8,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, Market Data: Residential Demand Response and Virtual Power Plant Markets, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
Lindsay Funicello-Paul
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ANDOVER, Mass. & CHARLOTTE, N.C.--(BUSINESS WIRE)--#EaaS--GreenStruxure, a joint venture of Schneider Electric and Huck Capital, and ClearGen, a Blackstone portfolio company, today announced a strategic partnership that will accelerate the ability for commercial and industrial (C/I) customers to transition to cost-effective, sustainable and resilient energy.
Through this partnership, GreenStruxure will develop and operate highly standardized on-site renewable energy microgrid systems. ClearGen will provide the capital to develop the assets through a $500 million commitment of long-term capital provided by funds managed by Blackstone. Customers in the underserved C/I market will benefit from a turnkey Energy as a Service solution that gives them the energy outcomes they need to meet their business and sustainability goals with no upfront capital outlay and no operational risks.
Demand for on-site renewable energy assets is growing rapidly as consumers are faced with rising energy costs, a desire to improve the sustainability of their operations, and service outages caused by extreme weather and natural disasters. However, building on-site microgrid assets requires significant capital outlay and building owners and operators have few other options available to them today to take control of their energy. The solution provided by GreenStruxure and ClearGen makes decarbonized, on-site energy simple and accessible for C/I customers and puts the companies at the forefront of the Energy as a Service market.
The partnership combines the expertise and capabilities of leaders in renewable energy and sustainability: Schneider, the world leader in the digital transformation of energy management and automation; Huck Capital, a leading sustainability impact investor fund; and Blackstone, one of the world’s largest alternative asset managers and a market leader in providing large scale capital solutions to the renewable energy industry.
“Look at the environment around us. All roads point to clean energy, from increased consumer awareness and policy initiatives to strong corporate and financial institutional commitments,” said Jose Lorenzo, GreenStruxure CEO. “Building owners and operators who want to adopt a clean, reliable energy solution need a trusted partner ready to work beside them for the long-term to meet their goals. Our partnership with ClearGen gives our customers added peace of mind that they are backed by best-in-class capital expertise, technology and services.”
“Energy consumers face a range of challenges, including decarbonization goals, cost and risk management, and the reliability of supply that affects critical operations,” said George Plattenburg, ClearGen Co-Founder and Chief Commercial Officer. “We are excited to partner with GreenStruxure to identify new investment opportunities, provide real value for customers, and meet the significant demand for behind-the-meter energy systems in North America.”
For more information, go to www.greenstruxure.com or www.clear-gen.com.
About GreenStruxure
GreenStruxure, a partnership bringing together Schneider Electric’s industry leading expertise in renewable energy microgrids and Huck Capital’s sustainability-focused investments, launched in September 2020 to deliver modular, standardized Energy as a Service solutions to commercial and industrial medium-sized buildings in the U.S. GreenStruxure is simplifying and accelerating the market adoption of renewable energy microgrids, offering an innovative outcome-based alternative for building owners and operators who want sustainable, cost-effective, resilient, onsite energy delivered to them hassle-free as a service with no upfront capital expenses or operational risks. Visit www.greenstruxure.com to learn more.
About ClearGen
ClearGen is empowering the transition to a more sustainable energy future. In partnership with Blackstone, ClearGen works with partners to deliver efficient and reliable energy infrastructure to consumers. Our consultative approach is focused on reducing development risk by streamlining the structuring and financing process to facilitate successful project development. By combining smart and flexible financing with unmatched industry expertise, ClearGen will lead the way to a new era of energy outcomes. At ClearGen, we bring capital to projects that deliver results and make the world a cleaner place. Visit www.clear-gen.com to learn more.
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MILLBRAE, Calif.--(BUSINESS WIRE)--#STEM--Stem, Inc. (NYSE: STEM), a global leader in artificial intelligence (AI)-driven clean energy storage services, today announced it will participate in the following virtual investor conferences.
About Stem, Inc.
Stem (NYSE: STEM) provides solutions that address the challenges of today’s dynamic energy market. By combining advanced energy storage solutions with Athena™, a world-class AI-powered analytics platform, Stem enables customers and partners to optimize energy use by automatically switching between battery power, onsite generation and grid power. Stem’s solutions help enterprise customers benefit from a clean, adaptive energy infrastructure and achieve a wide variety of goals, including expense reduction, resilience, sustainability, environmental and corporate responsibility and innovation. Stem also offers full support for solar partners interested in adding storage to standalone, community or commercial solar projects – both behind and in front of the meter. For more information, visit www.stem.com.
Investor Contacts – Stem
Ted Durbin, Stem, Inc.
Marc Silverberg, ICR, Inc.
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Source: Stem, Inc.
TORONTO--(BUSINESS WIRE)--Li-Cycle Corp. (“Li-Cycle” or the “Company”), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, today announced its participation in several upcoming investor events:
On February 16, 2021, Li-Cycle announced its entry into a definitive business combination agreement with Peridot Acquisition Corp. (NYSE: PDAC) (“Peridot”). Upon the closing of the business combination, which is expected in the second quarter of 2021, the combined company will be named Li-Cycle Holdings Corp. (“Newco”). Li-Cycle intends to apply to list the common shares of the combined company on the New York Stock Exchange under the new ticker symbol, “LICY.”
About Li-Cycle Corp.
Li-Cycle is on a mission to leverage its innovative Spoke & Hub Technologies™ to provide a customer-centric, end-of-life solution for lithium-ion batteries, while creating a secondary supply of critical battery materials. Lithium-ion rechargeable batteries are increasingly powering our world in automotive, energy storage, consumer electronics, and other industrial and household applications. The world needs improved technology and supply chain innovations to better manage battery manufacturing waste and end-of-life batteries and to meet the rapidly growing demand for critical and scarce battery-grade raw materials through a closed-loop solution. For more information, visit https://li-cycle.com/.
About Peridot Acquisition Corp.
Peridot is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Peridot’s sponsor is an affiliate of Carnelian Energy Capital Management, L.P., an investment firm that focuses on opportunities in the North American energy space in partnership with best-in-class management teams. For more information, please visit https://peridotspac.com/.
ADDITIONAL INFORMATION AND WHERE TO FIND IT
In connection with the proposed business combination involving Li-Cycle and Peridot, Newco has prepared and filed with the SEC a registration statement on Form F-4 that includes both a prospectus of Newco and a proxy statement of Peridot (the “Proxy Statement/Prospectus”). Once effective, Peridot will mail the Proxy Statement/Prospectus to its shareholders and file other documents regarding the proposed transaction with the SEC. This communication is not a substitute for any proxy statement, registration statement, proxy statement/prospectus or other documents Peridot or Newco may file with the SEC in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENT/PROSPECTUS WHEN IT BECOMES AVAILABLE, ANY AMENDMENTS OR SUPPLEMENTS TO THE PROXY STATEMENT/PROSPECTUS, AND OTHER DOCUMENTS FILED BY PERIDOT OR NEWCO WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain free copies of the Proxy Statement/Prospectus and other documents filed with the SEC by Peridot or Newco through the website maintained by the SEC at www.sec.gov.
Investors and securityholders will also be able to obtain free copies of the documents filed by Peridot and/or Newco with the SEC on Peridot’s website at www.peridotspac.com or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it..
PARTICIPANTS IN THE SOLICITATION
Li-Cycle, Peridot, Newco, and certain of their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of proxies in connection with the proposed transaction, including a description of their direct or indirect interests, by security holdings or otherwise, are set forth in the Proxy Statement/Prospectus. Information regarding the directors and executive officers of Peridot is contained in Peridot’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 26, 2021 and certain of its Current Reports filed on Form 8-K. These documents can be obtained free of charge from the sources indicated above.
NO OFFER OR SOLICITATION
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities of Peridot or Newco or a solicitation of any vote or approval. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements contained in this communication may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21 of the Securities Exchange Act of 1934, as amended, including statements regarding the proposed transaction involving Li-Cycle and Peridot and the ability to consummate the proposed transaction. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely”, “believe,” “estimate,” “project,” “intend,” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (i) the risk that the conditions to the closing of the proposed transaction are not satisfied, including the failure to timely or at all obtain shareholder approval for the proposed transaction or the failure to timely or at all obtain any required regulatory clearances, including under the Hart-Scott Rodino Antitrust Improvements Act; (ii) uncertainties as to the timing of the consummation of the proposed transaction and the ability of each of Li-Cycle and Peridot to consummate the proposed transaction; (iii) the possibility that other anticipated benefits of the proposed transaction will not be realized, and the anticipated tax treatment of the combination; (iv) the occurrence of any event that could give rise to termination of the proposed transaction; (v) the risk that stockholder litigation in connection with the proposed transaction or other settlements or investigations may affect the timing or occurrence of the proposed transaction or result in significant costs of defense, indemnification and liability; (vi) changes in general economic and/or industry specific conditions; (vii) possible disruptions from the proposed transaction that could harm Li-Cycle’s business; (viii) the ability of Li-Cycle to retain, attract and hire key personnel; (ix) potential adverse reactions or changes to relationships with customers, employees, suppliers or other parties resulting from the announcement or completion of the proposed transaction; (x) potential business uncertainty, including changes to existing business relationships, during the pendency of the proposed transaction that could affect Li-Cycle’s financial performance; (xi) legislative, regulatory and economic developments; (xii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak of war or hostilities and any epidemic, pandemic or disease outbreak (including COVID-19), as well as management’s response to any of the aforementioned factors; and (xiii) other risk factors as detailed from time to time in Peridot’s reports filed with the SEC, including Peridot’s annual report on Form 10-K, periodic quarterly reports on Form 10-Q, periodic current reports on Form 8-K and other documents filed with the SEC. The foregoing list of important factors is not exclusive. Neither Li-Cycle nor Peridot can give any assurance that the conditions to the proposed transaction will be satisfied. Except as required by applicable law, neither Li-Cycle nor Peridot undertakes any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
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AKRON, Ohio--(BUSINESS WIRE)--$BW #carboncapture--Babcock & Wilcox ("B&W") (NYSE: BW), a leading innovator in clean energy technologies, announces its ClimateBright™ suite of revolutionary decarbonization technologies designed to help utilities and industry aggressively combat greenhouse gas emissions and climate change. ClimateBright™ technologies further strengthen B&W’s commitment to clean energy progress and to helping customers worldwide address the most significant environmental challenge in industrial processes and energy generation.
“Our ClimateBright™ technologies can change the world,” said Kenneth Young, B&W Chairman and Chief Executive Officer. “The United Nations has set a goal of net-zero greenhouse gas emissions by 2050 and that is supported by more than 100 countries. Through advanced research and development, combined with joint efforts with the U.S. Department of Energy and various universities, B&W has unparalleled experience in clean energy solutions – backed by more than 90 active patents for carbon capture alone – and has the expertise and technology to lead the world’s next industrial revolution toward a zero-carbon future. We are currently working with many clients to determine the best carbon capture solution based on their specific needs.”
B&W’s ClimateBrightTM suite of technologies can capture CO2 and includes the ability to produce hydrogen. These technologies have application for a wide range of industries including energy production, food manufacturing, steel, cement, oil and gas, pharmaceutical, petrochemical, carbon black, and pulp and paper.
B&W’s ClimateBrightTM solutions include:
Additionally, B&W’s proven and patented waste-to-energy (“WTE”) technologies, which include its state-of-the-art, highly efficient DynaGrate® combustion grate, are ideal solutions to combat landfill methane – a greenhouse gas 84-times more powerful than CO2 – while simultaneously generating clean, sustainable energy. B&W’s suite of WTE technologies is installed in hundreds of plants around the world, with a combined capacity of more than 48 million tons of waste annually.
“Combatting climate change through the reduction of carbon and methane emissions is perhaps the greatest challenge of our time and B&W is well-prepared for that challenge,” Young said. “B&W is excited to provide the technology and solutions to achieve clean energy globally, and we’re dedicated to decarbonization as we help address the world’s urgent climate objectives.”
To learn more about B&W’s ClimateBright™ products and the company’s suite of advanced clean energy products and services, visit babcock.com/decarbonization.
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on LinkedIn and learn more at www.babcock.com.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the establishment of B&W ClimateBright™ brand platform for B&W’s decarbonization technologies and associated potential commercial opportunities. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
Investor Contact:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox
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Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
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Solar canopy systems will reduce the “urban heat-island” effect, which lowers peak energy demand in warmer months
ROCKVILLE, Md.--(BUSINESS WIRE)--#Californiasolar--The Long Beach Unified School District (LBUSD) in Southern California is taking a meaningful step in achieving its sustainability goals by adding solar canopies at 21 of its schools. Standard Solar, Inc., a nationally recognized leader in the development, funding, ownership and operation of commercial and community solar assets, is funding and will own and operate the portfolio of solar canopy systems. The project was developed in partnership with EMCOR Services Mesa Energy Systems.
Of the 21 school sites, 14 of them are now operational. The remaining will be completed by October.
“Standard Solar applauds the Long Beach Unified School District for taking this important step to reduce its impact on the environment,” said Shaun Laughlin, Standard Solar’s head of US Strategic Development, Partnerships, Project Finance and Acquisitions. “Adding these projects to our ownership portfolio directly supports our efforts to increase our deployed capital in the West.”
The solar canopy systems will help LBUSD achieve its sustainability goals. In the first year of operation, it will offset the CO2 equivalent of approximately six million pounds of coal burned. Additionally, the canopy systems will help reduce the urban heat island (UHI) effect often generated in dense, urban areas such as those in the district.
“Clean energy is an essential part of our district-wide sustainability efforts. Our partnership with Standard Solar will help reduce our carbon footprint while saving the district millions of dollars over the 25-year agreement,” said Long Beach Unified School District Business Services Administrator Alan Reising.
“EMCOR Services Mesa Energy Systems is thrilled to be part of the 21 solar projects for the Long Beach Unified School District as the installing contractor,” said Robert Lake, President, EMCOR Services Mesa Energy Systems. “The overall project is in excess of four megawatts and consists of multiple solar canopies throughout LBUSD’s elementary school portfolio. In addition to generating power from a sustainable renewable energy source, the canopies will provide shaded areas for the students. We applaud LBUSD for their vision in implementing this aggressive project that will provide lower-cost, clean power for years to come.”
EMCOR Services Mesa Energy Systems is a leading mechanical and energy services company with operations throughout California, Arizona, and Nevada and is a subsidiary of EMCOR Group, Inc.
A UHI is an urban area that is significantly warmer than its surrounding rural areas due to human activities. The solar canopies can minimize summertime peak energy demand, air-conditioning costs, air pollution and greenhouse-gas emissions.
About Standard Solar
Standard Solar is powering the nation’s energy transformation – channeling its project development capabilities, financial strength and technical expertise to deliver the benefits of solar, as well as solar + storage, to businesses, institutions, farms, governments, communities and utilities. Building on 16 years of sustainable growth and in-house and tax equity investment capital, Standard Solar is a national leader in the development, funding and long-term ownership and operation of commercial and community solar assets. Recognized as an established financial partner with immediate, deep resources, the company owns and operates more than 160 megawatts of solar across the United States. Standard Solar is based in Rockville, Md. Learn more at standardsolar.com, LinkedIn and Twitter: @StandardSolar.
Leah Wilkinson
Wilkinson + Associates
703-907-0010
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DAVIDSON, N.C.--(BUSINESS WIRE)--Ingersoll Rand Inc., (NYSE: IR) a global provider of mission-critical flow creation and industrial solutions, announced that Vikram Kini, Chief Financial Officer, will virtually participate in a fireside chat at the 2021 Wolfe Global Transportation & Industrials Conference on Thursday, May 27, 2021 at 3:50 PM Eastern time.
A real-time webcast of the fireside chat can be accessed via the Events and Presentations section of the Ingersoll Rand Investor Relations website (https://investors.irco.com). A replay of the webcast will be available after conclusion of the fireside chat and can be accessed on the Ingersoll Rand Investor Relations website.
About Ingersoll Rand Inc.
Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to helping make life better for our employees, customers and communities. Customers lean on us for our technology-driven excellence in mission-critical flow creation and industrial solutions across 40+ respected brands where our products and services excel in the most complex and harsh conditions. Our employees develop customers for life through their daily commitment to expertise, productivity and efficiency. For more information, visit www.IRCO.com.
Media:
Misty Zelent
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Investor Relations:
Christopher Miorin
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NORWELL, Mass.--(BUSINESS WIRE)--Clean Harbors, Inc. (“Clean Harbors”) (NYSE: CLH), the leading provider of environmental and industrial services throughout North America, today announced that senior management will be participating in the following virtual investor conferences:
To access the live or archived webcast, visit the “Investor Relations” portion of Clean Harbors’ website at www.cleanharbors.com.
About Clean Harbors
Clean Harbors (NYSE: CLH) is North America’s leading provider of environmental and industrial services. The Company serves a diverse customer base, including a majority of Fortune 500 companies. Its customer base spans a number of industries, including chemical, energy and manufacturing, as well as numerous government agencies. These customers rely on Clean Harbors to deliver a broad range of services such as end-to-end hazardous waste management, emergency spill response, industrial cleaning and maintenance, and recycling services. Through its Safety-Kleen subsidiary, Clean Harbors also is North America’s largest re-refiner and recycler of used oil and a leading provider of parts washers and environmental services to commercial, industrial and automotive customers. Founded in 1980 and based in Massachusetts, Clean Harbors operates in the United States, Canada, Mexico, Puerto Rico and India. For more information, visit www.cleanharbors.com.
Michael L. Battles
EVP and Chief Financial Officer
Clean Harbors, Inc.
781.792.5100
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Jim Buckley
SVP Investor Relations
Clean Harbors, Inc.
781.792.5100
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New EVgo Reservation Program Enables Greater Customer Flexibility and Convenience When Charging On the Go
LOS ANGELES--(BUSINESS WIRE)--EVgo (the “Company”), the nation’s largest public fast charging network for electric vehicles (EVs) and first powered by 100% renewable electricity, today announced the availability of a new reservation program, EVgo Reservations™ at 17 locations in Southern California, Northern California, and the Seattle area, enabling drivers in those markets to reserve EV chargers ahead of time.
“Innovation at EVgo starts with listening to EV drivers to understand and address their evolving needs,” said Cathy Zoi, CEO of EVgo. “We heard directly from a number of our customers that they’d value the ability to reserve fast chargers ahead of time so they can know it will be available for them during their weekly grocery shop or during the kids’ baseball practice. EVgo knows that making charging convenient for all EV drivers is how we’ll accelerate the move to an all-electric future.”
As an owner and operator of its public fast charging stations, EVgo is committed to convenience and reliability in charging. In both customer surveys and informal outreach, a large number of EVgo drivers indicated that they would be interested in paying to reserve a charger to guarantee its availability at a particular time that aligned with their schedules. EVgo’s software solutions team developed a proprietary reservations feature that integrates multiple makes and models of electric vehicle fast chargers with the EVgo back-end software system, enabling drivers to make a reservation either while en route to a charger or up to two weeks in advance.
Earlier this year, EVgo began testing its reservations system at a handful of stations in San Francisco and Los Angeles. With today’s announcement, that pilot program has expanded to Sacramento, Santa Barbara, additional locations in the Los Angeles and Bay Area regions, and Redmond, Washington. All participating EVgo Reservations™ locations and additional details can be found here.
These chargers are located ideally for integrating the charging experience into other errands and ensuring optimal convenience. EVgo’s site host partners also benefit from the EVgo Reservations™ program, as approximately 80% of EVgo customers report they like to shop or run other errands while charging. Being able to lock in the exact time to charge makes it even easier and more convenient for customers to align those plans.
Today’s news underscores EVgo’s commitment to a clean, all-electric transportation future that advances economic, environmental, and national security goals. EVgo also continues to be a technology leader, exemplified by recent deployments of 350kW power-sharing technology and the opening of a new EVgo Lab in El Segundo, CA. The Company also recently celebrated achieving over 250,000 customers on its charging network nationwide.
“EVgo’s owner-operator model is a launchpad for value-added services like EVgo Reservations™, enabling a truly differentiated driver and partner experience as we expand the scope of our business,” added Zoi.
More information on how to make an EVgo charging reservation can be found below:
Drivers can use the EVgo app feature EVgo Reserve Now™ when they are on their way to a charging station or EVgo Reserve by Date™ to book a specific date and time for a future session, ideal for the driver without access to home charging who wants to set a regular time to charge worry-free. EVgo survey data showed that customers were also interested in booking chargers ahead when they will be traveling.
EV drivers can go to evgo.com/reservations to see the locations where reservations are accepted and use the EVgo app to check availability for when they want to reserve a charger. From the EVgo app home screen, customers can type the name of the charger they want to reserve in the search bar, select the vehicle's connector, and then on the "Swipe to Start" screen, choose "Reserve by Date" from the reservation options and follow the instructions to complete the reservation. There is a $3.00 fee to reserve a charger.
EVgo Reserve by Date™ allows sessions to be booked up to 2 weeks in advance, and future reservations can be canceled up to 24 hours prior to the reservation start time for no additional cost.
About EVgo
EVgo is the nation’s largest public fast charging network for electric vehicles, and the first to be powered by 100% renewable energy. With more than 800 fast charging locations, EVgo’s charging network serves over 65 metropolitan areas across 34 states, owns and operates the most public fast charging locations in the U.S. and serves more than 250,000 customers. Founded in 2010, EVgo leads the way on transportation electrification, partnering with automakers; fleet and rideshare operators; retail hosts such as hotels, shopping centers, gas stations and parking lot operators; and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for drivers across the U.S. to enjoy the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet. EVgo’s parent company is LS Power, a New York-headquartered development, investment and operating company focused on leading edge solutions for the North American power and energy infrastructure sector. On January 22, 2021, EVgo announced that it entered into a definitive business combination agreement with Climate Change Crisis Real Impact I Acquisition Corporation (“CRIS”) (NYSE: CLII). For more information visit evgo.com and lspower.com.
About LS Power
LS Power is a development, investment and operating company focused on the North American power and energy infrastructure sector. Since its inception in 1990, LS Power has developed, constructed, managed or acquired more than 45,000 MW of power generation, including utility-scale solar, wind, hydro, natural gas-fired and battery energy storage projects, and has developed more than 660 miles of high voltage electric transmission. Additionally, LS Power actively invests in businesses focused on renewable energy and renewable fuels, as well as distributed energy resource platforms, such as CPower Energy Management, Endurant Energy and EVgo. Across its efforts, LS Power has raised in excess of $47 billion in debt and equity capital to support North American infrastructure. For more information, please visit www.lspower.com.
EVgo
For Investors:
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LS Power
Steven Arabia
Director, Government Affairs & Media Relations
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609-212-3857
Record-Breaking Increase in Oil Demand Expected to Offset 2020 Oversupply
BOSTON--(BUSINESS WIRE)--#ColonialPipeline--Motus, the definitive leader in anywhere workforce solutions, today released its 2021 Summer Fuel Outlook Report. The report highlights key data related to fuel price fluctuations and explores the impact these changes will have on the summer driving season. It also reveals that a sharp increase in travel is anticipated to send sustained fuel demand back to pre-pandemic levels over the next six months. As a result, Motus projects 2021 fuel consumption will peak in August, soaring past 2019’s Q3 average.
The report provides additional insight into fuel supply and demand trends, and how extenuating circumstances continue to disrupt conventional price cycles. For example, March of 2021 marked the first time this year that gasoline sales have surpassed 2020 levels. Both driving activity and gasoline levels have been steadily increasing over recent months. Despite this, oil suppliers have maintained reduced production levels to correct the supply and demand imbalance caused by pandemic-related nationwide stay-at-home orders. If consumption increases continue as expected, the world will reach a production and consumption balance in Q3 of this year.
“Increased driving activity is eliminating the supply glut from 2020, so we expect fuel to return to pre-pandemic levels soon,” said Ken Robinson, market research manager for Motus. “With growth in vehicle miles traveled, passenger vehicles are progressing towards the 90% recovery range thus far in 2021. As vaccinations increase and pandemic restrictions relax, the demand for fuel will drive sustained prices beyond levels we saw in 2019.”
Demand at the gas pumps also drives refinery activity in the United States. Yet crude oil refining has been volatile this year despite driving activity showing sustained signs of recovery. Disruptions such as the Colonial Pipeline ransomware attack have caused supply chain and inventory obstacles and shut down refineries for weeks at a time. As refineries begin to scale up production for the surge in summer travel, activity is starting to align with the 2019 trend – just at lower output levels.
Additional findings in the 2021 Summer Fuel Outlook Report include:
To access the full report, please visit: https://resources.motus.com/reports/2021-summer-fuel-outlook-report.
About Motus
Motus is the definitive expert in anywhere workforce solutions. Its platform and proprietary software simplify the reimbursement and management of vehicle, device, work and living costs through personalized calculations. Powered by an unmatched pool of data, refined over more than 80 years, and updated in real time, Motus is the platform of choice for top Fortune 500 companies and organizations committed to workplace agility. Motus automotive data, captured and analyzed across the world’s largest retained pool of drivers, also underpins the annual Internal Revenue Service (IRS) business mileage standard, the amount an individual can deduct for business vehicle expenses. For more information please visit www.motus.com or connect with us on Twitter, Facebook, Instagram or LinkedIn.
Media:
Geoff Lopes
fama PR for Motus
617-986-5038
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TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (“Superior”) (TSX:SPB) will outline today at its 2021 Investor Day the 2021-2026 strategic roadmap “Superior Way Forward” focused on accelerating growth, improving operational efficiency and maximizing shareholder returns. Our strategic roadmap which we have defined as the Superior Way Forward, is ambitious but we believe it is achievable, and is designed to capitalize on our strengths.
Main Objectives
The key themes of the Superior Way Forward are:
The Superior Way Forward Summary
“We are setting out to become the leader in creating value through differentiation and best-in-class operations in the North American retail propane industry. We envision a Superior Plus that is one of the industry's most modern and sophisticated businesses, leveraging technology to improve our delivery efficiency and service offering in new and innovative ways,” said Luc Desjardins, President and Chief Executive Officer. “This commitment to innovation and best-in-class operations has uniquely positioned Superior as a buyer of choice in the propane distribution industry and is allowing us to accelerate our growth through the execution of accretive acquisition opportunities.”
Targeting $700 million to $750 million of EBITDA from operations by 2026
Superior has set a goal of achieving EBITDA from operations in the range of $700 million to $750 million in 2026 through acquisitions, continuous improvement, organic growth and an anticipated post-pandemic recovery in commercial volumes. This represents a 10% - 11% EBITDA from operations Compound Annual Growth Rate (“CAGR”) (1) from 2020. In addition, Superior is targeting generating aggregate Free Cash Flow in the range of $2.6 billion to $2.8 billion from 2021 to 2026.
These financial goals are based on Superior’s long-term operating plan and represent performance targets that management is seeking to achieve. They are driven by numerous expectations and assumptions and are subject to certain risks which are outlined in more detail in the forward-looking section below.
2021 Virtual Investor Day
Superior’s Investor Day will be held virtually on Tuesday, May 25, 2021 at 1 PM EDT. The presentation will be broadcast live via webcast with video and will be accessible by web browser. It will also be available on Superior’s website following the event.
Webcast attendees can pre-register to receive the web access information. Attendees may also register on the day of the event.
Event details:
2021 Investor Day – Superior Plus
May 25, 2021
Start: 01:00 p.m. Eastern Time (Toronto / New York)
Please click the registration link below to access the platform.:
https://onlinexperiences.com/Launch/QReg/ShowUUID=3EC7D901-BAE6-4FAE-9FEB-FA8AED30EE4A
(1) |
EBITDA CAGR based on EBITDA from operations of $402 million for the year ended December 31, 2020, excluding the Specialty Chemicals segment. |
About the Corporation
Superior is a leading North American distributor and marketer of propane and distillates and related products and services, servicing over 780,000 customer locations in the U.S. and Canada.
Forward Looking Information
This press release contains certain forward-looking information within the meaning of applicable Canadian securities laws which is provided for the purpose of presenting information about management’s current expectations and plans. Readers are cautioned that such information may not be appropriate for other purposes. Superior’s actual results could differ materially from those expressed in, or implied by, this forward-looking information, and accordingly, no assurances can be given that any of the results anticipated by the forward-looking information will transpire or occur. Unless otherwise indicated, all figures are presented in Canadian dollars.
Forward-looking information is predictive in nature, depends upon or refers to future events or conditions, or includes words such as “expects”, “anticipates”, “plans”, “predicts”, “believes”, “estimates”, “intends”, “targets”, “projects”, “forecasts”, “goals” or negative versions thereof and other similar expressions or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. Forward-looking information in this news release includes, without limitation, statements regarding future growth in EBITDA from operations, targeted Free Cash Flow, capital expenditures, targeted Total Debt to Adjusted EBITDA Leverage Ratio; expected acquisition opportunities, acquisition spending, probability of completing acquisitions and achievement of realized synergies from acquisitions; expected reductions in operational expenses; potential annual returns from organic growth; expectations relating to commercial customer recovery; and the future operations, business, financial condition, financial results, priorities, ongoing objectives, strategies and outlook of Superior and its business segments.
Forward-looking information is provided for the purpose of providing information about management’s expectations and plans about the future and may not be appropriate for other purposes. Forward-looking information herein is based on various assumptions and expectations that Superior believes are reasonable in the circumstances, however, they are subject to the risks and uncertainties set forth below and no assurance can be given that these assumptions and expectations will prove to be correct. These assumptions and expectations are based on information currently available to Superior, including information obtained from third party industry analysts and other third party sources, as well as on management’s current plans and its perception of historical trends, the historic performance of Superior’s business segments, current conditions and expected future developments. These assumptions and expectations include, without limitation, anticipated financial performance, current business and economic trends, expected economic growth, the amount of future dividends paid by Superior, Superior’s future dividend policy, business prospects, availability and utilization of tax basis, acquisition opportunities and probability of successfully negotiating and completing acquisitions, achievement of realized synergies from acquisitions, financing availability, absence of any material regulatory developments, currency, exchange and interest rates, weather, trading data and cost estimates. In particular, key assumptions and expectations underlying Superior’s targeted 2026 EBITDA from Operations in the range of $700 million to $750 million and targeted aggregate Free Cash Flow of $2.6 billion to $2.8 billion include the following: 2-3% annual organic growth; $5 million to $15 million in commercial customer recovery from the Covid-19 pandemic; $50 million to $55 million in operating expense improvements; completion of $1.9 billion in acquisitions at multiples consistent with historic multiples for Superior’s acquisitions as well as achieved synergies from acquisitions consistent with historical averages at approximately 25% over the relevant period; no material divestitures; 2021 operating results consistent with Superior’s consolidated 2021 Adjusted EBITDA guidance; and, in respect of the targeted Free Cash Flow, also assumes Adjusted EBITDA in the range of $3.2 billion to $3.5 billion; maintenance capital expenditures in the range of $300 million to $400 million; and lease repayments in the range of $240 million to $250 million over the relevant period. In addition, significant assumptions underlying the consolidated 2021 Adjusted EBITDA guidance referenced above are set forth under the “Financial Outlook” section of Superior’s first quarter MD&A.
By its very nature, forward-looking information involves numerous assumptions, risks and uncertainties, both general and specific. Should one or more of these risks and uncertainties materialize or should underlying assumptions prove incorrect, as many important factors are beyond the control of Superior, Superior's actual performance and financial results may vary materially from those estimates and expectations contemplated, expressed or implied in the forward-looking information. These risks and uncertainties include incorrect assessments of value and potential synergies when making acquisitions, inability to successfully conclude negotiations and complete acquisitions, competition for acquisition opportunities, increases in debt service charges, the loss of key personnel, fluctuations in foreign currency, exchange rates and commodity prices, variability in cash flows and potential impact on dividends, inadequate insurance coverage, liability for cash taxes, counterparty risk, compliance with environmental laws and regulations, reduced customer demand, operational risks involving our facilities, force majeure, labour relations matters, our ability to access external sources of debt and equity capital, and the risks and assumptions identified in (i) Superior’s first quarter MD&A under the heading "Risk Factors" and (ii) Superior's most recent Annual Information Form, both of which are filed electronically at www.sedar.com. The preceding list of assumptions, risks and uncertainties is not exhaustive.
When relying on Superior’s forward-looking information to make decisions with respect to Superior, investors and others should carefully consider the preceding factors, other uncertainties and potential events. Any forward-looking information is provided as of the date of this document and, except as required by law, neither Superior nor Superior LP undertakes to update or revise such information to reflect new information, subsequent or otherwise. For the reasons set forth above, investors and others should not place undue reliance on forward-looking information.
Non-GAAP Financial Measures
Throughout this news release, Superior has used the following terms that are not defined by International Financial Reporting Standards (“GAAP”), but are used by management to evaluate the performance of Superior and its businesses. Since non-GAAP financial measures do not have standardized meanings prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other companies, securities regulations require that non-GAAP financial measures are clearly defined, qualified and reconciled to their nearest GAAP financial measures. Except as otherwise indicated, these non-GAAP financial measures are calculated and disclosed on a consistent basis from period to period. Specific adjusting items may only be relevant in certain periods. The intent of non-GAAP financial measures is to provide additional useful information to investors and analysts. The measures may also be used by investors, financial institutions and credit rating agencies to assess Superior’s performance and ability to service debt. The measures should not, therefore, be considered in isolation or used in substitute for measures of performance prepared in accordance with GAAP. Other issuers may calculate non-GAAP financial measures differently.
Investors should be cautioned that Adjusted EBITDA, EBITDA from operations and Free Cash Flow should not be construed as alternatives to net earnings, cash flow from operating activities or other measures of financial results determined in accordance with GAAP as an indicator of Superior’s performance.
Superior Non-GAAP financial measures are identified and defined as follows:
EBITDA from operations
EBITDA from operations is defined as Adjusted EBITDA excluding costs that are not considered representative of Superior’s underlying core operating performance, including gains and losses on foreign currency hedging contracts, corporate costs and transaction and other costs. Management uses EBITDA from operations to set targets for Superior (including annual guidance and variable compensation targets). EBITDA from operations is reconciled to net earnings before income taxes. Please refer to the Results of Operating Segments in the Q1 2021 MD&A for the reconciliations.
Adjusted EBITDA
Adjusted EBITDA represents earnings before interest, taxes, depreciation, amortization, losses (gains) on disposal of assets, finance expense, restructuring costs, transaction and other costs, and unrealized gains (losses) on derivative financial instruments. Adjusted EBITDA is used by Superior and investors to assess its consolidated results and ability to service debt. Adjusted EBITDA is reconciled to net earnings before income taxes. Adjusted EBITDA is a significant performance measure used by management and investors to evaluate Superior’s ongoing performance of its businesses. Adjusted EBITDA is also used as one component in determining short-term incentive compensation for certain management employees. The EBITDA of Superior’s operating segments may be referred to as EBITDA from operations. Please see the “Reconciliation of Earnings (Loss) before Income Taxes to Adjusted EBITDA” section of Superior’s Q1 2021 MD&A.
Total Debt to Adjusted EBITDA Leverage Ratio and Pro Forma Adjusted EBITDA
Adjusted EBITDA for the Total Net Debt to Adjusted EBITDA Leverage Ratio is defined as Adjusted EBITDA calculated on a 12-month trailing basis giving pro forma effect to acquisitions and dispositions adjusted to the first day of the calculation period (“Pro Forma Adjusted EBITDA”). Pro Forma Adjusted EBITDA is used by Superior to calculate its Total Net Debt to Adjusted EBITDA Leverage Ratio.
To calculate the Total Net Debt to Adjusted EBITDA Leverage Ratio divide the sum of borrowings before deferred financing fees and lease liabilities by Pro Forma Adjusted EBITDA. The Total Net Debt to Adjusted EBITDA Leverage Ratio is used by Superior and investors to assess its ability to service debt.
Capital Expenditures
Efficiency, process improvement and growth-related expenditures will include expenditures such as acquisition of new customer equipment to facilitate growth, system upgrades and initiatives to facilitate improvements in customer service.
Maintenance capital expenditures will include required regulatory spending on tank refurbishments, replacement of chlorine railcars, replacement of plant equipment and any other required expenditures related to maintaining operations.
Organic Growth
Organic growth calculated as increase in EBITDA from Operations year over year excluding the impact of acquisitions.
Free Cash Flow
Calculated as Adjusted EBITDA less maintenance capital expenditures and capital lease repayments. Free Cash Flow is used by Superior to calculate cash flows available to pay interest and cash taxes, pay dividends, make acquisitions, for capital expenditures and repay debt.
For additional information with respect to financial measures which have not been identified by GAAP, including reconciliations to the closest comparable GAAP measure, see Superior's Q1 2021 MD&A, available on SEDAR at www.sedar.com
For further information about Superior, please visit Superior’s website at: www.superiorplus.com or contact: Beth Summers, Executive Vice President and Chief Financial Officer, Tel: (416) 340-6015, or Rob Dorran, Vice President, Investor Relations and Treasurer, Tel: (416) 340-6003, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Toll Free: 1-866-490-PLUS (7587).
Beth Summers
Executive Vice President and Chief Financial Officer
Tel: (416) 340-6015
or
Rob Dorran
Vice President, Investor Relations and Treasurer
Tel: (416) 340-6003
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Toll Free: 1-866-490-PLUS (7587)
PORTLAND, Ore.--(BUSINESS WIRE)--Utility-scale onshore wind developer Triple Oak Power LLC (“TOP”) announced today the addition of Ryan Leonard as Chief Operating Officer. He joins co-founders Chief Executive Officer Jesse Gronner and Chief Financial Officer Kenneth Labeja (“Labeja”) as the third management partner in the company. TOP is backed by a capital commitment from EnCap Energy Transition Fund I, L.P., a leading provider of equity capital to the energy transition sector of the U.S. energy industry. Yorktown Partners LLC, Mercuria Energy and TOP management are also invested in the company.
“Ryan brings a nearly two-decade experience working in wholesale energy markets and renewable project implementation with a valuable, high level skill set to round out our senior leadership team and will advance TOP’s mission to deliver affordable clean power throughout the U.S.,” said Gronner. “He joins us as we are poised for even greater growth.”
EnCap Energy Transition Fund I, L.P. closed earlier this month with commitments of approximately $1.2 billion. The fund was created to invest in companies that advance the nation’s transition to a lower-carbon future with a focus on creating utility-scale wind and related renewable enterprises. TOP is one of the fund’s five portfolio companies.
“Ryan is a great fit, both for EnCap’s Energy Transition platform and for Triple Oak power in particular,” said EnCap Energy Transition Managing Partner Kellie Metcalf, who serves as chairperson of the TOP board of directors. “Coincidentally, Ryan is a ‘triple threat’ bringing deep experience in operations, analytics and origination. His experience will play a key role as TOP moves forward and launches in a number of geographies, turning development projects into physical assets.“
“I feel like my entire career, from my initial work at the Midcontinent Independent System Operator (MISO) to helping lead market structure, operations and sales for Avangrid Renewables has prepared me to meet this exciting challenge,” said Leonard. “I’ll not only help lead TOP in developing high-quality onshore wind and other competitive carbon-free power, but I’ll be helping transition our entire country to a more diverse, reliable and sustainable electric power grid.”
Headquartered in Portland, Oregon, TOP’s strategy lies in filling the gap between early-stage uncertainty in the development process to delivering the certainty of shovel-ready, utility-scale wind facilities. Early development efforts have focused on the Western U.S. and Texas with the full U.S. market as its growth target.
About Triple Oak Power (TOP)
TOP’s mission is to leverage the enormous potential of our natural resources to create integrated, diverse, and sustainable electricity infrastructure. With many decades of combined experience in the renewable energy sector, the Triple Oak team is focused on building value for investors, communities, and landowners through responsibly developed wind and other carbon-free generation projects. For more information, visit www.tripleoakpower.com.
About EnCap Investments L.P.
Since 1988, EnCap Investments has been the leading provider of venture capital to the independent sector of the U.S. energy industry. The firm has raised 22 institutional investment funds totaling approximately $38 billion and currently manages capital on behalf of more than 350 U.S. and international investors. For more information, visit www.encapinvestments.com.
For Triple Oak Power:
Art Sasse, The Ovation Group
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503.453.0051 m
For EnCap Investments:
Casey Nikoloric, TEN|10 Group
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303.507.0510 m | 303.433.4397, x101 o
DUBLIN--(BUSINESS WIRE)--The "Agriculture Lubricants Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The agricultural lubricants market is expected to register a CAGR of over 2% during the forecast period.
Companies Mentioned
Key Market Trends
Engine Oil to Dominate the Market
Asia-Pacific to witness Fastest Growth
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Provision of Subsidy for Farm Machinery by the Indian and Chinese Governments
4.1.2 Increasing Farm Mechanization Rates in Developing Countries
4.1.3 Increasing Cost of Farm Labor
4.2 Restraints
4.2.1 High Cost of Synthetic and Bio-based Lubricants
4.2.2 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Product Type
5.2 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Analysis in Tiers
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Prominence of Biodegradable Lubricants
For more information about this report visit https://www.researchandmarkets.com/r/tjxcvj
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
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COLUMBUS, Ohio & HOUSTON--(BUSINESS WIRE)--Battelle and Catahoula Resources (“Catahoula”) will jointly develop solutions for the capture, transport and sequestration of carbon dioxide produced at ethanol facilities in Nebraska.
The agreement pairs the world’s largest private independent research and development company with a portfolio company of private investment firm The Energy and Minerals Group (“EMG”), one of the largest investors in midstream infrastructure in North America and a proven leader in identifying, developing and executing world-class design/build/operate capabilities for midstream assets.
Studies have shown that many Nebraska ethanol producers can benefit from nearby low-cost storage options, eliminating added pipeline expenses or the uncertainty in delivering CO2 to out-of-state storage networks. Catahoula and Battelle plan to design and build multiple low-cost storage options either onsite or close to existing ethanol plants where the geology proves to be favorable.
“Battelle has a long history in geologic carbon sequestration and views it as a technology to make a real difference in mitigating CO2 emissions,” said Matt Vaughan, Executive Vice President of Contract Research at Battelle. “Catahoula’s ability to move quickly and deliver large energy projects cost effectively fits well with Battelle’s technical expertise and ability to minimize and manage long term subsurface storage risk through the injection phase and until closure.”
Battelle has hundreds of professionals with expertise in areas such as subsurface engineering, geoscience, process engineering, pipeline integrity, systems controls, safety, environment and policy. Amongst this diverse, technical resource pool, Battelle employs the largest dedicated-carbon-storage-specific team in the industry. These experts are seamlessly integrated into project teams using controls and quality management systems to ensure efficient and effective CCUS services in projects of any size and complexity.
“The dedication of Battelle to geologic sequestration aligns with our vision to develop the capture, transportation and permanent sequestration of carbon dioxide emissions all within the state of Nebraska, benefiting the ethanol and agricultural industry,” said Jeff Rawls, CEO of Catahoula Resources. “Catahoula’s leadership team has a track record of unlocking geological opportunities for its producer customers via strategically located greenfield midstream development opportunities and we are excited to put our 150 plus years of midstream and CO2 experience to work.”
“Nebraska’s natural environment ranks among the best in the nation, and we’re continuously innovating to improve the quality of our air and water,” said Governor Pete Ricketts. “The partnership between Battelle and Catahoula Resources to sequester carbon dioxide will create more opportunities for our ethanol industry by reducing its carbon footprint. The companies’ combined expertise will support Nebraska’s ethanol plants as they continue to be responsible stewards of our natural world.”
About Battelle
Every day, the people of Battelle apply science and technology to solving what matters most. At major technology centers and national laboratories around the world, Battelle conducts research and development, designs and manufactures products, and delivers critical services for government and commercial customers. Headquartered in Columbus, Ohio since its founding in 1929, Battelle serves the national security, health and life sciences, and energy and environmental industries. For more information, visit www.battelle.org.
About Catahoula Resources
Catahoula’s leadership team has more than 150 years of midstream experience with proven success identifying, developing and executing world class design-build-operate midstream assets. Bringing extensive CO2 technical, operations, project execution and commercial experience with a commitment to safety, compliance, and environmental stewardship Catahoula is focused on providing customer solutions and partnering with industrial participants. For additional information, please visit www.CatahoulaResources.com.
About The Energy & Minerals Group
EMG is a private investment firm with Regulatory Assets Under Management of approximately $12 billion. EMG targets equity investments of $150 million to $1 billion in the energy and minerals sectors with talented, experienced management teams, focused on hard assets that are integral to existing and growing markets. For additional information, please visit www.emgtx.com.
Katy Delaney, (614) 424-7208 or This email address is being protected from spambots. You need JavaScript enabled to view it.
or
T.R. Massey, (614) 424-5544 or This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Hexane Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Global Hexane Market is projected to register a CAGR of over 3.5% during the forecast period (2021-2026).
Companies Mentioned
Key Market Trends
Edible Oil Extraction to Dominate the Market
Asia-Pacific Region to Dominate the Market
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand from Petrochemical Industries
4.1.2 Others
4.2 Restraints
4.2.1 Safer Alternatives for Oil Extraction
4.2.2 Impact of COVID-19 Pandemic
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Type
5.2 Grade
5.3 Application
5.4 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis
6.3 Strategies Adopted by Leading Players
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/e6nx82
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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PASADENA, Calif.--(BUSINESS WIRE)--Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services, announced today that The Kaizen Company (Kaizen) has joined its international development practice. Kaizen is an industry leader in development advisory and management consulting services with more than 150 staff globally, offering a suite of innovative tools that support advanced solutions in health, education, governance, peace and stability, and sustainable economic growth.
“Tetra Tech has developed and applied innovative and scalable solutions for our clients in the international development sector for more than 40 years,” said Dan Batrack, Tetra Tech Chairman and CEO. “The addition of Kaizen enables us to expand our management consulting capabilities and Tetra Tech Delta technologies to further enhance economic growth and prosperity in developing countries worldwide.”
Kevin Wheeler, Kaizen CEO, said, “Our team is excited to join Tetra Tech and offer our clients the global expertise of one of the world’s leading international development providers. Sharing Tetra Tech’s values of entrepreneurship and innovation, together we can build multidisciplinary teams to deliver greater value to our clients and provide new opportunities for our employees.”
The terms of the acquisition were not disclosed. Kaizen is joining Tetra Tech’s Government Services Group.
About Tetra Tech
Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 20,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, sustainable infrastructure, renewable energy, and international development. We are Leading with Science® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com or follow us on LinkedIn, Twitter, and Facebook.
About The Kaizen Company
Based in Washington, D.C., The Kaizen Company provides innovative, scalable solutions that address emerging market challenges and opportunities in developing countries worldwide. For more information about The Kaizen Company, please visit thekaizencompany.com or follow them on LinkedIn, Twitter, and Facebook.
Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgment as to what may occur in the future. However, Tetra Tech’s actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Risk Factors" included in the Company’s Form 10-K and Form 10-Q filings with the Securities and Exchange Commission.
Jim Wu, Investor Relations
Charlie MacPherson, Media & Public Relations
(626) 470-2844
MONTREAL--(BUSINESS WIRE)--$LMR #EV--Lomiko Metals Inc. (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) (Lomiko or the “Company”) invites individuals, institutional investors, advisors and analysts to attend its real-time, interactive presentation at the Emerging Growth Conference.
Lomiko will present at the Emerging Growth Conference on May 26th, 2021 12 noon EST, 9 am PST, for 30 minutes. Please REGISTER here to ensure you are able to attend the conference and receive any updates that are released. This live interactive online event will give existing shareholders and the investment community the opportunity to interact with the Company’s CEO A. Paul Gill in real time.
The focus of the presentation will be recent developments in the Battery Materials market, the pending Preliminary Economic Assessment (PEA) at the La Loutre Graphite Project and exploration at the new Bourier lithium project. On Monday May 24th, 2021 Quebec graphite companies received welcome news that Nouveau Monde (NYSE: NMG) started trading on the New York Stock Exchange, bringing much needed attention to the graphite and lithium developers in Quebec.
Mr. Gill will perform a presentation and may subsequently open the floor for questions. Please ask your questions during the event, and try to get through as many of them as possible.
If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available on EmergingGrowth.com. We will also release a link to that after the event.
About the Emerging Growth Conference
The Emerging Growth conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their office, in a time efficient manner.
The Conference focus and coverage includes companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long-term growth. Its audience includes potentially tens of thousands of individual and Institutional investors, as well as Investment advisors and analysts.
All sessions will be conducted through video webcasts and will take place in the Eastern time zone.
About Lomiko Metals
Lomiko Metals holds a 100% interest in its La Loutre graphite development in southern Quebec. Located 117 kilometres northwest of Montreal, the property consists of 1 large, continuous block with 42 minerals claims totalling 2,509 hectares (25.1km2). Lomiko also optioned The Bourier project consisting of 203 claims, for a total ground position of 10,252.20 hectares (102.52 km2) in a region of Quebec that boasts other lithium deposits and known lithium mineralization, as shown in the maps and table below. The Bourier project is potentially a new lithium field in an established lithium district.
For more information on Lomiko Metals, review the website at www.lomiko.com, contact A. Paul Gill at 604-729-5312 or email: This email address is being protected from spambots. You need JavaScript enabled to view it..
On Behalf of the Board,
“A. Paul Gill”
Chief Executive Officer
We Seek Safe Harbour. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Lomiko Metals
A. Paul Gill
604-729-5312
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Planned 155 MW solar array would be state’s largest solar power purchase by non-utility customer, aimed at serving future power needs in Southwestern Colorado and Northern New Mexico
DENVER--(BUSINESS WIRE)--Guzman Energy today announced they have signed a power purchase agreement with Primergy Solar for energy from the proposed 155 MWac Hesperus Solar Project. Hesperus, located in La Plata County on Colorado’s western slope, has the ability to serve the energy needs of nearly 56,000 homes annually.
“This agreement is an important milestone for our plans to expand our energy supplies to meet customer demand for reliable, affordable, clean energy on the Colorado western slope and in New Mexico,” said Chris Riley, CEO Guzman Energy. “We will continue to mobilize projects that deliver cheaper, better energy for our customers and their communities.”
Sited on 1,500 acres, Hesperus will create more than 350 construction and permanent jobs, as well as other economic development benefits such as tax revenues, educational opportunities, and local investment. The project is expected to be operational by the end of 2023.
“We are proud to play a role in this innovative approach to bringing solar energy to Coloradoans who want cleaner air, water and soil,” said Primergy CEO, Ty Daul. “Primergy believes that carefully sited solar farms will power a brighter future and produce healthier economies throughout the Mountain West.”
About Primergy Solar
Primergy Solar, LLC (https://www.primergysolar.com) is a developer, owner and operator focused on both distributed and utility scale solar PV and battery storage projects in North America. Primergy Solar features a diverse and talented team with decades of experience in renewables project development, financing, construction and operations. It is currently managing and progressing a significant portfolio of operational and development stage solar+ battery storage projects. Primergy Solar is a portfolio company of Quinbrook Infrastructure Partners and represents Quinbrook’s principal solar and solar plus energy storage investment platform in North America.
About Guzman Energy
Guzman Energy is a wholesale power provider dedicated to communities in search of affordable and reliable energy. We partner with cooperatives, municipalities, companies and tribes across North America to customize energy portfolios that make economic and environmental sense for today and tomorrow. Together, we are lighting the way forward. To learn more, visit www.GuzmanEnergy.com.
Megan Schaefer
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303.527.4622
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