WATSONVILLE, Calif.--(BUSINESS WIRE)--$GVA #BuildBetterTogether--Granite (NYSE:GVA) is proud to announce that CIO Malcolm Jack has been named a 2021 Info-Tech CIO Awards winner by Info-Tech Research Group, a leading IT research and advisory firm. Since 2016, the CIO Awards have recognized outstanding industry leaders for delivering exceptional value to their organizations and for achieving high scores in stakeholder satisfaction in Info-Tech’s CIO Business Vision program. This program measures an organization’s satisfaction with core IT services, providing CIOs with the foundation to jumpstart a successful IT strategy.
Jack was recognized in the “Visionary and Growth Leaders” category for the Granite IT department’s exceptional increase in satisfaction scores over the previous year. “Our team has done exceptional work for Granite during difficult circumstances over the past 12 months,” said Jack. “This award is a testament to their dedication to high performance. Thanks to the entire team for making Granite IT such a strong piece of our organization.”
“The Info-Tech CIO Awards spotlight the essential attribute of an IT leader’s success, which is the ability to satisfy their stakeholders,” said Geoff Nielson, senior vice president, global services and delivery for Info-Tech Research Group. “Recipients personify how IT should deliver business value, especially during unprecedented times. It is our honor to acknowledge the 2021 honorees, who have made amazing strides and achievements for their respective organizations.”
To see the full list of winners and learn more about the awards, please visit here.
About Granite
Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite provider in the transportation, water infrastructure, and mineral exploration markets. Granite’s Code of Conduct and strong Core Values guide the company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit graniteconstruction.com, and connect with Granite on LinkedIn, Twitter, Facebook, and Instagram.
About Info-Tech Research Group
Info-Tech Research Group is the world’s fastest-growing information technology research and advisory company, proudly serving over 30,000 IT professionals. The company produces unbiased and highly relevant research to help CIOs and IT leaders make strategic, timely, and well-informed decisions. Info-Tech partners closely with IT teams to provide everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.
Granite Contacts
Media
Erin Kuhlman 831-768-4111
Investors
Wenjun Xu - 831-761-7861
SAN ANTONIO--(BUSINESS WIRE)--Streamline Innovations, Inc. (“Streamline”), the leader in environmentally-advanced treatment solutions for hydrogen sulfide (H2S), announced today that it closed on a Senior Secured Term Loan (the “Financing”) on November 23, 2021. The Financing is a Delayed Draw Term Loan and is structured as a Sustainability-Linked Loan to facilitate and support environmentally sustainable economic activity and growth.
Proceeds from the Financing will be used to construct Valkyrie plants for treating natural gas production streams contaminated with toxic and corrosive H2S. The plants will be built for new Streamline customers in the energy sector and are expected to be placed into service during the first half of 2022.
The Financing is being provided by Riverstone Credit Partners, LLC, a dedicated credit investment platform focused on energy, power, decarbonization, and infrastructure managed by Riverstone Holdings LLC (“Riverstone”).
Streamline’s patented chemistry and processes convert toxic H2S into water and pure elemental sulfur, which can be cleanly disposed of or used as fertilizer for agricultural purposes, unlike many other solutions which result in hazardous or toxic byproducts that require special handling. The result is an environmental performance solution that allows companies to achieve sustainability objectives in a cost-efficient manner.
“Demand for our environmentally-forward solutions is accelerating rapidly, driving our need to secure additional financial resources,” said Chip Van Os, Chief Financial Officer. “We are excited to partner with Riverstone on this financing, which comes at the perfect time. Energy companies are committed to reducing their environmental footprint by seeking clean solutions to safely remove H2S from production streams and eliminate the flaring of toxic sour gas, which in turn eliminates SO2 emissions. Our ability to provide green, innovative solutions that deliver attractive economics to our customers uniquely positions us to be a leader in addressing H2S challenges in all of the markets we serve.”
Chris Abbate, a Partner at Riverstone, said, “We are pleased to partner with Streamline to expand their Valkyrie treatment plant footprint. Streamline has a demonstrated track record of helping its customers across multiple end markets improve environmental performance, reduce emissions and achieve ESG goals.”
About Streamline Innovations
Streamline Innovation’s vision is Eliminating Pollution Through Technology. We help heavy industry around the world achieve environmental performance objectives, improve sustainability, and transition to a sustainable, low-carbon economy.
Streamline’s environmentally-forward H2S treating solutions help our customers achieve the “E” in ESG. H2S is present in many industrial processes throughout the world, and our technology can be applied across industries, delivering a sustainable solution that eliminates H2S, a leading cause of human inhalation accidents, corrosion and SO2 emissions, a primary cause of acid rain.
We also believe that achieving ESG directives requires data. Creating intelligent systems that operate effectively and efficiently without human intervention is critical to measuring and reducing emissions that harm the environment. We integrate advanced process control, data collection and analytics in our technologies to provide a total solution for customers.
We serve organizations in multiple sectors, including Energy/Oil & Gas, Biogas, Landfill Gas & Renewable Fuels, Municipal Wastewater and Industrial Air & Water.
Visit streamlineinnovations.com for more information.
About Riverstone Holdings LLC
Founded in 2000, Riverstone is an investment firm focused on executing private equity and credit investments in energy, power, decarbonization and infrastructure. To date, the Firm has raised approximately $43 billion of capital, which it has deployed across its platform to over 200 portfolio companies since inception. For more information about Riverstone, please visit www.riverstonellc.com.
Streamline Innovations
Chip Van Os
Chief Financial Officer
Streamline Innovations, Inc.
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Riverstone Holdings LLC
Adam Kneller
Managing Director, Head of Credit Investor Relations
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212-271-2941
NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC plc (NYSE: FTI) (PARIS: FTI) (the “Company”) announced today the results of its previously announced cash tender offer (the “Tender Offer”) in respect of its (i) 6.500% Senior Notes due February 1, 2026 (the “2026 Notes”); (ii) 5.75% Notes due June 30, 2025 (the “2025 Notes”); (iii) 3.15% Notes due October 16, 2023 (the “2023 Series A Notes”); and (iv) 3.15% Notes due October 18, 2023 (the “2023 Series B Notes” and, collectively with the 2023 Series A Notes, the “2023 Notes”, and, collectively with the 2026 Notes and the 2025 Notes, the “Notes”).
The Company further announced that it has increased the maximum aggregate principal amount of Notes to be accepted in the Tender Offer (the “Maximum Tender Amount”) from $100 million to $200 million. The terms and conditions of the Tender Offer, as set forth in the offer to purchase (the “Offer to Purchase”), dated November 18, 2021, otherwise remain unchanged.
As of 5:00 P.M., New York City time, on December 2, 2021, in excess of $200 million aggregate principal amount of the 2026 Notes had been validly tendered and not validly withdrawn. Because the tendered amount exceeds the Maximum Tender Amount (as increased), the tendered 2026 Notes have been accepted for purchase on a prorated basis. As a result, $200 million aggregate principal amount of the 2026 Notes that were tendered were accepted for purchase by the Company, with settlement scheduled to occur on December 6, 2021.
Holders of the 2026 Notes that were tendered and accepted will receive the Total Consideration of $1,085.00 per $1,000 principal amount of 2026 Notes, including the Early Tender Premium of $30.00 per $1,000 principal amount of 2026 Notes, as further described in the Offer to Purchase.
Because the aggregate principal amount of the 2026 Notes that has been accepted for purchase is equal to the Maximum Tender Amount (as increased), in accordance with the priority of acceptance set forth in the Offer to Purchase: (1) no 2025 Notes or 2023 Notes have been or will be accepted in the Tender Offer and (2) no further 2026 Notes will be accepted in the Tender Offer. All 2025 Notes and 2023 Notes that were tendered will be promptly returned. Holders of the 2026 Notes can obtain details of the proration from the Depositary.
The Company has engaged BofA Securities, Inc. and Citigroup Global Markets, Inc., to act as the dealer managers for the Tender Offer. The Information Agent and Depositary for the Tender Offer is Global Bondholder Services Corporation. Copies of the Offer to Purchase and related offering materials are available by contacting the Information Agent at +1 (866) 470-3700 (toll-free), +1 (212) 430-3774 or This email address is being protected from spambots. You need JavaScript enabled to view it.. Questions regarding the Tender Offer should be directed to BofA Securities, Inc. at +1 (980) 387-5602 (collect), +44 20-7996-5420, This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it. and Citigroup Global Markets, Inc. at +1 (800) 558-3745 (toll-free) or +1 (212) 723-6106 (collect).
This press release is not an offer to purchase or a solicitation of an offer to sell any securities. The Tender Offer is being made solely pursuant to the terms of the Offer to Purchase. The Tender Offer is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities or other laws of such jurisdiction.
Forward-Looking Statements
This release contains forward-looking statements, including regarding the expected timing and completion of the Tender Offer. The words “expect,” “believe,” “estimated,” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
United Kingdom
The communication of this press release and any other documents or materials relating to the Tender Offer is not being made and such documents and/or materials have not been approved by an authorized person for the purposes of section 21 of the Financial Services and Markets Act 2000 (“FSMA”). Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials is exempt from the restriction on financial promotions under section 21 of the FSMA on the basis that it is only directed at and may be communicated to (1) those persons who are existing members or creditors of the Company or other persons within Article 43 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, and (2) to any other persons to whom these documents and/or materials may lawfully be communicated.
European Economic Area (EEA)
In any European Economic Area (EEA) Member State (the “Relevant State”), this press release is only addressed to and is only directed at qualified investors in that Relevant State within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14, 2017, as amended (the “Prospectus Regulation”). Each person in a Relevant State who receives any communication in respect of the Tender Offer contemplated in this press release will be deemed to have represented, warranted and agreed to and with each Dealer Manager and the Company that it is a qualified investor within the meaning of Article 2(e) of the Prospectus Regulation.
United States (for the 2023 Notes only)
Each Holder of 2023 Notes participating in the Tender Offer will represent that it is not participating in the Tender Offer from the United States (including its territories and possessions), that it is participating in the Tender Offer in accordance with Regulation S under the U.S. Securities Act of 1933, as amended and that it is not a U.S. person or it is acting on a non-discretionary basis for a principal located outside the United States (including its territories and possessions) that is not giving an offer to participate in the Tender Offer from the United States (including its territories and possessions) and who is not a U.S. person.
About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
Investor relations
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Vice President, Investor Relations
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Director, Public Relations
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HALIFAX, Nova Scotia--(BUSINESS WIRE)--Emera Incorporated (“Emera”) today announced that the exchange offer (the “Exchange Offer”) for USD $750 million aggregate principal amount of outstanding senior unsecured notes (the “Old Notes”) by its wholly owned indirect subsidiary, Emera US Finance LP (the “Issuer”) expired at midnight, New York City Time, on November 26, 2021.
On June 4, 2021, the Issuer completed the issuance of the Old Notes to “qualified institutional buyers” under Rule 144A of the United States Securities Act of 1933, as amended (the “Securities Act”), to non-U.S. persons under Regulation S of the Securities Act and on a private placement basis in Canada. The Old Notes were guaranteed by Emera and Emera US Holdings Inc., a wholly owned direct and indirect subsidiary of Emera.
The Old Notes were as follows:
In connection with the initial issuance of the Old Notes, the Issuer entered into a registration rights agreement with the initial purchasers of the Old Notes in which it undertook to offer to exchange the Old Notes for new notes registered under the Securities Act (the “New Notes”).
Pursuant to an effective registration statement on Form F-10/Form S-4 filed with the United States Securities and Exchange Commission (the “SEC”), holders of the Old Notes were able to exchange the Old Notes for the New Notes in an equal principal amount. The terms of the New Notes are identical in all material respects to the terms of the Old Notes except that the New Notes have been registered under the Securities Act and will not bear any legend restricting transfer. The registration rights and additional interest provisions relating to the Old Notes do not apply to the New Notes.
The Issuer has been advised that tenders with respect to USD $750 million aggregate principal amount of the Old Notes out of a total of USD $750 million aggregate principal amount outstanding were received prior to the expiration of the Exchange Offer.
The Issuer expects to issue an equal principal amount of the New Notes of each series in exchange for the Old Notes of each series that were validly tendered. Settlement of the Exchange Offer is expected to occur on or about December 2, 2021, subject to certain customary conditions.
This announcement is neither an offer to buy nor a solicitation of an offer to sell any of the Issuer or Emera’s securities. The Exchange Offer is being made only pursuant to the Exchange Offer documents which have been filed with the SEC including the prospectus and letter of transmittal that have been distributed to holders of the Old Notes. The completion of the Exchange Offer remains subject to the terms and conditions stated in the Exchange Offer documents. D.F. King & Co., Inc., is acting as the exchange agent for the Exchange Offer and can be contacted at 48 Wall Street - 22nd Floor, New York, New York 10005, attention: Michael Horthman; banks and brokers call collect: (212) 269-5550, all others call toll-free (877) 732-3617.
Forward Looking Information
This news release contains forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. These statements reflect Emera management’s current beliefs and are based on information currently available to Emera management. There is a risk that predictions, forecasts, conclusions and projections that constitute forward-looking information will not prove to be accurate, that Emera’s assumptions may not be correct and that actual results may differ materially from such forward-looking information. Additional detailed information about these assumptions, risks and uncertainties is included in Emera’s securities regulatory filings, including under the heading “Business Risks and Risk Management” in Emera’s annual Management’s Discussion and Analysis, and under the heading “Principal Risks and Uncertainties” in the notes to Emera’s annual and interim financial statements, which can be found on SEDAR at www.sedar.com.
About Emera
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $33 billion in assets and 2020 revenues of more than $5.5 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments in Canada, the United States and in four Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F, EMA.PR.H, EMA.PR.J and EMA.PR.L. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional information can be accessed at www.emera.com or at www.sedar.com.
Source: Emera Inc.
Emera Inc.
Investor Relations
Dave Bezanson VP, Investor Relations & Pensions
902-474-2126
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902-222-2683
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Income-qualified residential customers can receive $4,000 to lease or purchase an electric car.
ROSEMEAD, Calif.--(BUSINESS WIRE)--Southern California Edison announced today that it is offering a $4,000 rebate to income-qualified customers who buy or lease pre-owned electric vehicles.
SCE has been offering a $1,000 rebate through its Pre-Owned EV Rebate program to residential customers who purchase or lease a used EV. But the electric company has now quadrupled the rebate amount for those who either live in a state-designated, income-qualified household or who are enrolled in certain state or federal income assistance programs.
“We want the benefits of clean transportation to be available to all our customers, including those who are buying pre-owned EVs,” said Carter Prescott, SCE director of Electrification. “And now we’re happy that we can provide additional help to customers who may need it.”
Rebates for new and used EVs have been available to SCE customers since 2017. Earlier this year, the utility extended its program for used EVs to lend a hand to more cost-conscious customers seeking to go electric. Federal and state government programs also offer rebates and other incentives to lower the cost of buying new electric cars.
The Pre-Owned EV Rebate program is available to first, second and third owners or lessors of pre-owned EVs. By overcoming one of the key barriers to EV ownership — affordability — the program aims to stimulate EV adoption, a key component in helping the state meet its critical climate and air quality goals.
“Many people, regardless of income, would rather buy pre-owned vehicles instead of new, and SCE’s pre-owned EV rebate may make the difference between those customers buying an EV rather than a car powered by fossil fuel,” Prescott said. “At SCE, we also strive to ensure that our programs help communities that are most impacted by harmful vehicle emissions.”
Applying for the rebate can be done online in a few minutes. SCE customers simply need to go to evrebates.sce.com and enter their SCE service account number and current vehicle registration card number. Up to three consecutive owners of a single EV are eligible for a rebate, and up to three EVs at each SCE customer address can receive rebates. Those applying for the higher rebate amount will be asked to provide information proving that they qualify.
Customers can also shop for used EVs online and compare the price of owning them to similar gas-powered cars at cars.sce.com. The site shows how EVs can save on fuel, maintenance and other costs. Charging an electric car at home is equal to paying less than $2 per gallon of gasoline.
The Pre-Owned Rebate is funded by the California Air Resources Board’s Low Carbon Fuel Standard Program, which helps combat climate change by encouraging the use of clean fuels, like electricity, in vehicles.
SCE is helping to accelerate EV adoption through its innovative Charge Ready charging infrastructure programs, which support the installation of electric car charging at workplaces, schools and public places and multifamily dwellings, as well as charging for fleet and industrial vehicles.
Paul Griffo, Southern California Edison 626-302-2255
Allego to Strengthen and Expand Nissan and Europe’s Electric Vehicle Charging Networks
PARIS & ARNHEM, the Netherlands & NEW YORK--(BUSINESS WIRE)--Allego Holding B.V. (“Allego” or “the “Company”), a leading pan-European electric vehicle charging network that recently announced a business combination with Spartan Acquisition Corp. III (“Spartan”) (NYSE: SPAQ), today announced a strategic partnership with Nissan, a leading global vehicle manufacturer responsible for developing, manufacturing, distributing, and selling motor vehicles, including electric vehicles ("EVs"), as well as their related parts and components under the NISSAN trade mark worldwide.
Allego will enter into a long-term partnership with Nissan in 16 countries and across more than 600 locations to install, operate, and maintain DC fast charging solutions of 50kW and 24kW. Charging locations span across the European continent, including Belgium, The Netherlands, Luxembourg, Norway, Sweden, Finland, Denmark, France, Italy, Spain, Portugal, Switzerland, Austria, Estonia, Lithuania, and Latvia.
“We are thrilled to partner with Nissan to enhance Europe’s existing network of electric charging ports,” commented Mathieu Bonnet, CEO of Allego. “Allego’s partnership with a pioneering auto manufacturer in electric mobility like Nissan is a testament to our leadership position in the European EV charging market and demonstrates that electrification is no longer an abstract concept, but a long-term solution to one the most pressing issues our world faces: climate change.”
“Since launching the world’s first mass-market electric vehicle in 2010, the LEAF, Nissan has continuously strived to make the benefits of electric mobility accessible to drivers every day,” said Jean-Philippe Roux, Deputy Vice President, Network Development & Customer Quality, Nissan AMIEO. The project will fall under the Nissan brand “Electrify the World,” part of Nissan’s ongoing efforts to invest in the development of a quick charging network in Europe. This investment will focus primarily on expanding and developing Nissan’s existing charging network situated at company premises and those of its dealers, repairers and partners.
The deal provides for scope of supply CPO services for Allego, DC charging hardware at Nissan dealer charging networks, and five-year service and maintenance contracts for each charger.
“As we push forwards into a new chapter for Nissan’s all-electric vehicle line-up with the innovative Ariya coupe crossover and versatile, fully electric Townstar light commercial vehicle, our comprehensive charging infrastructure expansion plan in partnership with Allego is further evidence of our continued commitment to electric mobility,” continued Jean-Philippe Roux.
About Allego
Allego delivers charging solutions for electric cars, motors, buses and trucks, for consumers, businesses and cities. Allego’s end-to-end charging solutions make it easier for businesses and cities to deliver the infrastructure drivers need, while the scalability of our solutions makes us the partner of the future. Founded in 2013, Allego is a leader in charging solutions, with an international charging network comprised of more than 26,000 charge points operational throughout Europe – and growing rapidly. Our charging solutions are connected to our proprietary platform, EV-Cloud, which gives us and our customers a full portfolio of features and services to meet and exceed market demands. We are committed to providing independent, reliable and safe charging solutions, agnostic of vehicle model or network affiliation. At Allego, we strive every day to make EV charging easier, more convenient and more enjoyable for all.
About Spartan Acquisition Corp. III
Spartan Acquisition Corp. III is a special purpose acquisition entity focused on the energy value-chain and was formed for the purpose of entering into a merger, amalgamation, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Spartan is sponsored by Spartan Acquisition Sponsor III LLC, which is owned by a private investment fund managed by an affiliate of Apollo Global Management, Inc. (NYSE: APO). For more information, please visit www.spartanspaciii.com.
Forward-Looking Statements.
All statements other than statements of historical facts contained in this press release (“Press Release”) are forward-looking statements. Forward-looking statements may generally be identified by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,”, “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target” or other similar expressions (or the negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity and market share. These statements are based on various assumptions, whether or not identified in this Press Release, and on the current expectations of Allego’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions, and such differences may be material. Many actual events and circumstances are beyond the control of Allego. These forward-looking statements are subject to a number of risks and uncertainties, including (i) changes in domestic and foreign business, market, financial, political and legal conditions; (ii) risks related to the rollout of Allego’s business strategy and the timing of expected business milestones; (iii) risks related to the consummation of the proposed business combination with Spartan Acquisition Corp. III being delayed or not occurring at all; (iv) risks related to political and macroeconomic uncertainty; (v) the risk that the installation of the charging solutions at Nissan locations is delayed or does not occur at all; (vi) the risk that the benefits to Allego of the Nissan partnership are delayed, are less than anticipated or do not occur at all; and (vii) the impact of the global COVID-19 pandemic, including its impact on any of the foregoing risks. If any of these risks materialize or Allego’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Allego does not presently know or that Allego currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Allego’s expectations, plans or forecasts of future events and views as of the date of this Press Release. Allego anticipates that subsequent events and developments will cause Allego’s assessments to change. However, while Allego may elect to update these forward-looking statements at some point in the future, Allego specifically disclaims any obligation to do so, unless required by applicable law. These forward-looking statements should not be relied upon as representing Allego’s assessments as of any date subsequent to the date of this Press Release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
For Allego
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KENNESAW, Ga. & PASADENA, Calif.--(BUSINESS WIRE)--$ATHN #ArtificialIntelligence--Please replace the release with the following corrected version.
The updated release reads:
ATHENA TECHNOLOGY ACQUISITION CORP. AND HELIOGEN, INC., A LEADING PROVIDER OF AI-ENABLED CONCENTRATED SOLAR POWER, ANNOUNCE EFFECTIVENESS OF REGISTRATION STATEMENT AND THE DECEMBER 28, 2021 SPECIAL MEETING OF STOCKHOLDERS TO APPROVE BUSINESS COMBINATION
Athena Technology Acquisition Corp. (NYSE: ATHN) (“ATHN”), a publicly-traded special purpose acquisition company, announced today that ATHN’s registration statement on Form S-4 was declared effective by the U.S. Securities and Exchange Commission (“SEC”) on December 2, 2021. ATHN’s definitive proxy statement (“Proxy Statement”) relating to the previously announced business combination with Heliogen, Inc. (“Heliogen”), a leading provider of AI-enabled concentrated solar power, will be filed with the SEC on December 3, 2021.
ATHN will mail the Proxy Statement to stockholders of record as of the close of business on November 23, 2021. The Proxy Statement contains a notice and voting instruction form or a proxy card, relating to the special meeting of the ATHN stockholders (the “Special Meeting”).
The Special Meeting to approve the pending business combination is scheduled to be held on December 28, 2021 at 10:00 a.m. Eastern Time. The Special Meeting will be conducted completely virtually, and can be accessed via live webcast at http://www.cstproxy.com/athenatechnology/2021. If the proposals at the Special Meeting are approved, the parties anticipate that the business combination will close and trading of the combined entity will commence on the NYSE under the new ticket symbol “HLGN” shortly thereafter, subject to the satisfaction or waiver, as applicable, of all other closing conditions.
Every stockholder’s vote is important, regardless of the number of shares held. Accordingly, ATHN requests that each stockholder complete, sign, date and return a proxy card (online or by mail) as soon as possible and by no later than 11:59 p.m. Eastern Time on December 27, 2021, to ensure that the stockholder’s shares will be represented at the Special Meeting. Stockholders which hold shares in “street name” (i.e. those stockholders whose shares are held of record by a broker, bank or other nominee) should contact their broker, bank or nominee to ensure that their shares are voted.
If any individual ATHN stockholder does not receive the Proxy Statement, such stockholder should (i) confirm his or her Proxy Statement’s status with his or her broker or (ii) contact Morrow Sodali LLC, ATHN’s proxy solicitor, for assistance via e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it. or toll-free call at (800) 662-5200. Banks and brokers can place a collect call to Morrow Sodali at (203) 658-9400.
ATHN expects to provide stockholders with additional information on how stockholders may vote their shares on its website in the coming days, and ATHN expects to publish a subsequent press release once the website is live.
Cautionary Note Regarding Forward-Looking Statements
This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Additional Information and Where to Find It
In connection with the proposed business combination, Athena Technology Acquisition Corp. (“Athena”) has filed with the Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 that has been declared effective by the SEC, which includes a prospectus of Athena with respect to the securities to be issued in connection with the business combination with Heliogen, Inc. (“Heliogen”) and a definitive proxy statement of Athena with respect to the Special Meeting. The combined proxy statement/prospectus relating to the proposed business combination will be mailed to Athena’s stockholders on or about December 6, 2021. This press release does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the business combination. The proposed business combination and related transactions will be submitted to stockholders of Athena for their consideration. Athena’s stockholders and other interested persons are advised to read the definitive proxy statement/prospectus and other documents filed in connection with Athena’s solicitation of proxies for its special meeting of stockholders to be held to approve, among other things, the proposed business combination and related transactions, because these materials contain important information about Heliogen, Athena and the proposed business combination and related transactions. The definitive proxy statement/prospectus and other relevant materials for the proposed business combination will be mailed to stockholders of Athena as of November 23, 2021. Stockholders may also obtain a copy of the preliminary or definitive proxy statement/prospectus, once available, as well as other documents filed with the SEC by Athena, without charge, at the SEC’s website located at www.sec.gov or by directing a request to Phyllis Newhouse, President and Chief Executive Officer, Athena Technology Acquisition Corp., 125 Townpark Drive, Suite 300, Kennesaw, GA 30144, or by telephone at (970) 924-0446.
Participants in the Solicitation
Athena, Heliogen and their respective directors and executive officers and other persons may be deemed to be participants in the solicitations of proxies from Athena’s stockholders in respect of the proposed business combination and related transactions. Information regarding Athena’s directors and executive officers is available in its Registration Statement on Form S-1 and the prospectus included therein filed with the SEC on March 3, 2021. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests are contained in the definitive proxy statement/prospectus related to the proposed business combination and related transactions, and which can be obtained free of charge from the sources indicated above.
No Offer or Solicitation
This communication shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction. This communication shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Athena Technology Acquisition Corp.
Athena Technology Acquisition Corp. is an entirely women-led special purpose acquisition company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses in the technology, direct-to-consumer and fintech industries.
About Heliogen
Heliogen is a renewable energy technology company focused on eliminating the need for fossil fuels in heavy industry and powering a sustainable future. The company’s AI-enabled, modular concentrated solar technology aims to cost-effectively deliver near 24/7 carbon-free energy in the form of heat, power, or green hydrogen fuel at scale – for the first time in history. Heliogen was created at Idealab, the leading technology incubator founded by Bill Gross in 1996. For more information about Heliogen, please visit heliogen.com.
Athena Technology Acquisition Corp. Contacts
For Media:
Berns Communications Group
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(973) 727-8400
(917) 922-4435
Heliogen Contacts
For Media:
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For Investors:
Caldwell Bailey
ICR, Inc.
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Optimized for Hyperscale Datacenter Power, 5G Rectifiers, EV Charging, and PV Inverters
SUNNYVALE, Calif.--(BUSINESS WIRE)--Alpha and Omega Semiconductor Limited (AOS) (Nasdaq: AOSL), a designer, developer, and global supplier of a broad range of power semiconductors and power ICs, and digital power products, today announced the release of 600V Low Ohmic and Fast Body Diode αMOS5™ Super Junction MOSFETs Family. αMOS5 is AOS’s latest generation of high voltage MOSFET, designed to meet the high efficiency and high-density needs for Quick Charger, Adapter, PC Power, Server, Industrial Power, Telecom, and Hyperscale Datacenter applications.
The first product released – AOK040A60 is a 600V 40mOhm αMOS5 low ohmic device with the industry-standard TO-247 package tailored to address the thermal challenges of today’s high-power AC/DC, DC/DC, and Inverter stages. As the EU ERP Lot9 regulation pushes the efficiency of single PSUs to Titanium level, AOS αMOS5 600V low ohmic family provides an ideal solution for single, interleaved, dual boost, totem-pole, and Vienna PFCs, as well as other hard-switching topologies. The 40mOhm product, followed by our upcoming 31mOhm, 65mOhm, and 80mOhm products, will provide customers with multiple choices to deal with different power ratings and efficiency requirements. The optimized capacitance of AOK040A60 will provide customers the best hard and soft switching performances, with fast turn-on/turn-off behaviors while avoiding the risks of self-turn-on or shoot-through, thanks to AOS’s silicon design and process know-how.
The second product released – AOK042A60FD is a 600V 42mOhm FRD (Fast Body Diode) device, designed to handle the repetitive hard commutation scenario, where the MOSFET’s freewheeling body diode is reversely recovered in HB (half-bridge) or FB (full bridge) topologies. The αMOS5 600V FRD solution will further increase the system reliability as the right-fit solution for HB/FB topologies where hard switching happens during abnormal operations, such as short-circuit or start-up transients. The low Qrr of AOK042A60FD will help significantly reduce the losses during reverse recovery.
Besides Server and Telecom power supplies, the AOK040A60, AOK042A60FD and their derivatives will also target the demanding EV DC charging and Solar Inverter applications.
The 600V αMOS5 family will have a portfolio expansion including more low ohmic and FRD products coming Q1’2022. As with most of our αMOS5 products, these new devices will also be fabricated in 300mm facilities, providing better supply elasticity during the global power semiconductor shortage.
“AOS’s commitment to high power SMPS applications is getting stronger. αMOS5 600V low ohmic and FRD solutions will make it possible for Server Power and Solar inverter designs to achieve higher power ratings while keeping the same form factors. Our devices’ superior efficiency will reduce customers’ TCO (total cost of ownership) by minimizing electricity, cooling and ventilation bills. Additionally, today’s EV charging stations have reached more than 50kW per module. As power density becomes an increasingly critical differentiation factor, lower ohmic devices provide better conduction loss, thus lower thermal stress to the system. With the release of our 600V low ohmic and FRD family, we will offer the industry’s best granularity of Rdsons and packages, covering a wide range of power ratings and densities. AOS’s market-proven αMOS5 600V low ohmic and FRD products are our answers for tomorrow’s server, telecom, solar, and EV charging applications, satisfying our customers’ growing demand for performance and reliability,” said Richard Zhang, Director of High Voltage MOSFET Product Line at AOS.
Technical Highlights
Pricing and Availability
The AOK040A60 (600V 40mOhm TO-247) and AOK042A60FD (600V 42mOhm TO-247) are immediately available in production quantities with a lead-time of 24 weeks. The unit price in 1000-piece quantities is $9.54 for AOK040A60 and $10.47 for AOK042A60FD.
About AOS
Alpha and Omega Semiconductor Limited, or AOS, is a designer, developer, and global supplier of a broad range of power semiconductors, including a wide portfolio of Power MOSFET, IGBT, IPM, TVS, HVIC, GaN/SiC, Power IC, and Digital Power products. AOS has developed extensive intellectual property and technical knowledge that encompasses the latest advancements in the power semiconductor industry, which enables us to introduce innovative products to address the increasingly complex power requirements of advanced electronics. AOS differentiates itself by integrating its Discrete and IC semiconductor process technology, product design, and advanced packaging know-how to develop high-performance power management solutions. AOS’s portfolio of products targets high-volume applications, including portable computers, flat-panel TVs, LED lighting, smartphones, battery packs, consumer and industrial motor controls, automotive electronics, and power supplies for TVs, computers, servers, and telecommunications equipment. For more information, please visit www.aosmd.com.
Forward-Looking Statements
This press release contains forward-looking statements that are based on current expectations, estimates, forecasts, and projections of future performance based on ’management’s judgment, beliefs, current trends, and anticipated product performance. These forward-looking statements include, without limitation, references to the efficiency and capability of new products and the potential to expand into new markets. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. These factors include, but are not limited to, the actual product performance in volume production, the quality and reliability of the product, our ability to achieve design wins, the general business and economic conditions, the state of the semiconductor industry, and other risks as described in the Company’s annual report and other filings with the U.S. Securities and Exchange Commission. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today’s date unless otherwise stated, and AOS undertakes no duty to update such information, except as required under applicable law.
Mina Galvan
Tel: 408.789.3233
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HAMILTON, Bermuda--(BUSINESS WIRE)--ST Energy Transition I Ltd. (the “Company”) announced today the pricing of 25,000,000 Stakeholder Aligned Initial Listing, or SAILSM security, at a price of $10.00 per SAILSM security. The SAILSM securities will be listed on the New York Stock Exchange and trade under the ticker symbol “STET.U” beginning December 3, 2021.
The Company was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination with a target in any industry or geographic location, it intends to focus its search on opportunities that contribute in positive ways towards energy transition and clean energy technology.
The Company’s board is led by John Fredriksen, chairperson, and includes independent directors Ole-Eirik Lerøy, Cato Stonex, James O’Shaughnessy, Tore Myrholt and Annika Sigfrid. Gunnar Eliassen is the Chief Executive Officer of the Company and Jan Erik Klepsland is the Chief Financial Officer of the Company.
Each SAILSM security consists of one Class A share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A share at a price of $11.50 per share. Once the securities constituting the SAILSM securities begin separate trading, the Class A shares and warrants will be listed on the New York Stock Exchange under the symbols “STET” and “STETWS,” respectively.
Morgan Stanley is acting as sole bookrunning manager and joint lead manager and DNB Markets is acting as joint lead manager in the offering. The Company has granted the underwriters a 45-day option to purchase up to 3,750,000 additional SAILSM securities at the initial public offering price to cover over-allotments, if any.
The initial public offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained for free from the U.S. Securities and Exchange Commission website (http://www.sec.gov), and Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, New York, New York 10014 or by e-mail to This email address is being protected from spambots. You need JavaScript enabled to view it..
A registration statement relating to the securities sold in the initial public offering has been declared effective by the U.S. Securities and Exchange Commission on December [2], 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Cautionary note regarding forward-looking statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and the anticipated use of the net proceeds thereof. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Media contact:
Gunnar Eliassen
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Tel: +1 (441) 295-6935
HOUMA, La.--(BUSINESS WIRE)--Chet Morrison Contractors, LLC (Morrison), a leading energy service company for the oil and gas industry, announces the hiring of Kirk Meche as Director of Renewable Energy. With more than three decades of experience as a thought-leader in the energy industry, Meche is responsible for propelling expansion into the wind and renewables sector. Meche has gained national attention for his role in pioneering the entrance of oil and gas fabricators into the wind energy business.
Prior to joining the Morrison team, Meche worked for over 23 years at Gulf Island Fabrication, Inc. (Gulf Island), a fabricator of complex steel structures and modules to the industrial and energy sectors. A publicly-traded company with a rich history in oil and gas, Gulf Island was the fabricator for Block Island, the first wind farm to be established in the U.S. Meche served in multiple leadership roles at the company, including board member and President/CEO. Meche also serves as the Executive Consultant to the Vice President of Nicholls State University.
“We are extremely proud to have Kirk join our team,” said CEO Chet Morrison. “His vast knowledge of the industry coupled with the strong relationships he has built amongst its key players make him an invaluable asset to oversee our growth in wind and renewables.”
Wind is the largest source of renewable power in the United States, with offshore energy pipeline development increasing 24% over the past year. Furthermore, the Biden Administration has also announced a goal to produce 30 gigawatts of offshore wind power by 2030. Morrison is committed to remaining an integral part of the supply chain to deliver alternative solutions for sustainable U.S. energy in the coming years.
Morrison has over 38 years of experience serving as a preferred contractor and fabricator for many leading energy companies, including Shell, Chevron, ExxonMobil, BP and others. With fabrication facilities in the U.S., Mexico and the Caribbean, Morrison is well-positioned to fabricate substations, jackets and ancillary components for large-scale projects. As a highly experienced shallow water shore approach and onshore pipeline installation contractor, Morrison is pursuing opportunities to utilize its experience and proficiency in this area to perform cable lay from substations to the onshore power grid.
“We fully understand the necessity to obtain clean and affordable energy solutions,” said Meche. “Morrison is proud to be a part of these efforts and is eager to facilitate a better tomorrow for the future of our nation.”
Morrison has also joined the Business Network for Offshore Wind Development to further grow its presence in the industry. The Business Network for Offshore Wind is a nonprofit, educational organization with a mission to develop the offshore wind renewable energy industry and its supply chain. The goal of the supply chain is to create and sustain jobs to benefit local economies and ensure a cost-effective clean energy portfolio.
ABOUT MORRISON
Chet Morrison Contractors, LLC (Morrison) is an energy service company that delivers integrated infrastructure solutions to clients in the oil and gas and renewables industries. With more than 38 years of experience, worldwide facilities and a wide range of specialized resources, the company prides itself on providing creative alternatives and value-added solutions to every project, both onshore and offshore. The company adheres to the highest standards of quality and safety with uncompromising regard for the environment. For more information, visit: www.morrisonenergy.com.
Kelly Reeves
VP of Marketing
Morrison
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985-858-3112
LOS ANGELES--(BUSINESS WIRE)--Faraday Future ("Faraday Future" or “the Company”) (Nasdaq: FFIE), today announced that the Company will release a business update after market close on Tuesday, December 7, 2021, and host a conference call at 4:00 p.m. (Eastern Time) on the same day.
Interested investors and other parties can listen to a webcast of the conference call by logging onto the Investor Relations section of the Company's website at https://investors.ff.com/ .
The conference call can be accessed live over the phone by dialing +1-877-451-6152 (domestic) or +1-201-389-0879 (international). A replay will be available approximately two hours after the call by dialing +1-844-512-2921, or for international callers, +1-412-317-6671. The pin for the replay is 13725483. The replay will be available until 11:59 p.m. Eastern Time on December 21, 2021.
About Faraday Future
Established in May 2014, Faraday Future is a global shared intelligent mobility ecosystem company, headquartered in Los Angeles, California. Since its inception, Faraday Future has implemented numerous innovations relating to its products, technology, business model, profit model, user ecosystem, and governance structure. On July 22, 2021, Faraday Future was listed on NASDAQ with the new company name “Faraday Future Intelligent Electric Inc.”, and the ticker symbols “FFIE” for its Class A common stock and “FFIEW” for its warrants. The “I” in FFIE stands for Intelligent and Internet and the “E” stands for Ecosystem and Electric. FF is not just an EV company, but also an internet and technology company, an AI product company, a software company, and a user ecosystem company. Faraday Future aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet and new usership models. With the ultimate intelligent techluxury brand positioning, Faraday Future’s first flagship product FF 91 Futurist is equipped with exceptional product power. It is not just a high-performance EV, an all-ability car, and an ultimate robotic vehicle, but also the third internet living space.
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For Faraday Future:
Mark Connelly
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John Schilling
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In collaboration with Stellantis, IVECO, Italian road operator A35 Brebemi-Aleatica motorway and many additional industry and research partners––ElectReon demonstrates contactless charging for a range of electric vehicles (EVs) while in-motion.
BEIT YANAI, Israel--(BUSINESS WIRE)--#EVs--ElectReon (TASE: ELWS.TA), the leading provider of inductive in-road charging technology for commercial and passenger electric vehicles, announced the launch of the “Arena of the Future'' project in Brescia, Italy where the company has integrated its wireless technology to charge an IVECO bus and Stellantis’s Fiat Nuova 500 passenger vehicle while driving. This project is demonstrating contactless charging for a range of EVs as they drive on highways and toll roads as a potential pathway to decarbonizing long-haul transportation systems along motorway transport corridors.
The construction and technical implementation of the 1,050-metre-long circuit equipped with ElectReon’s properarity in-road charging coils and supported by 1MW of electrical power has been successfully completed. Starting today, the “Arena of the Future” is showcasing ElectReon’s inductive EV charging technology as a technological enabler of an immediate, concrete solution to decarbonize the mobility sector. This technology, recently named one of TIME’s 100 Best Inventions of 2021, will speed up the transition to sustainable, fully electric transport as a direct response to global requirements for greenhouse gas (GHG) emissions reductions and enhanced environmental protection policy.
The first vehicles implemented at the “Arena of the Future”, a Fiat Nuova 500 and an IVECO E-way bus, have been equipped with ElectReon’s vehicle-side technology (“receiver”) that directly transfers the energy needed to charge and travel simultaneously. The receiver-equipped vehicles have already successfully completed extensive kilometres of dynamic (in-motion) charging along the 1,050 meter circuit and ongoing testing, calibration and experimentation will continue through the length of the project. ElectReon’s technology can be adapted to any electric vehicle, from a passenger vehicle to commercial truck, creating a shared platform for a “zero emissions” mobility system at scale.
ElectReon’s participation in this project highlights their commitment to ongoing strategic collaboration with major players in the global automotive industry and demonstrates the feasibility of its wireless charging technology for a full range of applications. This is a critical milestone towards ElectReon’s mission of offering fleet customers a complete and seamless vehicle-side wireless charging solution for rapid decarbonization. ElectReon’s wireless charging technology equips governments and policymakers with a sustainable way to reduce greenhouse gas (GHG) emissions throughout the entire life cycle of electric vehicles (EVs) and offers a viable path to expedited mass EV adoption and achieving net carbon emissions throughout the entire transportation sector.
“It has been an honor collaborating with world-class partners, including automotive giants IVECO and Stellantis, to launch Italy’s first Electric Road System (ERS).” said Oren Ezer, CEO of ElectReon. “We are proud to announce the launch of the first phase of the Arena of the Future project exhibiting a toll-road’s potential transformation into a charging asset and is demonstrating the ability for all road users to utilize inductive charging technology for EVs in the future. As Europe continues to lead the shift towards electric mobility, scalable advanced charging infrastructure paves the way for convenient on-the-go charging for road users. ElectReon’s wireless charging technology enables vehicles to charge as they drive at any speed on electrified highways.”
As one of the first and only companies able to demonstrate multiple miles of in-motion wireless charging on public roads, ElectReon is currently working on various pre-commercial projects across the globe ranging from Germany, Sweden and Israel with plans of expansion into North America. Most recently, ElectReon announced the development of its wireless charging network to support 200 public buses in Tel Aviv in the company’s first fully commercial deal with one of Israel’s largest Public Transport Operators after successfully delivering on the company’s initial pilot project. ElectReon also announced the recent addition of former President of Israel, Reuven “Ruvi” Rivlin, as the company’s president to facilitate relationships with world leaders to increase EV adoption, reduce fleet emissions, and accelerate ElectReon’s global impact.
This creation is one of first examples of international collaborative innovation for “zero emissions” mobility for people and goods, which today sees the collaboration of industry and academic institutions: A35 Brebemi-Aleatica, ABB, Electreon, FIAMM Energy Technology, IVECO, IVECO Bus, Mapei, Pizzarotti, Politecnico di Milano, Prysmian, Stellantis, TIM, Roma Tre University and the University of Parma.
About ElectReon
ElectReon is the leading provider of wireless charging solutions for electric vehicles (EVs), providing end-to-end charging infrastructure and services to meet the needs and efficiency demands of shared, public and commercial fleet operators and consumers. The company’s proprietary inductive technology dynamically (while in motion) and statically (while stopped) charges EVs quickly and safely, eliminating range anxiety, lowering total costs of EV ownership, and reducing battery capacity needs—making it one of the most environmentally sustainable, scalable, and compelling charging solutions available today. ElectReon works with cities and fleet operators on a charging as a service (CaaS) platform that enables cost-effective electrification of public, commercial, and autonomous fleets for smooth and continuous operation. For more information, visit electreon.com.
Media
Janine Ward
On behalf of ElectReon
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Investor Relations
Ehud Helft
GK Investor Relations
+1 646 201 9246
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We are taking positive action to achieve our ambitious carbon-reduction targets, which have been approved by the Science Based Targets initiative
LONDON--(BUSINESS WIRE)--Ricardo, a world-class environmental, engineering and strategic-consulting company, is pleased to announce that our proposed greenhouse gas emissions reduction targets have been approved by the Science Based Targets initiative (SBTi) and that they are in line with the goals set forth in the 2015 Paris Agreement.
The Science Based Targets initiative (SBTi) is a collaboration between the CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
We now join a growing group of global businesses that have received approval of their targets, ensuring that greenhouse gas emissions from Ricardo’s operations (scopes 1 and 2)1 are consistent with the reductions required to limit global warming to 1.5ºC, the most ambitious goal of the Paris Agreement.
“Ricardo has an important responsibility to reduce its carbon emissions throughout its value chain,” said Graham Ritchie, CEO of Ricardo plc. “As a global environmental and engineering consulting partner to governments and private sector clients, we are committed to integrating our climate change expertise into our corporate strategy and have set out ambitious greenhouse gas reduction targets, which includes working closely with our supply chain to tackle our scope 3 emissions”. What is more, the SBTi approval is a firm endorsement to our clients of our commitment and know-how in applying those same insights to support them in delivering their net zero strategies.”
"We congratulate Ricardo for setting science-based targets consistent with limiting warming to 1.5°C, the most ambitious goal of the Paris Agreement", said Sonya Bhonsle, Global Head of Value Chains & Regional Director of Corporations at CDP, one of the Science Based Targets initiative partners. "By aligning its goals with a 1.5°C future, Ricardo will be better placed to thrive as the global economy transitions to a zero emissions future."
The targets, as approved by the Science Based Targets initiative, are:
At Ricardo, we continue to accelerate our improvements to our sustainability agenda and remain firmly on target with our net zero strategy.
-ENDS-
About Ricardo
Ricardo plc is a world-class environmental, engineering and strategic consulting company listed on the London Stock Exchange. With over 100 years of engineering excellence, we provide exceptional levels of expertise in delivering leading edge and innovative cross-sector sustainable products and solutions, helping our global customers increase efficiencies, achieve growth, and create a clear and safer future. Our mission is clear –- to create a world fit for the future. For more information visit www.ricardo.com
1 “The GHG Protocol Corporate Standard classifies a company’s GHG [greenhouse gas] emissions into three ‘scopes’: Scope 1 emissions: direct emissions from owned or controlled sources; Scope 2 emissions: indirect emissions from the generation of purchased energy; Scope 3 emissions: all indirect emissions (not included in Scope 2) that occur in the value chain of the reporting company, including both upstream and downstream emissions.” UN Global Compact Network UK. https://www.unglobalcompact.org.uk/scope-3-emissions/
Media contacts:
Ricardo Group enquiries
Natasha Perfect
Group Marketing and Communications Director
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Telephone: +44(0) 7921 406 048
Ricardo media enquiries
Gill Gibbons
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Telephone: +44 (0) 7795 342804
Midland WTI will be Underpinned by Magellan and Enterprise’s Combined Pipeline, Storage and Marine Export Facilities in the Houston Area
HOUSTON & LONDON--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced the changes which ICE plans to implement to the ICE Permian West Texas Intermediate (WTI) Crude Oil futures contract (ICE: HOU) as it is restructured to become the ICE Midland WTI American Gulf Coast (Midland WTI AGC) futures contract.
Currently, the ICE Permian WTI futures contract is based on Magellan Midstream Partners, L.P. (NYSE: MMP) supply capacity and is deliverable at Magellan’s East Houston (MEH) terminal. Following the announcement by ICE, Magellan and Enterprise Products Partners L.P. (NYSE: EPD) in June 2021 and the subsequent completion of a market consultation, ICE is now working to add the Enterprise Crude Houston (ECHO) terminal as a delivery point, increasing the inbound supply capacity which underpins the contract to over four million barrels per day of Midland-quality WTI crude.
With both MEH and ECHO as delivery points, the futures contract will have export access to over 14 ship docks in the Houston area. Together Magellan and Enterprise’s Houston distribution systems offer 60 million barrels of combined crude storage capacity. These distribution systems connect to a further 90 million barrels of storage capacity, bringing the total to around 150 million barrels of total crude storage capacity in the Houston area, as well as offering additional direct access to water for exports and floating storage.
“U.S. crude fundamentals have been turned upside down over the last decade and we believe that WTI in Houston has become the most representative price for U.S. domestic crude oil,” said Jeff Barbuto, Global Head of Oil Markets at ICE. “Transparent pricing, deep underlying physical liquidity, expansive storage, and connectivity to local and global demand, mean Midland WTI AGC will offer the market a strong alternative for pricing and managing U.S. crude price risk.”
Following close engagement with the market, ICE has amended the crude oil quality specification of the futures contract to align more precisely with the current quality of WTI crude oil originating from the Permian Basin. This is published here along with the Contract Rules and Procedures.
Subject to the completion of regulatory processes, ICE will announce in due course when in early 2022 these changes will become effective and the ICE Permian WTI Crude Oil futures contract will be renamed as Midland WTI American Gulf Coast futures, retaining the contract code ICE:HOU.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.
ICE- CORP
Source: Intercontinental Exchange
ICE Media Contact:
Rebecca Mitchell
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+44 7951 057 351
ICE Investor Contact:
Mary Caroline O’Neal
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HOLZMINDEN, Germany--(BUSINESS WIRE)--GreenTech in the boiler room is boosting the economy in the German SME sector: Stiebel Eltron, the manufacturer of climate-friendly heating technology, has significantly increased its turnover in recent years to 700 million euros. Last year alone, sales surged 18 percent compared to the previous year (2019-2020). In the current financial year, this mark will once again be exceeded. The most important driver is the business with environmentally friendly heat pump systems "Made in Germany".
"In the last five years, our turnover from the sale of heat pumps has more than tripled," says Nicholas Matten, one of StiebeI Eltron's two managing directors. "By 2026, we aim to double the production capacities at our headquarters in Holzminden, Lower Saxony. To that end, we will invest around 120 million euros in our heat pump production.”
400 new greentech jobs
The economic success with greentech also has a positive impact on employment: 400 new jobs are to be created in Holzminden by 2026 and qualification programs will be expanded: "The environmentally friendly technology offers excellent career opportunities for the entire heating industry in Germany," says Human Resources Manager Christiane Schäfer. "Our heat pump systems help to fight climate change so that we create jobs for a market of the future."
550,000 new heat pumps per year
The forecasts are extremely positive: in order to achieve the climate targets, Germany must quickly push ahead and install at least 500,000 new alternative heating systems every year - according to the calculation of experts. German consumers can take advantage of generous subsidies for switching from old oil and gas heating systems to heat pump systems.
Lower electricity prices needed
"Policymakers must relieve the price of electricity from state levies," says Nicholas Matten. "In France or the UK, for example, electricity costs a third less compared to Germany. The decision in the coalition agreement of the new government to abolish the ‘EEG levy’ from January 2023 is the right approach to unleash the full potential of greentech."
About Stiebel Eltron
Stiebel Eltron is one of the world’s market leading suppliers of technology products for building services and green tech: STIEBEL ELTRON Group (stiebel-eltron.com)
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Carsten Heer
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CALGARY, Alberta--(BUSINESS WIRE)--#ESG--Validere, a leader in bringing product data transparency to the oil and gas industry, announced that together with critical partners Xpansiv, Pacific Canbriam Energy, and Clearstone Engineering (“the partners”), they have received $1.2 million of support through Sustainable Development Technology Canada (STDC). The funding will accelerate the development of technology that supports the low emissions gas market in Canada and globally.
Validere uses data to enable energy companies to be more efficient, reduce emissions, and improve revenues. The company helps more than 40 producers, midstream, and downstream energy companies consolidate their commodity inventory data into a single repository, so they have a detailed “genealogy” of every molecule as it progresses through the energy supply chain.
The project empowers Validere and its partners to continue pioneering the capture, validation, and transfer of additional data on each molecule, including emissions like methane. This allows buyers to confidently purchase the most responsibly sourced gas. Xpansiv maintains the registry for the datasets, removing the risk of double counting and ensuring transparency for buyers seeking to create demand for emissions reductions. Validere is the data layer for the ecosystem, while Clearstone calculates the emissions profile associated with the field-level data from Validere. In addition, Pacific Canbriam, as the responsible gas producer, is creating groundbreaking new datasets from its Canadian assets.
“For Canadian producers, this is a great opportunity as they hold an abundance of resources that are developed responsibly,” said Mark Le Dain, SVP of Strategy and Corporate Development at Validere. “We are supporting an ecosystem that now lets them prove this responsible approach and get rewarded. Emissions amongst gas producers can vary by a factor of four, which has created confusion on how critical natural gas is to reduce global emissions. Once the market can clearly see emissions at a producer level, it should incentivize the increased adoption of gas so long as the right molecule is produced, transported, and consumed. This ecosystem is great for Canadian producers and the environment, and we are excited to partner with SDTC in this mission.”
“This funding will further enhance the technology used to transparently demonstrate to our downstream customers, the responsible nature in which our gas is produced. We recently achieved EO100™ Standard Certification – this means our gas has been externally verified as being responsibly sourced. At Pacific Canbriam, we always strive to produce even more sustainable energy and continuously seek out new technology to further reduce global greenhouse gas emissions,” said Paul Myers, President of Pacific Canbriam Energy.
"The SDTC funding will help our consortium accelerate the development of markets for low emissions natural gas and other fuels," said Peter Schriber, Xpansiv VP of Market Development, Canada. "We're providing market participants and consumers with a clear path to reach increasingly aggressive ESG targets and empowering the market to reward producers with superior environmental performance. Together, we're ushering in a new era of transparency and measurable climate action, enabling more informed procurement decisions based on empirical, site-specific activity.”
About Validere
Validere is a leading data and analytics SaaS provider that is digitally transforming the world’s largest supply chain to be more sustainable and efficient. Our Product Data Cloud enables energy companies to aggregate all commodity inventory data into a complete, accurate, and auditable repository that allows them to create a real-time digital fingerprint of the molecule. Using this single-source-of-trust and our digital infrastructure models, energy professionals across operations, commercial, and ESG functions can now quickly make data-driven decisions on a daily basis. By partnering with us, business leaders leverage our unique datasets and our experts in data science, physical science, and oil and gas to create a company-wide value engine. As a result, more than 40 of North America’s leading energy companies now realize the full value of their commodities through higher commercial margins, reduced operational costs and risks, and meaningful ESG progress.
About Sustainable Development Technology Canada
Sustainable Development Technology Canada (SDTC) helps Canadian companies develop and deploy competitive, clean technology solutions, to help solve some of the world’s most pressing environmental challenges: climate change, clean air, clean water and clean soil. By taking a cross-Canada approach, from seed to scale, and in partnership with best peers and experts, SDTC is the global benchmark for sustainable development innovation programming.
About Xpansiv
Xpansiv is the global marketplace for ESG-inclusive commodities. These Intelligent Commodities bring transparency and liquidity to markets, empowering participants to value energy, carbon, and water to meet the challenges of an information-rich, resource-constrained world. The company’s main business units include CBL, the leading spot exchange for ESG commodities, including carbon, renewable energy certificates, and Digital Natural Gas™; H2OX, the leading spot exchange for water in Australia; XSignals, which provides end-of-day and historical market data; and EMA, the leading multi-registry portfolio management system for all ESG-inclusive commodities. Xpansiv is the digital nexus where ESG and price signals merge.
About Pacific Canbriam Energy Limited
Pacific Canbriam Energy Limited is a private exploration and production company with a focus on liquids-rich natural gas development. Its principal producing properties and acreage positions are in the Altares and Kobes Montney regions of northeast British Columbia. Pacific Canbriam is an industry leader in water management and recycling, and unique in the ownership of all infrastructure. The company was founded in 2007 and is headquartered in Calgary, Alberta with an office in Fort St. John, British Columbia.
About Clearstone Engineering
Clearstone is an international process and environmental engineering firm specializing in air emission assessments and industrial air pollution control. Clearstone provides advanced engineered solutions and source-testing services to the natural gas, petroleum, petrochemical and energy industries. Their goal is to help clients evaluate and resolve their air emission problems.
Erin Farrell Talbot
Farrell Talbot Consulting
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Ben Tao
Validere
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HSINCHU, Taiwan--(BUSINESS WIRE)--#COVID19--National Tsing Hua University (NTHU) was awarded the Taiwan University Sustainability Award at the 14th Taiwan Corporate Sustainability Awards (TCSA) held by the Taiwan Institute for Sustainable Energy (TAISE) on November 17. Standing out amongst the 38 participating universities, NTHU was ranked first in the comprehensive evaluation, and in the individual competitions also received the Social Inclusion Leadership Award and the University Sustainability Report Gold Award.
The judges cited the exemplary way in which NTHU has built on its core competence in teaching and research to respond with concrete actions in meeting the requirements of sustainable development, including the implementation of a campus-wide campaign for reducing energy consumption and carbon emissions. In addition, they were impressed by NTHU’s workplace ethics emphasizing diversity and equality, as well as the way in which faculty and staff are rewarded for outstanding performance in research, teaching, counseling, and public service, all of which has had a positive impact on the larger society and enhanced the university’s international profile. In terms of sustainability, NTHU has consistently demonstrated what is meant by its school motto, “To Oneself Be True, Give Nature Its Due.”
President Hocheng Hong said that the natural beauty of the campus goes hand-in-hand with the principles of sustainability. In addition to being the first university in Taiwan to appoint a chief sustainability officer, NTHU has a total of 517 undergraduate courses related to sustainability, and 216 at the graduate level, which together amount to 13% of the school’s courses.
NTHU senior vice president and chief sustainability officer Tai Nyan-hwa pointed out that in order to deepen the concept of sustainability on all levels, each administrative and academic department has appointed a sustainability officer, all 26 of whom belong to the Sustainability Committee, which meets every two months to discuss the latest developments and coordinate their efforts.
Sustainability Office director Lin Fu-ren said that since research, teaching, and public service are the most important tasks of a university, the school’s early efforts in promoting sustainability focused on encouraging teachers, researchers, and students to integrate the principles of sustainability into their ongoing work. Numerous faculty members at NTHU are conducting research directly related to the 17 goals of sustainable development promulgated by the United Nations. In the process, they have demonstrated how focusing attention on an issue generates positive change.
Lin said that in addition to the ongoing Rising Sun Scholarship for financially disadvantaged students, NTHU has established a special fund for assisting students undergoing hardship due to the COVID-19 pandemic, both of which tie in with the UN’s sustainability goals of “no poverty” and “quality education.”
Lin also pointed out that making sustainable development a reality requires planting the seeds of sustainability in the hearts of students, so that when they graduate, these seeds will sprout and grow strong throughout society.
Holly Hsueh
NTHU
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DUBLIN--(BUSINESS WIRE)--The "Pipeline Safety Global Market Report 2021: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
The global pipeline safety market is expected to grow from $7.02 billion in 2020 to $7.75 billion in 2021 at a compound annual growth rate (CAGR) of 10.37%.
The growth is mainly due to the network monitoring, increased spending for pipeline infrastructure by oil and gas companies, growing concerns over pipeline security, demand for leak detection, and the increase in the oil and gas leakage incidence/accidents.
The market is expected to reach $11.62 billion in 2025 at a CAGR of 10.67%.
The pipeline safety market consists of sales of pipelines by entities (organizations, sole traders, and partnerships) that provide software technology and solutions to protect and secure pipelines that carry energy products such as crude oil, natural gas, and other fuels. Integration of pipeline safety into pipelines allows monitoring and controlling the main network connectivity and also has various benefits such as reduction of liability, less insurance cost, and low administration cost.
The main types of components for the pipeline safety market are solutions and services. Solutions include premier intrusion detection, secure communication, SCADA for pipeline, pipeline monitoring system, and industrial control system security. Premier intrusion detection is a network security technology which have fence mounted sensor to detect any form of intrusion from the perimeter and help in allowing critical time for security teams to respond to unauthorized intrusions.
Secure connection is when two parties are communicating and not allowing the third party to listen to it. SCADA (supervisory control and data acquisition) for a pipeline is used to detect the error and for transferring the information and necessary data for the operation of the pipeline facility through communication networks.
The pipeline monitoring system includes dashboards to visualize the metrics of the pipeline functionality, industrial control system security helps to strengthen cybersecurity. The services used in pipeline safety are professional and pipeline integrity management services. The services are used by natural gas, crude oil, refined products, and others.
North America is the largest region in the pipeline safety market in 2020. Asia-Pacific is expected to grow faster in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The use of artificial intelligence (AI) for detecting issues in the pipeline is a key trend in the pipeline safety market. The technologies like artificial intelligence (AI), and leak detection software improve pipeline security and safety.
In December 2019, Honeywell, a USA-based company that is engaged in providing building technologies, gas detection solutions announced the acquisition of Rebellion Photonics for an undisclosed amount. This acquisition complements Honeywell strong process technologies and gas detection solutions and accelerates to transform into a software-industrial company.
The increase in demand for oil and gas leads to the development of pipeline infrastructure, which eventually drives the growth of the pipeline safety market. For instance, in January 2021, the Government of India announced the plan to spend $60 billion for establishing gas infrastructures such as pipelines, liquefied natural gas terminals, and city gas distribution networks.
In 2020, the United States imported around 7.86 MMb/d of petroleum, which included 5.88 MMb/d of crude oil and 1.98 MMb/d of noncrude petroleum liquids and refined petroleum products. The rise in the usage of piped gas lines contributes to the demand for the pipeline safety market.
Major players in the pipeline safety market are
Key Topics Covered:
1. Executive Summary
2. Pipeline Safety Market Characteristics
3. Pipeline Safety Market Trends and Strategies
4. Impact Of COVID-19 On Pipeline Safety
5. Pipeline Safety Market Size and Growth5.1. Global Pipeline Safety Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Pipeline Safety Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Pipeline Safety Market Segmentation
6.1. Global Pipeline Safety Market, Segmentation by Component, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.2. Global Pipeline Safety Market, Segmentation by End User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.3. Global Pipeline Safety Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7. Pipeline Safety Market Regional and Country Analysis
7.1. Global Pipeline Safety Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Pipeline Safety Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/y6x24s
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DENVER--(BUSINESS WIRE)--Palantir Technologies Inc. (NYSE: PLTR), a leading builder of operating systems for the modern enterprise, and Kinder Morgan, Inc. (NYSE: KMI), one of the largest energy infrastructure companies in North America, today announced a multi-year partnership to deploy Palantir’s data integration software platform, Foundry, in Kinder Morgan’s storage operations to drive efficiency and safety.
Kinder Morgan will deploy Foundry to optimize its U.S.- based gas storage operations. Operators and decision makers will be provided with a common operating picture of the company’s infrastructure, connecting transactional systems data streams, analysis, and operations over supply, grid integrity, customers, and pricing. With real-time access to this information, Foundry will enable Kinder Morgan to make data-driven decisions on gas storage, optimization, and maintenance scheduling.
“Safety, reliability and affordability are critical to the nation’s energy infrastructure. Utilizing Foundry will strengthen Kinder Morgan’s ability to maintain its lead in those fields,” said Shyam Sankar, Palantir’s Chief Operating Officer. “Energy companies like Kinder Morgan have vast amounts of data from disparate sources that rarely interact, and we believe Foundry is the best tool on the market to solve this complex problem.”
Palantir Foundry is a vertically integrated software platform that bridges the full spectrum of data operations- from ingestion and integration, to transformation, to reporting and the development of operational workflows and tooling through a rapid application development environment. Kinder Morgan will use Foundry to analyze millions of data points from sensors across its entire pipeline network, contracts and storage assets, electricity consumption and weather data, grid data and commodities data to provide it with an overview of business operations.
“Palantir’s Foundry was particularly useful at delivering us results on critical and complex challenges quickly,” said Mark Huse, Kinder Morgan’s CIO. “In our business we put a premium on doing things safely, to be able to also move at such speed is extremely valuable.”
Palantir has a long history of working with the industrial, infrastructure and energy sector in the United States and abroad.
About Palantir Technologies Inc.
Palantir Technologies Inc. builds and deploys operating systems for the modern enterprise. Additional information is available at www.palantir.com.
Who dares, wins.
About Kinder Morgan, Inc.
Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. We are committed to providing energy transportation and storage services in a safe, efficient, and environmentally responsible manner for the benefit of people, communities and businesses we serve. We own an interest in or operate approximately 83,000 miles of pipelines and 144 terminals. Our pipelines transport natural gas, renewable fuels, refined petroleum products, crude oil, condensate, CO2 and other products, and our terminals store and handle various commodities including gasoline, diesel fuel, chemicals, ethanol, metals and petroleum coke. Learn more about our renewables initiatives on the low carbon solutions page at www.kindermorgan.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir’s expectations regarding the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms’ reliability; and our customer’s ability to modify or terminate its contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
Lisa Gordon
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SANTA CRUZ, Calif.--(BUSINESS WIRE)--Joby Aviation (NYSE: JOBY), a California-based company developing all-electric vertical take-off and landing (eVTOL) aircraft for commercial passenger service, today announced the appointment of Paul Rinaldi, former President of the National Air Traffic Controllers’ Association (NATCA), to its Advisory Board.
Rinaldi was president of NATCA from 2009-2021, the longest-serving elected leader in the organization’s history. During his tenure, Rinaldi worked extensively with the Federal Aviation Administration (FAA) to improve airspace safety. Prior to assuming leadership positions at NATCA, Rinaldi worked for 15 years as an air traffic controller at Washington-Dulles Tower (IAD).
Rinaldi’s work to improve airspace safety and deep relationships with airspace management stakeholders — including as Vice President of the Global Air Traffic Controllers Alliance — will prove invaluable to Joby’s success as a commercial operator.
Rinaldi joins Joby as the Company focuses on receiving FAA certification for its aircraft, launching scaled manufacturing, and laying the groundwork for planned initial passenger operations in 2024. As a member of the Advisory Board, Rinaldi will support and advise Joby on the steps necessary to safely integrate flights into the National Airspace System.
“Paul knows what it takes to ensure the continued safety and efficiency of the airspace and air traffic management system,” said JoeBen Bevirt, Founder and CEO of Joby. “His expertise will be so valuable as we work toward making fast and clean everyday flight a reality with our aircraft.”
Commenting on his appointment, Rinaldi added: “I have had the privilege of working closely with air traffic controllers’ unions, the FAA, and many other stakeholders to maintain the safety of our airspace, and I look forward to continuing that mission with Joby to shape and integrate an entirely new form of air transportation. JoeBen and his team have designed a revolutionary aircraft, and I believe they will completely change the way we think about flight in the decades to come.”
During his tenure as president of NATCA, Rinaldi held positions on the FAA’s Management Advisory Council (MAC) and NextGen Advisory Committee (NAC).
In March, Joby announced Dan Elwell, former Acting Administrator of the FAA, as the first member of its Advisory Board. Elwell recently participated alongside Joby’s management team in a presentation regarding the Company’s path to aircraft certification, which can be viewed at ir.jobyaviation.com.
About Joby Aviation
Joby Aviation, Inc. (NYSE: JOBY) is a California-based company developing an all-electric vertical take-off and landing aircraft which it intends to operate as part of a fast, quiet, and convenient air taxi service beginning in 2024. The aircraft, which has a maximum range of 150 miles on a single charge, can transport a pilot and four passengers at speeds of up to 200 mph. It is designed to help reduce urban congestion and accelerate the shift to sustainable modes of transit. Founded in 2009, Joby employs approximately 1,000 people, with offices in Santa Cruz, San Carlos, and Marina, California, as well as Washington D.C. and Munich, Germany. To learn more, visit www.jobyaviation.com.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding Joby's intentions and plans. Forward-looking statements give Joby’s current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including: Joby’s limited operating history and history of losses; its ability to launch its aerial ridesharing service and the growth of the urban air mobility market generally; Joby’s plans to operate a commercial passenger service beginning in 2024; the competitive environment in which it operates; its future capital needs; its ability to adequately protect and enforce its intellectual property rights; its ability to effectively respond to evolving regulations and standards relating to its aircraft; its reliance on a third-party suppliers and service partners; uncertainties related to Joby’s estimates of the size of the market for its aircraft and future revenue opportunities; and other important factors discussed in the section titled “Risk Factors” in its Registration Statement on Form S-1 (File No. 333-260608) filed with the Securities and Exchange Commission on October 29, 2021, and in other reports the Company files with or furnishes to the SEC. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this press release. While Joby may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, even if subsequent events cause its views to change.
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