MANILA, Philippines--(BUSINESS WIRE)--KKR, a leading global investment firm, today announced that, following the completion of the voluntary tender offer period by Philippines Clean Energy Holding Inc. (the “Offeror”), an entity owned by KKR investment funds, the Offeror has waived its maximum limit of 205 million shares under the terms of the tender offer and accepted all of the 262,937,672 common shares of First Gen Corporation (PSE: FGEN) (“First Gen” or the “Company”) that were tendered by shareholders at the close of the tender offer. The shares tendered to and accepted by the Offeror represent approximately 7.3% of First Gen’s outstanding common shares.
The Offeror intends to acquire all of these tendered common shares at a price of ₱33 (US$0.65) per common share through a block sale on the facilities of the Philippine Stock Exchange, Inc. on October 8, 2021, the cross date previously set out in the Offeror’s tender documents. The transaction represents a total investment value of ₱8.68 billion (~US$171 million). With the completion of the share acquisition, KKR, which is an existing shareholder in First Gen, will hold an approximately 19.9% ownership stake in the Company.
First Gen is one of the Philippines’ largest independent power producers and is a subsidiary of First Philippine Holdings Corporation. First Philippine Holdings of the Lopez Group is one of the most established conglomerates in the Philippines. The Company primarily generates power through renewable energy and indigenous fuel sources such as natural gas, geothermal energy from steam, hydro-electric, wind, and solar power. First Gen has 3,495 megawatts of installed capacity in its portfolio, which accounts for 19% of the Philippines’ gross power generation.
Michael de Guzman, a Managing Director on KKR’s Infrastructure team, said, “After having been invested in First Gen for this past year, our admiration for First Gen’s business and strategy – including its work to support the energy transition in the Philippines – as well as its Board and management team has only increased. Today, we are pleased to have this opportunity to extend our shareholding in First Gen and support its work to provide critical energy solutions to millions of Filipinos across the country. This investment marks the latest milestone for KKR in the Philippines, and deepens our commitment to the market.”
Southeast Asia is a key part of KKR’s Asia infrastructure strategy, and KKR’s new investment in First Gen extends the Firm’s track record as an active investor in the region across asset classes. In addition to First Gen, KKR’s investments in the Philippines include Pinnacle Towers, a leading independent telecom tower platform; Metro Pacific Hospitals, the country’s largest private hospitals operator and healthcare network; and Voyager Innovations, a leading technology company.
KKR makes its investment from its Asia Pacific Infrastructure Fund.
About KKR
KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
About First Gen
First Gen is a leading independent power producer in the Philippines that primarily utilizes clean and indigenous fuels such as natural gas, geothermal energy from steam, hydro-electric, wind, and solar power. The Company has 3,495MW of installed capacity in its portfolio, which accounts for 19% of the country’s gross generation. First Gen is a subsidiary of First Philippine Holdings Corporation, one of the most established conglomerates in the Philippines, and has over 20 years of experience in power development. It is part of the Lopez Group of Companies.
KKR Media Contacts:
Anita Davis
+852 3602 7335
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Wei Jun Ong
+65 6922 5813
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EON (For KKR in the Philippines)
Alexander Capiz
+639175474708
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New partnership will embed quality assurance at every stage of the product lifecycle, enabling agile product introduction
BURLINGTON, Mass.--(BUSINESS WIRE)--#ehs--Hexagon’s Manufacturing Intelligence division, a global leader in sensor, software, and autonomous technologies, and ETQ, a leading quality management system (QMS) provider, have announced a partnership to assure quality from concept to customer, enabling improved data-driven decision making throughout the entire process, producing better, more consistent products in less time and with less resource and enabling progressive smart manufacturing strategies.
The partnership connects Hexagon’s vendor-agnostic inspection and measurement solutions with ETQ’s stakeholder-connecting QMS to produce a rich digital thread that automatically captures quality control and assurance processes that are currently performed manually. By applying machine learning and artificial intelligence throughout design, production, customer service and support the cloud platform also helps users to rapidly identify and analyze issues by producing actionable insights.
Rob Gremley, CEO of ETQ, said: “Manufacturers in a range of industries – automotive, life sciences, heavy manufacturing and beyond – will derive immediate value from the integrated data thanks to higher product quality and fewer defects, scrap, rework or recalls. As the Smart Manufacturing environment evolves, this level of data-driven automation and integration will deliver the ability to maximize the quality and efficiency of the complete manufacturing lifecycle and create the foundation for autonomous manufacturing and true digital transformation.”
Paolo Guglielmini, President of Hexagon’s Manufacturing Intelligence division, said: “Consumers perceive quality based on their experience. It is the manufacturer’s brand reputation, it can add significant value to a product, and it combines every aspect of the product lifecycle. Our customers trust our solutions to connect the shop floor to the top floor with pervasive quality assurance, and this new addition to our ecosystem will further support their journey towards Industry 4.0.”
An example of how the partnership will benefit customers today is in resolving a nonconformance incident, leveraging inspection and measurement data collected and managed by Hexagon’s Q-DAS and eMMA software solutions with full traceability and best in class Statistical Quality Control (SQC) and Analytics, and integrated with ETQ Reliance’s QMS.
Hexagon’s existing quality control solutions can identify a nonconformance from, for example, the Production Part Approval Process, Failure Modes and Effects Analysis, or customer feedback, at which point the digital connection between that manufacturing solution and the ETQ QMS will autonomously generate a nonconformance report (NCR) without human intervention.
Typically, the action to halt or modify production of the faulty product is handled manually or with limited technological help, but with a combined Hexagon-ETQ generated NCR solution, a corrective action can be automatically triggered in production and the information simultaneously updated in the company’s enterprise resource planning system to put the affected product batch on hold. This prevents the release and potential negative consequences of defects, efficiently digitizing the quality management process and providing an unprecedented degree of integration across the manufacturing lifecycle and support smart manufacturing strategies and aspirations.
For more information about the partnership, visit the partnership web page.
About Hexagon
Hexagon is a global leader in sensor, software and autonomous solutions. We are putting data to work to boost efficiency, productivity, and quality across industrial, manufacturing, infrastructure, safety, and mobility applications.
Our technologies are shaping urban and production ecosystems to become increasingly connected and autonomous – ensuring a scalable, sustainable future.
Hexagon’s Manufacturing Intelligence division provides solutions that utilise data from design and engineering, production and metrology to make manufacturing smarter. For more information, visit hexagonmi.com.
Hexagon (Nasdaq Stockholm: HEXA B) has approximately 20,000 employees in 50 countries and net sales of approximately 3.8bn EUR. Learn more at hexagon.com and follow us @HexagonAB.
About ETQ
ETQ is the leading provider of quality, EHS and compliance management software, trusted by the world’s strongest brands. Nearly 600 global companies, spanning industries including pharmaceuticals, electronics, heavy industry, food and beverage, and medical devices, use ETQ to secure positive brand reputations, deliver higher levels of customer loyalty and enhance profitability. ETQ Reliance offers built-in best practices and powerful flexibility to drive business excellence through quality. Only ETQ lets customers configure industry-proven quality processes to their unique needs and business vision. ETQ was founded in 1992 and has main offices located in the U.S. and Europe. To learn more about ETQ and its various product offerings, visit www.etq.com.
ETQ
Chris Nahil
Director, Content, PR and AR
Phone: +1 781-488-5050 x648
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Hexagon
Robin Wolstenholme (UK based)
Global Media Relations and Analyst Relations Manager
Hexagon’s Manufacturing Intelligence Division
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HOUSTON--(BUSINESS WIRE)--Hess Midstream LP (NYSE: HESM) (“HESM”) today announced the upsizing and pricing of an underwritten public offering of an aggregate 7,500,000 Class A shares representing limited partner interests in HESM by a subsidiary of Hess Corporation and an affiliate of Global Infrastructure Partners (the “Selling Shareholders”), at a public offering price of $26.00 per Class A share. The offering was upsized from the previously announced 6,000,000 Class A shares. The Selling Shareholders have granted the underwriters a 30-day option to purchase up to 1,125,000 additional Class A shares at the public offering price less underwriting discounts and commissions.
The gross proceeds from the sale of Class A shares by the Selling Shareholders are expected to be approximately $195,000,000. HESM will not receive any proceeds from the sale of Class A shares in the offering. The offering is expected to close on October 8, 2021, subject to customary closing conditions.
J.P. Morgan Securities LLC and Citigroup Global Markets Inc. are acting as joint bookrunning managers of the offering.
The offering of these securities is being made only by means of the prospectus supplement and accompanying base prospectus as filed with the Securities and Exchange Commission (the “SEC”). Copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained free of charge on the SEC’s website at www.sec.gov under HESM’s name or from the underwriters of the offering as follows:
J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions,
1155 Long Island Avenue
Edgewood, New York 11717
Telephone: 1-866-803-9204
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Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Telephone: 800-831-9146
The Class A shares are being offered and will be sold pursuant to an effective shelf registration statement that was previously filed with the SEC. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
About Hess Midstream LP
HESM is a fee-based, growth-oriented midstream company that owns, operates, develops and acquires a diverse set of midstream assets to provide services to Hess Corporation and third-party customers. HESM owns oil, gas and produced water handling assets that are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of U.S. securities laws. Words such as “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “would,” “believe,” “intend,” “project,” “plan,” “predict,” “will,” “target” and similar expressions identify forward-looking statements, which are not historical in nature. Forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from our historical experience and our current projections or expectations of future results expressed or implied by these forward-looking statements. You should keep in mind the risk factors and other cautionary statements in the filings made by HESM with the SEC, which are available to the public. HESM undertakes no obligation to, and does not intend to, update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Investor Contact:
Jennifer Gordon
(212) 536-8244
Media Contact:
Robert Young
(713) 496-6076
With the largest solar software company fundraising round in Europe, PVcase expands to the U.S. to build a data-driven platform for solar engineering needs
KAUNAS, Lithuania--(BUSINESS WIRE)--PVcase, a Lithuanian-based solar software provider, announced today that it raised more than $23 million USD in Series A funding, making this the largest solar software company fundraising round in Europe. Elephant led the funding round, along with existing investors Contrarian Ventures and Practica Capital.
Founded in 2018, PVcase helps companies design, estimate, and optimize commercial and utility scale solar assets. PVcase allows its customers to deliver market-leading projects faster than their competitors by transforming complex engineering processes with a simple and intuitive interface.
“Because PVcase runs on AutoCAD and can export to PVSYST, our engineering team is able to quickly and accurately complete site layouts and energy models,” said Patrick Canning, Vice President of Engineering at Nexamp. “We have been very satisfied with PVcase’s software, customer service, and the continued improvement of their product.”
“Securing one of the biggest clean technology funding rounds on the heels of achieving 4x ARR growth over the last year further validates the innovation PVcase is bringing to the entire value chain,” said David Trainavicius, founder and CEO of PVcase. “PVcase is proud to be leading the way as companies look for engineering solutions to help streamline the end-to-end processes of PV design.”
PVcase will use this new funding to further the development of its products, support expansion in the U.S., and accelerate hiring remotely and at its offices in Lithuania, Spain and Germany. Scaling out the company’s product portfolio will include key investments in building a data-driven solar technology platform for all solar engineering needs. This includes a product pipeline to cover the entire solar project lifecycle – from sales and development to construction, operation, and maintenance.
“On a mission to fight climate change with software, PVcase has quickly established itself as one of the most exciting solar technology companies in the world,” said Peter Fallon, general partner at Elephant VC. “These are solutions built by solar engineers for solar engineers and provide an opportunity to begin a new era of accelerated solar innovation.”
As a result of the investment, Elephant’s Peter Fallon will be added to the PVcase Board.
To learn more about PVcase products or to schedule a demo, please visit pvcase.com.
About Elephant VC
Elephant is a venture capital firm focused on the enterprise software, consumer internet and mobile markets. The company was founded in 2015 and is headquartered in Boston, Massachusetts.
About Contrarian Ventures
Contrarian Ventures is a hands-on, community-focused and founders vetted early-stage sustainable energy transition focused VC in Europe & Israel Aside from the core activity of the Fund — investing, Contrarian Ventures has also founded several initiatives that are contributing to the fostering of the energy community in Europe incl. Climate50, Energy Tech Summit, and Energy Tech Challengers.
About Practica Capital
Practica Capital is a dedicated Baltic VC focusing on investments in the Baltic (Lithuania, Latvia, Estonia) and Baltic-origin (e.g. Baltic diaspora) ventures in Europe. Practica Capital invests in ventures backing great teams behind the tech-driven businesses from the region and partnering with them as company builders.
About PVcase
PVcase is a solar technology company that develops software solutions for commercial and utility scale solar asset owners. To date, PVcase has delivered service to customers in more than 50 countries in Europe, North and South America, Asia, and Australia. Some of their clients include: BayWa r.e., Borrego, Statkraft, and Atwell Group.
Media
Red Lorry Yellow Lorry for PVcase
Megan O’Meara
+1 857 217 2886
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LONDON--(BUSINESS WIRE)--I Squared Capital, a leading global infrastructure investor, has established Cube Green Energy, a renewable energy platform dedicated to accelerating the energy transition to a zero-carbon economy. The platform will develop, repower, construct, and operate wind and solar farms, as well as invest in the deployment of associated emerging technologies such as battery storage and green hydrogen. Cube Green Energy’s initial focus will be the mature renewables markets in Continental Europe that are at the forefront of the energy transition.
Cube Green Energy is led by former senior executives from GE Energy Financial Services (GE EFS), the energy investment arm of General Electric Company, with over 70 years combined global power markets experience including more than 40 years in renewable energy.
Cube Green Energy CEO, Raghuveer Kurada, has held various leadership roles at GE EFS, including successfully closing and managing over $10 billion of value-accretive investments globally as Head of Global Deal Execution. Most recently, he was responsible for raising over $6 billion in third-party equity and debt for GE projects as Head of Global Capital Advisory.
The other members of the management team include Sharad Jain, Niko Meissner, and Hussain Shalchi. Sharad Jain has over 25 years and 15+ GW of global energy sector investment experience and brings deep domain knowledge in asset investment, management and financial structuring. Niko Meissner has more than 15 years of renewables development experience with GE Power, GE EFS, Vestas and, most recently, Aquila Capital having managed the development of over 6 GW of power generation capacity and will be instrumental in establishing the German operations which is one of the largest target markets. Hussain Shalchi has held various senior positions in the energy sector including acting as Managing Director and Global Counsel at GE EFS and, most recently, as Head of Strategic Joint Venture at Ørsted.
“I Squared Capital has invested over $6.5 billion in transition energy, including $4 billion in 12 renewable energy companies globally since 2014, and we are continuing that strategy with a world-class management team that brings deep experience, industry knowledge and on the ground presence to address an unmet market demand,” said Gautam Bhandari, Managing Partner at I Squared Capital. “Using our platform building strategy, we look to initially commit up to $500 million over the coming years to build Cube Green Energy into a leading renewables company that can help enable Europe’s transition to a zero-carbon economy.”
“Companies and governments must innovate to replace base load power with renewables to meet ambitious climate targets,” said Raghuveer Kurada, CEO, Cube Green Energy. “With a mandate to invest in more efficient and emerging technologies and sector expertise across the project cycle, Cube Green Energy and I Squared Capital are well placed to enable the Renewables 2.0 transition in Continental Europe and beyond.”
About I Squared Capital
I Squared Capital is an independent global infrastructure investment manager with over $30 billion in assets under management focusing on energy, utilities, digital infrastructure, transport and social infrastructure in North America, Europe, Latin America and Asia. The firm has offices in Miami, Hong Kong, London, New Delhi, and Singapore.
Andreas Moon
Managing Director and Head of Investor Relations
I Squared Capital
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LONDON--(BUSINESS WIRE)--EO Charging (“EO”), a leading provider of technology-enabled turnkey solutions for electric vehicle (“EV”) fleets, has unveiled its fleet EV charging ecosystem, the most complete charging infrastructure offering available for car, van, truck and bus fleets.
From design to deployment, EO’s fleet solution includes everything a business or government needs to electrify vehicle fleets at scale and at pace. EO’s turnkey charging solution is specifically designed to accelerate the electrification of any return-to-depot or return-to-home fleet across Europe, U.S. and globally at any stage of fleet electrification.
EO’s end-to-end ecosystem for charging Car, Van, Truck or Bus Fleets includes:
Electric vehicle charging software, EO Cloud, sits at the heart of EO’s fleet charging platform
“For years enterprise tech businesses have successfully used a range of applications, programming languages, hardware and platforms to enable scalability and interoperability. We’re now introducing this level of scalability and flexibility to the world of EV charging with a ‘full-stack’ ecosystem that provides fleet managers with the software and hardware to bring multiple datapoints together in one seamless view. With EO’s turnkey solution, fleet managers and operators will have a one-stop shop for planning through implementation of the electrification of their vehicle fleets,” said Charlie Jardine, Founder & CEO at EO Charging.
“A primary focus is to ensure the EO Cloud offers fleet managers the right software-based tools and single viewpoint to manage electric vehicles anywhere in the world. We’re working to integrate the world’s best charging hardware, third-party management systems and data management to facilitate this,” Jardine explained.
Balancing flexibility with reliability, EO Cloud is the ideal plug-in partner for today’s fleet managers, whether organizations are building new charging infrastructure or looking to integrate an existing EV charging network onto a more reliable and scalable platform. With a more streamlined, single platform view of fleet data, EO Cloud gives fleet managers more control and insight into their fleet’s performance.
EO Cloud’s open approach provides first-class analytics and valuable vehicle assessments to inform better decisions when managing your fleet – whether you are optimizing energy consumption costs, prioritizing charging scheduling or managing routes.
In addition to the EO Cloud software component, EO also builds industry-leading AC hardware. EO is leading the way by designing and manufacturing next generation OCPP compliant hardware designed for return-to-depot and return to-home fleets.
EV Fleets benefit from 24/7, 365 days-a-year operations & maintenance service
To ensure global electric vehicle fleets remain fully operational, EO’s charging platform provides 24/7/365 support and maintenance. EO Cloud enables the business’ dedicated support team to deploy an engineer to any depot within an agreed Service Level Agreement (SLA) timeframe.
EO recently executed an operations and management program covering several thousand AC chargers at more than 50 sites across six countries for one of its clients. As part of the charging program, EO resolved any Europe-wide on-site or remote issue in an average time of under three hours.
EO’s EV fleet charging services are already used by some of the world’s leading corporations in the U.K. and Europe including Amazon, DHL, Go-Ahead, Tesco, and Uber.
About EO
EO is a leading technology solutions provider to electric vehicle (“EV”) fleets. EO designs and manufactures EV charging stations and hardware-agnostic cloud-based charge-point management software for fleets at its headquarters in the UK. EO also provides installation services and ongoing operations and maintenance services across its fleet customer base.
Founded in 2014, EO’s technology is used by a number of the world’s largest businesses and fleet operators, and it now distributes to over 35 countries around the world. It aims to become the global leader in charging electric van, truck, bus and car fleets.
EO was ranked number 27 on the Financial Times’ FT1000 list of Europe’s fastest-growing companies. EO previously announced an agreement for a business combination with First Reserve Sustainable Growth Corp. (NASDAQ: FRSG), which is expected to result in EO becoming a public company listed on the NASDAQ exchange.
To learn more, please visit www.EOcharging.com and follow us @EOCharging on Twitter and LinkedIn.
Forward Looking Statements
The information in this press release includes "forward-looking statements". All statements, other than statements of present or historical fact included in this press release, regarding the proposed business combination between First Reserve Sustainable Growth Corp. (“FRSG”), Juuce Limited (the “Company”) and EO Charging (“EO”), each of such parties’ ability to consummate the transaction, the benefits of the transaction and the combined company's future financial performance, as well as the combined company's strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, FRSG, the Company and EO disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. FRSG, the Company and EO caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of any of FRSG, the Company or EO. In addition, FRSG, the Company and EO caution you that the forward-looking statements contained in this press release are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay the business combination or give rise to the termination of the Business Combination Agreement and Plan of Reorganization, dated as of August 12, 2021, by and among FRSG, FRSG Merger Sub Inc., EO and the Company, and the other agreements related to the business combination (including catastrophic events, acts of terrorism, the outbreak of war, COVID-19 and other public health events), as well as management’s response to any of the foregoing; (ii) the outcome of any legal proceedings that may be instituted against FRSG, the Company, EO, their affiliates or their respective directors and officers following announcement of the transactions; (iii) the inability to complete the business combination due to the failure to obtain approval of the stockholders of FRSG, regulatory approvals, or other conditions to closing in the transaction agreement; (iv) the risk that the proposed business combination disrupts FRSG's or the Company's current plans and operations as a result of the announcement of the transactions; (v) the Company's and EO’s ability to realize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the pace and depth of EV adoption generally, and the ability of the Company to accurately estimate supply and demand for its EV charging products and services, and to grow and manage growth profitably following the business combination; (vi) risks relating to the uncertainty of the projected financial information with respect to the Company, including the conversion of pre-orders into binding orders; (vii) costs related to the business combination; (viii) changes in applicable laws or regulations, governmental incentives and fuel and energy prices; (ix) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (x) the amount of redemption requests by FRSG’s public stockholders; and (xi) such other factors affecting FRSG that are detailed from time to time in FRSG’s filings with the Securities and Exchange Commission (the "SEC"). Should one or more of the risks or uncertainties described in this press release, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in FRSG's final prospectus for its initial public offering, which was filed with the SEC on March 5, 2021, and its periodic filings with the SEC, including its Quarterly Report on Form 10-Q for quarterly period ended June 30, 2021. FRSG's SEC filings are available publicly on the SEC's website at www.sec.gov.
Important Information for Investors and Stockholders
In connection with the proposed business combination, a registration statement on Form F-4 that includes a preliminary proxy statement/prospectus has been filed by EO with the SEC. After the registration statement is declared effective, the definitive proxy statement will be distributed to FRSG’s stockholders in connection with FRSG’s solicitation for proxies for the vote by FRSG’s stockholders in connection with the proposed business combination and other matters as described in the Form F-4, as well as a definitive prospectus of EO relating to the offer of the securities to be issued in connection with the completion of the business combination. Copies of the Form F-4 may be obtained free of charge at the SEC's website at www.sec.gov. FRSG’s stockholders are urged to read the preliminary proxy statement/prospectus and the other relevant materials (including, when available, the definitive proxy statement/prospectus) when they become available before making any voting decision with respect to the proposed business combination because they will contain important information about the business combination and the parties to the business combination. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.
No Offer or Solicitation
This communication is not a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of FRSG, EO or Juuce, nor shall there be any sale of any such 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 such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, as amended, or exemptions therefrom.
Participants in the Solicitation
FRSG, the Company and EO and their respective directors and officers may be deemed participants in the solicitation of proxies of FRSG's stockholders in connection with the proposed business combination. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of FRSG's executive officers and directors in the solicitation by reading FRSG's final prospectus for its initial public offering, which was filed with the SEC on March 5, 2021, and the proxy statement/prospectus and other relevant materials filed with the SEC in connection with the business combination when they become available. Information concerning the interests of FRSG's, the Company’s and EO’s participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the proxy statement/prospectus relating to the business combination when it becomes available.
EO Contacts
For Investors:
ICR, Inc.
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For Media:
ICR, Inc.
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Leading Automotive Digital Retail Software Demonstrates Its Versatility
IRVINE, Calif.--(BUSINESS WIRE)--Digital Motors, the award-winning digital retailing platform for the automotive industry, has proven the unique configurability of its product by providing an online retailing solution for the nation’s more than 4,000 recreational boat and yacht retailers.
Since Digital Motors’ launch, the platform has established itself as a highly versatile online sales solution for North America’s auto industry, able to serve the digital sales needs of dealerships, manufacturers, lenders, and marketplaces. Digital Motors enables a modern retailing experience that combines the best of both worlds – the physical showroom coupled with a robust digital process. The company is now taking these capabilities to the $42 billion recreational boating industry.
“Rather than simply window-shop online, consumers want to transact,” exclaimed Andreas Hinrichs, Chief Executive Officer of Digital Motors. “This applies to vehicles, boats, and virtually any luxury or premium item. We are excited about this latest release and our voyage into the uncharted waters of online boat purchases.”
Potential boat buyers can search for the vessel that interests them on the store’s website, then complete easy-to-follow steps, including defining the payment structure, submitting a credit application, and uploading documentation. The platform’s revolutionary FinTech engine enables a true online transaction, easily and accurately, for what was previously considered a complex purchase.
About Digital Motors
Digital Motors Corporation is an automotive retail and financial technology (FinTech) platform that provides complete online sales solutions throughout the United States and Canada. Based in Irvine, Calif., the company’s revolutionary technology serves the growing needs of dealerships, dealer groups, auto lenders, and vehicle manufacturers to provide a secure end-to-end online purchasing and financing journey to their customers. For more information or to request a demo, visit digitalmotors.com.
Mike Geylin
+1 (201) 341-1099
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~Iconic Custom Boat Builder with Loyal Customer Base~
~Will Leverage Infrastructure for Strategic Growth~
~Acquisition Expected to be Accretive in First Full Year~
CLEARWATER, Fla.--(BUSINESS WIRE)--MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat and yacht retailer, announced today that it has entered into a definitive agreement to acquire Intrepid Powerboats (Intrepid), a premier manufacturer of powerboats. MarineMax expects the acquisition to close before December 31, 2021, and to be accretive in its first full twelve-month period.
Intrepid Powerboats is recognized as a world class producer of customized boats, carefully reflecting the unique desires of each individual owner. Based in Largo, Florida, Intrepid follows a direct-to-consumer distribution model and produced revenue in excess of $60 million in the last twelve months. Intrepid has received many awards and accolades for its innovations and high-quality craftsmanship that create industry leading products in their categories.
W. Brett McGill, Chief Executive Officer and President of MarineMax, stated, “The strategic acquisition of Intrepid Powerboats allows us to provide Intrepid with additional resources to expand and to enhance how it serves their extremely loyal customer base. We believe we can help grow the Intrepid brand by leveraging our digital technologies, capital and other resources. This accretive acquisition aligns with our long-term strategy of adding quality businesses to our portfolio and implementing best practices to support the expansion of our gross margins.”
Mr. McGill continued, “We welcome the seasoned, passionate and successful Intrepid team. We know Ken Clinton and his leadership team well, given their successes within our industry. The Intrepid management team is recognized among the best in our industry and we are excited to have them join our team while continuing to lead the operations of Intrepid.”
Ken Clinton, President of Intrepid Powerboats, commented, “We are excited to join the MarineMax family and to have access to their vast resources. Those resources will help us continue to lead the industry in innovation and bringing new product to market. This opportunity also allows our Vice President of Sales, Alex Rizo, to have access to better tools to help enhance the sales experience for our Dania sales headquarters. We will now also have a national service model for our Vice President of Customer Service, Joe Brenna, in order to ensure all of our customers continue to have first class customer service. The merger allows Intrepid to take all aspects of the business to the next level, and that’s what we have always been about and why I am excited about the future with MarineMax.”
David Gillikin, Chairman of Intrepid Powerboats and majority shareholder, stated, “I am very passionate about Intrepid Powerboats, the Intrepid team and our customers. There is no organization better suited to help guide Intrepid for the future than MarineMax. I look forward to many more years as a loyal Intrepid boat owner while watching the company and team grow.”
About MarineMax
MarineMax is the world’s largest recreational boat and yacht retailer, selling new and used recreational boats, yachts and related marine products and services, as well as providing yacht brokerage and charter services. MarineMax has over 100 locations worldwide, including 77 retail dealership locations, which includes 31 marinas or storage operations. Through Fraser Yachts and Northrop and Johnson, the Company also is the largest super-yacht services provider, operating locations across the globe. Cruisers Yachts, a MarineMax company, manufacturers boats and yachts with sales through our select retail dealership locations and through independent dealers. MarineMax provides finance and insurance services through wholly owned subsidiaries and operates MarineMax Vacations in Tortola, British Virgin Islands. The Company also operates Boatyard, a pioneering digital platform that enhances the boating experience. MarineMax is a New York Stock Exchange-listed company (NYSE: HZO). For more information, please visit www.marinemax.com.
Forward Looking Statement
Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include the timing for the transaction's closing (if at all), the transaction being accretive and the related timing, the potential expansion and enhancement of Intrepid's business, the alignment of the acquisition with the Company's long-term strategy, the Company's implementation of best practices to support the expansion of gross margins, the strategic benefits of this transaction to the Company and to Intrepid, and the expected benefits of the Company's infrastructure. These statements are based on current expectations, forecasts, risks, uncertainties and assumptions that may cause actual results to differ materially from expectations as of the date of this release. These risks, assumptions and uncertainties include the Company’s abilities to reduce inventory, manage expenses and accomplish its goals and strategies, the quality of the new product offerings from the Company’s manufacturing partners, the impacts (direct and indirect) of COVID-19 on the Company’s business, the Company’s employees, the Company’s manufacturing partners, and the overall economy, general economic conditions, as well as those within our industry, the level of consumer spending, the Company’s ability to integrate acquisitions into existing operations, and numerous other factors identified in the Company’s Form 10-K for the fiscal year ended September 30, 2020 and other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Michael H. McLamb
Chief Financial Officer
Media:
Abbey Heimensen
Public Relations
MarineMax, Inc.
727-531-1700
Investors:
Brad Cohen
ICR, LLC
203-682-8211
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Dawn Francfort
646-677-1859
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MIDLAND, Texas--(BUSINESS WIRE)--ProPetro Holding Corp. (“ProPetro”) (NYSE: PUMP) today announced that it will issue its third quarter of 2021 earnings release on Tuesday, November 2, 2021 after the close of trading. ProPetro will host a conference call on Wednesday, November 3, 2021 at 8:00 AM Central Time to discuss its third quarter results.
To access the conference call, U.S. callers may dial toll free 1-844-340-9046 and international callers may dial 1-412-858-5205. Please call ten minutes ahead of the scheduled start time to ensure a proper connection. The call will also be webcast on ProPetro’s website, www.propetroservices.com.
A replay of the conference call will be available for one week following the call and can be accessed toll free by dialing 1-877-344-7529 for U.S. callers, 1-855-669-9658 for Canadian callers, as well as 1-412-317-0088 for international callers. The access code for the replay is 10160844.
About ProPetro
ProPetro Holding Corp. is a Midland, Texas-based oilfield services company providing pressure pumping and other complementary services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. For more information visit www.propetroservices.com.
ProPetro Holding Corp
David Schorlemer, 432-227-0864
Chief Financial Officer
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Josh Jones, 432-276-3389
Director of Finance
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BOSTON--(BUSINESS WIRE)--#ESG--Vanguard Renewables, a U.S. leader in organics to renewable energy, today announced the appointment of Neil H. Smith as its Chief Executive Officer.
Mr. Smith is the former President and CEO of InterGen, an international energy company. Under his leadership, InterGen was transformed from a 20-person start-up company into a 700-plus person global, multi-billion dollar operating and development company specializing in the development, ownership, and operation of power generation and related energy infrastructure assets spanning six continents and more than 20 countries in both regulated and de-regulated markets. Mr. Smith played an integral role in the financing, construction, and operation of over $15 billion of development projects including more than 25 power plants and related infrastructure. Prior to becoming InterGen CEO, Mr. Smith served as the company’s first Chief Operating Officer. He has served on the Board of John Wood Group PLC and the PJM Board of Managers. Mr. Smith holds a Bachelor of Arts in political science from Emory University and an MBA from Harvard Business School.
“Combining Vanguard Renewables’ pole position as the leading developer and operator of projects which convert organic waste into renewable natural gas with Neil’s proven transformational track record will be a powerful combination for years to come. Vanguard is in the midst of an expansive growth program reminiscent of InterGen’s past as we look to invest roughly $2.5 billion in ~150 anaerobic digester projects across 30 states, generating renewable natural gas for utilities and major corporations striving to meet their renewable energy goals. At InterGen, Neil successfully implemented a much larger program across more complex geographies, and we are very happy to have his considerable management and implementation skills focused on Vanguard’s very exciting opportunity,” said George Polk, Chairman of Vanguard Renewables.
“Neil’s decision to join the Vanguard team is a validation of the importance of our vision and the success of our work until now. Through innovative partnerships with Dominion Energy, the Dairy Farmers of America, and our many partners in the Farm Powered Strategic Alliance, Vanguard has been at the forefront of the efforts of the food, agriculture, and natural gas industries to cut their methane emissions. Neil and I plan to continue to build on that foundation and act as a catalyst for the transition to a circular, sustainable, and profitable economy,” said John Hanselman, Founder and Chief Strategy Officer of Vanguard Renewables. “Neil understands the need to advance a critical path to decarbonization, and his track record of delivering on ambitious promises, fits well in the Vanguard culture.”
“When I joined InterGen, the world was on the cusp of a revolution in the development and deployment of large, complex energy projects, and I had the privilege of playing a major role in delivering that vision. Now the world is focused on a huge transition of the energy and organic waste systems to a far more sustainable, valuable model, and I am excited to be stepping into a leadership role at the company leading this transition. Vanguard is positioned at the forefront of the increasingly critical debate on the future role of traditional fossil fuels in a global economy committed to decarbonization,” said Neil H. Smith, CEO of Vanguard Renewables.
Vanguard Renewables was founded in 2014 by John Hanselman and Kevin Chase, who grew the Company’s footprint from two projects in Massachusetts to a nationwide leader in organics recycling and renewable natural gas production. The Company develops, owns, and operates farm-based anaerobic digestion facilities that produce renewable natural gas from recycled food waste and farm manure. Its manure-only division develops and operates farm-based anaerobic digesters to produce renewable natural gas for the low carbon fuel standard market.
Mr. Smith continued, “I am thrilled to be part of a team that will continue to develop renewable, low carbon solutions to growing U.S. energy needs using the significant untapped resource of America’s organic waste streams. Vanguard is well-positioned to simultaneously reduce waste and pollution and generate clean energy on an increasingly impactful scale. My long-standing experience in leading accelerated growth to successful outcomes for all stakeholders will enable me to contribute greatly to Vanguard’s future. The alignment of global climate ambitions and Vanguard’s mission make me proud to help serve the urgent needs of our society while creating value for stakeholders.”
Mr. Hanselman will be joining the Board of Vanguard Renewables and will continue to lead partnerships with major corporate, utility, and agricultural stakeholders as Chief Strategy Officer. Mr. Chase will continue to serve as Chief Development Officer.
About Vanguard Renewables
Vanguard Renewables is a national leader in the development of food and dairy waste-to-renewable energy projects. The Company, based in Wellesley, Massachusetts, is committed to advancing decarbonization by reducing greenhouse gas emissions from farms and food waste and supporting regenerative agriculture best practices on partner farms. In December 2020, Vanguard launched the Farm Powered Strategic Alliance alongside food industry leaders Dairy Farmers of America, Unilever, and Starbucks. The Alliance commits to developing a circular solution for food waste reduction and recycling and decarbonization of manufacturing and the supply chain. Vanguard Renewables owns and operates six anaerobic digester facilities in the northeast, is now developing or building over 100 sites nationwide, and plans to have built over 150 sites in the top U.S. markets by 2025. Vanguard’s established relationships and renewable natural gas offtake agreements with national utilities including Dominion Energy, Enbridge, ONE Gas, National Grid, and Eversource and its strategic alliance with 14,500-dairy member cooperative, Dairy Farmers of America, position the Company to significantly increase U.S. production and delivery of renewable natural gas to commercial and residential customers across the country. Vanguard received the 2020 Energy Vision Leadership Award. Vanguard’s Farm Powered anaerobic digester at Goodrich Farm in Salisbury, Vermont was recognized as the 2021 Outstanding Dairy Sustainability Award from the Innovation Center for U.S. Dairy. Please visit vanguardrenewables.com to learn more.
Vanguard Renewables Media Relations Contact
Jennifer Forbes
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781.371.4935
BURLINGTON, Ontario--(BUSINESS WIRE)--Anaergia Inc. (“Anaergia” or the “Company”) (TSX: ANRG) in the course of its normal business activities is in talks with a number of different parties, regarding potential projects in a number of different countries around the world.
Among the prospective opportunities that might lead to contracts for Anaergia, is one reported in an article on a Michigan news site, MLive, entitled, “Kent County identifies main tenant for landfill diversion business park.” In this recent article, it is disclosed that the Kent County (Michigan) Board of Public Works will consider starting negotiations with Anaergia, and a potential partner, regarding a landfill waste diversion project. Management of Anaergia confirms that this project is one of the opportunities it is currently exploring, but as is the case with the other potential opportunities, there is no assurance that the discussions will lead to an agreement or project for the Company.
About Anaergia
Anaergia was created to eliminate a major source of greenhouse gases (“GHGs”) by cost effectively turning organic waste into renewable natural gas (“RNG”), fertilizer and water, using proprietary technologies. With a proven track record from delivering world leading projects on four continents, Anaergia is uniquely positioned to provide end-to-end solutions for extracting organics from waste, implementing high efficiency anaerobic digestion, upgrading biogas, producing fertilizer and cleaning water. Our customers are in the Municipal Solid Waste, Municipal Wastewater, Agriculture, and Food Processing industries. In each of these markets Anaergia has built many successful plants including some of the largest in the world. Anaergia owns and operates some of the plants it builds, and it also operates plants that are owned by its customers.
Forward-Looking Statements
This news release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the Company’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Actual results could differ materially from those projected herein. Anaergia does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
For further information please see: www.anaergia.com
For media relations please contact: Melissa Bailey, Director, Marketing & Corporate Communications, This email address is being protected from spambots. You need JavaScript enabled to view it.
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Athena now supporting seven value streams for customers in ISO-New England
Advanced reporting and bidding software offerings launched for CAISO, ERCOT, and PJM wholesale energy markets
SAN FRANCISCO--(BUSINESS WIRE)--#STEM--Stem, Inc. (“Stem” or “the Company”) (NYSE: STEM), a global leader in artificial intelligence (AI)-driven energy storage services, announced today two advanced application additions to its Athena® smart energy software, enabling its project developer customers to generate more revenue in wholesale energy markets for both front of meter (FTM) and behind the meter (BTM) storage projects. Included in the enhanced offering is Athena SupervisorTM, which provides real-time visibility into how Athena manages and monetizes energy assets, and Athena BidderTM, Stem’s proprietary market operations engine that automates asset strategies to maximize wholesale market revenues.
Stem Highlights Three Recent Milestones with Athena® in ISO-NE
Important milestones achieved by Stem during three recent customer projects in Independent System Operator New England (ISO-NE) include:
Across these projects, Stem is enabling its project developer customers to co-optimize seven value streams: day-ahead markets, real-time energy markets, frequency regulation, capacity market, coincident peak reduction, solar shifting incentives, and solar ITC earnings.
With Stem’s extended project developer support services and Athena’s ability to deliver multiple value streams, Stem has grown rapidly in the ISO-NE market since it expanded market participation activities for FTM storage in 2020. As of mid-2021, Stem’s Athena-controlled systems comprised 52% of Massachusetts and 19% of ISO-NE’s operational continuous storage facilities active in the wholesale energy, ancillary services, and forward capacity markets. Athena continues to deliver an average of up to 30% internal rate of return (IRR) for its users.
Stem Expands Value in FTM Wholesale Energy Markets with Offerings for CAISO, ERCOT and PJM
Stem’s Athena is used by project developers and asset owners to optimize power generation and market participation revenues of both standalone energy storage and hybrid solar plus storage power plants. Athena supports merchant projects capturing nodal pricing swings. Now, the recent updates to Athena Bidder provide enhanced capabilities for customers to meet resource adequacy requirements, optimize wholesale market revenue, and participate in wholesale energy markets such as California Independent System Operator (CAISO), Electric Reliability Council of Texas (ERCOT), and Pennsylvania, New Jersey, and Maryland (PJM). This enhances customers’ IRR by maximizing revenues through optimized bidding strategies, automated program management, and systematized compliance, while enhancing the storage lifecycle value. Additionally, Athena is uniquely capable of providing short-term forecasts for day-ahead and real-time bidding, as well as leveraging long-term market price projections to model FTM systems for financing and bankability.
“As a global leader in AI-driven energy storage, Stem continues to develop and enhance Athena’s smart energy storage capabilities to secure further market value for new and existing customers and diversify our geographic footprint into new markets,” said John Carrington, Chief Executive Officer at Stem. “These enhancements to Athena’s applications for wholesale energy market participation extend the value and benefits offered to our partners. With our unparalleled service, we help them navigate complicated programs and incentives and generate the best return on their investments.”
Cautionary Statement Regarding Forward-Looking Statements
This press release, as well as other statements we make, contain “forward-looking statements” within the meaning of the federal securities laws, which include any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “predict,” “plan,” “potential,” “projected,” “projections,” “forecast,” “estimate,” “intend,” “anticipate,” “ambition,” “goal,” “target,” “think,” “should,” “could,” “would,” “will,” “hope,” “see,” “likely,” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as the opportunity for business growth in ISO-NE; the expected benefits of customer projects in ISO-NE; and expected benefits to businesses, utilities and energy customers in ISO-NE. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon assumptions and estimates that, while considered reasonable by Stem and its management, depend upon inherently uncertain factors and risks that may cause actual results to differ materially from current expectations, including our inability to achieve business growth in ISO-NE; risks relating to the development and performance of our energy storage systems and software-enabled services; the risk that the global commitment to decarbonization may not materialize as we predict, or even if it does, that we might not be able to benefit therefrom; our inability to retain or upgrade current customers, further penetrate existing markets or expand into new markets; our inability to secure sufficient inventory from our suppliers to meet customer demand, and provide us with contracted quantities of equipment; supply chain failures or interruptions; manufacturing or delivery delays; disruptions in sales, production, service or other business activities; our inability to help reduce GHG emissions; our inability to seamlessly integrate and optimize energy resources; the risk that our business, financial condition and results of operations may be adversely affected by other political, economic, business and competitive factors; the effects of competition; and other risks and uncertainties set forth in the section entitled “Risk Factors” in the registration statement on Form S-1 filed with the SEC on July 19, 2021, and our most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should our underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. Statements in this press release are made as of the date hereof, and Stem disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
About Stem, Inc.
Stem (NYSE: STEM) provides solutions that address the challenges of today’s dynamic energy market. By combining advanced energy storage solutions with Athena®, a world-class AI-powered analytics platform, Stem enables customers and partners to optimize energy use by automatically switching between battery power, onsite generation and grid power. Stem’s solutions help enterprise customers benefit from a clean, adaptive energy infrastructure and achieve a wide variety of goals, including expense reduction, resilience, sustainability, environmental and corporate responsibility and innovation. Stem also offers full support for solar partners interested in adding storage to standalone, community or commercial solar projects – both behind and in front of the meter. For more information, visit www.stem.com.
Stem Investor Contacts
Ted Durbin, Stem
Marc Silverberg, ICR
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Stem Media Contacts
Cory Ziskind, ICR
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Will Operate as Fosler Solar, a Babcock & Wilcox Company
AKRON, Ohio--(BUSINESS WIRE)--$BW #renewableenergy--Babcock & Wilcox Enterprises, Inc. ("B&W" or the "Company") (NYSE: BW) announced today that it has completed its acquisition of a majority interest in Illinois-based solar energy contractor Fosler Construction Company Inc. Fosler will be part of the B&W Renewable segment and operate under the name Fosler Solar, a Babcock & Wilcox company.
“We are pleased to welcome the talented Fosler team to B&W,” said Kenneth Young, B&W Chairman and Chief Executive Officer. “We’re particularly excited about the key role Fosler Solar will play in the growth of B&W’s renewable energy business and the substantial opportunities we see in the market for solar installation and construction services in the U.S. Fosler Solar is one of the fastest-growing solar services firms in the country, and we intend to fully support and help accelerate that growth.”
Paul Fosler will continue to lead Fosler Solar as its Chief Executive Officer and remains a minority stakeholder in the business.
Founded in 1998 and employing approximately 120 people, Fosler Solar provides commercial, industrial and utility-scale solar services and owns two community solar projects currently under development in Illinois.
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on LinkedIn and learn more at www.babcock.com.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to its acquisition of a majority interest in Fosler Construction Company Inc. and the expected growth of the U.S. solar market, and the benefits expected to be achieved. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties, including, among other things, the impact of COVID-19 on the Company; the reaction of customers, suppliers and stockholders to the announcement or consummation of the acquisition; risks that the acquisition disrupts current plans and operations of the parties to the transaction; the amount of the costs, fees, expenses and charges related to the acquisition; the capital markets and global economic climate generally; and the other factors specified and set forth under "Risk Factors" in the Company’s periodic reports filed with the Securities and Exchange Commission, including the Company’s most recent annual report on Form 10-K and its quarterly reports on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. These forward-looking statements are made based upon detailed assumptions and reflect management’s current expectations and beliefs. While the Company believes that these assumptions underlying the forward-looking statements are reasonable, the Company cautions that it is very difficult to predict the impact of known factors, and it is impossible for the Company to anticipate all factors that could affect actual results. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
Investor Contact:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox
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Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
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TAMPA, Fla.--(BUSINESS WIRE)--Odyssey Marine Exploration, Inc. (NASDAQ:OMEX), a global subsea mineral exploration and development company, announced today that it entered into an agreement with Monaco Financial, LLC and other parties (Parties) on October 4, 2021, that significantly reduces Odyssey’s indebtedness and improves its overall capital structure.
Under the terms of the agreement, Odyssey will issue the Parties 984,848 shares of common stock at $6.60 per share and pay $500,000 in cash, in exchange for the cancellation of approximately US $14.5 million in principal and accrued interest outstanding under various notes, including the Parties’ right to convert the indebtedness into Odyssey’s Oceanica equity. As additional consideration, Odyssey relinquished its right to receive a percentage of the proceeds the Parties may receive from certain shipwreck projects and agreed to pay an additional $2.5 million to the Parties by December 1, 2021. The Parties have the option to convert this $2.5 million into shares of Odyssey’s common stock. It is important to note that Odyssey expects to receive proceeds from a separate legacy shipwreck project within the next 60 days that we believe will be more than sufficient to cover the additional obligation.
“This is a watershed moment for Odyssey Marine Exploration as we close an important chapter in our history—the legacy shipwreck exploration business,” stated Mark D. Gordon, Odyssey’s Chairman and Chief Executive Officer. “We have benefitted greatly from the vast knowledge and experience gained during our nearly 30 years of pioneering deep-ocean exploration work including shipwreck and mineral projects thousands of meters deep. This expertise provided the platform for us to become a world leader in subsea mineral exploration, validation and development.”
“This agreement is a major step towards strengthening our balance sheet and improving liquidity,” noted Christopher E. Jones, Odyssey’s Chief Financial Officer. “This will be a continued focus as we evaluate strategic investments and industry partnerships intended to position Odyssey for financial success in our subsea mineral exploration business,” Jones continued.
Odyssey’s focus remains on increasing the value of its diversified mineral portfolio through the development of new projects, acquiring additional equity in current projects and by de-risking projects as they move through operational stages on the value curve.
Odyssey’s current priorities include:
About Odyssey Marine Exploration
Odyssey Marine Exploration, Inc. (Nasdaq:OMEX) is a deep-ocean exploration pioneer engaged in the discovery, validation, and development of subsea minerals deposits in a socially and environmentally responsible manner. Odyssey’s growing project portfolio includes different mineral sets in various jurisdictions around the world. The company’s mission is to drive superior economic returns by providing critical mineral resources in a manner that has a net positive impact on the global environment. Odyssey also provides marine services for private clients and governments. For additional details, please visit www.odysseymarine.com.
Forward Looking Information
Odyssey Marine Exploration believes the information set forth in this Press Release may include "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Certain factors that could cause results to differ materially from those projected in the forward-looking statements are set forth in "Risk Factors" in Part I, Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2020, which was filed with the Securities and Exchange Commission on March 31, 2021. The financial and operating projections as well as estimates of mining assets are based solely on the assumptions developed by Odyssey that it believes are reasonable based upon information available to Odyssey as of the date of this release. All projections and estimates are subject to material uncertainties and should not be viewed as a prediction or an assurance of actual future performance. The validity and accuracy of Odyssey's projections will depend upon unpredictable future events, many of which are beyond Odyssey's control and, accordingly, no assurance can be given that Odyssey's assumptions will prove true or that its projected results will be achieved.
Cautionary Note to U.S. Investors
The U.S. Securities and Exchange Commission (SEC) permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this press release, such as "measured", "indicated," "inferred" and "resources," which the SEC guidelines strictly prohibit us from including in our filings with the SEC. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. U.S. investors are cautioned not to assume that part or all of the inferred mineral resource exists, or is economically or legally mineable, and are urged to consider closely the disclosures in our Form 10-K which may be secured from us or from the SEC's website at http://www.sec.gov/edgar.shtml.
Laura Barton
Odyssey Marine Exploration, Inc.
(813) 876-1776 x 2562
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DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc.’s (NYSE: ALE) board of directors has elected Charlene A. Thomas, chief diversity, equity and inclusion officer for United Parcel Service Inc. (NYSE: UPS), to serve on the board effective Oct. 4, 2021.
During her 30 years at UPS, Thomas has held multiple leadership roles in human resources, operations and strategic planning for the Fortune 500 global transportation and logistics company. Before being named chief diversity, equity and inclusion officer in early 2021, Thomas served as chief human resources officer and led innovative initiatives to optimize the talent, leadership and culture for the company’s more than 540,000 employees worldwide. She also served as president of UPS’s west region with responsibility for product growth and delivery operations in 25 U.S. central and western states. Thomas is a member of UPS’s Executive Leadership Team.
“We are very pleased to welcome Charlene to the board,” said ALLETE Chair, President and CEO Bethany Owen. “Charlene’s extensive leadership experience in a wide variety of areas at UPS will be a tremendous asset as ALLETE advances our sustainability in action strategy to transform the nation’s energy landscape, serve our customers with excellence, support our communities in fostering a more equitable society, provide opportunities for our employees, and create value for our shareholders.”
Thomas holds a bachelor of arts degree in psychology from Temple University and a master’s in business administration from Eastern University. She is a member of the Executive Leadership Council, serves on the board of directors for the National Urban League and has served on the boards of many nonprofits, including the Orangewood Foundation, Big Brothers Big Sisters and several local United Way chapters.
“Charlene’s record of proven leadership, her commitment to principled and values-based governance, and her broad and deep business and human resources experience make her a good fit with the ALLETE board of directors,” said Heidi Jimmerson, lead director. “We look forward to hearing her perspectives on a wide range of topics, including meeting evolving customer needs in an era of transformative challenges and ALLETE’s ESG policies and initiatives.”
ALLETE Inc. (NYSE: ALE) is an energy company headquartered in Duluth, Minnesota. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth; and BNI Energy in Bismarck, North Dakota; and has an 8 percent equity interest in the American Transmission Co. More information about ALLETE is available at www.allete.com. ALE-CORP
The statements contained in this release and statements that ALLETE may make orally in connection with this release that are not historical facts, are forward-looking statements. These forward-looking statements involve risks and uncertainties and investors are directed to the risks discussed in documents filed by ALLETE with the Securities and Exchange Commission.
Investor Contact:
Vince Meyer
218-355-3276
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Third Quarter ADV up 18% y/y; OI up 9% y/y
ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today reported September and third quarter 2021 trading volume and related revenue statistics, which can be viewed on the company’s investor relations website at https://ir.theice.com/ir-resources/supplemental-information in the Monthly Statistics Tracking spreadsheet.
“We’ve seen elevated market activity across numerous asset classes in the third quarter as our customers manage their exposure to concerns including inflation driving interest rate changes, and rising gas and carbon prices in energy markets,” said Ben Jackson, President of Intercontinental Exchange. “ICE’s global exchanges were built to connect market participants and provide price transparency to allow them to manage their risk efficiently and with greater certainty.”
September highlights include:
Third quarter highlights include:
Updated Guidance:
(1) Non-GAAP operating expenses exclude amortization of acquisition-related intangibles and transaction-related costs.
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.
SOURCE: Intercontinental Exchange
ICE-CORP
ICE Investor Relations Contact:
Mary Caroline O’Neal
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+1 770 738 2151
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ICE Media Contact:
Josh King
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+1 212 656 2490
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Longtime Customer LatConnect 60 in Partnership with Curtin University Awarded Australian Research Council (ARC) Federal Grant
VIENNA, Va.--(BUSINESS WIRE)--Spire Global, Inc. (NYSE: SPIR) (“Spire” or “the Company”), a leading global provider of space-based data, analytics, and space services announced today that LatConnect 60, an Australian-based satellite data and insights provider, has extended their subscription to Spire’s Automatic Identification System (AIS) vessel tracking data. LatConnect 60 and Curtin University, Western Australia’s largest university, have recently been awarded a federal grant from the Australian Research Council (ARC) to conduct research on maritime collision avoidance in shipping lanes.
LatConnect 60 and Curtin University’s Intelligent Sensing & Perception Laboratory, led by Professor Ba-Ngu Vo, are creating sensor fusion algorithms to help solve this industry-wide issue, using data from satellite sensors, primarily Spire’s maritime domain awareness information. Incorporating this intelligence into maritime traffic monitoring systems is expected to result in more effective collision and contact avoidance strategies and contribute to more accurate predictions of traffic patterns for ship owners and insurers.
LatConnect 60 will use Spire's space-based data as a foundation on which to layer other data sources like satellite imagery, drones, and IoT sensors, to get near real time appraisal of movements in specific areas of interest. Regular and timely AIS data like Spire’s is a critical piece of this solution to support the accuracy and reliability of collision, contact, and traffic prediction algorithms, decreasing the risk of collisions in narrow shipping lanes, and in turn lowering insurance premiums for operators that adopt the solution.
“LatConnect 60 is a valuable and long standing Spire customer. We’re thrilled to expand our relationship with them to help power the important research at Curtin University,” said Mark Dembitz, APAC Sales Director of Maritime Solutions. “Partnerships between government, academia, and industry can tackle tough challenges. With this initiative, we will work to lower the risk of maritime collisions to make Australia, and the world, a safer place.”
“Spire’s advanced AIS data has provided significant value to us and we’re thrilled to build on our partnership to enhance our capabilities,” said LatConnect 60 CEO, Venkat Pillay. “Incorporating Spire’s proprietary data into our research work with Curtin University will allow unprecedented insight into the real-time location of vessels, helping avoid collisions and create a safer and more profitable maritime industry.”
About Spire Global, Inc.
Spire is a leading global provider of space-based data, analytics, and space services, offering access to unique datasets and powerful insights about Earth from the ultimate vantage point so that organizations can make decisions with confidence, accuracy, and speed. Spire uses one of the world’s largest multi-purpose satellite constellations to source hard to acquire, valuable data and enriches it with predictive solutions. Spire then provides this data as a subscription to organizations around the world so they can improve business operations, decrease their environmental footprint, deploy resources for growth and competitive advantage, and mitigate risk. Spire gives commercial and government organizations the competitive advantage they seek to innovate and solve some of the world’s toughest problems with insights from space. Spire has offices in San Francisco, Boulder, Washington DC, Glasgow, Luxembourg, and Singapore. To learn more, visit http://www.spire.com.
About LatConnect 60
LatConnect 60 is an Australian company founded in Perth, Western Australia that provides vital insights for our world. LatConnect 60 is planning to launch its own Low Earth Orbit (LEO) smart satellite constellation in 2022 which is expected to have a global service reach.
LatConnect 60 serves government and commercial clients by providing greater control, exclusivity and flexibility of critical EO data products and analytics services, in an affordable and accessible manner. It has developed significant patented IP in this domain and is working with leading Australian research and development institutions to deploy its innovative LEO analytics capabilities both on-orbit and in the field.
For Spire Global, Inc.:
Janine Kromhout
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(650) 269-1417
ROCKVILLE, Md.--(BUSINESS WIRE)--#AmericanJobs--By adding additional rooftop solar arrays, the California Institute of Technology (Caltech) is maximizing its energy production at times when electricity is the most expensive to purchase from the grid. Standard Solar, Inc., a national solar energy leader, is funding and will own and operate the portfolio of solar systems. The project was developed in partnership with EMCOR Services Mesa Energy.
Eight more of Caltech’s campus building rooftops are now host to a combined 800 kilowatts of solar energy. The buildings include Bechtel Residence, Bridge, Downs Luritsen, Hameetman, Keith Spalding, Parsons Gates, South Mud and Synchrotron.
“This project represents the culmination of a decade-long vision to build out rooftop solar across the Caltech campus,” said Maximilian Christman, Caltech sustainability manager. “Our campus in Pasadena now hosts 2 megawatts of onsite solar capacity, furthering our efforts towards carbon reduction and eventually carbon neutrality.”
The system is projected to generate approximately 1,328 megawatt-hours (MWh) in the first year of operation and reduce annual carbon offset by an estimated 114,481,584 smartphones charged.
“What better way to strengthen our asset portfolio in California than through providing the funds needed to help one of its leading educational institutions reduce its dependence on nonrenewable energy sources,” said Shaun Laughlin, Head of U.S. Strategic Development, Standard Solar. “Caltech is setting a standard to which other centers of learning and organizations should emulate.”
Construction on all eight projects is complete – seven are operating, with one waiting for final permission to operate from the utility.
“EMCOR Services Mesa Energy was happy to help support Caltech’s sustainability goals by partnering with Standard Solar to design, engineer and construct this innovative solar project,” said Robert Lake, President, EMCOR Services Mesa Energy. “Our relationship with Caltech has spanned over 10 years, contributing to numerous energy-saving programs, with this project reflecting the most recent, significant energy initiative on the campus. We applaud Caltech’s vision in working to achieve a cleaner environment for all.”
EMCOR Services Mesa Energy is a leading mechanical and energy services company with operations throughout California, Arizona, and Nevada and is a subsidiary of EMCOR Group, Inc.
About Standard Solar
Standard Solar is powering the nation’s energy transformation – channeling its project development capabilities, financial strength and technical expertise to deliver the benefits of solar, as well as solar + storage, to businesses, institutions, farms, governments, communities and utilities. Building on 17 years of sustainable growth and in-house and tax equity investment capital, Standard Solar is a national leader in the development, funding and long-term ownership and operation of commercial and community solar assets. Recognized as an established financial partner with immediate, deep resources, the company owns and operates more than 225 megawatts of solar across the United States. Standard Solar is based in Rockville, Md. Learn more at standardsolar.com, LinkedIn and Twitter: @StandardSolar.
PR Contact:
Leah Wilkinson
Wilkinson + Associates
703-907-0010
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» Nouveau Monde commissions its advanced R&D facility at its premises in Saint-Michel-des-Saints
» The new laboratory will provide Nouveau Monde with the in-house capacity for testing advanced anode material and providing customized specifications to battery and EV manufacturers
» Nouveau Monde has recruited two additional leading scientists, expanding its R&D and technical team to 25 professionals – including six PhDs and 18 engineers
» Nouveau Monde formed a Scientific Advisory Committee to advance and expand its research portfolio and capabilities
» Nouveau Monde’s proprietary technologies and R&D program is a critical competitive advantage, as it furthers the qualification process of its anode material with the world’s leading end-users for lithium-ion batteries
MONTRÉAL--(BUSINESS WIRE)--$NMG #batteries--Nouveau Monde Graphite Inc. (“Nouveau Monde” or the “Company”) (NYSE: NMG, TSXV: NOU) is completing the commissioning of its state-of-the-art laboratory at its demonstration plant, an addition to the Company’s existing quality testing facilities. This expansion is triggered by Nouveau Monde’s commitment to catering to the market’s requirements for high-performing and environmentally responsible battery materials that can be tailored to a variety of specifications for electric vehicles (“EV”) and energy storage usage.
As applications diversify, technology is a critical driver in battery material engineering and manufacturing. Nouveau Monde’s dedicated new lab facilities provide in-house capacity, flexibility, and speediness in testing advanced materials and specifications for potential customers. The new lab facilities comprise ultramodern equipment covering a range of technical measurements, namely particle size, tapped density, coin cell cycling with full coin cell preparation equipment, ICP trace element analysis, BET specific surface area as well as particle morphology, coating quality and impurity analysis by SEM-EDX, in support to the Company’s phase-1 anode material production.
The Company has also recruited two leading talents, Mr. Mogalahalli V. Venkatashamy Reddy, PhD (Dr. M.V. Reddy) and Mr. Neel Rahem, to complement its strong internal technical team consisting of six Doctorate (“PhD”) recipients, three Master of Science (“MSc”) holders, and 18 engineers with previous hands-on experience with leading graphite operators including Imerys, SGL Group and BTR New Material and specialists in the fields of lithium-ion batteries (“LiB”), carbon materials, bi-polar plates, electrochemistry, and engineered advanced materials.
Arne H Frandsen, Chairman of Nouveau Monde, commented: “Today’s investment in R&D is tomorrow’s competitive advantage in the marketplace. We continue our confidential and proprietary development efforts with a view to supporting the world’s leading lithium-ion battery makers and intend to continue investing in cutting-edge technology with the support of best-in-class scientists and engineers. Nouveau Monde’s mission is to engineer graphite-based advanced solutions to power a decarbonized future.”
Nouveau Monde is actively developing advanced materials to remain at the forefront of industry trends and offer some of the highest performing and most environmentally friendly lithium-ion battery anode material portfolio on the market. Among the technological breakthroughs to date, the Company’s R&D team has designed advanced graphite-based solutions where the interaction between graphite and silicon is optimized and submitted a patent application for its proprietary green thermochemical purification technology.
Eric Desaulniers, Founder, President, and CEO of Nouveau Monde, added: “EV and battery manufacturers are seeking advanced solutions that provide the ideal combination of quality, performance, cost, weight, carbon footprint, material interaction, and countless other factors. In-house R&D capability represents an advantage in catering to our potential customers’ requirements while continuing to advance our products portfolio for the growing battery supply chain industry. At the forefront of technology advancements, Nouveau Monde is positioning itself as more than a graphite producer; we are one of the Western World’s leading advanced battery material developers striving to deliver the greenest graphite-based solutions.”
Enhanced In-House R&D Expertise
Counting over 20 years of experience in battery technology and having contributed to more than 220 scientific articles on electrode and electrolyte materials for lithium-ion batteries, which have been cited numerous times in other publications, Mr. M.V. Reddy, PhD is joining the Company as Senior Professional Researcher to advance Nouveau Monde’s product portfolio.
Reddy obtained his PhD in materials science with the highest honors from the University of Bordeaux, France (2003) and an MSc in chemistry (electrochemistry) from Bangalore University, India (1995). For the past two decades, Reddy has studied LiB materials (anodes, cathodes, supercapacitors, and solid electrolytes), fuel cells, nanotechnology, recycling and battery materials recovery, powder metallurgy and materials for CO2 sequestration, other various material characterization techniques, spectroscopy, and electroanalytical techniques, as well as additional research activities. He has worked as a Senior Researcher at Hydro-Québec’s research institute, the Centre of Excellence in Transportation Electrification and Energy Storage (“CETEES”), and at the National University of Singapore’s Department of Materials Science & Engineering, Advanced Batteries Lab and Department of Physics.
Reddy authored a landmark paper on electrode materials for lithium-ion batteries and their reaction mechanisms, received international honors, served as an editorial advisory board member for scientific publications, lectured at numerous international conferences and workshops, acted as an expert referee for various international academic battery proposals and collaborated across the energy storage industry.
To complement Nouveau Monde’s R&D team, Mr. Neel Rahem is also joining the Company as Laboratory Manager. A chemist specialized in metallurgy, process chemistry and quality programs, Rahem holds a M.Sc. in chemistry from UQAM (2010) and a Master M1 in chemistry-physics from Université de Haute-Alsace (2007). Prior to working at Nouveau Monde, Rahem looked after lab activities for Canadian Royalties, Minerai de Fer Québec, and Glencore.
In his new functions, Rahem will operationalize the Company’s new lab facilities and supervise the existing team of technicians in minerallurgy and analytical chemistry.
Eric Desaulniers, Founder, President, and CEO of Nouveau Monde, concluded: “We are delighted to welcome M.V. Reddy and Neel to the team as we advance our beneficiation operations. Their expertise will help further enhance our processes and product specs.”
Nouveau Monde has embedded innovation in its business approach through capital human investments, infrastructure and collaboration with world-class research institutes and universities to refine anode material production and develop new applications. Research partners include the Centre de transfert technologique en écologie industrielle, the Centre National en électrochimie et en Technologies Environnementales, the CETEES, the Centre technologique des résidus industriels, the National Research Council of Canada, the INRS-Énergie, Matériaux et Télécommunications, McGill University, Université de Sherbrooke, Université Laval, Hydrogen Research Institute, Université du Québec en Abitibi-Témiscamingue, and Innofibre.
About Nouveau Monde
Nouveau Monde is striving to become a key contributor to the sustainable energy revolution. The Company is working towards developing a fully integrated source of carbon-neutral battery anode material in Québec, Canada for the growing lithium-ion and fuel cell markets. With low-cost operations and enviable ESG standards, Nouveau Monde aspires to become a strategic supplier to the world’s leading battery and automobile manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability. www.NMG.com
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Cautionary Note Regarding Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release including, but not limited to those describing the drivers of the battery industry and the Company’s performance and sustainability, the new lab facilities and their functions and uses, the research portfolio’s expansion through recent hires and the creation of a scientific advisory committee, the Company’s commitments, objectives and goals relating to its performance and its green initiatives, the industry trends, the development of graphite-based advanced solutions and other applications, the growth of the battery supply chain industry, , and those statements which are discussed under the “About Nouveau Monde” paragraph and elsewhere in the press release which essentially describe the Company’s outlook and objectives, constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the current technological trends, the business relationship between the Company and its stakeholders, the ability to operate in a safe and effective manner, the timely delivery and installation of the equipment supporting the production, the Company’s business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.
Forward-looking information and statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking information and statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of the equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favourable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company’s assets and businesses, competitive factors in the graphite mining and production industry, changes in laws and regulations affecting the Company’s businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, the impacts of the global COVID-19 pandemic and the governments’ responses thereto, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further information regarding the Company is available in the SEDAR database (www.sedar.com), and for United States readers on EDGAR (www.sec.gov), and on the Company’s website at: www.NMG.com
Julie Paquet
VP Communications & ESG Strategy
+1-450-757-8905 #140
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Iteris’ Commercial Vehicle Roadside Inspection Solutions Save Law Enforcement Agencies up to 50% of Time Spent Completing Inspections
SANTA ANA, Calif.--(BUSINESS WIRE)--$ITI #CVSA--Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today announced a new and expanded contract with the New Hampshire Department of Safety, Division of State Police (NHSP) for Iteris’ commercial vehicle operations (CVO) software-as-a-service (SaaS) solutions.
Under the terms of the multi-year SaaS contract, Iteris will extend NHSP’s use of Iteris Inspect™ for an additional five years and provide its CVIEW-Plus™ data services to support the state’s goals of obtaining compliance with the Federal Motor Carrier Safety Administration’s (FMCSA) Innovative Technology Deployment (ITD) program, improving goods movement, and enhancing safety for truck drivers, law enforcement and roadside inspectors.
Iteris Inspect, powered by CVIEW-Plus data services, aggregates and automates the roadside inspection process, reducing the time to conduct commercial vehicle inspections by up to 50%. Less time roadside improves safety for both drivers and enforcement personnel. CVIEW-Plus data services further automate commercial vehicle selection processes, allowing compliant carriers to bypass weigh stations and enforcement personnel to focus on driver and carrier education aimed at reducing defects, benefitting the safety and mobility of the broader transportation network.
In addition to less time off the road for carriers and drivers, Inspect facilitates compliance with FMCSA and Commercial Vehicle Safety Alliance regulations, including electronic logging.
Iteris’ suite of CVO SaaS solutions is a key component of its ClearMobility™ Platform – the world’s most complete solution to continuously monitor, visualize and optimize mobility infrastructure. ClearMobility applies cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to help ensure roads are safe, travel is efficient, and communities thrive.
“The increased adoption of Iteris’ CVO SaaS solutions across the U.S. is testament to the growing demand among state transportation and law enforcement agencies for smart mobility infrastructure management technologies,” said Scott Perley, regional vice president, Applications and Cloud Solutions at Iteris. “We are pleased to announce this new and expanded contract for the Iteris Inspect and CVIEW-Plus SaaS solutions, which will increase goods movement and enhance safety for truck drivers, roadside inspectors and law enforcement, as well as improve mobility and safety throughout New Hampshire’s wider transportation network.”
Iteris is the largest provider of CVO solutions nationwide, with current deployments in 22 states as well as two electronic screening providers, serving more than half of the country.
About Iteris, Inc.
Iteris is the global leader in smart mobility infrastructure management – the foundation for a new era of mobility. We apply cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to achieve safe, efficient and sustainable mobility. Our end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world to help ensure that roads are safe, travel is efficient, and communities thrive. Visit www.iteris.com for more information, and join the conversation on Twitter, LinkedIn and Facebook.
Iteris Forward-Looking Statements
This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," “outlooks,” “target,” "intends," "plans," "seeks," "estimates," "may," “should,” "will," "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the awarded contract and the impacts and benefits of our products and services. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are not limited to, our ability to provide the services on a cost-effective basis; agency budgetary constraints; the impacts of general economic, political, and other conditions in the markets we address; the challenges in the development of software-based solutions generally; and the potential impacts of product and service offerings from competitors and such competitors’ patent coverage and claims. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).
Iteris Contact
David Sadeghi
Tel: (949) 270-9523
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Investor Relations
MKR Investor Relations, Inc.
Todd Kehrli
Tel: (213) 277-5550
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