HOUSTON--(BUSINESS WIRE)--Phillips 66 Partners LP (NYSE: PSXP) announces that the board of directors of its general partner declared a first-quarter 2021 cash distribution of $0.875 per common unit, or $3.50 per unit on an annualized basis. The quarterly distribution is payable May 14, 2021, to unitholders of record as of April 30, 2021.
About Phillips 66 Partners
Headquartered in Houston, Phillips 66 Partners is a growth-oriented master limited partnership formed by Phillips 66 to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum products and natural gas liquids pipelines, terminals and other midstream assets. For more information, visit www.phillips66partners.com.
TAX CONSIDERATIONS
This release is intended to be a qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that 100% of Phillips 66 Partners LP’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Phillips 66 Partners LP’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate. Nominees, and not Phillips 66 Partners LP, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors.
Jeff Dietert (investors)
832-765-2297
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Shannon Holy (investors)
832-765-2297
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Thaddeus Herrick (media)
855-841-2368
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Highview Power to deploy MAN LAES turbomachinery solution in its CRYOBattery long-duration application
LONDON & AUGSBURG, Germany--(BUSINESS WIRE)--Highview Power, a global leader in long duration energy storage solutions, has selected MAN Energy Solutions to provide its LAES turbomachinery solution to Highview Power for its CRYOBattery™ facility, a 50 MW liquid-air, energy-storage facility – with a minimum of 250MWh – located in Carrington Village, Greater Manchester (UK).
The liquid air energy storage plant uses cryogenically-liquefied air as a medium for storing energy. It is especially suitable for special applications that require large amounts of energy over a discharge time of several hours, and enables fluctuating, renewable sources to bear base-loads. The MAN turbomachinery train will form the core of the CRYOBattery facility that, upon completion, will form one of Europe’s largest battery-storage systems. This will ultimately supply clean, reliable, and cost-efficient long-duration energy storage – primarily from renewable sources.
Javier Cavada, President and CEO of Highview Power, said: “Highview Power believes in partnering with companies that share our commitment to a decarbonized world, and awarding MAN the contract to build out our Carrington facility reinforces that commitment. MAN is well-respected in the industry and has an impressive track record of building large energy assets. We are proud to be working with them on this significant project.”
Wayne Jones OBE, Chief Sales Officer and Member of the Executive Board of MAN Energy Solutions, said: “There has been a lot of background work involved in getting to this stage – in the face of much competition – and I am personally delighted that Highview Power has chosen to work with MAN Energy Solutions. Especially since Highview is a fantastic company and world leading expert in the storage industry. We could not wish for a better partner.
“The Carrington project is a massive milestone for the future of storage technology and for the United Kingdom’s goal of a 100% clean, carbon-free energy future. We are entering the market together in an absolutely unique project that will have the eyes of the world upon it. This technology’s unlimited potential means that any number of domestic and global projects await its successful conclusion.”
Jones continued: “This is also a milestone for MAN Energy Solutions’ strategic journey. Our ability in this instance to provide both energy-storage turbomachinery technology and grid stabilisation, as demanded by the process requirements, fits perfectly with our stated strategy of increasingly moving from supplying components to becoming a supplier of complete solutions. This is where our customers can fully reap the benefit of our all-round expertise.”
Construction of the CRYOBattery™ began in late 2020 with commercial operation commencing during 2022. Highview Power will operate the facility in partnership with Carlton Power, a UK independent power-station developer.
Construction will proceed in two phases. Phase 1 will involve the installation of a ‘stability island’, to provide near-instantaneous energy grid stabilisation. This will be achieved using a generator and flywheel, among other components. Enabling short-term stabilisation will provide the basis for Phase 2 and the completion of the more complex liquid air energy storage system that includes various compressors, air expanders and cryogenic equipment.
Phase 2 will represent the integration of stability services with a full-scale long-duration energy storage system, and in doing so promote the full integration of renewable energy. The Carrington project will offer a blueprint for future projects and cement the partnership between MAN Energy Solutions and Highview Power.
About Highview Power
Highview Power is a developer of CRYOBattery™ long duration energy storage systems based on the company’s cryogenic energy storage technology, which uses liquid air as the storage medium and can deliver anywhere from 20 MW/100 MWh to more than 200 MW/2 GWh of energy and has a lifespan over 30 years. Developed using proven components from mature industries, it delivers pumped-hydro capabilities without geographical constraints and can be configured to convert waste heat and cold to power that delivers reliable and cost-effective long duration energy storage to enable a 100% renewable energy future. For more information, please visit http://www.highviewpower.com.
About MAN Energy Solutions
MAN Energy Solutions enables its customers to achieve sustainable value creation in the transition towards a carbon neutral future. Addressing tomorrow’s challenges within the marine, energy and industrial sectors, we improve efficiency and performance at a systemic level. Leading the way in advanced engineering for more than 250 years, we provide a unique portfolio of technologies. Headquartered in Germany, MAN Energy Solutions employs some 14,000 people at over 120 sites globally. Our after-sales brand, MAN PrimeServ, offers a vast network of service centres to our customers all over the world.
Group Communications
Michael Mustermann
P +49 821 322 12 34
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HOUSTON--(BUSINESS WIRE)--Sunnova Energy International Inc. ("Sunnova") (NYSE: NOVA), one of the leading U.S. residential solar and storage service providers, announced today it will begin offering its services in Ohio and North Carolina. Both states will have access to Sunnova’s SunSafe® solar + battery storage service, and +SunSafe® add-on battery service, which will allow homeowners to maintain energy resiliency in the face of potential grid crises and rising electricity rates. Sunnova will also be the first national residential solar and energy storage service provider with extensive 25-year system and battery coverage to offer its services in Ohio1.
“Sunnova is proud to be first in Ohio. The state’s solar prices have fallen 45 percent in the last five years as per Solar Energy Industries Association’s data, and our goal is to enhance Ohio’s access to clean, affordable energy and help the state reach its renewable energy targets,” said Michael Grasso, Chief Marketing Officer of Sunnova. “As we expand to new markets and grow our customer base, we are also looking forward to growing our key network of dealers which means supporting more renewable energy jobs.”
Between 2015 and 2019, the amount of time Ohio residents lost power each year nearly doubled2. Sunnova’s SunSafe and +SunSafe services in Ohio and North Carolina will increase homeowners’ energy independence by allowing them to produce their own clean energy and store excess in the battery for later use. As soon as the grid is down, homeowners can simply switch to using the stored energy and run the electrical appliances of their choosing3.
“North Carolina is a key market for us; the state has set solid goals to reduce its carbon emissions by 2030 and rooftop solar is a critical part of the solution,” continued Grasso. “North Carolina is only second to Florida in the number of tropical cyclone landfalls which have caused hundreds of thousands of North Carolinians to lose power. Sunnova is not only looking to help relieve the grid stress that can arise from such extreme weather events but more importantly, we want to provide homeowners the energy reliability and resiliency they need to keep their families safe.”
According to the U.S. Energy Information Association, North Carolina and Ohio have seen their electricity rates rise by 15% and 16% respectively from 2009 to 2019. Sunnova’s services will help homeowners take control over their energy costs. By going solar with Sunnova under the Easy Own PlanTM loan, homeowners will no longer need to guess what the utility provider will be charging them next month or six months down the line, they will always know the cost of solar with Sunnova.
Customers in both states will also be covered by Sunnova Protect™, featuring worry and hassle-free maintenance, monitoring, repairs, and replacements for their solar systems and batteries4. Sunnova’s +SunSafe add-on battery service can also be added to homes that have existing solar systems, allowing the company to power energy independence and the customer to live life uninterrupted.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Sunnova’s future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates,” “going to,” "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern Sunnova’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this release include, but are not limited to, statements regarding our expansion into new markets, increase in customer base, dealers, and growth, and other statements regarding the future. Sunnova’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks regarding our ability to implement of business plan, the impact of COVID-19, our ability to successfully integrate the SunStreet Energy Group, LLC acquisition, our competition, fluctuations in the solar and home-building markets, our ability to attract and retain dealers and customers and our dealer and strategic partner relationships. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Sunnova’s filings with the Securities and Exchange Commission, including Sunnova’s annual report on Form 10-K for the year ended December 31, 2020. The forward-looking statements in this release are based on information available to Sunnova as of the date hereof, and Sunnova disclaims any obligation to update any forward-looking statements, except as required by law.
About Sunnova
Sunnova Energy International Inc. (NYSE: NOVA) is a leading residential solar and energy storage service provider with customers across the U.S. and its territories. Sunnova's goal is to be the source of clean, affordable and reliable energy with a simple mission: to power energy independence so that homeowners have the freedom to live life uninterrupted®.
1 Refer to the Limited Warranty agreement for complete warranty terms and limitations, including the specifications for energy retention over the life of the battery
2 The reliability trend is based on the comparison of the SAIDI data [“SAIDI with MED” column] from the EIA “Reliability” reports from 2015 – 2019 for all data points related to the state of OH. Annual reliability data for each market are available in zip files located at https://www.eia.gov/electricity/data/eia861
3 https://www.sunnova.com/batteryduration/
4 Refer to your Limited Warranty agreement for your complete warranty terms and limitations
Media Contact
Alina Eprimian
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Investor & Analyst Contact
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281.971.3323
Polycor aims to revolutionize the manufacturing industry with leadership on decarbonization.
QUEBEC CITY--(BUSINESS WIRE)--Polycor Inc., the largest quarrier of natural stone in the world, today announced in honor of Earth Day its plans to be carbon neutral by the end of 2025. Polycor is the first natural stone quarrier to make a firm commitment to carbon neutrality, and among the first in the manufacturing industry to take a leadership role on the essential work of decarbonization.
“As an organization, we have a history and brand focused on global leadership, with a reputation of prioritizing and fostering sustainability, innovation, and environmental stewardship,” said Patrick Perus, CEO of Polycor Inc. “Our move toward being carbon neutral by 2025 puts the company five years ahead of the curve set by the American Institute of Architects’ call to become carbon neutral by 2030. We are confident that our sustainability leadership within the natural stone industry can inspire other construction material providers to do the same.”
Polycor has a history of embracing environmental challenges, from its use of closed-system rainwater to owning 30% of all “Natural Stone Sustainability Standard” certified sites. Polycor recently announced an internal network of 15 Sustainability Champions to identify innovative solutions, from waste reduction to increasing processing efficiencies. While natural stone is already inherently sustainable and a zero-VOC material, Polycor remains committed to flattening the curve on carbon emissions.
This carbon neutral 2025 commitment demonstrates Polycor’s committed to science-based protection of the environment. The IPCC (Intergovernmental Panel on Climate Change) identifies the year 2030 as a tipping point that will require significant reduction in emissions. The building industry, which accounts for 39% of annual global GHG (greenhouse gas) emissions, bears a tremendous responsibility to mitigate global environmental risk.
Perus added, “This decision is also in line with the will of customers and partners in the industry, who are increasingly demanding environmentally friendly products and suppliers, showing a generalized awareness throughout the industry.”
According to the National Retail Federation, nearly 80% of consumers say sustainability is important to them, and more than 70% are even willing to pay more if it means their products are sustainable.
To help support its goal of being carbon neutral by 2025, Polycor will focus its efforts and improvements on the following areas:
About Polycor Inc.
Polycor Inc. is the world's leading natural stone quarrier and its core mission is to make people fall in love with natural stone. Their world-class reputation comes from a great legacy of stone work on historical landmarks, institutional, commercial and residential projects. Founded in Québec City (Canada) in 1987, the company now employs nearly 1,300 people and owns over 50 quarries and 20 manufacturing plants across North America and Europe. For more information, visit their website or follow their social media profiles on Facebook, Twitter, LinkedIn, and Instagram.
Bob Cavosi
RooneyPartners
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Increase flexibility, scalability, and acceleration with the Bounteous Accelerator for Adobe Experience Cloud
CHICAGO--(BUSINESS WIRE)--$adobe #AEM--Bounteous, a leading insights-driven digital experience consultancy, today announced the latest release of its Activate for Commerce solution. Adobe Summit attendees interested in learning more about how Activate can help you to free up time and increase results can visit with us virtually throughout the event.
Built by the award-winning Adobe practice at Bounteous, Activate packages years of best practices and successful deployments to help B2B and B2C companies quickly create a modern, efficient digital experience.
Since its launch, Bounteous’ Activate for Commerce solution has been popular with Adobe Commerce Cloud users. Activate for Commerce extends the Activate functionality to include commerce-specific features and functionality, helping companies take advantage of Magento Commerce. This newest release is based on Adobe’s Commerce Integration Framework approach using GraphQL.
This solution incorporates features and functionality specifically designed for commerce websites built on Magento and other commerce engines, enabling headless scenarios with Adobe Experience Manager at the core. Activate for Commerce makes it easy for businesses to combine the benefits from both platforms, and get to value faster, adding flexibility, scalability, and acceleration to programs.
“A commerce strategy begins with a strong framework and knowledge base of the customer’s needs,” said John N. Anthony, Bounteous SVP, Digital Strategy & Solutions. “Bounteous is excited to introduce this new solution to propel commerce initiatives for our clients. Activate for Commerce lays the foundation for any commerce solution, allowing clients to focus on growing their long-term return on investment and getting to differentiated value faster.”
Bounteous’ Activate solution is built on best practices that ensure organizations are successful. Empowering IT to easily implement upgrades, and content authors to make changes without requiring technical resources is core to the solution. Internationalization and multi-site functionality help you reach a growing global audience—without reinventing the wheel.
To learn more about Activate for Commerce, and schedule a live demo with Bounteous, visit https://www.bounteous.com/activate/demo/.
As a Platinum Regional partner in the Adobe Solution Partner Program, Bounteous holds over 100 certifications across Adobe Experience Cloud and has developed Adobe-specialized practices in the Americas region in multiple Experience Cloud applications, including Adobe Analytics, Adobe Experience Manager, Adobe Experience Manager: Run and Operate, Adobe Campaign, Adobe Campaign Standard, and Magento. Bounteous has over 12 years of rich Magento Commerce experience, highlighted by the delivery of complex commerce implementations for multinational brands. Bounteous experts are the top contributors to ACS Adobe Experience Manager Commons, and were named both 2019 and 2018 Adobe Experience Manager Rock Star winners, awarded to the world’s best Adobe Experience Manager architects.
About Bounteous
Founded in 2003 in Chicago, Bounteous is a leading digital experience consultancy that co-innovates with the world's most ambitious brands to create transformative digital experiences. With services in Strategy, Experience Design, Technology, Analytics and Insight, and Marketing, Bounteous elevates brand experiences through technology partnerships and unparalleled platform expertise. For more information, please visit www.bounteous.com. For more information about co-innovation, download the Co-Innovation Manifesto at co-innovation.com.
For the most up-to-date news, follow Bounteous on Twitter, LinkedIn, Facebook, and Instagram.
Bounteous
Sarah Baker
(877) 220-5862
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ELKHART, Ind.--(BUSINESS WIRE)--LCI Industries (NYSE: LCII), which, through its wholly-owned subsidiary, Lippert Components, Inc. ("Lippert"), supplies a broad array of highly engineered components for the leading original equipment manufacturers ("OEMs") in the recreation and transportation product markets, and the related aftermarkets of those industries, will release its first-quarter 2021 financial results before the market opens on Tuesday, May 4, 2021.
LCI Industries will also host a conference call on Tuesday, May 4, 2021, at 8:30 a.m. ET to discuss the results and other business matters. The call will conclude with a question-and-answer session with participation limited to institutional investors and analysts.
The conference call may be accessed by dialing (877) 668-4883 for participants in the U.S./Canada or (825) 312-2360 for participants outside the U.S./Canada using the required conference ID 5717208. Due to the high volume of companies reporting earnings at this time, please be prepared for hold times of up to 15 minutes when dialing in to the call. Individual investors, retail brokers, and the media are invited to listen to a live webcast of the call on the LCI Industries website at www.investors.lci1.com.
A replay of the conference call will be available for two weeks by dialing (800) 585-8367 for participants in the U.S./Canada or (416) 621-4642 for participants outside the U.S./Canada and referencing access code 5717208. A replay of the webcast will be available on the Company’s website immediately following the conclusion of the call.
Participating in the conference call will be:
About LCI Industries
LCI Industries, through its wholly-owned subsidiary, Lippert, supplies, domestically and internationally, a broad array of highly engineered components for the leading OEMs in the recreation and transportation product markets, consisting primarily of recreational vehicles and adjacent industries, including buses; trailers used to haul boats, livestock, equipment, and other cargo; trucks; boats; trains; manufactured homes; and modular housing. The Company also supplies engineered components to the related aftermarkets of these industries, primarily by selling to retail dealers, wholesale distributors, and service centers. Lippert's products include steel chassis and related components; axles and suspension solutions; slide-out mechanisms and solutions; thermoformed bath, kitchen, and other products; vinyl, aluminum, and frameless windows; manual, electric, and hydraulic stabilizer and leveling systems; entry, luggage, patio, and ramp doors; furniture and mattresses; electric and manual entry steps; awnings and awning accessories; towing products; truck accessories; electronic components; and other accessories. Additional information about Lippert and its products can be found at www.lci1.com.
Contact: Brian Hall, CFO
Phone: (574) 535-1125
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WHEATON, Ill.--(BUSINESS WIRE)--First Trust Energy Infrastructure Fund (the "Fund") (NYSE: FIF) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.0625 per share payable on May 17, 2021, to shareholders of record as of May 4, 2021. The ex-dividend date is expected to be May 3, 2021. The monthly distribution information for the Fund appears below.
First Trust Energy Infrastructure Fund (FIF): |
||
Distribution per share: |
$0.0625 |
|
Distribution Rate based on the April 19, 2021 NAV of $14.38: |
5.22% |
|
Distribution Rate based on the April 19, 2021 closing market price of $12.67: |
5.92% |
|
The Fund's Board of Trustees has approved a managed distribution policy for the Fund (the "Plan") in reliance on exemptive relief received from the Securities and Exchange Commission which permits the Fund to make periodic distributions of long-term capital gains as frequently as monthly each tax year. Under the Plan, the Fund intends to continue to pay its recurring monthly distribution in the amount of $0.0625 per share that reflects the distributable cash flow of the Fund. A portion of this monthly distribution may include long-term capital gains. This may result in a reduction of the long-term capital gain distribution necessary at year end by distributing long-term capital gains throughout the year. The annual distribution rate is independent of the Fund's performance during any particular period. Accordingly, you should not draw any conclusions about the Fund's investment performance from the amount of any distribution or from the terms of the Plan.
The distribution may consist of net investment income earned by the Fund, net short-term and long-term capital gains and/or tax-deferred return of capital. Tax-deferred return of capital, if any, is primarily due to the tax treatment of cash distributions made by master-limited partnerships ("MLPs") in which the Fund invests. The final determination of the source of tax status of all 2021 distributions will be made after the end of 2021 and will be provided on Form 1099-DIV.
The Fund is a non-diversified, closed-end management investment company that seeks to provide a high level of total return with an emphasis on current distributions paid to shareholders. The Fund seeks to achieve its investment objectives by investing primarily in securities of companies engaged in the energy infrastructure sector. These companies principally include publicly-traded MLPs and limited liability companies taxed as partnerships, MLP affiliates, YieldCos, pipeline companies, utilities, and other companies that derive at least 50% of their revenues from operating or providing services in support of infrastructure assets such as pipelines, power transmission and petroleum and natural gas storage in the petroleum, natural gas and power generation industries (collectively, "Energy Infrastructure Companies"). To generate additional income, the Fund expects to write (or sell) covered call options on up to 35% of the managed assets held in the Fund's portfolio.
First Trust Advisors L.P. ("FTA") is a federally registered investment advisor and serves as the Fund's investment advisor. FTA and its affiliate First Trust Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately $186 billion as of March 31, 2021 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. FTA is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. FTA and FTP are based in Wheaton, Illinois.
Energy Income Partners, LLC ("EIP") serves as the Fund's investment sub-advisor and provides advisory services to a number of investment companies and partnerships for the purpose of investing in MLPs and other energy infrastructure securities. EIP is one of the early investment advisors specializing in this area. As of March 31, 2021, EIP managed or supervised approximately $4.1 billion in client assets.
Past performance is no assurance of future results. Investment return and market value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost. There can be no assurance that the Fund’s investment objectives will be achieved. The Fund may not be appropriate for all investors.
Principal Risk Factors: Securities held by a fund, as well as shares of a fund itself, are subject to market fluctuations caused by factors such as general economic conditions, political events, regulatory or market developments, changes in interest rates and perceived trends in securities prices. Shares of a fund could decline in value or underperform other investments as a result of the risk of loss associated with these market fluctuations. In addition, local, regional or global events such as war, acts of terrorism, spread of infectious diseases or other public health issues, recessions, or other events could have a significant negative impact on a fund and its investments. Such events may affect certain geographic regions, countries, sectors and industries more significantly than others. The outbreak of the respiratory disease designated as COVID-19 in December 2019 has caused significant volatility and declines in global financial markets, which have caused losses for investors. The COVID-19 pandemic may last for an extended period of time and will continue to impact the economy for the foreseeable future.
The Fund is subject to risks, including the fact that it is a non-diversified closed-end management investment company.
Because the Fund is concentrated in securities issued by energy infrastructure companies, it will be more susceptible to adverse economic or regulatory occurrences affecting that industry, including high interest costs, high leverage costs, the effects of economic slowdown, surplus capacity, increased competition, uncertainties concerning the availability of fuel at reasonable prices, the effects of energy conservation policies and other factors. Investments in securities of MLPs involve certain risks different from or in addition to the risks of investing in common stocks. The number of energy-related MLPs has declined since 2014. The industry is witnessing the consolidation or simplification of corporate structures where the MLP sleeve of capital is being eliminated. As a result of the foregoing, the Fund's MLP investments could become less diverse and the Fund may increase its non-MLP investments consistent with its investment objective and policies. Changes in tax laws or regulations, or interpretations thereof in the future, could adversely affect the Fund or the MLPs, MLP-related entities and other energy sector and energy utility companies in which the Fund invests.
The Fund invests in securities of non-U.S. issuers which are subject to higher volatility than securities of U.S. issuers. Because the Fund invests in non-U.S. securities, you may lose money if the local currency of a non-U.S. market depreciates against the U.S. dollar.
There can be no assurance as to what portion of the distributions paid to the Fund's Common Shareholders will consist of tax-advantaged qualified dividend income.
To the extent a fund invests in floating or variable rate obligations that use the London Interbank Offered Rate ("LIBOR") as a reference interest rate, it is subject to LIBOR Risk. The United Kingdom's Financial Conduct Authority, which regulates LIBOR, will cease making LIBOR available as a reference rate over a phase-out period that will begin immediately after December 31, 2021. The unavailability or replacement of LIBOR may affect the value, liquidity or return on certain fund investments and may result in costs incurred in connection with closing out positions and entering into new trades. Any potential effects of the transition away from LIBOR on the fund or on certain instruments in which the fund invests can be difficult to ascertain, and they may vary depending on a variety of factors, and they could result in losses to the fund.
As the writer (seller) of a call option, the Fund forgoes, during the life of the option, the opportunity to profit from increases in the market value of the portfolio security covering the option above the sum of the premium and the strike price of the call option but retains the risk of loss should the price of the underlying security decline. The value of call options written by the Fund may be adversely affected if the market for the option is reduced or becomes illiquid. There can be no assurance that a liquid market will exist when the Fund seeks to close out an option position.
If short-term interest rates are lower than the Fund's fixed rate of payment on an interest rate swap, the swap will reduce common share net earnings. In addition, a default by the counterparty to a swap transaction could also negatively impact the performance of the common shares.
Use of leverage can result in additional risk and cost, and can magnify the effect of any losses.
The risks of investing in the Fund are spelled out in the shareholder reports and other regulatory filings.
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
The Fund's daily closing New York Stock Exchange price and net asset value per share as well as other information can be found at www.ftportfolios.com or by calling 1-800-988-5891.
Press Inquiries Jane Doyle 630-765-8775
Analyst Inquiries Jeff Margolin 630-915-6784
Broker Inquiries Sales Team 866-848-9727
DUBLIN--(BUSINESS WIRE)--The "Submarine Power Cable - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Submarine Power Cable estimated at US$9.2 Billion in the year 2020, is projected to reach a revised size of US$24.1 Billion by 2027, growing at a CAGR of 14.8% over the period 2020-2027.
Single Core, one of the segments analyzed in the report, is projected to record 15.7% CAGR and reach US$17.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Multi Core segment is readjusted to a revised 12.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.7 Billion, While China is Forecast to Grow at 14.2% CAGR
The Submarine Power Cable market in the U.S. is estimated at US$2.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.2 Billion by the year 2027 trailing a CAGR of 14.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.2% and 12.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 10.7% CAGR.
Select Competitors (Total 37 Featured):
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/16rn95
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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NEW YORK--(BUSINESS WIRE)--Tuscan Holdings Corp. (NASDAQ: THCB) (“Tuscan” or the “Company”) urges stockholders of record on March 17, 2021 to vote in favor of the proposal to extend the date by which the Company has to consummate its business combination with Microvast from April 30, 2021 to July 31, 2021 (the “Extension Amendment”) at its annual meeting of stockholders to be held virtually at https://www.cstproxy.com/tuscanholdingscorp/2021 on April 28, 2021 at 10:00 am Eastern Time.
If the requisite vote is not received in favor of the Extension Amendment Proposal, stockholders will not have the opportunity to vote on the business combination with Microvast and Tuscan may need to dissolve. In such event, your shares are expected to be redeemed for approximately $10.22 per share.
Any shares purchased in the open market by the Company’s sponsor, management or their related entities after March 17, 2021 cannot be voted at the annual meeting and as a result, cannot affect whether the Extension Amendment is approved. All shares owned by the Company’s sponsor, management and related entities as of March 17, 2021 have been voted in favor of the Extension Amendment.
"I would like to thank the shareholders that have already voted their proxies. However, more votes are needed to meet the required threshold for the Extension Amendment Proposal to be approved. Only you, our stockholders of record as of March 17, 2021, can make this vote happen," stated Stephen Vogel, Chairman and CEO of Tuscan Holdings Corp.
Please vote by telephone or internet today. Please note that if your shares are held at a brokerage firm or bank, your broker will not vote your shares for you. You must instruct your bank or broker to cast the vote. For assistance with voting your shares please contact Advantage Proxy, Inc. toll free at 1-877-870-8565, collect at 1-206-870-8565 or by email to This email address is being protected from spambots. You need JavaScript enabled to view it..
Additional Information and Where to Find It
In connection with the annual meeting of stockholders, Tuscan filed a definitive proxy statement with the SEC on March 24, 2021 (“Annual Meeting Proxy Statement”). Additionally, in connection with the proposed business combination transaction involving Tuscan and Microvast, Inc. a Delaware corporation (“Microvast”), Tuscan filed a preliminary proxy statement with the SEC on February 16, 2020 and intends to file a definitive proxy statement (collectively, “Merger Proxy Statement”). This document is not a substitute for the Annual Meeting Proxy Statement or Merger Proxy Statement. INVESTORS AND SECURITY HOLDERS AND OTHER INTERESTED PARTIES ARE URGED TO READ THE ANNUAL MEETING PROXY STATEMENT FOR MORE INFORMATION ABOUT THE PROPOSALS TO BE BROUGHT BEFORE THE ANNUAL MEETING, TO READ THE MERGER PROXY STATEMENT FOR MORE INFORMATION ABOUT THE PROPOSED TRANSACTION WITH MICROVAST, AND TO READ ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE. The Annual Meeting Proxy Statement and Merger Proxy Statement and other documents that may be filed with the SEC (when they are available) can be obtained free of charge from the SEC’s website at www.sec.gov. These documents (when they are available) can also be obtained free of charge from Tuscan upon written request to Tuscan at Tuscan Holdings Corp., 135 E. 57th St., 17th Floor, New York, NY 10022.
No Offer or Solicitation
This document is not a proxy statement or solicitation of a proxy or authorization with respect to any securities or in respect of the proposed transactions and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Tuscan Holdings Corp., nor shall there be any sale of such securities in any state or jurisdiction where such offer, solicitation, or sale would be unlawful.
Participants in Solicitation
This communication is not a solicitation of a proxy from any investor or securityholder. However, Tuscan and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies in connection with the annual meeting of stockholders under the rules of the SEC. Information about Tuscan’s directors and executive officers and their ownership of Tuscan’s securities is set forth in Tuscan’s filings with the SEC, including Tuscan’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 24, 2021, and the definitive proxy statement which was filed with the SEC on March 24, 2021 and mailed to Tuscan’s stockholders on or about March 25, 2021. When available, these documents can be obtained free of charge from Tuscan upon written request to Tuscan at Tuscan Holdings Corp., 135 E. 57th St., 17th Floor, New York, NY 10022.
Forward Looking Statements
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. Forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.
In addition to factors previously disclosed in Tuscan’s reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: (1) failure of Tuscan’s stockholders to approve the extension amendment proposal; (2) inability to complete the proposed business combination with Microvast within the required time period or, if Tuscan does not complete the proposed business combination with Microvast, any other business combination; (3) the inability to complete the proposed business combination with Microvast due to the failure to meet one or more closing conditions or the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreement; and (4) the impact of the ongoing COVID-19 pandemic.
All information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.
Tuscan Holdings Corp.:
Stephen Vogel
Chairman & CEO
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Stockholders:
Advantage Proxy, Inc.
Toll Free: 1-877-870-8565
Collect: 1-206-870-8565
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Media / Investors:
Ashish Gupta
Investor Relations
Telephone: 646-677-1875
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Company’s behind-the-meter intelligence recognized for delivering predictive analytics to utilities for enhanced grid planning, enriched load forecasting and more
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Guidehouse Insights has announced the top providers of smart meter analytics in its new report, Guidehouse Insights Leaderboard: Smart Meter Analytics, after assessing the utility grid management and optimization applications of 12 vendors. Entering the leaderboard for the first time, Bidgely scored in the “Contender” category for the success of its predictive analytics solution, Analytics Workbench, implemented by utilities to more effectively analyze the electric grid based on artificial intelligence (AI)-powered appliance-level consumption insights. Bidgely is also recognized for its expanded ability to support core utility objectives such as electrification, decarbonization, and time-of-use and peak load management.
“It is an honor to be acknowledged by Guidehouse Insights for our innovative approach to enterprise analytics that not only delivers greater customer value but also enables utilities to more effectively plan and manage increased demand on the grid, particularly as EVs and electriciation initiatives becomes more prevalent,” said Abhay Gupta, CEO of Bidgely. “Having been recently named as a Leader in the home energy management market, this recognition is a testament to Bidgely’s ability to service both customer-centric programs and grid-side analytics.”
The Guidehouse Insights Leaderboard evaluates and scores smart meter analytics providers based on their strategy and execution around 10 key criteria, including vision, technology, product portfolio and performance, geographic reach, sales and distribution. Bidgely’s patented disaggregation technology, partnerships with leading utilities throughout North America, Europe and Asia Pacific as well as its investments in automated distributed energy resources (DER) detection contributed to the company’s high ranking across all categories. Bidgely also has a strong partnership with Itron, a “Leader” on the Smart Meter Analytics Leaderboard, to integrate AI techniques that drive distributed intelligence for Itron’s global network of net-gen Riva electric and gas meters.
For a more in-depth summary of Bidgely’s position on the Smart Grid Analytics Leaderboard, download the Guidehouse Insights Leaderboard: Smart Meter Analytics Report Summary.
About Bidgely
Bidgely is an AI-powered SaaS Company accelerating a clean energy future by enabling energy companies and consumers to make data-driven energy-related decisions. Powered by our unique patented technology, Bidgely's UtilityAI™ Platform transforms multiple dimensions of customer data - such as energy consumption, demographic, and interactions - into deeply accurate and actionable consumer energy insights. We leverage these insights to empower each customer with personalized recommendations, tailored to their individual personality and lifestyle, usage attributes, behavioral patterns, purchase propensity, and beyond. From a Distributed Energy Resources (DER) and Grid Edge perspective, whether it is smart thermostats to EV chargers, solar PVs to TOU rate designs and tariffs; UtilityAI™ energy analytics provides deep visibility into generation, consumption for better peak load shaping and grid planning, and delivers targeted recommendations for new value-added products and services. With roots in Silicon Valley, Bidgely has over 17 energy patents, $50M+ in funding, retains 30+ data scientists, and brings a passion for AI to utilities serving residential and commercial customers around the world. For more information, please visit www.bidgely.com or the Bidgely blog at bidgely.com/blog.
Christine Bennett
Bidgely
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WHEATON, Ill.--(BUSINESS WIRE)--First Trust New Opportunities MLP & Energy Fund (the "Fund") (NYSE: FPL) has declared the Fund’s monthly common share distributions for May, June and July of $0.0375 per share for each month.
The payable, record and expected ex-dividend dates, as well as the distribution per share amount for these distributions are as follows:
|
May |
June |
July |
Payable Date: |
05/17/21 |
06/15/21 |
07/15/21 |
Record Date: |
05/04/21 |
06/02/21 |
07/02/21 |
Expected Ex-Dividend Date: |
05/03/21 |
06/01/21 |
07/01/21 |
Distribution Per Share: |
$0.0375 |
$0.0375 |
$0.0375 |
The monthly distribution information for the Fund appears below.
First Trust New Opportunities MLP & Energy Fund (FPL): |
|
Distribution per share: |
$0.0375 |
Distribution Rate based on the April 19, 2021 NAV of $6.11: |
7.36% |
Distribution Rate based on the April 19, 2021 closing market price of $5.38: |
8.36% |
It is anticipated that, due to the tax treatment of cash distributions made by master limited partnerships ("MLPs") in which the Fund invests, a portion of the distributions the Fund makes to Common Shareholders may consist of a tax-deferred return of capital. The final determination of the source and tax status of all 2021 distributions will be made after the end of 2021 and will be provided on Form 1099-DIV.
The Fund is a non-diversified, closed-end management investment company that seeks a high level of total return with an emphasis on current distributions paid to common shareholders. The Fund will seek to provide its common shareholders with a vehicle to invest in a portfolio of cash-generating securities, with a focus on investing in publicly traded MLPs and MLP-related entities in the energy sector and energy utilities industries that are weighted towards non-cyclical, fee-for-service revenues. Under normal market conditions, the Fund will invest at least 85% of its Managed Assets in equity and debt securities of MLPs, MLP-related entities and other energy sector and energy utilities companies that the Fund's Sub-Advisor believes offer opportunities for growth and income. To generate additional income, the Fund currently expects to write (or sell) covered call options on up to 35% of its managed assets. The Fund is treated as a regular corporation, or a "C" corporation, for United States federal income tax purposes and, as a result, is subject to corporate income tax to the extent the Fund recognizes taxable income.
First Trust Advisors L.P. ("FTA") is a federally registered investment advisor and serves as the Fund's investment advisor. FTA and its affiliate First Trust Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately $186 billion as of March 31, 2021 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. FTA is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. FTA and FTP are based in Wheaton, Illinois.
Energy Income Partners, LLC ("EIP") serves as the Fund's investment sub-advisor and provides advisory services to a number of investment companies and partnerships for the purpose of investing in MLPs and other energy infrastructure securities. EIP is one of the early investment advisors specializing in this area. As of March 31, 2021, EIP managed or supervised approximately $4.1 billion in client assets.
Past performance is no assurance of future results. Investment return and market value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost. There can be no assurance that the Fund’s investment objectives will be achieved. The Fund may not be appropriate for all investors.
Principal Risk Factors: Securities held by a fund, as well as shares of a fund itself, are subject to market fluctuations caused by factors such as general economic conditions, political events, regulatory or market developments, changes in interest rates and perceived trends in securities prices. Shares of a fund could decline in value or underperform other investments as a result of the risk of loss associated with these market fluctuations. In addition, local, regional or global events such as war, acts of terrorism, spread of infectious diseases or other public health issues, recessions, or other events could have a significant negative impact on a fund and its investments. Such events may affect certain geographic regions, countries, sectors and industries more significantly than others. The outbreak of the respiratory disease designated as COVID-19 in December 2019 has caused significant volatility and declines in global financial markets, which have caused losses for investors. The COVID-19 pandemic may last for an extended period of time and will continue to impact the economy for the foreseeable future.
The Fund is subject to risks, including the fact that it is a non-diversified closed-end management investment company.
Because the Fund is concentrated in securities issued by MLPs, MLP-related entities, and other energy and utilities companies, it will be more susceptible to adverse economic or regulatory occurrences affecting those industries, including high interest costs, high leverage costs, the effects of economic slowdown, surplus capacity, increased competition, uncertainties concerning the availability of fuel at reasonable prices, the effects of energy conservation policies and other factors.
The Fund's use of derivatives may result in losses greater than if they had not been used, may require the Fund to sell or purchase portfolio securities at inopportune times, may limit the amount of appreciation the Fund can realize on an investment, or may cause the Fund to hold a security that it might otherwise sell.
The Fund invests in securities of non-U.S. issuers which are subject to higher volatility than securities of U.S. issuers. Because the Fund invests in non-U.S. securities, you may lose money if the local currency of a non-U.S. market depreciates against the U.S. dollar.
Use of leverage can result in additional risk and cost, and can magnify the effect of any losses.
The risks of investing in the Fund are spelled out in the shareholder reports and other regulatory filings.
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
The Fund's daily closing New York Stock Exchange price and net asset value per share as well as other information can be found at www.ftportfolios.com or by calling 1-800-988-5891.
Press Inquiries Jane Doyle 630-765-8775
Analyst Inquiries Jeff Margolin 630-915-6784
Broker Inquiries Sales Team 866-848-9727
DALLAS--(BUSINESS WIRE)--Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced that it plans to release its results for the first quarter 2021 after the close of the New York Stock Exchange (NYSE) on Monday, May 3.
The following morning, on Tuesday, May 4, the company will hold its conference call with the financial community at 11 a.m. Eastern time. Scott Rowe, president and chief executive officer, and other members of management will present.
The earnings materials and webcast of the conference call can be accessed by shareholders and other interested parties at www.flowserve.com under the "Investor Relations" section.
About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.
Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; our ability to execute and realize the expected financial benefits from our strategic manufacturing optimization and realignment initiatives; economic, political and other risks associated with our international operations, including military actions or trade embargoes that could affect customer markets, particularly Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; a foreign government investigation regarding our participation in the United Nations Oil-for-Food Program; expectations regarding acquisitions and the integration of acquired businesses; our ability to anticipate and manage cybersecurity risk, including the risk of potential business disruptions or financial losses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; and other factors described from time to time in our filings with the Securities and Exchange Commission.
All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.
Investor Contacts:
Jay Roueche, Vice President, Investor Relations & Treasurer, (972) 443-6560
Mike Mullin, Director, Investor Relations, (972) 443-6636
Media Contact:
Lars Rosene, Vice President, Corporate Communications & Public Affairs, (972) 443-6644
WALL, N.J.--(BUSINESS WIRE)--The board of directors of New Jersey Resources (NYSE: NJR) unanimously declared a quarterly dividend on its common stock of $.3325 per share. The dividend will be payable on July 1, 2021 to shareowners of record as of June 16, 2021.
The company is committed to providing value to its shareowners with a competitive return and has paid quarterly dividends continuously since its inception in 1952.
About New Jersey Resources
New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:
NJR and its nearly 1,200 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®.
For more information about NJR:
www.njresources.com.
Follow us on Twitter @NJNaturalGas.
“Like” us on facebook.com/NewJerseyNaturalGas.
NJR-D
Media:
Michael Kinney
732-938-1031
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Investors:
Dennis Puma
732-938-1229
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HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) (“Genesis” or the “Company”) today announced the pricing of a registered, underwritten public offering of $250,000,000 in aggregate principal amount of 8.0% senior unsecured notes due 2027. The offering was upsized from the previously announced $200,000,000 in aggregate principal amount of the notes. The notes will be co-issued with our subsidiary, Genesis Energy Finance Corporation (“GEFC”), and will be guaranteed, with certain exceptions, by substantially all of our existing and future subsidiaries other than our unrestricted subsidiaries. The notes offered will be issued as additional notes, and are expected to rank equally with, and be treated as a single class of notes under the indenture pursuant to which the Company and GEFC issued $750,000,000 aggregate principal amount of their currently outstanding 8.0% senior unsecured notes due 2027 on December 17, 2020. The price to investors will be 103.75% of the principal amount of the notes, plus accrued interest from December 17, 2020. We intend to use the net proceeds from the offering for general partnership purposes, including repaying a portion of the revolving borrowings outstanding under our credit facility. The offering of the notes is expected to settle and close on April 22, 2021, subject to customary closing conditions.
BofA Securities, Inc., Wells Fargo Securities, LLC, SMBC Nikko Securities America, Inc., BNP Paribas Securities Corp., Capital One Securities, Inc., Citigroup Global Markets, Inc., Fifth Third Securities, Inc., RBC Capital Markets, LLC, Regions Securities LLC, and Scotia Capital (USA) Inc. are acting as joint book-running managers for the offering and Comerica Securities, Inc. is acting as co-manager. A copy of the final prospectus supplement and accompanying base prospectus relating to this offering, when available, may be obtained from:
BofA Securities, Inc.
NC1-004-03-43
200 North College Street, 3rd Floor
Charlotte, NC 28255-0001
Attn: Prospectus Department
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Wells Fargo Securities, LLC
550 S. Tryon Street, 5th Floor
Charlotte, NC 28202
Attn: Leveraged Syndicate
SMBC Nikko Securities America, Inc.
277 Park Avenue
New York, NY 10172
Tel: 888-868-6856
Attention: Debt Capital Markets
BNP Paribas Securities Corp.
787 Seventh Avenue
New York, NY 10019
Attention: Syndicate Desk
Tel: 212-841-2871
Capital One Securities, Inc.
201 St. Charles Ave., Suite 1830
New Orleans, Louisiana 70170
Attention: Gabrielle Halprin
Citigroup Global Markets Inc.
Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Fifth Third Securities, Inc.
38 Fountain Square Plaza
Cincinnati, OH 45263
Attn: Syndicate Department
Tel: 866-531-5353
RBC Capital Markets
Attn: HY Capital Markets
200 Vesey St – 8th Floor
New York, NY 10281
Telephone: (212) 428-6200
Regions Securities LLC
1180 West Peachtree St. NW, Suite 1400
Atlanta, GA 30309
Attention: Debt Capital Markets
Telephone: (704) 940-5066
Scotia Capital (USA) Inc.
250 Vesey Street
New York, New York 10281
Comerica Securities, Inc.
3551 Hamlin Road, 4th Floor
MC 7476
Auburn Hills, MI 48326
You may also obtain these documents for free, when they are available, by visiting the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities 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 offer is being made only through the prospectus supplement and accompanying base prospectus, each of which is part of our effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission.
Genesis is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation and marine transportation. Genesis’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.
This press release includes forward-looking statements as defined under federal law. Although we believe that our expectations are based upon reasonable assumptions, no assurance can be given that our goals will be achieved, including statements regarding our ability to successfully close the offering and to use the net proceeds as indicated above. Actual results may vary materially. We undertake no obligation to publicly update or revise any forward-looking statement.
Genesis Energy, L.P.
Ryan Sims
SVP – Finance and Corporate Development
(713) 860-2521
BOGOTA, Colombia--(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Argentina, Brazil, Chile and Ecuador, announced the pricing of US$150,000,000 aggregate principal amount of 5.500% senior notes due 2027 (the “Notes”). The issue price for the Notes is 101.875% and the yield to maturity of the Notes is 5.117%. The Notes constitute an additional issuance of previously issued US$350,000,000 aggregate principal amount of the Company’s 5.500% Notes due 2027. The Notes were offered in a private placement to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act. The Notes will be fully and unconditionally guaranteed jointly and severally by GeoPark Chile SpA and GeoPark Colombia S.L.U. The settlement of the Notes offering is expected to take place on April 23, 2021, subject to customary closing conditions.
The net proceeds from the Notes offering will be used by the Company to purchase a portion of its outstanding 6.500% Senior Notes due 2024 (the “2024 Notes”) through a concurrent tender offer and consent solicitation and for general corporate purposes.
This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor will there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction. The Notes have not been registered under the Securities Act, or any applicable state securities laws, and will be offered only to qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act. Unless so registered, the Notes may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and any applicable state securities laws.
ABOUT GEOPARK
GeoPark is a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil and Argentina.
For more information, please visit www.geo-park.com.
CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often are preceded by words such as “believes,” “expects,” “may,” “anticipates,” “plans,” “intends,” “assumes,” “will” or similar expressions. The forward-looking statements contained herein include statements about the tender offer for the 2024 Notes, the Company’s Notes offering and its intended use of proceeds therefrom. These expectations may or may not be realized. Some of these expectations may be based upon assumptions or judgments that prove to be incorrect. In addition, GeoPark’s business and operations involve numerous risks and uncertainties, many of which are beyond the control of GeoPark, which could result in GeoPark’s expectations not being realized or otherwise materially affect the financial condition, results of operations and cash flows of GeoPark. Some of the factors that could cause future results to materially differ from recent results or those projected in forward-looking statements are described in GeoPark’s filings with the United States Securities and Exchange Commission.
The forward-looking statements are made only as of the date hereof, and GeoPark does not undertake any obligation to (and expressly disclaims any obligation to) update any forward-looking statements to reflect events or circumstances after the date such statements were made, or to reflect the occurrence of unanticipated events. In light of the risks and uncertainties described above, and the potential for variation of actual results from the assumptions on which certain of such forward-looking statements are based, investors should keep in mind that the results, events or developments disclosed in any forward-looking statement made in this document may not occur, and that actual results may vary materially from those described herein, including those described as anticipated, expected, targeted, projected or otherwise.
INVESTORS:
Stacy Steimel
Shareholder Value Director
T: +562 2242 9600
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Miguel Bello
Market Access Director
T: +562 2242 9600
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Diego Gully
Investor Relations Director
T: +5411 4312 9400
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MEDIA:
Communications Department
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Accomplished finance executive with more than 25 years of public and private company experience joins fleet electrification leader
BOSTON--(BUSINESS WIRE)--XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a leading provider of fleet electrification solutions for commercial vehicles in North America, today announced the addition of Cielo M. Hernandez as Chief Financial Officer of XL Fleet. As CFO, Hernandez will oversee the Company’s financial organization, including financial reporting, financial planning, internal controls, as well as treasury. Hernandez’s extensive experience and capability will also contribute to strategic planning, M&A, and investor relations.
“We are extremely excited to welcome Cielo to our leadership team,” said Dimitri Kazarinoff, Chief Executive Officer of XL Fleet. “Cielo is a high-caliber finance executive whose extensive experience driving growth, operational improvements and functional excellence positions her very well to lead XL Fleet’s finance organization and deliver significant value to our stakeholders. I look forward to working closely with Cielo as we continue to execute on our growth plan as a public company.”
Hernandez is a finance professional with more than 25 years of experience, with an extensive track record of leading global teams and strategies for both publicly traded and private companies. She has held various positions in finance, operations, procurement and information systems, and prior to joining XL Fleet, served as Senior Vice President and Chief Financial Officer of South Jersey Industries, Inc., a publicly traded energy utility company. She previously served as Vice President and Chief Financial Officer for the North America region at A.P. Moeller Maersk A/S, and held leadership roles at APM Terminals, Amcor and DIRECTV.
“Cielo’s strong finance and accounting background at both public and private companies is well-aligned with XL Fleet’s growth trajectory, and her strategic financial leadership is immensely valuable at a critical time in our company’s evolution,” said Tod Hynes, Founder and President of XL Fleet. “We look forward to Cielo’s contributions toward our ongoing growth and our mission of leading electrification across the global commercial fleet space.”
Hernandez earned her undergraduate degree in Accounting from Universidad Santiago de Cali, Colombia. She also holds a Master of Business Administration degree with specialization in International Business from the University of Miami. Hernandez is a Certified Public Accountant and holds a Certification in Human Resources Talent Management from Universidad Santiago de Cali, Colombia as well as Certifications in Executive Leadership and High-Performance Leadership from Cornell University, and Strategic Leadership and Improving the Business from IMD University Switzerland. Hernandez is a Board member of Rowan University Foundation and was named as one of South Jersey Biz’s Women to Watch for 2020.
About XL Fleet
XL Fleet is a leading provider of fleet electrification solutions for commercial vehicles in North America, with more than 150 million miles driven by customers such as The Coca-Cola Company, Verizon, Yale University and the City of Boston. XL Fleet’s hybrid and plug-in hybrid electric drive systems can increase fuel economy up to 25-50 percent and reduce carbon dioxide emissions up to 20-33 percent, decreasing operating costs and meeting sustainability goals while enhancing fleet operations. XL Fleet’s plug-in hybrid electric drive system was named one of TIME magazine's best inventions of 2019. For additional information, please visit www.xlfleet.com.
Forward Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of management and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to failure to realize the anticipated benefits from the business combination; the effects of pending and future legislation; the highly competitive nature of the Company’s business and the commercial vehicle electrification market; litigation, complaints, product liability claims and/or adverse publicity; cost increases or shortages in the components or chassis necessary to support the Company’s products and services; the introduction of new technologies; the impact of the COVID-19 pandemic on the Company’s business, results of operations, financial condition, regulatory compliance and customer experience; the potential loss of certain significant customers; privacy and data protection laws, privacy or data breaches, or the loss of data; general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the inability to convert its sales opportunity pipeline into binding orders; risks related to the rollout of the Company’s business and the timing of expected business milestones; the effects of competition on the Company’s future business; the availability of capital; and the other risks discussed under the heading “Risk Factors” in our Annual Report on Form 10-K filed on March 31, 2021 and other documents that the Company files with the SEC in the future. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and the Company specifically disclaims any obligation to update these forward-looking statements.
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New HOrizons Ahead with the new Asian partner to consolidate global growth
PARIS--(BUSINESS WIRE)--Regulatory News:
ENGIE has announced the signing of a Sale Purchase Agreement with Taiwanese company TCC for its 60.5% stake in the share capital of ENGIE EPS (Paris:EPS). TCC, with an over $10 billion market capitalization, is one of the pre-eminent industrial groups in Asia, with activities in battery manufacturing, cement production, power generation, environmental services, chemicals, logistics and infrastructures. TCC has been very active in recent years in developing renewable energy and energy storage systems.
The completion of the transaction, executed at Euro 17.10 per share, corresponding to an aggregate consideration of Euro 132 million and an implied Enterprise Value of over Euro 240 million, will be followed, in accordance with applicable regulations, by the filing of an all-cash simplified mandatory tender offer for all outstanding shares of ENGIE EPS. In accordance with the AMF General Regulation, the Board of Directors has formed an ad-hoc committee and will appoint an independent expert and will issue, notably on the basis of the report of the independent expert, a reasoned opinion (avis motivé) on the merits and consequences of the tender offer for ENGIE EPS, its shareholders and its employees. ENGIE EPS is assisted by Lazard.
Following the transaction, which is subject to customary approvals and regulatory consent, ENGIE confirmed it will pursue commercial partnerships with ENGIE EPS.
Upon completion of the transaction, expected during the summer of 2021, ENGIE EPS will become NHOA.
Carlalberto Guglielminotti, Chief Executive Officer of ENGIE EPS declares, “This acquisition by a leading, visionary industrial group like TCC, represents the ultimate recognition of our world-class technology leadership and a transformational opportunity to consolidate our growth globally. It will give us instant access to a world leading supply chain and to the Asian markets, as well as the financial breadth to credibly position as a global leader in the turnkey delivery of energy storage systems and a global enabler of the eMobility revolution. More importantly, with TCC we share the mission, which inspired our new brand NHOA, to shape a better future for a next generation living in harmony with our planet.”
Roberto Di Stefano, Chief Executive Officer of Free2Move eSolutions, the Joint Venture between ENGIE EPS and Stellantis, declared, “We welcome TCC which represents an unparalleled opportunity to support the electric mobility transition in Asia, the most advanced e-mobility market worldwide.”
“Together we will make a difference to the world and the Earth,” said Nelson Chang, Chairman of the Board of TCC, commenting the announced acquisition and creation of the new brand NHOA.
New HOrizons Ahead: this is NHOA. A new brand that represents the enlightened and sustainable future backed by TCC, and the mission to unlock the global transition towards clean energy and sustainable mobility.
To seal a global vision built on heritage within our core values, NHOA takes its inspiration from Noah, the founder of a renewed humanity. The underline in the new logo represents the horizon, and the “omega”, symbolizing in the Ohm's law the electrical resistance, inspires a rising sun: the dawn of a new era.
The website www.nhoa.energy has already been launched and, upon closing of the transaction, will become the new corporate website of the company.
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The investor conference call is scheduled on 20 April 2021 at 8:00am CET, the dial-in details and the presentation will be available on ENGIE EPS’ corporate website: engie-eps.com/events
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About ENGIE EPS
Engie EPS is the technology and industrial player within the ENGIE group, developing technologies to revolutionize the paradigm in the global energy system towards renewable energy sources and electric mobility. Listed on Euronext Paris regulated market (EPS.PA), Engie EPS forms part of the CAC® Mid & Small and CAC® All-Tradable financial indices. Its registered office is in Paris, with research, development and production located in Italy.
For further information, please visit www.engie-eps.com and www.nhoa.energy.
***
About ENGIE
Our group is a global reference in low-carbon energy and services. Together with our 170,000 employees, our customers, partners and stakeholders, we are committed to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions. Inspired by our purpose (“raison d’être”), we reconcile economic performance with a positive impact on people and the planet, building on our key businesses (gas, renewable energy, services) to offer competitive solutions to our customers. Turnover in 2020: 55.8 billion Euros. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe, Euronext Vigeo Eiris - Eurozone 120/ Europe 120/ France 20, MSCI EMU ESG, MSCI Europe ESG, Euro Stoxx 50 ESG, Stoxx Europe 600 ESG, and Stoxx Global 1800 ESG).
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Forward looking statement
This release may contain forward-looking statements. These statements are not undertakings as to the future performance of ENGIE EPS. Although ENGIE EPS considers that such statements are based on reasonable expectations and assumptions at the date of publication of this release, they are by their nature subject to risks and uncertainties which could cause actual performance to differ from those indicated or implied in such statements. These risks and uncertainties include without limitation those explained or identified in the public documents filed by ENGIE EPS with the French Financial Markets Authority (AMF), including those listed in the “Risk Factors” section of the ENGIE EPS Universal Registration Document filed with the AMF on Wednesday 7 April 2021 (under registration number n° D.21-0273). Investors and ENGIE EPS shareholders should note that if some or all of these risks are realized they may have a significant unfavourable impact on ENGIE EPS.
These forward looking statements can be identified by the use of forward looking terminology, including the verbs or terms “anticipates”, “believes”, “estimates”, “expects”, “intends”, “may”, “plans”, “build- up”, “under discussion” or “potential customer”, “should” or “will”, “projects”, “backlog” or “pipeline” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts and that are to different degrees, uncertain, such as statements about the impacts of the Covid-19 pandemic on ENGIE EPS’ business operations, financial results and financial position and on the world economy. They appear throughout this announcement and include, but are not limited to, statements regarding the ENGIE EPS’ intentions, beliefs or current expectations concerning, among other things, the ENGIE EPS’ results of business development, operations, financial position, prospects, financing strategies, expectations for product design and development, regulatory applications and approvals, reimbursement arrangements, costs of sales and market penetration. Important factors that could affect performance and cause results to differ materially from management’s expectations or could affect the ENGIE EPS’ ability to achieve its strategic goals, include the uncertainties relating to the impact of Covid-19 on ENGIE EPS’ business, operations and employees. In addition, even if the ENGIE EPS’ results of operations, financial position and growth, and the development of the markets and the industry in which ENGIE EPS operates, are consistent with the forward-looking statements contained in this announcement, those results or developments may not be indicative of results or developments in subsequent periods. The forward-looking statements herein speak only at the date of this announcement. ENGIE EPS does not have the obligation and undertakes no obligation to update or revise any of the forward-looking statements.
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DUBLIN--(BUSINESS WIRE)--The "Global Electricity TSO Profiles and Benchmarking Report 2021" report has been added to ResearchAndMarkets.com's offering.
This report provides detailed profiles of around 212 transmission system operators (TSOs) and developers operating in over 100 countries in six regions - North America, Latin America, Asia, Europe, the Middle East and Africa.
The report has the following distinct sections:
Each TSO profile has information and data on:
Key Topics Covered:
PART 1 EXECUTIVE SUMMARY
PART 2 KEY GLOBAL TRENDS
2.1 Growth in network
2.2 Trends in operational performance
2.3 Trends in financial performance
2.4 Trends in capital expenditure
PART 3 INTER-TSO COMPARISON: NETWORK SIZE AND EXPECTED GROWTH
3.1 Operational structure
3.2 Growth in the transmission network, 22015-220
3.3 Expected trends in network expansion, 22021-225
PART 4 INTER-TSO COMPARISON: OPERATIONAL AND FINANCIAL PERFORMANCE
4.1 operational performance
4.2 Financial performance
PART 5 INTER-DSO COMPARISON: PAST AND FUTURE CAPEX
5.1 Trend in capital expenditure, 22015-220
5.2 Expected trends in CAPEX/investment, 22021-225
PART 6 TSO PROFILES (Selection Listed Below)
For more information about this report visit https://www.researchandmarkets.com/r/bb0dws
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SEOUL, South Korea--(BUSINESS WIRE)--#CarbonNanotube--LG Chem (KRX: 051910) has launched the largest Carbon Nanotube (CNT) manufacturing plant in Korea. The company is actively targeting the rapidly growing CNT market, widely used as the material for cathodes in electric vehicle batteries.
On April 14th, LG Chem announced that the 1,200 metric tons (MT) expansion of Yeosu CNT 2nd Plant was completed and has begun the commercial operations. Combined with the existing 500 MT which started its first operation in 2017, LG Chem has obtained a total capacity of 1,700 MT.
LG Chem’s new CNT 2nd Plant was constructed as the world’s largest single-line production facility with a self-developed fluidized bed reactor. The plant has achieved stable quality control by complete automation and reduced power consumption by 30% through process innovation.
The CNT produced at this plant will be supplied to market-leading global electric vehicle battery companies as a conductive additive. Also, its applications will be extended to a wide range of fields such as surface heating elements and semi-conductive high-voltage cables.
As the CNT market continues to grow, LG Chem plans to begin the construction of a third plant this year and continue expanding its capacity in the future. Indeed, the industry expects the global CNT demand to grow explosively at 40% per year, from 5,000 MT last year to 20,000 in 2024.
LG Chem’s CNT business works on developing competitive products using the vertical integration from ethylene, a raw material, to catalysts developed with proprietary technologies and production technologies which include self-developed fluidized bed reactors.
In the case of catalysts, which are one of the core technologies, LG Chem applies cobalt-based catalysts to achieve superior quality—it reduces magnetic impurities that may negatively affect the battery quality. Iron-based catalysts that are commonly used in the industry have a relatively high content of metal and magnetic contaminants compared to cobalt, requiring a separate post-treatment process for commercialization.
“CNT is a business with a huge potential, as they are used in various products apart from batteries,” said Kug Lae Noh, the President of Petrochemicals Company. “The company, therefore, plans to become a global leader based on expanded production capacity and competitiveness in quality.”
For more information about LG Chem’s CNT, please visit https://www.lgchem.com/main/index
LG Chem
Yon Jee Kim
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Almost $5 Million in Awards for Innovative Low- and Zero-Carbon Emitting Building Design and Construction
NEW YORK--(BUSINESS WIRE)--#brightpowerinc--Bright Power, a leading energy and water management company, celebrates five projects that were recently awarded funding in the second round of the Buildings of Excellence Competition, administered by The New York State Energy Research and Development Authority (NYSERDA).
The Buildings of Excellence Competition recognizes and supports the design, construction and operation of low-carbon emitting multifamily buildings in New York. It supports the Climate Leadership and Community Protection Act (Climate Act), the most aggressive climate change program in the nation, which puts New York State on a path to economy-wide carbon neutrality and mandates an 85 percent reduction in greenhouse gas emissions by 2050. The competition was launched in March 2019 and the first round awarded $18 million to 28 projects, nine of which are projects that are working with Bright Power on sustainability features and design. This second round awarded $13 million to 14 projects, five of which are working with Bright Power.
The five projects include:
At Dekalb Commons, St. Nicks Alliance and Bedford Stuyvesant Restoration Corporation will use the award with Bright Power, Magnusson Architecture and Planning PC and Dagher Engineering, PLLC to build to Passive House standards and investigate the feasibility of integrating a solar photovoltaic (PV) array with community solar. Building to Passive House standards will provide future residents with greater thermal comfort, increased air quality, and superior insulation, controlling utility costs. By integrating community solar, St. Nicks Alliance and Bedford Stuyvesant Restoration Corporation will be able to generate electricity at the property and will enable more New Yorkers to realize the benefits and savings associated with clean energy. Bright Power will also provide Enterprise Green Communities certification in addition to commissioning and Passive House consulting. Bright Power is delivering the technical support for this project’s participation in NYSERDA’s Multifamily New Construction Program.
"St. Nicks Alliance is committed to the development of energy efficient and sustainable housing. We are honored to receive the Buildings of Excellence award from NYSERDA for our Dekalb Commons project. This award recognizes the commitment and efforts of not only St. Nicks Alliance, but our committed partners of Bedford Stuyvesant Restoration Corporation, Magnusson Architecture and Planning, and Bright Power. The addition of the Blue Ribbon for Design Excellence for the Buildings of Excellence Competition further shows the team's strong commitment to provide quality and sustainable affordable housing. We hope to continue this mission of energy efficiency and sustainability in future projects," stated Frank Lang, Director for Housing.
At Hudson Hill, Westhab will use the award with Bright Power, Amie Gross Architects and EP Engineering to build an all-electric building with Passive House inspired design. Hudson Hill will boast an Energy Recovery Ventilator (ERV) system, heat pump water heaters, triple glazed windows, and will have reduced embodied carbon due to the wood frame. Bright Power designed a 121 kilowatt ballasted solar PV array so Hudson Hill can generate electricity at the property and offset the common area meter. In addition, Bright Power will provide ENERGY STAR certification and commissioning. Bright Power expects to deliver the technical support for this project’s participation in NYSERDA’s New Construction - Housing Program. Future residents will have a high performing building with superior comfort while ownership will reduce utility costs.
“Hudson Hill will bring safe, affordable, resilient housing to low- and moderate- income individuals and families, while incorporating both proven and novel technologies and strategies to reduce energy consumption, increase healthy living, and lower the building’s carbon footprint,” says Westhab’s Senior Vice President of Real Estate, Andrew Germansky. “Bright Power has been instrumental in determining the best components to incorporate into the design of Hudson Hill to ensure that it is a model for sustainable development. Together, we're demonstrating that affordable housing can be high-quality, replicable, and sustainable.”
At Linden Boulevard Phase III, Radson Development will use the award with Bright Power, Magnusson Architecture and Planning PC and Di Bari Engineering, P.C. to develop a very high performing, all-electric building, expanding on the previous two phases of the Linden Boulevard project. Phase III will include a variable refrigerant flow (VRF) system, heat pump hot water heaters with VRF heat recovery and energy recovery ventilators (ERV). Bright Power will provide Enterprise Green Communities certification and ENERGY STAR certification. Bright Power expects to deliver the technical support for this project’s participation in NYSERDA’s New Construction - Housing Program. Bright Power also is investigating the feasibility of building Linden Boulevard Phase III to Passive House standards.
Bright Power joined the design team for all three phases of the Linden Boulevard projects, which will serve as comparative case studies, given that the buildings will be similar in size, to highlight the real operational impacts of increased energy efficiency and high performance design practices across the phases.
Linden Boulevard Phase I featured a VRF system and a high efficiency condensing water heater. Bright Power provided Enterprise Green Communities certification and commissioning. Bright Power is also delivering the technical support for this project’s participation in NYSERDA’s Multifamily New Construction Program.
Radson Development expands on the sustainability features in Linden Boulevard Phase I for Linden Boulevard Phase II, a first round Buildings of Excellence award-winner. Radson Development is using the Buildings of Excellence award to install heat pump water heaters and will work with Bright Power to provide commissioning and high-performance building consulting. The latter two will ensure that the heat pump water heaters are installed and working as designed. Heat pump water heaters provide premium comfort for tenants while controlling utility costs and are a key technology in electrifying buildings.
At The Rise, Xenolith Partners will use the award with Bright Power, Magnusson Architecture and Planning PC and Dagher Engineering to build a Passive House certified, all-electric building. The Rise will feature heat pump water heaters for domestic hot water, VRF heat pumps for heating and cooling, energy recovery ventilation, solar PV for on-site electricity generation, and green roofs and walls. Bright Power is providing Passive House consulting and certification services, Enterprise Green Communities certification services, and solar consulting and design services.
“Xenolith is thrilled to receive this BOE and Design Excellence award for The Rise, and to be collaborating with an exceptional team, including Bright Power, MAP and Dagher, to deliver our second Passive House project. The Rise will promote health equity and advance sustainable affordable and supportive housing for justice-involved individuals and their families in the Brownsville community. We are grateful for NYSERDA’s recognition and support in achieving these goals,” said Chris Lebron of Xenolith Partners.
At Bethany Terraces Senior Houses, RiseBoro Community Partnership, Inc. will use the award with Bright Power, Paul A. Castrucci Architects PLLC and Zero Energy Designs to build an all-electric building built to Passive House standards. With a Passive House design, Bethany Terraces Senior Houses will provide future residents with superior comfort while keeping operations costs low. Bright Power will serve as the Passive Houses Verifier and expects to deliver the technical support for this project’s participation in NYSERDA’s New Construction - Housing Program.
“Bethany Terraces is a continuation of our groundbreaking passive house development and is our first modular project, which will reduce construction costs and time while saving on overall carbon emissions and bringing the project to nearly Net Zero,” said Ryan Cassidy, Director of Sustainability and Construction for RiseBoro Community Partnership, Inc.
“We are thrilled to be a part of these innovative projects and are honored to work with such forward-thinking building owners and developers. Thanks to competitions like the Buildings of Excellence, the real estate industry can see the value and impact of low- and zero-carbon emitting buildings — and share best practices,” said Jeffrey Perlman, Founder and CEO of Bright Power.
NYSERDA President and CEO Doreen M. Harris said, “As we continue to transform buildings across the state to be more energy efficient in support of our transition to a carbon neutral economy, it’s critical to recognize the important role our market partners play in helping us meet our shared climate goals. We congratulate Bright Power on their contributions to five Buildings of Excellence Round Two winning projects and applaud their commitment to creating more sustainable, comfortable and affordable housing opportunities for New Yorkers.”
About Bright Power, Inc.
Bright Power provides strategic energy and water solutions to building owners and operators across the nation. Specializing in multifamily apartment buildings, Bright Power has worked with over 1,900,000 apartments that cover 1,900,000,000 square feet. Bright Power’s energy management solutions include EnergyScoreCards benchmarking software, energy audits, energy procurement, on-site generation, green building design services, turnkey installation of energy improvements and ongoing energy management. For more information, please visit www.brightpower.com.
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