Superhub in Bed-Stuy will have 25 fast chargers open 24/7 to the public and accessible to owners of any EV brand, and charging will be free through July 6th
United States Secretary of Energy Jennifer M. Granholm, New York City Council Member Robert E. Cornegy Jr., Con Edison CEO Tim Cawley, Tritium President Mike Calise and New York League of Conservation Voters President Julie Tighe celebrated the opening at a ribbon-cutting ceremony held by Revel
BROOKLYN, N.Y.--(BUSINESS WIRE)--Electric transportation company Revel opened its first electric vehicle (EV) fast charging Superhub to the public today at the historic former Pfizer building in Bed-Stuy, Brooklyn. The Superhub is the largest universal EV fast charging depot in the Americas with 25 chargers, and is the first of a network of Superhubs planned by Revel across New York City. For the first week that the Bed-Stuy site is open, charging will be free to members of the public (through Tuesday, July 6th).
Prior to the opening of Revel’s first Superhub, there were only two publicly-available EV fast charging stations in NYC’s urban core. Most depots in the city are in further-flung locations like JFK airport, and many charge a fee just to enter the parking lot. New York City also has a low rate of electric vehicle adoption, with only 14,000 EVs out of the 1.9 million cars and SUVs registered in the city.
At a ribbon-cutting ceremony held today, Revel CEO Frank Reig, United States Secretary of Energy Jennifer M. Granholm, New York City Council Member Robert E. Cornegy Jr., Con Edison CEO Tim Cawley, Tritium President Mike Calise and New York League of Conservation Voters President Julie Tighe spoke to the importance of expanding access to EV charging.
“It’s no surprise that EV adoption is lagging in our city- the infrastructure just isn’t here yet, and the stations that do exist aren’t accessible to most New Yorkers,” said Revel CEO and Co-Founder Frank Reig. “Our Superhubs are designed to reach as many people as possible in the neighborhoods where they actually live. This is what NYC needs to move towards an electric future and we’re excited to get started.”
"Today's ribbon cutting isn’t about just one charging station, even though it is the biggest universal charging station in the country,” said United States Secretary of Energy Jennifer M. Granholm. “It represents our vision for building a clean energy economy on the foundation of good-paying jobs, overcoming and improving the health outcomes of communities too often left behind. As the old saying goes—if you can make it in New York, you can make it anywhere. And we need electric vehicles and charging stations everywhere, in cities and towns all across America."
“Shirley Chisholm was not afraid of change. She was a spokesperson for the young women of Bedford-Stuyvesant, and her message resonated across the world. We are willing to find creative ways to support local residents,” said New York City Council Member Robert E. Cornegy Jr. “This year I am launching my 4th Shared Economy summer, which connects the new technology of app-based transportation to support mom-and-pop businesses. Now Bed-Stuy is taking lead by becoming home to the largest universal fast charging depot in North America. We are showing that fighting global problems like greenhouse emissions can help our local businesses, so we welcome Revel as part of our community.”
“As we work to combat climate change, the future of transportation is electric, but many drivers won’t feel comfortable buying an EV until they see a critical mass of public charging stations around the city,” said Con Edison CEO Tim Cawley. “The Brooklyn superhub makes it convenient for current EV owners to charge up and will encourage more New Yorkers to consider buying an electric car.”
"We are extremely pleased to have partnered with Revel on this project. Access to fast, reliable and convenient charging solutions is critical to the uptake of EVs, and the Superhub is an ideal solution to help more New Yorkers adopt electric transportation," said Tritium President of the Americas Mike Calise. "Projects like the Superhub give urban drivers the confidence that they can make the leap to an EV with access to a site providing rapid charging solutions all day, every day."
“We can't tackle climate without tackling transportation. Just as the Biden Administration is prioritizing electrification as part of its federal climate agenda, New York is accelerating its shift to electric vehicles by installing infrastructure like this new fast-charging depot,” said Julie Tighe, President of the New York League of Conservation Voters. "Our environment wins when governments, communities, and companies like Revel work together to invest in clean transportation."
Revel chose Tritium’s recently launched RTM fast charger for its Brooklyn site. This is the first time the model is available in North America, and at 75kW, the chargers provide EV drivers with 100 additional miles in about 20 minutes. Two of the charging stalls are specially designed to ensure Americans with Disabilities Act (ADA) compliance. Revel also contracted with MP2 Energy LLC to ensure that the charges are entirely powered by renewable energy sources.
Revel also worked closely with Con Edison to make its Superhub vision a reality, and is the first fast charging operator participating in Con Edison's PowerReady program to complete a project.
About Revel
Revel is a Brooklyn-born transportation company that’s electrifying cities through charging infrastructure and shared electric vehicle fleets. Through the Revel app, users can rent electric mopeds, sign up for monthly eBike subscriptions, hail an electric car ride or find fast-charging stations compatible with any brand of EV. Revel prides itself on its total rejection of the gig economy and its collaborative approach with local governments. Founded in 2018, the company now operates in four New York City boroughs, Washington, D.C., Miami, Florida, and San Francisco, California. To learn more, visit gorevel.com and follow @_gorevel on Twitter.
About Tritium
Founded in 2001, Tritium designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.
As announced on May 26, 2021, Tritium has entered into a definitive agreement for a business combination with Decarbonization Plus Acquisition Corporation II (NASDAQ: DCRN, DCRNW), a publicly traded special purpose acquisition company (SPAC), that would result in Tritium becoming a publicly listed company. Completion of the proposed transaction is subject to customary closing conditions and is expected to occur in the fourth quarter of 2021.
For more information, visit tritiumcharging.com
About Con Edison
Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation’s largest investor-owned energy companies, with approximately $12 billion in annual revenues and $62 billion in assets. The utility delivers electricity, natural gas and steam to 3.5 million customers in New York City and Westchester County, N.Y. Through Consolidated Edison Inc.’s subsidiary, Con Edison Clean Energy Businesses, the company is the second-largest solar developer in the United States and the seventh-largest worldwide.
Owen Stone
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WESTLAKE, Ohio--(BUSINESS WIRE)--TravelCenters of America Inc. (Nasdaq: TA) today announced it has been added to the Russell 2000® Index as of June 28, 2021 as part of Russell Investments' annual reconstitution of its comprehensive set of U.S. and global equity indexes.
“We are pleased to be included in the Russell 2000® Index, one of the most widely used performance benchmarks for small-cap companies,” said Jon Pertchik, Chief Executive Officer of TA. “This is an important milestone for TA, and we look forward to the broadened visibility in the investment community and improved liquidity that we expect from our inclusion in Russell’s world-class market index.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
About TravelCenters of America Inc.:
TravelCenters of America Inc. (Nasdaq: TA) is the nation's largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its more than 20,000 employees serve customers in over 270 locations in 44 states and Canada, principally under the TA®, Petro Stopping Centers® and TA Express® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, convenience stores, car and truck parking and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists, while leveraging alternative energy to support its own operations. TA operates over 600 full-service and quick-service restaurants and 9 proprietary brands, including Iron Skillet® and Country Pride®. For more information, visit www.ta-petro.com.
Warning Regarding Forward Looking Statements
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. For example, this press release states that TA expects the broadened awareness among the investment community and improved liquidity from its inclusion in the Russell 2000® Index. Also, whenever TA uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, "will", “may” and negatives or derivatives of these or similar expressions, TA is making forward-looking statements. These forward-looking statements are based upon TA’s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur or may not have the effects TA expects. Actual results may differ materially from those contained in or implied by TA’s forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, including those set forth in TA’s filings with the Securities and Exchange Commission, some of which are beyond TA’s control.
Kristin Brown, Director, Investor Relations
(617) 796-8251
www.ta-petro.com
Domingo Joins Encina to Lead Its Asian Business
THE WOODLANDS, Texas--(BUSINESS WIRE)--#CircularEconomy--Encina Development Group (“Encina”), a company that produces circular chemicals from waste plastics, has appointed Aaron Domingo as the managing director of Asia.
“Aaron is a proven leader with a quarter century career in the project finance and project development sectors,” said David Schwedel, Executive Director of Encina. “His global experience in power and renewable projects will be important to Encina as we expand our business and deliver highly-valued circular chemicals to the marketplace.”
“It’s an exciting time to join Encina,” said Aaron, “Circular economy benefits business, society, and the environment. I am confident that I will add value to Encina’s management team with my strong experience in renewable project development, financing, construction, operations, and international team management.”
Aaron began his career in project development and project financing at GE Capital in the United States. He later moved to Hong Kong to cover GE’s Asian power development markets. He subsequently initiated and built development businesses with various organizations in Asia, Europe, and the U.S. Throughout his 29-year career, Aaron developed and implemented over $5 billion worth of projects in the conventional power and renewable power sectors.
Aaron holds a Bachelor of Science in Business Administration from Syracuse University and an MBA from University of Chicago.
About Encina Development Group
Encina Development Group implements solutions to produce circular chemicals from waste plastics. Encina’s basic circular chemical products provide the foundation that helps customers meet their renewable goals and create a pathway to produce circular products across a broad spectrum of goods, from consumer products and packaging to pharmaceuticals, construction, and much more. www.encina.com.
Aileen Fan
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305-310-8218
COEUR D’ALENE, Idaho & NEW YORK--(BUSINESS WIRE)--KORE Power, Inc., (“KORE Power” or “KORE”) the leading U.S.-based developer of battery cell technology for the energy storage and electric transportation industries, announced that it has formed a strategic partnership with Cleanhill Partners (“Cleanhill”), a private equity firm pursuing investments in the energy transition sector that contribute to decarbonization. Cleanhill has invested in KORE Power as part of the strategic partnership.
Rakesh Wilson and Ash Upadhyaya, founders of Cleanhill, have joined KORE Power as special advisors to Founder and CEO Lindsay Gorrill. As veterans of the energy finance and investment sector, Rakesh and Ash will guide KORE’s strategy on growth and investment opportunities.
“Rakesh and Ash bring over 40 years of combined experience in ESG, power, energy and infrastructure,” said CEO Lindsay Gorrill. “We are excited to partner with them to tap into their rich experience to position KORE as the leader in the energy transition sector.”
Ash Upadhyaya is a founder and Managing Partner at Cleanhill Partners. He has over 20 years of experience in private equity and engineering, focusing on the energy value chain. Ash was a Managing Director at Centerbridge Partners and a Director at KKR. He has engineering degrees from Stanford University and the University of Mumbai and an MBA from Stanford University.
“I’m thrilled to work with KORE Power to expand the design and manufacturing of lithium-ion battery cells in the U.S.,” said Ash. “Through my experience with energy storage, I see the critical role that batteries will play in the clean energy transition. I look forward to adding value to KORE’s expert team.”
Rakesh Wilson has over 20 years of energy finance and private equity experience and is a founder and Managing Partner at Cleanhill Partners. He previously served as a Senior Partner at Apollo Global Management and led private equity investments across the energy value chain. Rakesh was also with Morgan Stanley’s Commodities Division and Goldman Sachs’ investment banking and equity research divisions. He graduated from the University of Texas at Austin and received his MBA from INSEAD, Fontainebleau, France.
“Working with KORE Power is a natural extension of my work on battery storage projects, renewable infrastructure, distributed generation, energy trading funds and carbon offsets,” said Rakesh. “The lithium-ion cell is at the center of the clean energy future, and I look forward to accelerating the clean energy transition by working with KORE.”
Evercore served as financial advisor to KORE Power and Kirkland & Ellis LLP served as legal counsel to Cleanhill Partners.
ABOUT KORE Power
KORE Power, Inc., is a leading US-based developer of battery cell technology for the clean energy industry, serving energy storage, e-mobility, utility, industrial and mission-critical markets across the globe. KORE Power designs and manufactures its proprietary NMC and LFP cells, VDA modules and packs, optimized by the battery management system. Through its global partnerships, KORE designs and manufactures top-tier energy storage systems (ESS).
KORE Power’s differentiated approach provides customers with direct access, unparalleled service, superior technology, and Tier 1 product availability. We care about building sustainable communities, clean energy jobs and green economic expansion. KORE Power is proud to offer a functional solution to real-world problems that fulfill growing market demand and contribute to a zero-carbon future. For more information, visit www.korepower.com.
ABOUT Cleanhill Partners
Cleanhill Partners is a private equity firm pursuing investments in the energy transition sector that contribute to decarbonization. We invest in scalable businesses with visibility into revenues, earnings and cash flow growth. We leverage our thesis-driven approach and our operational expertise to enhance value in each of our investments. Our long-term investment philosophy to decarbonize and create value aligns our stakeholders, our communities and the businesses we invest in. The firm has offices in New York and Houston. To learn more, please visit www.cleanhillpartners.com.
Peter Gray
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(312) 883-5044
Aleysha Newton
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(208) 758-9392
GARDEN VALLEY, Texas--(BUSINESS WIRE)--Global health charity, Mercy Ships, reports that after a completion and acceptance ceremony on June 16, followed by a handover celebration at the Tianjin Xingang shipyard this past week, the world's largest civilian hospital ship, Global Mercy™, has successfully been delivered and the charity has taken possession of their brand new vessel.
The final handover of the newly constructed hospital ship from shipyard to owners was celebrated in the presence of representatives from Mercy Ships, project managers from Stena RoRo, together with shipyard management, joined by a remote audience of Mercy Ships staff and crew from around the world. The traditional shipyard events are designed to wish happiness to the ship and its crew on the seven seas. The building phase has now been officially completed and the charity is one step closer to the first surgery onboard.
”This day is a dream come true – not only for us, but for those we serve,” stated Don Stephens, Mercy Ships founder, who spoke via video to those attending. ”African heads of states and ministers of health have often expressed a desire for more of their healthcare professionals to be trained in-country. This ship will do exactly that. Many who suffer from disability and disfigurement will have access to surgical treatment and whole-person care in healthcare systems that will enable them to reach their Godgiven potential. We hope that this new vessel and the volunteer crew who serve on her will bring hope, healing and transformation for the next 40-50 years,” he added.
Per Westling, CEO of Stena RoRo, said, "We are very proud to take delivery of this special ship. The activities to be carried out onboard have placed special and high demands on the construction of this ship. For the yard, it was the first time this type of vessel was built – a challenge that they managed very well. For Mercy Ships, delivery means that their capacity to help more than doubles. And at Stena RoRo we are happy to be a part of their fantastic work through Global Mercy.”
Mercy Ships has been working on this new ship project for more than eight years. Contracts were signed in 2013, and the keel laid in 2015. Sea trials were successfully completed in late April this year.
Equipping the world’s largest NGO hospital ship
In July, the Global Mercy is scheduled to sail to Europe where, hosted by the Port of Antwerp from early September, the ship will be further outfitted with IT and medical equipment installations and soft furnishings. Mercy Ships volunteer crew will also begin to join the ship in stages during this phase which concludes with open events in Rotterdam in Q1 2022 where the ship will be presented to sponsors, future volunteers, the media, and other interested parties. A further Africa welcome is being planned in Dakar, Senegal before the ship begins full operation.
Double the impact
It is estimated that surgical conditions account for nearly one-third of all disease in the world (Lancet 2015). Building on the charity’s more than 30 years of experience in Africa delivering surgical care, the Global Mercy is equipped with first-class training facilities designed to multiply impact within the nations served. Volunteer professionals will contribute alongside local healthcare professionals in the host country. With 12 decks, the 37,000 GRT Global Mercy is equipped with six operating theatres, hospital beds for 200 patients, a full laboratory, and simulation training areas.
A global collaboration
Swedish shipbuilders Stena RoRo have been responsible for construction supervision of this unique project. French company Barry Rogliano Salles (BRS) acted as a broker, detailed designs were completed by Deltamarin in Finland and construction has been carried out in China. The Global Mercy is classified by Lloyd's Register in the UK and sails under the Maltese flag. Many more companies from around the globe contributed to the ship’s completion which is a first of its kind.
Volunteer applications are still open
Mercy Ships is ramping up their recruitment of long and short-term volunteer professionals to lend their time and expertise in this new season. More than 640 medical, maritime, and programmatic crew will be able to live and serve onboard with space for up to 950 on ship when it is docked. Currently, Mercy Ships crew come from more than 60 nations. For more information see www.opportunities.mercyships.org.
Facts Global Mercy: |
Length: 174 meters; Width: 28.6 meters; Depth: 6.15 meters; Gross Tonnage: 37,000 grt; Deadweight: 5,448 tons; Total interior: 30,000 square meters |
About Mercy Ships
Mercy Ships uses hospital ships to deliver free, world-class healthcare services, capacity building, and sustainable development to those with little access in the developing world. Founded in 1978 by Don and Deyon Stephens, Mercy Ships has worked in more than 55 developing countries, providing services valued at more than $1.7 billion and directly benefitting more than 2.8 million people. Our ships are crewed by volunteers from over 60 nations, with an average of over 1200 volunteers each year. Professionals including surgeons, dentists, nurses, healthcare trainers, teachers, cooks, seamen, engineers, and agriculturalists donate their time and skills. With 16 national offices and an Africa Bureau, Mercy Ships seeks to transform individuals and serve nations one at a time. For more information click on www.mercyships.org
Hi-res photos and general Mercy Ships B-Roll video footage are available upon request
Laura Rebouche
U.S. National Media Relations Director Mercy Ships
Office:+1 903.939.7000
Direct:+1 903.939.7127
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www.mercyships.org
HOUSTON--(BUSINESS WIRE)--Magnolia Oil & Gas Corporation (NYSE: MGY) will host a conference call and webcast to discuss its second quarter 2021 operational and financial results on Tuesday, August 3 at 10:00 a.m. Central Time (11:00 a.m. Eastern Time).
Join the webcast by visiting Magnolia’s website at www.magnoliaoilgas.com/investors/events-and-presentations and clicking on the webcast link or by dialing 1-844-701-1059. Materials related to Magnolia’s second quarter 2021 financial results to be discussed during the webcast will be made available in the Investors section of the website prior to the call. The company will post a replay of the webcast on its website following the call.
About Magnolia Oil & Gas
Magnolia is a publicly traded oil and gas exploration and production company with operations primarily in South Texas in the core of the Eagle Ford Shale and Austin Chalk formations. Magnolia focuses on generating value for shareholders through steady production growth, strong pre-tax margins, and free cash flow. For more information, visit www.magnoliaoilgas.com.
Brian Corales
713-842-9036
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Market barriers include high upfront investment costs and proprietary battery technologies that limit industry standardization
BOULDER, Colo.--(BUSINESS WIRE)--#BaaS--A new report from Guidehouse Insights analyzes the global market for battery swapping, focusing on light EVs, light duty (LD) EVs, and heavy duty (HD) EVs. Forecasts are provided for the installed base of battery swap station deployments, batteries used in battery swapping programs, and vehicles participating in battery as a service (BaaS) through 2030. Annual revenue forecasts for BaaS and battery swapping equipment are also provided.
Although electrification appears poised to take over as the primary means to power vehicles, several key barriers, such as high upfront purchase prices and long charging times, continue to hinder mass EV adoption. Battery swapping is an emerging technology that shows strong potential to address these key barriers and greatly accelerate the adoption of EVs. According to a new report from Guidehouse Insights, battery swap station deployments are expected to grow at a compound annual growth rate (CAGR) of 40% during the next decade, with more than 454,000 stations expected to be deployed globally by 2030.
“In select markets, consumers can now purchase EVs without owning the battery and participate in a battery as a service (BaaS) monthly subscription program,” says Ryan Citron, senior research analyst with Guidehouse Insights. “Separating battery ownership from EVs could be one of the keys to accelerating the transition toward large-scale electrification of transportation markets.”
While battery swapping has tremendous potential to transform the EV industry due to the myriad of improvements it offers over existing EV ownership and operation models, the technology also faces substantial barriers to adoption. These barriers largely stem from EV manufacturers developing proprietary battery technologies, which limits industry standardization. However, several suppliers are working to address this barrier by developing modular battery swapping solutions that can be adapted to different vehicle types.
The report, Battery Swapping Markets for Transportation Applications, analyzes the global market for battery swapping, focusing on light EVs, light duty (LD) EVs, and heavy duty (HD) EVs. The study provides a detailed analysis of the market opportunities, key drivers and barriers of growth, and technology trends associated with battery swapping programs. Forecasts are provided for the installed base of battery swap station deployments, installed base of batteries used in battery swapping programs, and the installed base of vehicles participating in battery as a service (BaaS). Annual revenue forecasts for BaaS and battery swapping equipment are also provided. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges and navigate significant regulatory pressures with a focus on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that prepare our clients for future growth and success. The company has more than 10,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, Battery Swapping Markets for Transportation Applications, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
Lindsay Funicello-Paul
+1.781.270.8456
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DUBLIN--(BUSINESS WIRE)--The "Boat Building Global Market Opportunities and Strategies to 2030: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.
The global boat building market reached a value of nearly $34,757.8 million in 2020, having increased at a compound annual growth rate (CAGR) of 3.4% since 2015.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider lending market, and compares it with other markets.
The market is expected to grow from $34,757.8 million in 2020 to $48,358.0 million in 2025 at a rate of 6.8%. The market is then expected to grow at a CAGR of 5.3% from 2025 and reach $62,678.1 million in 2030.
Growth in the historic period in the boat building market resulted from rising population, increase in demand for recreational boats, low interest rates, and strong economic growth in emerging markets. The market was restrained by intense competition, weak wage growth in developed economies, and narrowing price-cost gap.
Going forward technological advances, rapid urbanization, and rise in investment in the maritime industry will drive the growth in the boat building market. Factors that could hinder the growth of the market in the future include reductions in free trade, oil price volatility, increasing maritime incidents, and coronavirus pandemic.
The boat building market is segmented by type into recreational boats, commercial boats, and military boats. The recreational boats market was the largest segment of the boat building market segmented by type, accounting for 73.8% of the total in 2020. Going forward, the recreational boats segment is expected to be the fastest growing segment in the boat building market segmented by type, at a CAGR of 7.3% during 2020-2025.
The boat building market is also segmented by propulsion into motor boats and sail boats. The motor boats market was the largest segment of the boat building market segmented by propulsion, accounting for 78.6% of the total in 2020. Going forward, the motor boats segment is expected to be the fastest growing segment in the boat building market segmented by propulsion, at a CAGR of 5.2% during 2020-2025.
The boat building market is also application into private use, commercial use, and military use. The private use market was the largest segment of the boat building market segmented by application, accounting for 51.6% of the total in 2020. Going forward, the private use segment is expected to be the fastest growing segment in the boat building market segmented by application, at a CAGR of 7.3% during 2020-2025.
North America was the largest region in the boat building market, accounting for 37.2% of the total in 2020. It was followed by the Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the boat building market will be Middle east and the Africa where growth will be at CAGRs of 9.4% and 8.6% respectively during 2020-2025. These will be followed by North America and South America, where the markets are expected to register CAGRs of 7.9% and 7.3% respectively during 2020-2025.
The boat building market is moderately fragmented with a large number of regional players dominating the market. The top ten competitors in the market made up to 20.42% of the total market in 2020. The key players in the boat building are focusing on expanding their operational and business presence in the sector through new product developments, new facility establishments to expand their production activities, distribution agreements with suppliers in the developing countries.
The key players in the boat building market includes Brunswick Boat Group, General Dynamics, Azimut-Benetti Group, Ferretti S. P. A., Correct Craft, Malibu Boats Inc., Mastercraft Boat Holdings, Marine Products Corporation, and Smoker Craft Boats.
The top opportunities in the boat building market segmented by type will arise in the recreational boats segment, which will gain $10,780.1 million of global annual sales by 2025. The top opportunities in the boat building market segmented by propulsion will arise in the motor boats segment, which will gain $11,453.7 million of global annual sales by 2025.
The top opportunities in the boat building market segmented by application will arise in the offline segment, which will gain $7,456.1 million of global annual sales by 2025. The boat building market size will gain the most in USA at $5,609.0 million.
Market-trend-based strategies for the boat building market include autonomous boats, 3d printing, application of robotics, and advanced composite materials for boat building. Player-adopted strategies in the boat building market include investing in expanding manufacturing operations, improving infrastructure and acquisitions and mergers to strengthen their service offerings.
Companies Mentioned
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LAS VEGAS--(BUSINESS WIRE)--$AGH #AP--Ault Global Holdings, Inc. (NYSE American: DPW), a diversified holding company (the “Company”), announced that its subsidiary, Coolisys Technologies Corp. (“Coolisys”), has through its subsidiary Digital Power Corporation (“DPC”) received authorization to expedite a purchase order for $1.3 million to provide comprehensive electrical and electronic systems to power radio and other classified instruments installed and operated in customized military multi-mission tactical vehicles. This customer purchase order from a defense contractor was originally to be fulfilled over a three-year period but has now been authorized to be completed this year. These vehicles are designed to serve special forces units operating in an urban warfare environment and close-quarters combat. They are designed to be airmobile, capable off-road vehicles that can handle extreme terrain in a general reconnaissance role.
The solution provided by Coolisys will include an electrical system featuring electronic hardware embedded with management software that is approved and qualified by a Foreign Military Teleprocessing Branch, after extensive testing. A defense contractor specializing in customized off-road vehicles will be implementing Coolisys’ solution in the multi-mission vehicles.
Coolisys offers a variety of power electronic products including rugged, modified, and off-the-shelf, or complete custom designs, from its in-house design team. Coolisys’ products are designed to serve mission-critical applications in the harshest environments and for lifesaving and life-sustaining applications across diverse markets.
Coolisys’ CEO, Amos Kohn, said, “We are pleased to expedite this contract from a leading global defense customer specializing in customized vehicles used by special forces units. This order is the result of the compact and cost-effective design of Coolisys’ customized rugged high-reliability power system that is currently being used in field operations.”
For more information on Ault Global Holdings and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company’s public filings with the SEC, available at www.sec.gov, and press releases available under the Investor Relations section at www.AultGlobal.com.
About Ault Global Holdings, Inc.
Ault Global Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Global Holdings’ headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.AultGlobal.com.
About Coolisys Technologies Corp.
Coolisys Technologies Corp. designs and manufactures innovative, feature-rich, and top-quality power products for mission-critical and life-sustaining applications spanning multiple sectors in the harshest environments. The diverse markets we serve include automotive, defense, aerospace, medical and healthcare, industrial, and telecommunications. Coolisys brings decades of experience to every project, working with our clients to develop leading-edge products to meet a wide range of needs. Coolisys is headquartered in Milpitas, CA; www.Coolisys.com, This email address is being protected from spambots. You need JavaScript enabled to view it. or 1‑877-634-0982
Forward-Looking Statements
This press release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.AultGlobal.com.
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United Utilities to Deploy Temetra, Itron’s Cloud-based Meter Data Collection and Management Solution, to Improve Water Delivery and Management
LIBERTY LAKE, Wash.--(BUSINESS WIRE)--#Cloud--Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, announced that it signed a contract with United Utilities to deploy Temetra, Itron’s next-generation cloud-based meter management solution, to optimize operations. With Temetra, the utility will be equipped to read 1.6 million meters to improve water delivery and management across its services in northwest England.
United Utilities will deploy Temetra to optimise its operations and improve customer engagement. With full mobile integration, Temetra will enable the utility to automate meter reading and meter reads will be securely stored on the cloud. Featuring an intuitive web-based interface and powerful mapping functionality, Temetra will equip United Utilities to modify meter data and assignments anywhere with a simple web login. The utility will use Temetra’s powerful Georouting functionality to automatically assign work to meter readers across their operating area and integrate Temetra’s appointment booking functionality with their in-house customer service systems to better respond to and serve the requests of its customers.
“With deep industry expertise, Itron is providing water utilities with the insights and technology to enhance operational efficiency and deliver reliable water service to millions of homes and businesses,” said Don Reeves, senior vice president of Outcomes at Itron. “By taking advantage of our industry-leading cloud services, United Utilities will be able to satisfy all of their current operational water data management needs to enable greater operational efficiency and customer satisfaction.”
About Itron
Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.
Itron® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.
Itron, Inc.
Alison Mallahan
Senior Manager, Corporate Communications
509-891-3802
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SOMERVILLE, Mass.--(BUSINESS WIRE)--#cooling--Infinite Cooling Inc., a technology company focused on reducing water consumption and enabling sustainable industrial cooling, today announced it has closed $12.25 million in Series A financing led by Material Impact. The company will use the funds to amplify the company’s momentum, deploy its product on large-scale facilities, and expand its growing customer base.
Using proprietary technology developed at MIT, Infinite Cooling harvests the large amounts of pure water that are produced as a by-product of cooling systems in power plants, data centers, and manufacturing facilities. This makes industrial processes more sustainable, mitigates their impact on local aquifers, and reduces operational costs. It also improves safety and reliability by capturing cooling tower plumes. For a single medium-sized power plant, this can result in over a hundred million gallons of water saved and millions of dollars in water cost savings per year. The company has already signed three contracts with industrial facilities across the US.
“Water is the lifeblood of our economy, yet today’s industrial consumption of water is no longer sustainable,” said Carmichael Roberts, Co-Founder and Managing Partner of Material Impact. “Industries are recognizing that they need to find ways of becoming less dependent on municipal sources. Infinite Cooling’s ingenious water recycling technology is the answer to the industrial sector’s water crisis, and we are already seeing the company make tremendous commercial progress with multinational companies seeking to reduce their water footprint. We are thrilled to be working closely with Infinite Cooling’s management team to achieve our shared vision of fundamentally changing the way industrial cooling is performed, for the benefit of business and our planet.”
In the US alone, close to two trillion gallons of freshwater are consumed annually in cooling towers, representing around 85 percent of all residential water consumption. Globally $30 billion is spent annually on water for cooling. Infinite Cooling was co-founded by Maher Damak, Ph.D, Karim Khalil, Ph.D, and Professor Kripa Varanasi to mitigate water scarcity by cutting water losses in the most water intensive industries. It originated in the renowned lab of Prof. Varanasi at the Massachusetts Institute of Technology (MIT).
“Power plants, data centers, refineries, and manufacturers are working with us to apply our retrofittable technology to their cooling towers,” said Kripa Varanasi, Infinite Cooling’s Co-Founder, Chairman and MIT Professor. “The huge water consumption of cooling towers has been a widespread industrial problem, and we have developed the first technology that can significantly reduce evaporative losses and reduce costs for industrial facilities.”
“We are ecstatic to continue working with the Material Impact team who shares our vision of sustainable and efficient industrial processes,” said Maher Damak, Ph.D, Co-Founder and CEO of Infinite Cooling. “Together, we have ambitious goals of scaling up our technology and having a profound impact on global water access and availability.”
About Infinite Cooling
Infinite Cooling’s mission is simple: to change the way industries around the world consume freshwater. Its WaterPanel™ technology helps power plants and other industrial processes reduce their water consumption and water treatment costs by recovering water from their cooling tower exhaust. Developed at MIT, Infinite Cooling’s technology uses electric fields to capture water from the plumes leaving cooling towers. The company is a mission-driven and growing startup based in Somerville, Massachusetts focused on becoming a global technology leader in industrial water applications. Co-founded by Maher Damak, Ph.D, Karim Khalil, Ph.D and Professor Kripa Varanasi, Infinite Cooling has won the MIT $100K, MassChallenge, the DOE National Cleantech Competition and several federal grants from DOE and NSF.
About Material Impact
Material Impact is a venture capital fund that invests in building companies which transform material technologies into products that make an impact on real world problems. Material Impact is headquartered in Boston, Massachusetts. For more information, please visit http://www.materialimpact.com.
To learn more about Infinite Cooling visit http://infinite-cooling.com
444 Somerville Ave Somerville, MA | 02143
Maher Damak
617-701-6302
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Built for the Challenge Highlights Company’s Resiliency, Responsible Operations and Response to COVID-19
HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) today published its 2020 Corporate Responsibility (CR) report, titled Built for the Challenge. The report details Cheniere’s strategy and progress on environmental, social and governance (ESG) issues, and highlights the company’s resiliency, responsible actions and response during a period overshadowed by the global COVID-19 pandemic. The report also spotlights Cheniere’s recent efforts on integrating climate considerations into its business strategy and taking a leadership position on increased environmental transparency, including conducting a climate scenario analysis aligned with TCFD recommendations, and announcing the company’s plan to provide LNG customers with Cargo Emissions Tags.
“For Cheniere, 2020 will be remembered as a year when our business and people were tested like no other and proved that we really are Built for the Challenge,” said Jack Fusco, Cheniere’s President and Chief Executive Officer. “Whether it was keeping our workplace safe and healthy during the COVID-19 pandemic and multiple hurricanes, addressing Diversity, Equity and Inclusion, or taking action on integrating climate into our platform, 2020 was a year of remarkable progress and triumph in the face of significant challenges.”
Built for the Challenge is online at cheniere.com/IMPACT
The report aligns with recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), the Sustainable Accounting Standards Board (SASB) and other leading reporting standards. It documents Cheniere’s progress across six focus areas – Climate, Environment, Team, Health and Safety, Community and Governance. It also includes three global issue features on the energy transition; Diversity, Equity and Inclusion; and Cheniere’s COVID-19 response. Highlights from the report include:
Built for the Challenge builds on Cheniere’s inaugural CR report published last year -- First and Forward – and the company’s overall efforts to continually benchmark and assess Cheniere’s actions on key ESG issues. For more information, please visit cheniere.com.
About Cheniere
Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with expected total production capacity of approximately 45 million tonnes per annum of LNG operating or under construction. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.
For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, filed with the Securities and Exchange Commission.
Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements” within the meanings of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere’s financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding expectations regarding regulatory authorizations and approvals, (iii) statements expressing beliefs and expectations regarding the development of Cheniere’s LNG terminal and pipeline businesses, including liquefaction facilities, (iv) statements regarding the business operations and prospects of third parties, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entry into contracts, (vii) statements relating to the amount and timing of share repurchases, and (viii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere’s periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.
Investors
Randy Bhatia, 713-375-5479
Media Relations
Eben Burnham-Snyder, 713-375-5764
Jenna Palfrey, 713-375-5491
DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today announced (1) recent upgrades by S&P Global Ratings (“S&P”) to the Company’s corporate credit rating and senior unsecured notes and (2) the closing of an amendment to the credit facility of its midstream affiliate, San Mateo Midstream, LLC (“San Mateo”), providing for increased lender commitments.
Matador’s Credit Rating and Senior Unsecured Notes Upgraded by S&P Global Ratings
Matador is pleased to announce that on June 28, 2021 S&P raised Matador’s issuer credit rating from ‘B-’ to ‘B’ and raised the issue-level rating on Matador’s senior unsecured notes from ‘B’ to ‘B+’. In its June 28, 2021 press release, S&P noted, “We expect credit measures to improve on a sustained basis for Matador Resources Co., a Dallas-based crude oil and natural gas exploration and production (E&P) company, based on our revised commodity price assumptions, the Company’s disciplined capital spending program, and recent debt repayments.” More information regarding S&P’s upgrade of Matador may be found at www.spglobal.com/ratingsdirect.
Lender Commitments Increased Under San Mateo’s Revolving Credit Facility
Matador is also pleased to announce a $75 million increase in the lender commitments under San Mateo’s revolving credit facility (the “San Mateo Credit Facility”) from $375 million to $450 million. San Mateo is the Company’s midstream joint venture owned 51% by Matador and 49% by Five Point Energy LLC.
In addition to increasing their commitments in the San Mateo Credit Facility from $375 million to $450 million, the lenders also agreed to refresh and increase the San Mateo Credit Facility’s accordion feature to $250 million. This accordion feature could expand lender commitments to up to $700 million.
At March 31, 2021, San Mateo had $334 million in aggregate borrowings outstanding under the San Mateo Credit Facility and $9 million in outstanding letters of credit issued pursuant to the San Mateo Credit Facility. For accounting purposes, all borrowings outstanding under the San Mateo Credit Facility and all interest payments made pursuant thereto are recorded at 100% of their carrying value in the Company’s consolidated financial statements, even though the San Mateo Credit Facility is non-recourse to Matador.
Joseph Wm. Foran, Matador’s Chairman and CEO, commented, “We are very pleased with S&P’s upgrades to our corporate and issue-level credit ratings, which reflect our ongoing commitment to repaying debt and strengthening our balance sheet. We are also very pleased by the $75 million increase in lender commitments to San Mateo’s credit facility, which should provide our midstream joint venture with greater operating and financial flexibility. We greatly value the strong relationships we enjoy with our lenders, which have been pivotal to the growth and success of both Matador and San Mateo over many years. We wish to express our sincere appreciation to all of the institutions comprising our banking groups for their continued confidence and support, and we look forward to working together with each of them as we grow and build value for our shareholders and bondholders.”
About Matador Resources Company
Matador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, Matador conducts midstream operations, primarily through its midstream joint venture, San Mateo, in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and produced water gathering services and produced water disposal services to third parties.
For more information, visit Matador Resources Company at www.matadorresources.com.
Forward-Looking Statements
This press release includes “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” are statements related to future, not past, events. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “could,” “believe,” “would,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “should,” “continue,” “plan,” “predict,” “potential,” “project,” “hypothetical,” “forecasted” and similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such forward-looking statements include, but are not limited to, statements about guidance, projected or forecasted financial and operating results, future liquidity, the payment of dividends, results in certain basins, objectives, project timing, expectations and intentions, regulatory and governmental actions and other statements that are not historical facts. Actual results and future events could differ materially from those anticipated in such statements, and such forward-looking statements may not prove to be accurate. These forward-looking statements involve certain risks and uncertainties, including, but not limited to, the following risks related to financial and operational performance: general economic conditions; the Company’s ability to execute its business plan, including whether its drilling program is successful; changes in oil, natural gas and natural gas liquids prices and the demand for oil, natural gas and natural gas liquids; its ability to replace reserves and efficiently develop current reserves; costs of operations; delays and other difficulties related to producing oil, natural gas and natural gas liquids; delays and other difficulties related to regulatory and governmental approvals and restrictions; its ability to make acquisitions on economically acceptable terms; its ability to integrate acquisitions; availability of sufficient capital to execute its business plan, including from future cash flows, increases in its borrowing base and otherwise; weather and environmental conditions; the impact of the worldwide spread of the novel coronavirus, or COVID-19, on oil and natural gas demand, oil and natural gas prices and its business; the operating results of the Company’s midstream joint venture’s Black River cryogenic natural gas processing plant; the timing and operating results of the buildout by the Company’s midstream joint venture of oil, natural gas and water gathering and transportation systems and the drilling of any additional produced water disposal wells; and other important factors that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. For further discussions of risks and uncertainties, you should refer to Matador’s filings with the Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of Matador’s most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. Matador undertakes no obligation to update these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by law, including the securities laws of the United States and the rules and regulations of the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
Mac Schmitz
Capital Markets Coordinator
(972) 371-5225
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First hybrid cloud solution for the OSDU™ Data Platform—the industry standard for energy data—is ready for customer deployment
LONDON & ARMONK, N.Y.--(BUSINESS WIRE)--Schlumberger and IBM announced today the industry’s first commercial hybrid cloud Enterprise Data Management Solution for the OSDU Data Platform. The hybrid cloud offering is designed to expand access to customers globally—including those in locations where data residency requirements and local regulations may affect the use of global public cloud—and is engineered to reduce time for analysis and accelerate decision-making, with all workflow data available in one place.
This solution will provide energy operators with full interoperability, making their data accessible by any application within their exploration to production (E&P) environment through the OSDU common data standard to enable easy sharing of information between teams. This data solution is engineered to minimize the time for data transfers between applications to deliver reduced costs as well as enabling improved decision making.
“As momentum grows for the OSDU Data Platform, we are offering the industry’s first commercial hybrid cloud Enterprise Data Management Solution to leverage its advanced capabilities to help customers in all regions make faster decisions and optimize operational efficiency,” said Rajeev Sonthalia, president Digital & Integration, Schlumberger. “Our solution was developed to accelerate digitalization for all by enabling data to be connected and managed at an unprecedented scale, empowering AI and data analytics workflows that deliver new insights for operators to help drive increased production, cost optimization, and improved business performance.”
“This collaboration is a game changer for energy operators to drive higher performance and greater efficiencies by now enabling integrated workflows and innovation using AI. The hybrid cloud solution allows clients to maintain the sovereignty of their data and also gives them options as to how they choose to leverage the solution, with the freedom to deploy on a range of infrastructures or a regional cloud provider,” said Manish Chawla, global industry managing director, energy, resources and manufacturing, IBM. “Open Data for Industries on Cloud Pak for Data is one of the key technologies which enables the OSDU solution deployment for Schlumberger.”
The collaboration builds on the work between Schlumberger and IBM to leverage the Red Hat OpenShift Container Platform for deployment of the DELFI* cognitive E&P environment in all regions, worldwide. The solution will be offered by Schlumberger; all transition and managed services will be provided by Schlumberger and IBM Services. Schlumberger is an IBM ecosystem partner, and since the initial announcement the two companies have made significant advancements to engage customers in focus regions around the world, including the Middle East.
About Schlumberger
Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, we collaborate to create technology that unlocks access to energy for the benefit of all.
Find out more at www.slb.com.
About Red Hat
Red Hat is the world's leading provider of enterprise open source software solutions, using a community-powered approach to deliver reliable and high-performing Linux, hybrid cloud, container, and Kubernetes technologies. Red Hat helps customers integrate new and existing IT applications, develop cloud-native applications, standardize on our industry-leading operating system, and automate, secure, and manage complex environments. Award-winning support, training, and consulting services make Red Hat a trusted adviser to the Fortune 500. As a strategic partner to cloud providers, system integrators, application vendors, customers, and open source communities, Red Hat can help organizations prepare for the digital future.
About IBM
IBM combines technology with industry expertise to help Oil & Gas clients digitally reinvent their businesses for resilience and sustainability. Pioneering advances in materials science from IBM Research accelerate energy transition. Data science and AI take the guesswork out of exploration. Predictive asset management raises production throughput. Supply chain insights and blockchain build trust and transparency across the downstream ecosystem. Customer experience experts reshape consumer connections at the gas pump or electric charge station. Through these solutions IBM helps Oil & Gas clients emerge smarter. For further information visit: https://www.ibm.com/industries/oil-gas
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, digital technologies. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits from digital strategies, initiatives or partnerships; and other risks and uncertainties detailed in our most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. Statements in this press release are made as of the date of this release, and Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events, or otherwise.
*Mark of Schlumberger.
Media
Giles Powell – Director of Corporate Communication, Schlumberger Limited
Tel: +1 (713) 375-3494
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Ken Saunders – External Relations, IBM
Tel: +44 7887 830036
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Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Tel: +1 (713) 375-3535
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Climate Tech Start-Ups Pilot Dual Use of Electric Car for Transportation and Electric Grid Back-up
NEW HOPE, Pa.--(BUSINESS WIRE)--#EV--Electric Frog Company, a climate-tech start-up, announced today that it has provided free use of a Nissan LEAF electric vehicle (EV) to the Burrillville Wastewater Treatment Facility in Rhode Island, in a first use of a customer vehicle to support the New England electric grid. When not in use by Burrillville employees the EV is plugged into a state-of-the-art Fermata Energy bidirectional charger and monitored by their energy management software to transfer power back to the grid on 24-hour notice to help meet peak demand.
“This is a unique effort to use an EV to help supply grid power on call,” said John Isberg, Vice President of Customer Sales and Solutions at National Grid. “We welcome this significant step toward a smarter, cleaner and more reliable electric grid of the future.” National Grid, which serves large parts of New England and New York, offers an incentive in Rhode Island and Massachusetts for customer batteries under their ConnectedSolutions program. The incentive amount is based on the amount of power delivered to the grid during times of peak demand on hot summer afternoons.
“My team is excited to try out the electric car and I am pleased to be part of this innovative pilot,” said Michael Emond, Superintendent of the Burrillville Wastewater Treatment Facility.
“This is the future,” said Brent Alderfer, Founder and CEO of the Electric Frog Company. “It is very exciting to be able to offer an economic electric vehicle to the customer and electric grid reliability to the utility. This is the long-promised ‘vehicle to grid’ advantage at work for the consumer and the environment.”
“Through this partnership we will make EVs affordable for all drivers and we are confident that we will accelerate the adoption of EVs along with the transition to renewable energy on the grid,” said David Slutzky, Founder and CEO of Fermata Energy. “We are excited to see our V2X operations at work in Burrillville.”
To allow charging of the electric vehicle for ordinary use and discharge power back to the utility grid on demand, Electric Frog partnered with vehicle-to-grid (V2G) market leader Fermata Energy to install its bidirectional charger and proprietary vehicle-to-everything (V2X) software to manage charging of the EV at the Burrillville facility and deliver power on call to the utility.
About Electric Frog Company
Electric Frog Company is a climate-tech company accelerating the use of electric vehicles and electrification technologies for customer and climate-change benefits. The company was founded by Brent Alderfer, the energy entrepreneur who co-founded long-time renewable energy developer Community Energy, Inc. www.electricfrog.com. Twitter (@electricfrogco), LinkedIn, and Facebook.
About Fermata Energy
Fermata Energy’s turnkey V2X system makes it possible for EVs to combat climate change, increase energy resilience, and reduce energy costs. For more information, visit www.fermataenergy.com, and follow us on Twitter (@FermataEnergy), LinkedIn, Facebook, and Instagram (@fermata__energy).
About National Grid Company
National Grid (NYSE: NGG) is an electricity, natural gas, and clean energy delivery company serving more than 20 million people through our networks in New York, Massachusetts, and Rhode Island. National Grid is transforming our electricity and natural gas networks with smarter, cleaner, and more resilient energy solutions to meet the goal of reducing greenhouse gas emissions. As part of our commitment to a clean energy future, National Grid is a Principal Partner for COP26, the UN global climate summit, which will be located in the UK in November 2021.
For more information, please visit our website, follow us on Twitter, watch us on YouTube, like us on Facebook, and find our photos on Instagram.
R Brent Alderfer
Electric Frog Company
215-353-1373
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Daniel Cherrin
Fermata Energy
313-300-0932
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BOSTON--(BUSINESS WIRE)--#BuildBackGreener--Schneider Electric, the global leader in the digital transformation of energy management and automation and #1 builder of microgrids in the world, and the Footprint Project, a Minnesota-based non-profit organization committed to providing rapidly deployable clean energy for communities in crisis, announced their partnership to help bring power to people and communities impacted by weather and climate disasters by mobilizing microgrids.
As climate emergencies and disasters become more frequent, collapsing energy infrastructures threaten the safety and welfare of citizens. When disaster strikes and emergency teams are deployed to bring power back online, communities need immediate, resilient solutions. Through the mobilization of small microgrids, both solar and battery powered, Footprint Project and Schneider Electric will work together to power first response and early recovery to local communities via reliable electricity resources for personal, medical and communication needs. The microgrid solutions will bring power back to people across the U.S. in crisis and build back greener, mobilizing cleaner energy.
“Schneider Electric is committed to working with strategic partners who better our community. Footprint Project is the perfect partner to help us bring environmentally and financially sustainable mobile microgrids to communities that need it most,” said Tom Pitts, Safety and Environment Director of Sustainable Development for Schneider Electric. “As disasters continue to impact people around the world, our hope is that by building communities back greener, we can create long-term resilient solutions to give a sense of relief to those reeling from the unexpected.”
The Footprint Project works through mutual aid and volunteer groups to mobilize gently used, portable microgrids and other clean energy technology to respond quickly, creating mobile infrastructure for communities in need. Since its founding, the organization has deployed 45+ kw of mobile solar and 170+ kWh of mobile battery storage to 10+ disaster response and recovery missions which has provided emergency clean power access to 14,000+ U.S. citizens.
“We are thrilled to be working with Schneider Electric to provide solutions for those in critical need. Through their dedication of funds, time, equipment, and storage space, we will be able to mobilize in new areas and help reach more people in need when disaster strikes, while providing cleaner, resilient solutions,” said Will Heegaard, Founder and Operations Director for Footprint Project. There is an excess of communities in need, and Footprint, along with local advocates, aim to help. “Volunteers believe in this so much, they take it upon themselves to help mobilize solutions and triage resources,” Heegaard added.
Schneider Electric has so far donated $50,000 as a leading benefactor for the Footprint organization and is working on a new project to donate a solar photovoltaic (PV) inverter for a solar trailer build that will take place this August in Tennessee. Schneider smart grid experts aim to volunteer hours for this and parallel efforts for fixing and maintaining additional trailers that Footprint owns. Further, the teams plan to not only store these trailers at various Schneider facilities, but also to pre-stage them for natural disasters out of the normal impact zones, providing readiness solutions to help mobilize Footprint microgrids more quickly and efficiently, and supporting the shared goal to develop a standardized fleet of equipment that can be offered and maintained in crisis as well as during "blue sky events".
For more information about Schneider Electric's microgrid solutions, please visit www.schneider-electric.us/microgrid. For more information about Footprint Project’s recent work for communities in crisis, please visit www.footprintproject.org.
About Footprint Project
Footprint Project is a 501(c)3 non-profit disaster service organization that develops and deploys solar generator networks to empower community resilience. We work across the disaster management cycle to expand frontline access to cleaner technologies and reduce fossil fuel use in the field. Since 2018, we’ve mobilized solar generators to 10+ disaster response and recovery missions, providing emergency power access to 14,000+ US citizens.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, endpoint to cloud connecting products, controls, software, and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure, and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Schneider Electric is the #1 builder of microgrids in the world, with over 300 successful projects deployed across the U.S.
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Schneider Electric Media Relations – Vicki True; 774-613-1158; This email address is being protected from spambots. You need JavaScript enabled to view it.
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DAVIDSON, N.C.--(BUSINESS WIRE)--Ingersoll Rand Inc. (NYSE:IR), a global provider of mission-critical flow creation and industrial solutions, is pleased to appoint two company executive leadership positions. Elizabeth “Liz” Meloy Hepding is named senior vice president, business development, and Kate Keene is promoted to senior vice president, human resources, talent, and diversity, equity and inclusion. Both Hepding and Keene will report to Vicente Reynal, president and chief executive officer of Ingersoll Rand, as part of his executive leadership team and be based in Davidson, N.C.
As senior vice president of business development, Hepding will oversee business development strategy, sourcing, execution, and integration, including mergers, acquisitions, divestitures, restructurings, joint ventures and strategic partnerships. Her appointment will be effective July 19 and she will relocate from Chicago to Davidson, N.C.
With more than 20 years of strategy, M&A and corporate development experience, Hepding joins Ingersoll Rand from PurposeBuilt Brands where she served as vice president of corporate development since 2019 and guided the company’s expansion through acquisitions. Prior to that, she was senior vice president, strategy and corporate development at Essendant Inc., where she was responsible for all acquisitions, divestitures and partnerships, and led the execution of Essendant’s sale to Staples. She began her career in investment banking, spending more than a decade in the industry, primarily at UBS Investment Bank where she held roles of increasing responsibility.
“Liz’s vast experience in business development strategy and M&A, with expertise in target identification, pipeline generation and negotiations, combined with her broad industry experience across many sectors including industrial manufacturing makes her a strong fit for Ingersoll Rand,” said Reynal. “She brings further leadership in integration planning and executing key strategic initiatives – both of which are areas where Ingersoll Rand is known for delivering on our commitments to stockholders and generating near and long-term value. We welcome Liz to the team, and I am confident she will offer valuable guidance and counsel, and help deliver growth for our company.”
Effective immediately, Keene will lead the global strategy for all human resources, talent and organization capability, and diversity, equity and inclusion for Ingersoll Rand. She will serve as a key member of the executive management team, and will provide counsel to the executive team on important matters such as organizational design and talent decisions. She succeeds Craig Mundy who is retiring in early 2022 after 15 years with the company to spend time with family and focus on his national and community board appointments. Mundy will help with the transition and special projects until his retirement.
In her most recent role, Keene served as an HR business partner for the company’s global Precision and Science Technologies segment as well as led the North America region HR team. She joined Ingersoll Rand in 2016 as director of HR for corporate functions and then led a global HR team supporting the Fluid Management, Material Handling and Power Tools business units, where she aligned HR strategies and processes to the most pressing business needs. In addition to Ingersoll Rand, Keene has nearly 20 years of experience in human resources leadership positions at GE and Sabic. She received her bachelor’s degree in business administration and management from Pennsylvania State University.
“Promoting Kate from within the company is a testament to Ingersoll Rand’s proven approach to diversity and leadership talent development, succession and deployment, which is a key tenet of our strategy,” Reynal noted. “Kate and Craig have worked together for several years which will provide an advantage for a swift and seamless transition. On behalf of everyone at Ingersoll Rand, I thank Craig for his contributions to the company and wish him well in retirement. He has been instrumental in developing our company Purpose, Values and culture, and instilling his leadership for strategically managing talent as a way to drive business performance. Craig tirelessly worked to build our new Ingersoll Rand with inspired teams, talented and capable employees and improved offerings and capabilities within our global HR function, and Kate will build on the foundation Craig has developed.”
About Ingersoll Rand Inc.
Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to helping make life better for our employees, customers and communities. Customers lean on us for our technology-driven excellence in mission-critical flow creation and industrial solutions across 40+ respected brands where our products and services excel in the most complex and harsh conditions. Our employees develop customers for life through their daily commitment to expertise, productivity and efficiency. For more information, visit www.IRCO.com.
Media:
Misty Zelent
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Investors:
Christopher Miorin
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World's largest freight-tech startups link networks, providing seamless, automated shipping experience across land, sea and air
SEATTLE & SAN FRANCISCO--(BUSINESS WIRE)--Convoy, the nation’s most efficient digital freight network, and Flexport, the platform for global logistics, announced a long-term, strategic partnership to bring end-to-end shipment automation across land, sea and air. The partnership draws on Flexport’s international client base and Convoy’s North American carrier network to provide customers with seamless logistics services while expanding business capabilities for both companies through a new shared data exchange that seamlessly integrates shipments across both platforms.
Traditionally, it’s been a challenge for shippers to track shipments across a patchwork of logistics providers and digital solutions, as their freight moves from international to domestic endpoints (e.g., distribution centers).
Through this partnership, customers will be able to move their goods via international and domestic transportation, all through the Flexport platform. Capturing all communication, data and reporting in one place will yield greater operational efficiencies, provide customers with an end-to-end view of their supply chain, and help them better understand total landed cost from purchase order to inception to final delivery. With comprehensive knowledge of their supply chain spend, customers can make more informed and dynamic decisions to ensure their freight gets to where it needs to be as efficiently, and with as much flexibility, as possible.
“This partnership represents a shift in the logistics ecosystem, fueled by an increase in collaboration and visibility, thanks to technology,” said Ryan Petersen, CEO and Founder of Flexport. “We’re thrilled to work with Convoy to make what has historically been a complex, fragmented industry more connected and in doing so, progress in our mission to make shipping easier for everyone.”
Dan Lewis, CEO and Co-Founder of Convoy, added, “This partnership creates a more seamless experience for shippers, and advances a vision long-shared by Convoy and Flexport that technology will create efficiencies and bring flexibility to the supply chain.”
Through a multi-phased approach to achieve full system integration, both companies have committed to contributing to the centralized platform, which will provide competitive and complete end-to-end solutions while reducing friction and improving service delivery. Under the partnership:
This announcement comes at a crucial time, with shippers responding to unprecedented global trade challenges across land, sea and air. The partnership builds on Convoy and Flexport’s existing, strong collaborations to deliver enhanced visibility and improved customer service to international shippers while reducing waste in the supply chain. The two technology companies first collaborated in 2018 with Flexport’s adoption of Convoy’s self-serve shipper platform for transactional freight. Over time, Convoy developed dedicated support for Flexport to deploy Convoy’s technology and services for both contractual and non contractual freight, for both drop and hook and live loads. In turn, Convoy has adopted Transmission to communicate with Flexport's internal operations teams and clients, ultimately providing a seamless experience and end-to-end supply chain visibility.
About Convoy
Convoy is the nation’s most efficient digital freight network. We move thousands of truckloads around the country each day through our optimized, connected network of carriers, saving money for shippers, increasing earnings for drivers, and eliminating carbon waste for our planet. We use technology and data to solve problems of waste and inefficiency in the $800B trucking industry, which generates over 87 million metric tons of wasted CO2 emissions from empty trucks. Fortune 500 shippers like Anheuser-Busch, P&G, Niagara, and Unilever trust Convoy to lower costs, increase logistics efficiency, and achieve environmental sustainability targets.
About Flexport
We believe trade can move the human race forward. That’s why it’s our mission to make global trade easy for everyone. Flexport is building the platform for global logistics—empowering buyers, sellers and their logistics partners with the technology and services to grow and innovate. Today, companies of all sizes—from emerging brands to Fortune 500s like Georgia-Pacific, Sonos and Bombas—use Flexport technology to move more than $10B of merchandise across 112 countries every year.
Convoy Media Contact
Sam Hallock
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(425) 241-8954
Flexport Media Contact
Cate DeBenedictis
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(415) 497-2603
NEW YORK & OSLO, Norway--(BUSINESS WIRE)--Alussa Energy Acquisition Corp. (“Alussa Energy”) (NYSE: ALUS) and FREYR AS (“FREYR”) announced today that they expect to close their proposed business combination on Friday, July 9, 2021, assuming Alussa Energy receives shareholder approval at the Extraordinary General Meeting of Alussa Energy shareholders (the “Special Meeting”) to be held on Wednesday, June 30, 2021. Following closing, the combined company’s stock and warrants are expected to trade under the ticker symbols “FREY” and “FREY.WS”, respectively, starting on Thursday, July 8, 2021.
The Special Meeting to approve, among other items, the proposed business combination, will be held on June 30, 2021 at 10:00 a.m., Eastern Time, via a virtual meeting at the following address: https://www.cstproxy.com/alussaenergy/2021.
Alussa Energy Shareholder Vote
Alussa Energy’s shareholders of record at the close of business on April 30, 2021 are entitled to receive notice of the Special Meeting and to vote their Alussa ordinary shares at the Special Meeting. The meeting will be a completely virtual meeting of shareholders and will be conducted via live webcast. At the Special Meeting, shareholders will be asked to approve and adopt the business combination and such other proposals as disclosed in the definitive proxy statement/prospectus included in the Registration Statement. If the business combination is approved by Alussa Energy shareholders, Alussa Energy anticipates closing the business combination on July 9, 2021, subject to the satisfaction or waiver (as applicable) of all other closing conditions.
The Special Meeting will take place at 10:00 a.m., Eastern Time, on June 30, 2021 via a virtual meeting at the following address: https://www.cstproxy.com/alussaenergy/2021. Investors who hold Alussa Energy’s ordinary shares in “street name” or in a margin or similar account, which means that the shares are held of record by a broker, bank or nominee, should contact their broker, bank or nominee to ensure that votes related to the shares they beneficially own are properly counted. In this regard, they must instruct their broker, bank or other nominee how to vote the shares they beneficially own in accordance with the voting instruction form they receive from their broker, bank or other nominee. If they wish to virtually attend the Special Meeting and vote, they must contact their broker, bank or other nominee to obtain a legal proxy and instructions on the procedures to be followed. Beneficial investors who own their investments through a bank or broker and wish to attend the meeting will have needed to contact Continental Stock Transfer & Trust Company to receive a control number at least 72 hours before the Alussa Special Meeting. Alussa Energy recommends that its shareholders wishing to vote at the Special Meeting log in at least 15 minutes before the Special Meeting start time. Please note that Alussa Energy shareholders will not be able to attend the Special Meeting in person. Alussa Energy encourages its shareholders entitled to vote at the Special Meeting to vote their shares via proxy in advance of the Special Meeting by following the instructions on the proxy card.
As announced previously, the business combination is to be effected through a newly created holding company, FREYR Battery (“FREYR Battery”). Alussa Energy will become a wholly-owned subsidiary of FREYR Battery, and the legacy business of FREYR (other than FREYR’s wind business) will be operated by a wholly-owned subsidiary of FREYR Battery upon the consummation of the transaction. FREYR Battery’s ordinary shares and warrants are expected to be traded on the New York Stock Exchange under the new symbols “FREY” and “FREY.WS”, respectively. At the closing of the business combination, each Alussa Energy unit will separate into its components consisting of one Alussa Energy ordinary share and one-half of one warrant and, as a result, will no longer trade as a separate security.
About Alussa Energy Acquisition Corp.
Alussa Energy is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While Alussa Energy may pursue an acquisition opportunity in any industry or sector, Alussa Energy intends to focus on businesses across the entire global energy supply chain. For more information, please visit www.alussaenergy.com.
About FREYR AS
FREYR plans to develop up to 43 GWh of battery cell production capacity by 2025 to position the company as one of Europe’s largest battery cell suppliers. The facilities will be located in the Mo i Rana industrial complex in Northern Norway, leveraging Norway’s highly skilled workforce and abundant, low-cost renewable energy sources from hydro and wind in a crisp, clear and energized environment. FREYR will supply safe, high energy density and cost competitive clean battery cells to the rapidly growing global markets for electric vehicles, energy storage, and marine applications. FREYR is committed to supporting cluster-based R&D initiatives and the development of an international ecosystem of scientific, commercial, and financial stakeholders to support the expansion of the battery value chain in our region. For more information, please visit www.freyrbattery.com.
Forward-Looking Statements
This press release contains, and certain oral statements made by representatives of Alussa Energy and FREYR and their respective affiliates, from time to time may contain, “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Alussa Energy’s, FREYR Battery’s and FREYR’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, expectations with respect to the shareholder approval of the business combination, the listing of FREYR Battery’s common stock and warrants on the New York Stock Exchange, the production of clean and cost-effective batteries, the plan to deliver 43 GWh of next-generation battery cell manufacturing capacity in Norway by 2025, the ability to leverage the Nordic region’s developing battery ecosystem and the closing of the business combination shortly after the Special Meeting. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside the control of Alussa Energy, FREYR Battery or FREYR and are difficult to predict. Factors that may cause such differences include, but are not limited to: the inability to consummate the transaction due to failure to obtain approval of the shareholders of Alussa Energy; the inability to obtain the listing of FREYR Battery’s common stock and warrants on the New York Stock Exchange following the transaction; the failure of capital to be delivered in the business combination; the risk that the transaction disrupts current plans and operations as a result of the announcement and consummation of the transaction; the inability to recognize anticipated benefits of the proposed business combination; the possibility that Alussa Energy, FREYR Battery or FREYR may be adversely affected by other economic, business, and/or competitive conditions that might lead to, among other things, a failure to develop clean and cost-effective batteries, deliver on the targeted battery cell manufacturing capacity, leverage Norway’s perceived advantages in battery production and build collaborations with customers in the transportation and energy markets; and other risks and uncertainties identified in the registration/proxy statement relating to the transaction, including those under “Risk Factors” therein, and in other filings with the SEC made by Alussa Energy, FREYR Battery and FREYR. Alussa Energy, FREYR Battery and FREYR caution that the foregoing list of factors is not exclusive, and caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. None of Alussa Energy, FREYR Battery or FREYR undertakes or accepts any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law.
No Offer or Solicitation
This press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities pursuant to the transaction or otherwise, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
No Assurances
There can be no assurance that the transaction will be completed, nor can there be any assurance, if the transaction is completed, that the potential benefits of combining the companies will be realized.
Information Sources; No Representations
This press release has been prepared for use by Alussa Energy, FREYR Battery and FREYR in connection with the transaction. The information herein does not purport to be all-inclusive. The information herein is derived from various internal and external sources, with all information relating to the business, past performance, results of operations and financial condition of Alussa Energy was derived entirely from Alussa Energy and all information relating to the business, past performance, results of operations and financial condition of FREYR and FREYR Battery was derived entirely from FREYR. No representation is made as to the reasonableness of the assumptions made with respect to the information herein, or to the accuracy or completeness of any projections or modeling or any other information contained herein. Any data on past performance or modeling contained herein is not an indication as to future performance.
No representations or warranties, express or implied, are given in respect of this press release. To the fullest extent permitted by law in no circumstances will Alussa Energy, FREYR Battery or FREYR, or any of their respective subsidiaries, affiliates, shareholders, representatives, partners, directors, officers, employees, advisors or agents, be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from the use of this press release, its contents (including without limitation any projections or models), any omissions, reliance on information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith, which information relating in any way to the operations of FREYR or FREYR Battery has been derived, directly or indirectly, exclusively from FREYR and has not been independently verified by Alussa Energy. Neither the independent auditors of Alussa Energy nor the independent auditors of FREYR or FREYR Battery audited, reviewed, compiled or performed any procedures with respect to any projections or models for the purpose of their inclusion in this press release and, accordingly, neither of them expressed any opinion or provided any other form of assurances with respect thereto for the purposes of this press release.
Important Information about the Transaction and Where to Find It
In connection with the transaction, Alussa Energy and FREYR Battery have filed and will file relevant materials with the SEC, including a Form S-4 registration statement filed by FREYR Battery on March 26, 2021 and amended on May 7, May 27, and June 9, 2021 (the “S-4”), which includes a prospectus with respect to FREYR Battery’s securities to be issued in connection with the proposed business combination (the “Prospectus”) and a proxy statement (the “Proxy Statement”) with respect to Alussa Energy’s shareholder meeting at which Alussa Energy’s shareholders will be asked to vote on the proposed business combination and related matters. ALUSSA ENERGY SHAREHOLDERS AND OTHER INTERESTED PERSONS ARE ADVISED TO READ THE S-4 AND THE AMENDMENTS THERETO AND OTHER INFORMATION FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTION, AS THESE MATERIALS WILL CONTAIN IMPORTANT INFORMATION ABOUT ALUSSA ENERGY, FREYR Battery, FREYR AND THE TRANSACTION. The S-4 was declared effective on June 14, 2021. The definitive Proxy Statement and other relevant materials for the transaction have been mailed to shareholders of Alussa Energy as of April 30, 2021. The preliminary S-4 and Proxy Statement, the final S-4 and definitive Proxy Statement and Prospectus and other relevant materials in connection with the transaction, and any other documents filed by Alussa Energy with the SEC, may be obtained free of charge at the SEC’s website (www.sec.gov) or by writing to Alussa Energy Acquisition Corp. at c/o PO Box 500, 71 Fort Street, Grand Cayman KY1-1106, Cayman Islands.
Participants in Solicitation
Alussa Energy, FREYR Battery and FREYR and their respective directors, executive officers and employees and other persons may be deemed to be participants in the solicitation of proxies from the holders of Alussa Energy ordinary shares in respect of the proposed transaction. Alussa Energy shareholders and other interested persons may obtain more detailed information regarding the names and interests in the transaction of Alussa Energy’s directors and officers in Alussa Energy’s and FREYR Battery’s filings with the SEC, including when filed, the S-4 and the Proxy Statement. These documents can be obtained free of charge from the sources indicated above.
Source: FREYR Battery
For Alussa Energy:
Chi Chow
Investor Relations
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Tel: (+1) 929-303-6514
For FREYR:
Jeffrey Spittel
Vice President, Investor Relations
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Tel: (+1) 281-222-0161
Harald Bjørland
Investor Relations
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Tel: (+47) 908 58 221
Data-driven water conservation software provider Banyan Water achieves milestone as record-breaking droughts threaten regional water supplies
AUSTIN, Texas--(BUSINESS WIRE)--Banyan Water, the leading provider of data-driven water conservation software for the built environment, announced today it has saved 4 billion gallons of water for enterprises since its inception, with 530 million gallons conserved and $36 million in asset value created in 2020.
Banyan released its water savings achievement as the southwestern U.S. faces a historic drought, with more states today experiencing exceptional drought conditions than in the past two decades, according to the U.S. Drought Monitor. Amid severe dryness, plunging water reserves and lower-than-average precipitation, Banyan is the only total water management solution spearheading effective, enterprise-level water conservation by decreasing consumption and mitigating risks that lead to unnecessary water loss.
“We’ve reached a critical tipping point for water conservation as worsening droughts grip the nation and cities confront strained resources, aging water infrastructures, rising water rates and population growth,” said Gillan Taddune, CEO of Banyan. “Water is a finite resource. We can’t wait until we run out to create meaningful change in water management. If enterprise leaders don’t take responsible action now, they risk dangerous consequences that could last for generations. Banyan Water is proud to deploy intelligent water software solutions that have saved 4 billion gallons of water for our customers.”
Using IoT-enabled, SaaS-based water technologies—such as Banyan Water Central, a total water management platform—Banyan analyzes real-time data to monitor water usage and pinpoint hidden anomalies. It detected 505 irrigation leaks in 2020 alone, saving $1.75 million.
To learn more about Banyan and how to take control of your property’s water usage, visit www.banyanwater.com.
About Banyan Water
Founded in 2011, Banyan Water is the leading provider of data-driven water conservation software for the built environment. Using smart devices and real-time monitoring and analytics, Banyan protects Earth’s most precious resource while generating untapped revenue for clients. Since the company’s inception, Banyan has saved more than 4 billion gallons of water—equivalent to the resources required to make over 150 million pints of beer—secured the esteemed EPA WaterSense label on select products, and, in 2020, increased customer asset value by $36 million. For more information, visit www.banyanwater.com.
Pam Olszewski
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(c) 512-662-8551
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