HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere” or the “Company”) (NYSE American: LNG) announced today that its Board of Directors has made a positive Financial Investment Decision (“FID”) with respect to the 10+ million tonnes per annum of LNG Corpus Christi Stage 3 Liquefaction Project (“CCL Stage 3”) and has issued full notice to proceed to Bechtel Energy Inc. (“Bechtel”) to continue construction on CCL Stage 3, which began earlier this year under limited notice to proceed.
“Reaching FID on Corpus Christi Stage 3 represents an important milestone for Cheniere as we move forward on this significant growth project, which will strengthen our market-leading LNG infrastructure platform, provide much-needed volumes to the global LNG market by the end of 2025, and create long-term value for our stakeholders,” said Jack Fusco, Cheniere’s President and Chief Executive Officer. “I would like to recognize the Cheniere team, our financial partners, our EPC partner Bechtel and our long-term customers for their demonstrated teamwork, commitment and execution, all of which were critical elements in the successful commercialization and financing of CCL Stage 3. CCL Stage 3 is supported by a truly global portfolio of long-term customers and reflects the call for investment in natural gas infrastructure around the world to support environmental priorities and long-term energy security.”
On June 15, 2022, Cheniere’s wholly-owned subsidiary, Cheniere Corpus Christi Holdings, LLC (“CCH”) closed on an amended and restated approximately $4 billion Senior Secured Term Loan due 2029 (“CCH 2029 Term Loan”), as well as an amended, extended and upsized $1.5 billion Working Capital Facility due 2027. In conjunction with the financing, Cheniere contributed its wholly-owned equity interests in Corpus Christi Liquefaction Stage III, LLC (“CCL Stage III, LLC”) to CCH, and merged CCL Stage III, LLC into Corpus Christi Liquefaction, LLC (“CCL”), a subsidiary of CCH, with CCL continuing as the surviving company. Borrowings under the CCH 2029 Term Loan are being used to fund approximately half of the total expected cost to develop, construct, and place into service CCL Stage 3, the associated pipeline expansion and other infrastructure at or near the project, and for related business purposes. The remaining costs are expected to be funded from Cheniere.
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 total production capacity of approximately 45 mtpa of LNG in operation and an additional 10+ mtpa of expected production capacity 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, 2022, 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 regulatory authorization and approval expectations, (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 Cheniere’s capital deployment, including intent, ability, extent, and timing of capital expenditures, debt repayment, dividends, and 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.
Cheniere Energy, Inc.
Investors
Randy Bhatia, 713-375-5479
Frances Smith, 713-375-5753
Media Relations
Eben Burnham-Snyder, 713-375-5764
Phil West, 713-375-5586
BOSTON--(BUSINESS WIRE)--Schneider Electric, the global leader in the digital transformation of energy management and automation, is proud to announce that its Dallas site has achieved the UL Verified Healthy Building Mark for Indoor Air, demonstrating that the company’s indoor spaces have been evaluated by a third-party service provider to help ensure a healthy environment for the site’s occupants. The site has recently undergone a major renovation, with sustainability goals and initiatives at the forefront, and this verification recognizes the company’s ongoing commitment to the health and well-being of employees and visitors.
As one of the most respected names in safety, security and sustainability for buildings, UL’s Verified Healthy Building program is designed to help building owners demonstrate their commitment to a healthier environment for occupants in up to five areas, including IAQ. To achieve UL verification, the facility must go through a rigorous evaluation and testing period comprised of on-site, quantitative measurements, visual inspections and review of existing plans or policies. The site will be assessed using bi-annual on-site inspections to maintain compliant IAQ, and such inspections may include data from indoor air quality sensors for continual monitoring of quantitative metrics.
“Creating healthy and sustainable buildings is in our DNA,” said James Mylett, Vice President, US Digital Buildings at Schneider Electric. “We’ve made the same commitment to fostering healthy spaces for our employees at our office sites that we provide for our customers. This verification from UL recognizes our dedication to improving the quality of buildings that our teams work and collaborate in every day.”
The UL Verification serves as a science-based credential by an independent party fostering the occupants' trust in the company’s brand. “Schneider Electric is clearly going the extra mile to give their employees the peace of mind that comes with knowing they are working in a healthier environment,” said Sean McCready, Director, Asset and Sustainability, Real Estate and Properties at UL, “As workers start returning to physical office buildings, it is essential that companies everywhere take the necessary measures to earn the trust of their employees, and we’re excited to continue recognizing leaders in the IAQ space like Schneider Electric.”
The growing need for healthy and resilient buildings has prompted many companies to reconsider their practices around fundamental building aspects such as indoor air, water, hygiene and other indoor environmental quality factors. Schneider Electric was recognized as the World’s most sustainable corporation in 2021 by Corporate Knights and continues to advance its efforts to promote safer, healthier, more people-centric spaces by partnering with UL and utilizing its comprehensive range of solutions.
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, end-point 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.
Follow us on: Twitter, Facebook, LinkedIn, YouTube, Instagram, Blog
Hashtags: #LifeIsOn #BuildingsOfTheFuture #SchneiderElectric
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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Implemented facility upgrades will reduce utility and operational costs
FRAMINGHAM, Mass. & BALTIMORE--(BUSINESS WIRE)--#carbonreduction--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced the first phase completion of its $3.5 million energy conservation project with Baltimore City Public Schools (City Schools). As part of the project, Ameresco provided facility lighting upgrades and enhancements to improve the energy efficiency of 15 school buildings within City Schools.
The project consisted of replacing existing interior and exterior lighting with LED lighting. Compared to the existing lighting, LEDs are more energy efficient, need less maintenance, and provide good quality light for students and staff. Some of the lighting also included occupancy sensors so that the lights will turn off automatically when no one is present. The project is estimated to earn City Schools a $500,000 rebate from BGE, the local utility, and save over $400,000 annually in lower electricity costs. The 15 schools include elementary, middle, and high schools located throughout Baltimore City.
“Partnering with Ameresco on this project has provided the improvements we needed. Their support and expertise helped us navigate this important project smoothly and without disturbing student learning,” said Dr. Lynette Washington, Chief Operating Officer. “From the initial investment grade audit to the completion of this first phase of work, Ameresco has helped us generate energy savings and provide enhanced learning environments for our students.”
“With the completion of this project, we continue to expand our presence as a leading provider of energy-efficient solutions to educational institutions across the country. In fact, this project marks our first K-12 energy conservation project in Maryland, and we’re eager to continue our progress of implementing energy efficient and renewable solutions across the state and fostering a cleaner world for generations to come,” said Pete Christakis, Senior Vice President, Construction and Operations, Ameresco.
Construction began in November 2021 and reached completion by May 2022. A second phase of energy efficiency upgrades will be discussed between Ameresco and City Schools in the coming months.
To learn more about the energy efficiency solutions offered by Ameresco, visit www.ameresco.com/energy-efficiency/.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
About Baltimore City Public Schools
Serving nearly 78,000 students, Baltimore City Public Schools is committed to providing world-class education through the Blueprint for Success which addresses the critical areas of student wholeness, literacy, and staff leadership. The goal of City Schools is to create learning communities where our students will learn, grow, and graduate from our high schools, college, and career ready, and equipped to succeed wherever their life may take them.
The announcement of a customer’s completion of a project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. This project was included in our previously reported contracted backlog as of March 31, 2022.
Media:
Ameresco: Leila Dillon, 508-661-2264, This email address is being protected from spambots. You need JavaScript enabled to view it.
New Corporate Identity Showcases Industry Leadership in Battery Collection, Processing, and Material Upgrading for End-to-End Battery Supply Chain Solution with a Global Focus
CHARLOTTE, N.C.--(BUSINESS WIRE)--Cirba Solutions is now the combined entity representing Heritage Battery Recycling, Retriev Technologies, and Battery Solutions, creating the most experienced and comprehensive battery management and materials platform enabling a circular battery supply chain for the industry. The company’s focus on lithium-ion batteries, required for the rapidly growing electric vehicle industry, is supported by its robust end-to-end solution for all types of battery recycling and processing. Its expansive footprint includes six processing locations in North America, including two lithium-ion operations, and will be rapidly expanding with additional materials processing sites being selected this year.
“Our society is experiencing a rapid electrification transformation. Cirba Solutions, which signifies where circularity and batteries come together, is the most experienced and trusted company to handle the entire battery management process for our customers and we have the expertise to grow our services to meet the scope and scale of the upcoming future,” said David Klanecky, CEO, Cirba Solutions. “A key to our success will be to address the complexity of the circular supply chain for customers to meet the industry’s need for lithium-ion batteries.”
The company has fundamentally expanded its operational capabilities and industry expertise in the last eight months:
Cirba Solutions has a well-established heritage through its predecessor companies. Retriev Technologies was the largest and most experienced cross-chemistry battery recycler in North America and has recycled more than 50 million pounds of lithium-ion batteries. For more than 30 years, it has seen battery technology change and has adapted to meet market needs through innovation, customer collaboration, and laser-focused execution.
Battery Solutions built the largest North American post-consumer battery sorting services with a transportation, logistics, and collection infrastructure that can collect any volume of batteries of any type throughout the continent and leads the industry in compliance and safety. Processing tens of millions of pounds of end-of-life batteries annually with more than 7,000 customers, covering collection, services, and battery-centric logistics, this supports the battery management efforts for the circular supply chain.
“Cirba Solutions is the only player in the market today that has an operational, differentiated business with a full suite of capabilities to address lithium-ion and cross-chemistry battery demand,” said Klanecky. “Plus our differentiated technology roadmap provides a technical foundation for significant gains in upgrading materials while servicing the industry needs for today.”
The industry is preparing for the growing demand of electric vehicles in North America, which is estimated to grow from two million cars on the road today to 118 million by 2040. Auto manufacturers have committed to invest more than $500 billion in electrifying their fleet. Demand for new metals is anticipated to grow three-fold over the next eight years, enabling battery recycling as a viable and more sustainable resource for the overall EV supply chain.
“We are servicing the needs of today and supporting our future generations with sustainable solutions for the planet,” said Klanecky.
More information is available at www.cirbasolutions.com.
Kristy Finch
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773.621.2893
HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere” or the “Company”) (NYSE American: LNG) announced today that two of its subsidiaries, Sabine Pass Liquefaction, LLC (“SPL”) and Cheniere Marketing, LLC (“Cheniere Marketing”), have each entered into long-term liquefied natural gas (“LNG”) sale and purchase agreements (each, an “SPA”) with Chevron U.S.A. Inc. (“Chevron”), a wholly-owned subsidiary of Chevron Corporation (NYSE: CVX). At plateau, Chevron will purchase a combined 2.0 million tonnes per annum (“mtpa”) of LNG from Cheniere subsidiaries, subject to certain conditions described below.
Under the first SPA, Chevron has agreed to purchase approximately 1.0 mtpa of LNG from SPL on a free-on-board (“FOB”) basis. Deliveries under the SPA will begin in 2026, reach the full 1.0 mtpa during 2027 and continue until mid-2042. Under the second SPA, Chevron has agreed to purchase approximately 1.0 mtpa of LNG from Cheniere Marketing on an FOB basis with deliveries beginning in 2027 and continuing for approximately 15 years. The Cheniere Marketing SPA is subject to Cheniere making a positive final investment decision to construct additional liquefaction capacity at the Corpus Christi LNG Terminal beyond the seven-train Corpus Christi Stage III Project. The purchase price for LNG under the SPAs is indexed to the Henry Hub price, plus a fixed liquefaction fee.
Additionally, Cheniere’s subsidiary, Sabine Pass LNG, L.P. (“SPLNG”), and Chevron have agreed to terms for the early termination of their LNG Terminal Use Agreement (the “TUA”) in return for a lump sum payment to be made by Chevron to SPLNG during calendar year 2022. Termination of the TUA is subject to the consent of certain lenders to Cheniere Energy Partners, L.P., expected during the third quarter of 2022.
“We are pleased to welcome Chevron, one of the world’s premier integrated energy companies, as a valued long-term LNG offtaker,” said Anatol Feygin, Cheniere’s Executive Vice President and Chief Commercial Officer. “These long-term SPAs underscore the growing demand for reliable, cleaner burning LNG supply beyond 2040 and further support investment in additional LNG capacity beyond our Corpus Christi Stage III Project. We look forward to leveraging our market-leading LNG platform to explore opportunities to collaborate with Chevron on lower-carbon initiatives in the future.”
"Our strategy is to deliver lower carbon energy to a growing world," said Colin Parfitt, Chevron Vice President, Midstream. "Our agreements with Cheniere allow us to harness growing U.S. natural gas production and Gulf Coast LNG export capacity to help meet long-term demand for affordable, reliable, and ever cleaner energy.”
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 total production capacity of approximately 45 mtpa of LNG in operation and an additional 10+ mtpa of expected production capacity 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, 2022, 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 regulatory authorization and approval expectations, (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 Cheniere’s capital deployment, including intent, ability, extent, and timing of capital expenditures, debt repayment, dividends, and 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.
Cheniere Energy, Inc.
Investors
Randy Bhatia, 713-375-5479
Frances Smith, 713-375-5753
Media Relations
Eben Burnham-Snyder, 713-375-5764
Phil West, 713-375-5586
DAYTON, Ohio--(BUSINESS WIRE)--REX American Resources Corporation (NYSE: REX) (“REX” or “the Company”) announced today that its Board of Directors has declared a 3-for-1 split of its Common Stock to be effected as a 200 percent (200%) Common Stock dividend.
The dividend is payable August 5, 2022, to shareholders of record as of the close of business on July 29, 2022. Shareholders will receive two additional shares of Common Stock for every share held on the record date. As a result of the stock split, REX American Resources’ outstanding shares of Common Stock will increase from 5,953,975 at present, to approximately 17,861,925 shares.
Taking into effect the planned stock split, effective at the close of business on July 29, 2022, the number of shares of Common Stock previously authorized by the Board of Directors for repurchase will be increased by 200 percent (200%) to 1,348,239 shares.
Commenting on the stock split, REX American Resources’ Chief Executive Officer, Zafar Rizvi, commented, “Since 2010, the Company has repurchased approximately 4,779,000 shares of its common stock, which reflects our confidence in our long-term prospects and the strong cash flow that we have generated from our ethanol operations and ownership interests. However, due to the resulting significant reduction in float, the Board of Directors has authorized a 3-for-1 stock split to enhance liquidity for our shareholders.”
About REX American Resources Corporation
REX American Resources has interests in six ethanol production facilities, which in aggregate shipped approximately 700 million gallons of ethanol over the twelve-month period ended April 30, 2022. REX’s effective ownership of the trailing twelve-month gallons shipped (for the twelve months ended April 30, 2022) by the ethanol production facilities in which it has ownership interests was approximately 277 million gallons. Further information about REX is available at www.rexamerican.com.
This news announcement contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by use of forward-looking terminology such as “may,” “expect,” “believe,” “estimate,” “anticipate” or “continue” or the negative thereof or other variations thereon or comparable terminology. Readers are cautioned that there are risks and uncertainties that could cause actual events or results to differ materially from those referred to in such forward-looking statements. These risks and uncertainties include the risk factors set forth from time to time in the Company’s filings with the Securities and Exchange Commission and include among other things: the effect of pandemics such as COVID-19 on the Company’s business operations, including impacts on supplies, demand, personnel and other factors, the impact of legislative and regulatory changes, the price volatility and availability of corn, distillers grains, ethanol, non-food grade corn oil, commodity market risk, gasoline and natural gas, ethanol plants operating efficiently and according to forecasts and projections, logistical interruptions, changes in the international, national or regional economies, the impact of inflation, the ability to attract employees, weather, results of income tax audits, changes in income tax laws or regulations, the impact of U.S. foreign trade policy, changes in foreign currency exchange rates and the effects of terrorism or acts of war. The Company does not intend to update publicly any forward-looking statements except as required by law.
Douglas Bruggeman
Chief Financial Officer
(937) 276‑3931
Joseph Jaffoni, Norberto Aja
JCIR
(212) 835-8500 / This email address is being protected from spambots. You need JavaScript enabled to view it.
Fifth Wall Climate Tech leads round that includes Amazon, Cosan, Equinor Ventures, Honeywell, Mitsubishi Heavy Industries and Rio Tinto; investment will support deployments of Electric Hydrogen's pioneering electrolyzer technology
BOSTON--(BUSINESS WIRE)--Electric Hydrogen (EH2) today announced a $198 million financing to support their efforts in making cost competitive fossil-free hydrogen. The round consisted of Series B equity and venture debt from top investors. Fifth Wall Climate Tech led the round, with participation by S2G Ventures, and lenders Silicon Valley Bank and Trinity Capital. Strategic investors included Amazon’s Climate Pledge Fund, Cosan, Equinor Ventures, Honeywell, Mitsubishi Heavy Industries, and Rio Tinto. Previous investors Breakthrough Energy Ventures, Capricorn Partners, Energy Impact Partners, and Prelude Ventures also participated.
The funding will support the scale-up of EH2’s high throughput electrolyzer technology and the manufacturing and deployment of demonstration projects to produce fossil-free hydrogen (also known as “green hydrogen”) at large scale for industrial and infrastructure applications.
Hydrogen, when produced in places with abundant and clean electricity, is a promising pathway for decarbonizing industries not amenable to electrification, like steel, fertilizer and intercontinental energy transport, that account for more than a third of global GHG emissions.
EH2’s patented approach to electrolysis – the process of producing hydrogen from electricity and water – is specially designed for the high-volume, low-cost production required to support massive industrial operations. Their systems run on 100% clean energy, working seamlessly with cheap variable renewable power.
“This round represents more than an investment in a company. It’s the biggest step yet toward meeting the urgent challenge of decarbonizing hard-to-decarbonize industries that are both essential to modern life and huge sources of GHG emissions,” said Peter Gajdoš, Partner at Fifth Wall and Co-Lead of the Climate Investment team. “We’ve been searching for the most promising answers to that challenge and found one in EH2. Their team, cross-disciplinary expertise and visionary technology place them at the forefront of the race to make deep cuts in industrial emissions with compelling economics.”
Led by cofounders Raffi Garabedian and Dave Eaglesham, former executives at First Solar, Dorian West, former engineering lead at Tesla, and Derek Warnick, former Company Builder at Breakthrough Energy Ventures, Electric Hydrogen’s team brings together expertise in multiple sectors, from engineering and finance to manufacturing.
“This funding round fuels the next phase of our evolution. We’ve demonstrated our enabling core technology, built an amazing team and now have the capital we need to get our technology out into the world and start curbing emissions,” said Raffi Garabedian, CEO of Electric Hydrogen. “Just as importantly, the participation of strategic partners at the forefront of the industries we are poised to decarbonize–energy, mining, logistics, and heavy manufacturing, to name a few–provides vital insight that will facilitate and accelerate our path to market.”
“Through our commitment to The Climate Pledge, Amazon has a goal to be net-zero carbon by 2040,” said Kara Hurst, Vice President for Worldwide Sustainability at Amazon. “We are proud to support Electric Hydrogen’s innovative efforts to scale the green hydrogen economy and to meet the decarbonization needs of hard-to-abate sectors like freight transportation and ocean shipping.”
Rio Tinto Chief Scientist Nigel Steward said, “Rio Tinto is investing in Electric Hydrogen to support the development of emerging technologies with the potential to help decarbonize our operations and supply chains. We produce materials that are increasingly required for our society’s transition to a low carbon future, so it is critical to pursue new ways to work towards net zero in supplying them.”
“The energy transition represents an opportunity for Equinor Ventures to leverage its leading position within carbon management and hydrogen, and to develop and grow new value chains and markets. We are pleased to announce the investment in Electric Hydrogen as they scale up green hydrogen production to GW-scale,” said Gareth Burns, Head of Equinor Ventures.
About Electric Hydrogen
Electric Hydrogen (EH2) is a deep decarbonization company pioneering new technology for low-cost, high-efficiency, fossil-free hydrogen systems. Focusing on industrial applications of hydrogen in steel, ammonia and freight transport, EH2’s goal is to help eliminate more than 30% of global GHG emissions from hard-to-electrify industries. Their leadership team has revolutionized other clean energy sectors at Tesla and First Solar and they are backed by world-class climate tech investors like Breakthrough Energy Ventures, Prelude Ventures, Capricorn Investment Group, Energy Impact Partners, Fifth Wall Climate Tech and S2G Ventures. The company also has partnerships with strategic investors that are leaders in their target sectors, including Amazon Decarbonization Fund, Cosan, Equinor Ventures, Honeywell, Mitsubishi Heavy Industries and Rio Tinto.
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SAN FRANCISCO--(BUSINESS WIRE)--CMTA, a Legence company, has acquired the assets of McCracken and Woodman in the San Francisco Bay Area. This acquisition increases CMTA’s geographic reach, engineering capacity, and ability to provide high-performance design and energy-efficient solutions to clients.
CMTA joined Legence’s roster of companies in 2021, this strengthened their ability to provide integrated energy and sustainability solutions and services for high-performance buildings with a focus on increasing efficiency consumption within the built environment across the United States. McCracken and Woodman will join the platform as part of CMTA to expand services in California.
“I am delighted to welcome the incredible people at McCracken and Woodman to the CMTA family. In addition to their history of providing high-quality design services, they share our mission to create healthier, more sustainable, and more cost-effective buildings,” says Brian Turner, CMTA Managing Principal, California. “I can’t wait to begin working with them to make an impact in California.”
With this addition, CMTA will bring zero energy building design, carbon neutrality, scalable renewable design, and ESG (Environmental, Social, Governance) solutions to the California market. The key markets they serve include K-12, higher education, healthcare, federal and local governmental entities, athletic and recreation facilities, and commercial work.
“We are thrilled to join the CMTA team. Together we will continue to bring innovation, collaborative culture, and quality focused design in California,” says Brian Chuck, Principal, McCracken and Woodman. “I am confident that our collective partnership will do great things for our community moving forward.”
“McCracken and Woodman have always focused on providing quality design and exceptional service to clients and we are thrilled that CMTA shares those values along with their unmatched building science and energy efficiency capabilities” says Marc Woodman, Principal, McCracken and Woodman. “As we worked with CMTA through this process, it was clear that we share the same passion for our industry, our employees, our clients, and our communities. This is the perfect match, and we are very excited for the future as a part of CMTA.”
About CMTA
CMTA, a Legence company, specializes in creating and maintaining high-performing facilities and energy systems by providing energy solutions, energy consulting and engineering, and performance contracting services. CMTA is recognized as a leader in sustainable facility design and energy efficiency retrofits, often providing performance contracting and consulting engineering services together as part of larger multi-disciplinary comprehensive solutions. For more information, please visit www.cmta.com.
About Legence
Legence, a Blackstone portfolio company, is an Energy Transition Accelerator™ that provides advisory services and implementation focused on financing, designing, building, and servicing complex systems in mission-critical and high-performance facilities. With five decades of expertise in the built environment, Legence has a proven track record of reducing carbon emissions, implementing renewables, lowering utility costs through efficiency consumption, and making systems run better at unmatched speed and scale. To learn more about Legence and its services, visit https://www.wearelegence.com/.
Molly Lauck, National Communications
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Adam Bedard brings 25+ years of leadership in energy and technology to Validere.
HOUSTON & CALGARY, Alberta--(BUSINESS WIRE)--#corporatedevelopment--Validere, a leading all-in-one commodity and carbon management software for the energy industry, welcomes Adam Bedard as Chief Strategy and Corporate Development Officer. Bedard will drive strategic initiatives, oversee corporate development including M&A, develop key partnerships, and accelerate growth.
Bedard brings his deep knowledge of energy infrastructure operations, markets, and carbon strategies to Validere. Prior to joining the company, Bedard held the role Strategic Accounts at Palantir Technologies, a leading big data and AI technology company.
Prior to Palantir, Bedard was the co-founder and CEO of ARB Midstream, the largest privately held Denver-based midstream company, operating over 1,500 miles of pipeline and 2 million barrels of storage throughout the inland corridor of North America. In 2020, he was recognized as an Entrepreneur of the Year Mountain Desert Region by Ernst & Young for his exceptional leadership in growing ARB Midstream.
“We are proud to have such a strategic industry leader join the Validere team,” says Nouman Ahmad, co-founder and CEO of Validere. “Adam's wealth of industry knowledge and depth of experience in growing companies will play a vital role in our future development.”
A professional engineer with a BS in Civil Engineering from the University of Colorado Boulder and an MBA in Finance from the Wharton School, Bedard began his career as an environmental engineer focused on unconventional energy development. He also served as the VP of Strategy for a publicly traded midstream MLP, which completed $2.5 billion in acquisitions over a two-year period.
“For the entirety of my career, I have seen the value of leveraging data and analysis to inform key operating and commercial decisions,” says Bedard. “Technology and data are essential for companies to not only navigate the challenging issue of carbon, but also leverage that same information to thrive. The shift toward a lower carbon intensity future—combined with the proliferation of high frequency data—demands it. Validere has an incredible team, and their software and industry knowledge combined are the best in the market.”
About Validere
Validere provides all-in-one commodity management to help energy organizations transform disconnected, incomplete data into clear and immediately actionable pathways to financial and environmental value. Over 50 of North America’s leading energy companies rely on Validere’s technology and multidisciplinary experts to understand their physical and environmental commodities and navigate an increasingly complex environment with clarity and ease. Validere is on a mission to better human prosperity by making the energy supply chain efficient and sustainable. The company has offices in Houston, Calgary, and Toronto.
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Validere
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Validere
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DUBLIN--(BUSINESS WIRE)--The "US Oil and Gas Burner Management System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Component, Burner Type, and Application" report has been added to ResearchAndMarkets.com's offering.
The US oil and gas burner management system market is expected to reach US$ 1,308.5 million by 2028 from US$ 853.2 million in 2021; it is estimated to grow at a CAGR of 6.3% from 2021 to 2028.
Several accidents and occurrences caused various governments to establish safety legislations. The entire industry adheres to safety standards and rules to avoid accidents. For the past few years, safety controls on direct-fired heaters have been steadily improving, and the trend has accelerated in the last five years.
This is owing to government rules and standards that actively enforce the application of current codes. Some specific and prescriptive standards have been accessible for a long time, yet the industry's rate and degree of acceptance vary greatly. The majority of operating organizations have their own set of criteria, which may differ from one facility to another.
The adoption of advanced BMS across various industries has been prompted by increased stringency of government rules and regulations and surged number of lawsuits for accidents where appropriate codes and guidelines were not followed for both existing and new heater installations.
BMS are typically designed using codes and standards, such as NFPA 85 (Boiler and Combustion Systems Hazard Code), NFPA 86 (Standard for Ovens and Furnaces), NFPA 87 (Recommended Practice for Fluid Heaters), or API 556 (Application Specification for Boilers and Combustion Systems). These standards specify the quantity, quality, and sensors and valves types that must be used to design the BMS and the logic that must be used to trip the device when needed safely.
Safety systems are now being designed using new performance-based standards, such as IEC 61508, IEC 61511, and ANSI/ISA S84.01. 1. These standards establish criteria for the amount of risk a specific end user is willing to accept, thus addressing the hazards connected with a particular location.
Furthermore, the global importance of Safety Integrity Levels (SIL) in the process industries expanded dramatically in recent years, which has driven the development of the burner management system, as BMS is compliant with SIL levels up to 3. All of these factors are driving the market growth.
Due to the presence of prominent market players and end-users and high demand from the oil & gas industry, the oil and gas burner management system (BMS) market in the US is expected to grow significantly during the forecast period. Furthermore, owing to the expansion of the industrial sector in the US, the country offers considerable long-term potential for manufacturers.
With thousands of boilers, furnaces, and ovens in use worldwide, the risk of a combustion system failing is always present, especially as these systems grow in size and complexity. An inexperienced operator could mistakenly shut off a crucial fuel system when added in a single-point failure. Training and instruction in combustion can reduce losses, improve employee safety, increase equipment uptime, and boost a company's overall competitiveness.
Most insurance carriers accept the NFPA's combustion safety recommendations completely or use them as a foundation for their own customized rules because the NFPA continues to improve them. Training is an important aspect of safety that the NFPA 86 standard devotes numerous parts to it.
Furthermore, training increases overall production while also lowering costs. Having in-house workers with the ability to detect flaws, for example, will result in improved fuel efficiency, fewer disruptions, and the avoidance of outages and downtime. Training is also a legal requirement that must be fulfilled every year.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. US Oil & Gas Burner Management System Market Landscape
4.1 Market Overview
4.2 US PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. US Oil & Gas Burner Management System Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Safety Concerns in Industries
5.1.2 Rising Government Legislation and Regulations
5.2 Market Restraints
5.2.1 Lack of Technical Knowledge and Skilled Workforce
5.3 Market Opportunities
5.3.1 Rising Growth of Oil and Gas Industry in the US
5.4 Future Trends
5.4.1 IoT Based Automated Burner Management System
5.5 Impact Analysis of Drivers and Restraints
6. Oil & Gas Burner Management System - US Market Analysis
6.1 US Oil & Gas Burner Management System Market Overview
6.2 US: Oil & Gas Burner Management System Market - Revenue, and Forecast to 2028 (US$ Million)
6.3 Market Positioning - US Market Players Ranking
7. US Oil & Gas Burner Management System Market Analysis By Component
7.1 Overview
7.2 US: Oil & Gas Burner Management System Market, by Component (2020 and 2028)
7.3 Software
7.4 Hardware
8. US Oil & Gas Burner Management System Market Analysis By Burner Type
8.1 Overview
8.2 US: Oil & Gas Burner Management System Market, By Burner Type (2020 and 2028)
8.3 Single Burner
8.4 Multiple Burner
9. US Oil & Gas Burner Management System Market Analysis By Application
9.1 Overview
9.2 US: Oil & Gas Burner Management System Market, by Application (2020 and 2028)
9.3 Combustors
9.4 Separators
9.5 Dehydrators
9.6 Flares
9.7 Vertical treaters
9.8 Horizontal treaters
9.9 Tanks
9.10 Others
10. US Oil & Gas Burner Management System Market- COVID-19 Impact Analysis
10.1 Overview
11. US Oil & Gas Burner Management System Market-Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Merger and Acquisition
11.4 New Product launch
12. US Oil & Gas Burner Management System Market-Client Query
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/x368t8
ResearchAndMarkets.com
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SEATTLE--(BUSINESS WIRE)--#fusion--Zap Energy has officially marked a critical engineering milestone by creating the first plasmas — the hot, dense form of matter found in stars — in FuZE-Q, their new prototype designed to reach the long-sought target of Q=1, where the process of nuclear fusion inside a plasma yields more energy than was consumed to create it.
The first plasmas in FuZE-Q come on the heels of progress last year showing the company’s innovation of sheared-flow stabilization continues to extend the lifetime of Z-pinch plasmas at 500 kiloamps (kA) of current.
To accelerate the pace of bringing its technology to market, the company is also announcing the close of $160 million in Series C funding.
No magnets required
The key to Zap Energy’s success is a breakthrough method of confining and compressing plasma called a sheared-flow-stabilized (SFS) Z pinch. In Z-pinch fusion a line of plasma carrying an electrical current generates its own magnetic field that “pinches” the plasma until it’s hot and dense enough for fusion to occur. SFS then helps sustain the plasma by suppressing instabilities that have plagued historical attempts at Z-pinch fusion.
Compared to prevailing approaches to fusion, Zap Energy’s technology is incredibly elegant and does not require any superconducting magnets or high-powered lasers. A simpler method of producing fusion means an opportunity to build smaller, less complex, more scalable systems that will more quickly bring fusion energy to the grid.
The conceptual basis for the technology was developed at the University of Washington (UW) together with collaborators from Lawrence Livermore National Laboratory. UW professors Uri Shumlak and Brian A. Nelson teamed up with entrepreneur and investor Benj Conway to co-found Zap Energy in 2017 to accelerate and ultimately commercialize the research. The company now has over 60 employees based in Seattle, Everett and Mukilteo, Washington.
“Z pinch has long been an appealing way to achieve nuclear fusion, but for many years researchers considered Z-pinch’s plasma instabilities to be an insurmountable challenge,” says Shumlak, who serves as Zap Energy’s Chief Science Officer and is also a UW Professor of Aeronautics & Astronautics. “We’ve shown through both simulation and experiment that sheared flows can stabilize fusion plasmas, and that the stability should extend to a commercially viable scale. The Zap Energy team has made rapid progress since this technology moved out of the lab, especially with recent team and investment growth.”
Fusion conditions
The more current used to make a Z pinch, the hotter and denser it will be, so climbing to higher and higher currents is a key part of advancing Z-pinch fusion. Having reached 500 kA and the limits of its current hardware capabilities this past fall, Zap Energy will now begin operation on its next-generation platform, known as FuZE-Q, and install a cutting-edge power bank later this year. The new system will be designed for the levels of current needed to reach an equivalent point of a scientific energy breakeven, where the energy coming out of the Z pinch will be greater than the energy put in to create it. Scientific modeling predicts the Q=1 equivalent point will occur around 650 kA of current.
“FuZE-Q is the fourth generation of Z-pinch device that we’ve built and is undoubtedly the most ambitious,” notes Nelson, Chief Technology Officer. “We designed it to be versatile, resilient and tunable in lots of ways that will be critical as we ramp to higher currents, temperatures and densities.”
“To be a practical energy source, we need to go well beyond Q=1, but if you want to get fusion on the grid in time to make a difference to the planet, then the ability to iterate quickly on a small, cheap platform, is absolutely vital,” says Conway. “We can design, build and test systems at a much faster pace than other approaches and we are working in parallel on technology that we are going to need on the other side of breakeven.”
Series C
Following a $27.5 million Series B in May 2021, Zap Energy’s $160 million Series C funding round was led by Lowercarbon Capital with participation by a new set of investors that includes Breakthrough Energy Ventures, Shell Ventures, DCVC and Valor Equity Partners. Existing financial and strategic investors who have backed the new raise include Addition, Energy Impact Partners (EIP) and Chevron Technology Ventures.
“The team at Zap are getting closer to mass-manufacturable fusion reactors small enough to fit inside a garage,” remarks Clay Dumas, a founding partner at Lowercarbon. “From powering heavy industry to remote communities, this tech could go a long way toward de-fossilizing our economy with energy that’s straight up cheaper, cleaner and more abundant.”
“We believe fusion technologies could be one of the most important developments for the benefit of the climate and society more broadly,” adds Carmichael Roberts, Breakthrough Energy Ventures. “Zap’s approach building on decades of peer-reviewed research in Z pinches represents another critical step towards progressing fusion as a viable carbon-free energy option, and we’re looking forward to working with them as they continue on the path towards commercialization.”
About Zap Energy
Zap Energy is building a low-cost, compact and scalable fusion energy platform that confines and compresses plasma without the need for expensive and complex magnetic coils. Zap’s sheared-flow-stabilized Z-pinch technology offers the shortest potential path to commercially viable fusion and requires orders of magnitude less capital than traditional approaches. Zap Energy has over 60 employees in two facilities near Seattle and is backed by leading financial and strategic investors. Visit Zap online at zap.energy.
Andy Freeberg
Head of Communications
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DUBLIN--(BUSINESS WIRE)--The "APAC Submarine Cable System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Service; by Application" report has been added to ResearchAndMarkets.com's offering.
The APAC submarine cable system market is expected to grow from US$ 235.85 million in 2021 to US$ 546.78 million by 2028; it is estimated to grow at a CAGR of 12.8% from 2021 to 2028.
Submarine cables, fiber-optic cables laid in the ocean, carry more than 99% of intercontinental communication traffic, which makes them the invisible enablers of global connectivity. At present, there are more than 500 subsea cables in operation. Cables connecting nearby islands can be shorter than 50 miles, whereas those traversing the Pacific can reach more than 10,000 miles in length. Many of them are used to connect a single connection line across a water body, while others have multiple landing points connecting multiple countries.
The major stakeholders in the APAC submarine cable system market analysis include service providers and end-users. The service providers are the companies engaged in supplying and installation of submarine power cables. The major end-users considered in the APAC submarine cable system market includes telecommunication, power generation, and oil & gas.
Countries in Asia-Pacific focus on encouraging cross-sector, cross-border, and cross-vector strategic partnerships to accelerate progress toward net-zero carbon emissions. Many low-cost renewable energy resources are located in sparsely populated areas away from load centers. In many cases, the resources are situated across international borders from the energy demand centers.
Cross-border electricity trade, enabled by power grid infrastructure connectivity, creates a need to manage the energy surpluses and deficits across the region in an optimal manner. Thee demands of a growing middle-class population and the increased access to modern energy sources propel the demand for energy. Thus, regulatory support coupled with the revision of existing policies to strengthen the cross-border trading of electricity drives the growth of the APAC submarine cable system market.
The growing expansion of new APAC submarine cable systems analysis to positively drive the APAC submarine cable system market in the coming years. For instance, in February 2022, Savills Korea announced a joint development by signing an agreement with KT for installing a new cable with a total length of 9,000 km that will land in 6 countries within APAC connecting South Korea, Japan, Taiwan, Indonesia, Philippines, and Singapore. The initiative was in response to the fast-growing demand for global data capacity growth.
Based on service, the APAC submarine cable system market is segmented into installation services and maintenance & upgrade services. The cable installation process includes landing cables onshore and laying across the ocean or body of water until reaching the other side.
Increasing penetration of the internet, growth prospects in the telecom industry, and the rise in transmission of power are the prominent factors responsible for the demand for maintenance activities, helping to drive the APAC submarine cable system market share.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. APAC Submarine Cable System Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Submarine Cable Systems Market - APAC PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. APAC Submarine Cable System Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growth in Offshore Wind Power Capacity from Asia Pacific
5.1.2 Increase in Grid Connectivity
5.2 Market Restraints
5.2.1 Environmental Regulations
5.3 Market Opportunities
5.3.1 Rise in Demand for Content Providers
5.4 Market Trends
5.4.1 Surge in Demand for Bandwidth Due to Emergence of 5G
5.5 Impact Analysis of Drivers and Restraints
6. APAC Submarine Cable Systems - Global Market Analysis
7. APAC Submarine Cable System Market Analysis - By Service
8. APAC Submarine Cable System Market Analysis - By Application
9. APAC: APAC Submarine Cable System Market, by Key Country
10. APAC Submarine Cable System Market- COVID-19 Impact Analysis
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/3h0838
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HAMILTON, Bermuda--(BUSINESS WIRE)--June 22, 2022 – Triton International Limited (NYSE: TRTN) today announced that John Burns, Senior Vice President and Chief Financial Officer, intends to retire at the end of 2022 after more than 25 years with the Company. Mr. Burns will remain in his role until a successor is in place and following his retirement will serve in an advisory role to ensure a smooth transition. The Company has initiated a search for a successor, which will include both internal and external candidates. Triton has engaged Korn Ferry to assist in its CFO search process.
“On behalf of Triton’s Board and the entire Triton team, I would like to thank John for his leadership, dedication and significant contributions over his career with the Company,” said Brian Sondey, Chairman and CEO. “John has been an exceptional CFO for the past 13 years and has helped guide Triton through a period of strong growth and superior shareholder returns while building a talented and experienced finance team. We appreciate that John will remain in his position as we transition to a new CFO and that he has offered to continue as an advisor after our new CFO is in place.”
“It has been an honor and privilege to be a part of Triton’s long history of success. This is a great company with a world-class team and I am deeply grateful to the many colleagues who have helped make my career so memorable and fulfilling," said John Burns. “I’m very proud of what we have accomplished together and I’m excited for the bright future that lies ahead for Triton.”
About Triton International Limited
Triton International Limited is the world’s largest lessor of intermodal freight containers. With a container fleet of over 7 million twenty-foot equivalent units ("TEU"), Triton’s global operations include acquisition, leasing, re-leasing and subsequent sale of multiple types of intermodal containers and chassis.
Important Cautionary Information Regarding Forward-Looking Statements
Certain statements in this release, other than purely historical information, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, 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 include, among others, statements relating to Triton’s business, future performance and the management transition discussed in this release. Statements that include the words "expect," "intend," "plan," "seek," "believe," "project," "predict," "anticipate," "potential," "will," "may," "would" and similar statements of a future or forward-looking nature may be used to identify forward-looking statements. All forward-looking statements address matters that involve risks and uncertainties, many of which are beyond Triton's control. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements.
These factors include, without limitation, economic, business, competitive, market and regulatory conditions and the following: the impact of COVID-19 on our business and financial results; decreases in the demand for leased containers; decreases in market leasing rates for containers; difficulties in re-leasing containers after their initial fixed-term leases; our customers' decisions to buy rather than lease containers; our dependence on a limited number of customers and suppliers; customer defaults; decreases in the selling prices of used containers; extensive competition in the container leasing industry; risks stemming from the international nature of our business, including global economic trends and geopolitical risks, such as economic and trade disruptions resulting from the ongoing war in Ukraine; decreases in demand for international trade; risks resulting from the political and economic policies of the United States and other countries, particularly China, including but not limited to, the impact of trade wars, duties and tariffs; disruption to our operations from failures of, or attacks on, our information technology systems; disruption to our operations as a result of natural disasters; compliance with laws and regulations related to economic and trade sanctions, security, anti-terrorism, environmental protection and anti-corruption; the availability and cost of capital; restrictions imposed by the terms of our debt agreements; changes in tax laws in Bermuda, the United States and other countries; and other risks and uncertainties, including those risk factors set forth in the section entitled "Risk Factors" in our Form 10-K filed with the Securities and Exchange Commission ("SEC"), on February 15, 2022, in any subsequent Form 10-Q filed or to be filed by Triton, and in other documents we file with the SEC from time to time.
The foregoing list of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein and elsewhere. Any forward-looking statements made herein are qualified in their entirety by these cautionary statements. Except to the extent required by applicable law, we undertake no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
Andrew Greenberg
Senior Vice President
Business Development & Investor Relations
914-697-2900
HOUSTON--(BUSINESS WIRE)--Schlumberger Limited (NYSE:SLB) will hold a conference call on July 22, 2022 to discuss the results for the second quarter ending June 30, 2022.
The conference call is scheduled to begin at 9:30 am US Eastern time and a press release regarding the results will be issued at 7:00 am US Eastern time.
To access the conference call, listeners should contact the Conference Call Operator at +1 (844) 721-7241 within North America or +1 (409) 207-6955 outside of North America approximately 10 minutes prior to the start of the call and the access code is 8858313.
A webcast of the conference call will be broadcast simultaneously at www.slb.com/irwebcast on a listen-only basis. Listeners should log in 15 minutes prior to the start of the call to test their browsers and register for the webcast. Following the end of the conference call, a replay will be available at www.slb.com/irwebcast until August 22, 2022, and can be accessed by dialing +1 (866) 207-1041 within North America or +1 (402) 970-0847 outside of North America and giving the access code 9508868.
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
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Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
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Study will explore capturing carbon dioxide from the air and storing in concrete
PITTSBURGH--(BUSINESS WIRE)--$X #CarbonCapture--The United States Department of Energy’s National Energy Technology Laboratory (DOE-NETL) has selected the University of Illinois Urbana-Champaign’s Prairie Research Institute (PRI) for an award of $3,459,554 for research and development to support a front-end engineering design (FEED) study on carbon dioxide (CO2) removal technologies. The study will focus on the advancement of a direct air capture and utilization system (DACUS), which can remove 5,000 metric tons per year of CO2 from ambient air and then permanently mineralize it in concrete products. If built, the designed system would be larger than any existing direct air capture system (DAC).
“We’re excited to bring together a strong team of academic and industry collaborators to accelerate effective, economical carbon capture and use,” said Dr. Kevin OBrien, the project’s principal investigator and leader of PRI’s Illinois Sustainable Technology Center.
The study will launch at U. S. Steel’s Gary Works in Gary, Indiana, using a DAC technology developed by CarbonCapture Inc. The technology will use the plant’s waste heat, energy, and location, so energy and transportation costs can be minimized.
“U. S. Steel is committed to progressing our efforts described in our Climate Strategy Report to decarbonize and accelerate towards a lower carbon future, but we know that one company’s actions are not enough,” said Rich Fruehauf, Senior Vice President – Chief Strategy & Sustainability Officer at U. S. Steel. “Achieving our goal of net-zero emissions by 2050 is going to take unprecedented innovation and collaboration.”
Once CO2 emissions are captured from the atmosphere, the liquified gas will be transported to Ozinga ready mix concrete plants utilizing CarbonCure’s CO2 removal and utilization technologies, which inject the CO2 directly into the concrete as it is being mixed. When injected, the CO2 immediately mineralizes and is locked away in the concrete, never to return to the atmosphere.
“Permanent CO2 storage is a crucial component of carbon removal. As the most recent Intergovernmental Panel on Climate Change makes clear, the permanent storage of ‘centuries or more’ that carbon mineralization in concrete provides is a critical component of durable carbon removal,” said Robert Niven, Chair and CEO of CarbonCure Technologies. “CarbonCure is excited to contribute to this crucial research to help scale the solutions we need to ensure our climate future.”
“Ozinga’s purpose is to make a positive impact, and embracing innovation in concrete sustainability is key to ensuring a better environment for generations to come,” said Ryan Cialdella, Vice President of Innovation and Market Development at Ozinga. “We believe early collaboration is important to find the best solution for reduction of carbon emissions, and our development and testing of lower embodied CO2 mix designs has made participating in this important study a great fit.”
“We’re very excited about participating in this groundbreaking study,” said Adrian Corless, CEO of CarbonCapture Inc. “Direct air capture is particularly effective when energy costs can be reduced via the use of waste heat and the captured CO2 can be permanently stored in concrete. At scale, we think this solution will lead to the removal of massive amounts of CO2 from the atmosphere.”
This FEED study will also provide data for Visage Energy Corp. to assess the impact on job creation, regional economic impact, and environmental justice issues.
Sargent & Lundy will provide the constructability review and costing of the DAC’s integration within the steel plant. Ecotek Group will design the infrastructure to connect the DAC system and the plant.
In the project selection announcement, the DOE said that the advancement of DAC technology could play a critical role in conjunction with aggressive decarbonization in combatting the climate crisis and achieving the Biden-Harris Administration’s goal of net-zero greenhouse gas emissions by 2050.
About U. S. Steel (NYSE: X)
Founded in 1901, United States Steel Corporation is a leading steel producer. With an unwavering focus on safety, the company’s customer-centric Best for All® strategy is advancing a more secure, sustainable future for U. S. Steel and its stakeholders. With a renewed emphasis on innovation, U. S. Steel serves the automotive, construction, appliance, energy, containers, and packaging industries with high value-added steel products such as U. S. Steel’s proprietary XG3™ advanced high-strength steel. The company also maintains competitively advantaged iron ore production and has an annual raw steelmaking capability of 22.4 million metric net tons. U. S. Steel is headquartered in Pittsburgh, Pennsylvania, with world-class operations across the United States and in Central Europe. For more information, please visit www.ussteel.com.
About CarbonCapture Inc.
CarbonCapture is a US-based climate technology company that develops modular direct air capture (DAC) machines that filter carbon dioxide out of the atmosphere. The company also develops large-scale carbon removal projects using its proprietary DAC technologies, generating high-quality carbon removal credits for companies with net zero goals that seek to offset their hard-to-abate emissions. DAC-sourced carbon removal credits are the gold standard in offsets: measurable, verifiable, and permanent.
For more information, please visit carboncapture.com
About CarbonCure Technologies
CarbonCure Technologies, a fast-growing carbon dioxide removal tech company, is on a mission to annually reduce and remove 500 million metric tons of carbon emissions by 2030—equal to taking 100 million cars off the road each year. CarbonCure’s suite of technologies permanently store captured CO2 in concrete through carbon mineralization and Verra verified CarbonCure’s methodology in 2021. With more than 550 systems sold across the global concrete industry, CarbonCure’s technologies currently save from the atmosphere thousands of metric tons of CO2 each month—with exponential growth and impact, year-over-year. CarbonCure’s cutting-edge research and innovation have garnered global recognition and prestigious titles, most notably Carbon XPRIZE Grand Prize Winner, 2020 North American Cleantech Company of the Year and Cleantech 100 Hall of Fame Company. CarbonCure’s investors include Breakthrough Energy Ventures, Amazon, Microsoft, Carbon Direct, and Mitsubishi Corporation.
About Ozinga
Ozinga is a fourth-generation family-owned American business in the construction materials industry. They make a positive impact on individuals, their families and the community for generations by providing concrete, aggregates and cement that help build a better future.
About The Prairie Research Institute
The University of Illinois' Prairie Research Institute applies scientific expertise in geology, ecology and biodiversity, archaeology, water, weather and climate, pollution prevention, hazardous waste management, and sustainable energy to benefit the people, economy, and environment of Illinois. www.prairie.illinois.edu/.
About Sargent & Lundy
Sargent & Lundy is one of the longest-standing full-service architect engineering firms in the world. Founded in 1891, the firm is a global leader in power and energy with expertise in grid modernization, renewable energy, energy storage, nuclear power, fossil fuels and carbon capture. Sargent & Lundy delivers comprehensive project services – from consulting, design and implementation to construction management, commissioning and operations/maintenance – with an emphasis on quality and safety. The firm serves public and private sector clients in the power and energy, gas distribution, industrial and government sectors. For more information, visit sargentlundy.com and follow us on LinkedIn.
About Visage Energy
Visage Energy for the last three decades has been heavily involved in the energy and industrial sectors and providing advisory services in terms of stakeholder engagement, market analysis and technology commercialization. Visage’s industry knowledge has allowed the team to provide guidance with respect to optimal methods to scale up different energy technologies as well as advocate for the deployment of technologies with a multitude of diverse stakeholders. Their clients have included multi-national corporations, investor-owned utilities, state agencies, national laboratories, and small technology developers over the years. Additionally, Visage is focused on assessing the impact of carbon management technologies on job creation, regional economic impact, and environmental justice issues. Visage was designated a Small Disadvantaged Business by the Small Business Administration and is certified by the California Public Utility Commission’s (diverse business enterprise) Supplier Clearinghouse. www.visageenergy.com
About National Energy Technology Laboratory
NETL is a U.S. Department of Energy national laboratory that drives innovation and delivers technological solutions for an environmentally sustainable and prosperous energy future. Through its world-class scientists, engineers and research facilities, NETL is ensuring affordable, abundant and reliable energy that drives a robust economy and national security, while developing technologies to manage carbon across the full life cycle, enabling environmental sustainability for all Americans, advancing environmental justice and revitalizing the economies of disadvantaged communities. Leveraging the power of workforce inclusivity and diversity, highly skilled innovators at NETL’s research laboratories in Albany, Oregon; Morgantown, West Virginia; and Pittsburgh, Pennsylvania conduct a broad range of research activities that support DOE’s mission to ensure America’s security and prosperity by addressing its energy and environmental challenges through transformative science and technology solutions.
U. S. Steel Media Contact
Arista Joyner
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Carbon Capture Media Contact
Al Duncan
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Ozinga Media Contact
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The Prairie Research Institute Media Contact
University of Illinois at Urbana-Champaign
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Sargent & Lundy Media Contact
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Visage Energy Media Contact
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310-963-7478
Receive a Smart Thermostat at No Cost and More Tips to Manage Summer Energy Costs
OAKLAND, Calif.--(BUSINESS WIRE)--On the first official day of summer Pacific Gas and Electric Company (PG&E) shares strategies to help customers save energy and keep costs down as temperatures continue to rise. Customers can utilize these simple steps, free tools, and programs to minimize the impact of summer heat on energy bills.
“Energy use typically increases during the summer months as the air conditioner accounts for more than half of the energy consumed in the average home or business. These customer tools and programs help make it easier for the system to work more efficiently, which can help customers save on energy bills,” said Aaron August, PG&E’s Vice President of Business Development & Customer Engagement.
Five Simple Ways to Save
Other programs include Medical Baseline offering a lower monthly rate for customers with certain medical conditions, Budget Billing averages out energy costs for more predictable monthly payments, and Bill Forecast Alerts are notifications when a monthly bill is expected to exceed a specific amount set by the customer.
For more tips on how to save this summer, visit www.pge.com/summer.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
1 Tax and shipping not included. Offers valid while supplies last. Prices shown reflect rebates plus enrollment in PG&E SmartAC Program. Rebate limitations apply. Offer does not apply to previous purchases. Restrictions may apply.
MEDIA RELATIONS:
415-973-5930
Itron’s Premier Customer-Focused Event to Uncover Possibilities for a Better Connected, Sustainable Future
LIBERTY LAKE, Wash.--(BUSINESS WIRE)--#IIoT--Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, announced that its flagship event, Itron Inspire 2022, will take place in person Sept. 23-30, 2022, at the JW Marriott Island Beach Resort in Marco Island, FL.
The customer-focused event will feature a full line-up of sessions and networking events for in-person attendees as well as livestreamed keynotes and select breakout sessions for an online audience. The conference will connect industry experts from across energy, water, industrial IoT (IIoT) and smart city communities to share insights, learn from one another and explore the possibilities for a more connected, sustainable and resourceful future.
“We can’t wait to reconnect in person and online with our customers and partners across the industry,” said Marina Donovan, vice president, global marketing and public affairs at Itron “Utilities and cities are uniquely aware of the emerging trends and challenges facing our industry, and Itron and our partners are developing cutting-edge solutions to address them. During Itron Inspire, we’ll come together to discuss these opportunities, including how more intelligence opens the door to more possibilities.”
Agenda-at-a-Glance
The high-level schedule of events is outlined below. A more detailed agenda will be released closer to the conference.
Registration for the conference, including both in-person and livestream sessions, is open and the full agenda will be available later this summer. To learn more, visit www.itron.com/inspire.
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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MINNEAPOLIS--(BUSINESS WIRE)--Today, US Solar announced T-Mobile’s Sunscription℠ to 14 new one-megawatt (MW) US Solar Community Solar Gardens to generate clean, renewable energy and provide energy cost savings to T-Mobile locations across seven Minnesota counties. Earlier this year, T-Mobile became the first major U.S. telecom to achieve its RE100 commitment to source 100% of its total electricity usage from renewable electricity, and this Sunscription℠ furthers its commitment to a sustainable future.
Joining T-Mobile in these gardens will be a mixture of residential, public entity, and commercial subscribers. The first three Community Solar Gardens were energized in late 2021, while the other 11 gardens are in various stages of construction and development.
"We are excited to partner with T-Mobile and provide a renewable energy solution to support their industry-leading sustainability goals in Minnesota and across the nation," said Erica Forsman, Vice President of Origination at US Solar. "We're focused on providing solutions to our commercial partners that make it simple and beneficial to support local clean energy."
A Sunscription to a Community Solar Garden from US Solar allows companies and individuals to benefit from local solar without any upfront costs or equipment on their property. Community Solar helps increase access to solar energy even for businesses and homes that are not ideally situated for a rooftop solar installation. Community Solar Garden subscribers receive savings through a bill credit on their electric bill based on the production of the Community Solar Garden, while supporting the development of local, clean energy.
“Partners like US Solar not only help T-Mobile achieve our sustainability goals, but also bring critical new clean energy benefits to local communities and organizations for a more sustainable future,” says Chad Wilkerson, Director of Sustainability and Infrastructure Sourcing at T-Mobile.
Across Minnesota, US Solar has over 120MW of operational Community Solar Gardens that provide clean, renewable electricity to Xcel Energy’s grid. US Solar has worked with over 100 municipal and commercial customers, like T-Mobile, and over 2,700 residential customers, to provide money-saving Community Solar Sunscriptions℠. Additionally, US Solar Community Solar Gardens are planted with pollinator-friendly native vegetation, which decreases stormwater runoff, enhances soil regeneration, and increases the air quality in the surrounding communities.
T-Mobile Sunscriptions are in Blue Earth, McLeod, Renville, Goodhue, Benton, Stearns and Le Sueur counties in Minnesota.
US Solar is currently subscribing Xcel Energy customers to its Community Solar Gardens in Minnesota, Colorado and Illinois. Businesses and residents can sign up for a Sunscription℠ at us-solar.com.
About US Solar
United States Solar Corporation ("US Solar") makes solar energy accessible with simple solutions that are as good for the wallet as for the environment. US Solar is a developer, owner, operator, and financier of solar generation and energy storage projects with a focus on emerging state markets and community solar programs. US Solar helps residents, public entities, and businesses reduce electricity costs with local, renewable energy. Additional information about US Solar and a Solar Garden Sunscription℠ can be found by visiting www.us-solar.com.
Greta Chizek
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BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology space, today announced that it will host a virtual Investor Day on Thursday, July 7, 2022, at 9 a.m. EDT. Advent’s senior executives will discuss the Company’s most recent advancements in its fuel cell products and systems, business activities in markets across the U.S., Europe, and Asia, and hydrogen development projects.
Webcast Details
The Investor Day event will include presentations and a Q&A session. To access the webcast, please visit: https://event.on24.com/wcc/r/3815829/BDF38706A8E399AEE45E339A8CD026A2. To submit questions please email to This email address is being protected from spambots. You need JavaScript enabled to view it., prior to the Investor Day.
“The Advent team looks forward to providing investors, partners, customers, and employees with a deep dive into the vision, technology, and market developments in the hydrogen and fuel cell economy,” said Dr. Vasilis Gregoriou, Chairman of the Board and CEO of Advent.
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 150 patents issued, pending, and licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions – offering a flexible “Any Fuel. Anywhere.” option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance Advent’s corporate reputation and brand; expectations concerning its relationships and actions with technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in Advent’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 31, 2022, as well as the other information filed with the SEC. Investors are cautioned not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read Advent’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. Advent’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
Media Contacts:
Elisabeth Maragoula
Advent Technologies Holdings, Inc.
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Mike Stolyar
Crenshaw Communications
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Pairing zero-carbon nuclear energy with new technologies offers path to solving the climate crisis while maintaining energy security and grid reliability
WASHINGTON--(BUSINESS WIRE)--In an address to energy and climate leaders today, Constellation CEO Joe Dominguez said nuclear energy will play a central role in accelerating the transition to a clean-energy economy by providing a foundation of secure, carbon-free energy to the grid and enabling new technologies, such as clean hydrogen to power difficult-to-decarbonize industries and direct air capture (DAC) systems, which remove carbon dioxide from the atmosphere. Nuclear energy’s unique ability to provide reliable, 24/7 clean energy also is critical to enhancing our nation’s energy security and grid reliability as global energy markets grapple with the devastating war in Ukraine and other challenges, he said.
“Concern in recent years about the future of nuclear energy has been replaced with a growing consensus among climate leaders and policymakers that maintaining and extending the life of our zero-carbon nuclear fleet is critical to solving the climate crisis and protecting our nation’s energy security,” Dominguez said. “We have begun to transition our nuclear sites into versatile clean energy centers that not only generate emissions-free power, but also bring together new technologies that help decarbonize the entire U.S. economy.”
The comments were part of a keynote address to participants in the Nuclear Energy Institute’s annual Nuclear Energy Assembly, which gathers climate leaders, energy industry professionals, policymakers and innovators to discuss key issues affecting the industry. The event was held at the Grand Hyatt Washington.
Constellation, the nation’s largest producer of carbon-free energy, launched as a standalone company in February with a nation-leading pledge to deliver 95 percent carbon-free electricity by 2030 and 100 percent by 2040. No other large power producer has made a pledge to reduce emissions to zero, without offsets, by that date. The company currently produces 10 percent of all clean energy on the grid in the U.S. with its zero-carbon fleet of nuclear, solar, wind and hydro power plants.
Constellation is pursuing multiple technologies to help customers lower emissions. The company received a U.S. Department of Energy (DOE) grant to test the benefits of using nuclear energy to produce hydrogen at its Nine Mile Nuclear Station on Oswego, N.Y. The company is installing a proton exchange membrane (PEM) electrolyzer that will separate the hydrogen and oxygen molecules in water, resulting in carbon-free hydrogen. Sustainable fuels and other products produced with hydrogen hold the key to decarbonizing industries and processes that defy easy climate solutions, such as long-haul shipping, agriculture, steelmaking and aviation, among others. Constellation is seeking to expand hydrogen production to other plants in its fleet as part of a broader DOE effort to develop the hydrogen economy, and is exploring ways to reduce emissions at its fossil plants by blending clean hydrogen with natural gas.
The company received a separate DOE grant in April to explore the potential for direct air capture technology at the company’s Byron nuclear plant in Northern Illinois. While nuclear plants produce no carbon emissions, direct air capture technology captures carbon dioxide directly from the atmosphere, a possible next-generation technology to combat the climate crisis. The technology will leverage the plant’s 495-foot-tall hyberbolic cooling towers. A special solution would be added to water flowing through the facility’s main condenser on the non-nuclear side of the plant. After traveling through the condenser, the water would travel out to the cooling towers, where carbon dioxide in the air will attach itself to the water solution and become captured and sequestered for later use, potentially in industrial processes that will have net zero emissions, ranging from creating sustainable aviation fuel to producing carbonation for the beverage industry.
Among its other climate initiatives, Constellation has partnered with Microsoft on the development of a 24/7/365 carbon-free energy matching technology that will help customers achieve true zero emissions, as opposed to the current practice of annualizing renewable energy certificates and credits. The product will match a customer’s energy needs with local, carbon-free energy sources on an hour-by-hour basis. As part of the agreement, Microsoft will create software that gives customers a transparent and independently verified view of their sustainability efforts.
Video of Dominguez’s remarks can be found here.
About Constellation
Constellation Energy Corporation (Nasdaq: CEG) is the nation’s largest producer of clean, carbon-free energy and a leading supplier of energy products and services to millions of homes, institutional customers, the public sector, community aggregations and businesses, including three fourths of Fortune 100 companies. A Fortune 200 company headquartered in Baltimore, our fleet of nuclear, hydro, wind and solar generation facilities powers more than 20 million homes, providing 10 percent of all carbon-free energy on the grid in the U.S. Our fleet is helping to accelerate the nation’s transition to clean energy with more than 32,400 megawatts of capacity and annual output that is nearly 90 percent carbon-free. We have set a goal to achieve 100 percent carbon-free power generation by 2040 by leveraging innovative technology and enhancing our diverse mix of hydro, wind and solar resources paired with the nation’s largest nuclear fleet. Follow Constellation on Twitter @ConstellationEG.
Paul Adams
Corporate Communications
410-470-4167
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