DENVER--(BUSINESS WIRE)--CoreSite, the leading hybrid IT solutions provider and subsidiary of American Tower Corporation (NYSE: AMT) (“American Tower”), today announced new senior leadership appointments effective immediately. This new executive management structure is designed to position the company for accelerated growth, while continuing to provide the native digital supply chain its valued enterprise, network, cloud and service integrator customers have come to depend on.
CoreSite is now led by Juan Font, President of CoreSite and SVP of American Tower, reporting to Steve Vondran, Executive Vice President and President, U.S. Tower Division of American Tower (“U.S. Tower”). Font is responsible for leading CoreSite’s strategy, innovation and growth while delivering value to the customers, partners, shareholders, and communities where CoreSite and American Tower operate. He has held positions of increasing responsibility within the organization since 2010 and brings more than 20 years of experience in general management, direct sales, business operations and finance in the data center and telecommunications industries. Font will operate CoreSite as a standalone entity within U.S. Tower.
“In the short time that I’ve gotten to know Juan, I’ve been impressed by his passion for the CoreSite team and business, as well as the depth and breadth of his experience. I am very excited about the future of CoreSite as part of American Tower and look forward to working with Juan, and his newly appointed senior leadership team, to build on CoreSite’s impressive track record”, stated Vondran.
CoreSite’s recently appointed senior leadership team is comprised of:
Adam Post and Mark Jones are new to the leadership team and will take on leadership oversight for several functions including acquisitions, investor relations, procurement, and internal audit.
Janae Walker is currently a member of the American Tower legal team and joins CoreSite’s senior leadership team with overall responsibility for the CoreSite legal function. She served as the lead attorney on the CoreSite transaction and brings experience with American Tower to the CoreSite team.
Matt Gleason is newly appointed to the leadership team and is responsible for the general management function as well as providing oversight for sales engineering and capacity inventory management functions.
Maile Kaiser broadens her responsibility on the leadership team with oversight of marketing, sales operations, and the solutions architects in addition to maintaining responsibility for the CoreSite sales organization.
“I am proud to lead CoreSite, and my newly appointed leadership team, into our exciting next chapter. The acquisition of CoreSite by American Tower enables us to create a differentiated, comprehensive, and interconnected communications real estate platform optimally positioned to benefit from the convergence of wireline and wireless networks amid accelerating global 5G deployments. This will allow us to continue to deliver on our commitment to future-proof our customers’ digital transformation strategies now – and well into the future,” stated Font.
Other Highlights
About CoreSite
CoreSite Realty Corporation, an American Tower company (NYSE: AMT), provides hybrid IT solutions that empower enterprises, cloud, network, and IT service providers to monetize and future-proof their digital business. Our highly interconnected data center campuses offer a native digital supply chain featuring direct cloud onramps to enable our customers to build customized hybrid IT infrastructure and accelerate digital transformation. For more than 20 years, CoreSite’s team of technical experts have partnered with customers to optimize operations, elevate customer experience, dynamically scale, and leverage data to gain competitive edge. For more information, visit CoreSite.com and follow us on LinkedIn and Twitter.
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “pro forma,” “estimates” or “anticipates” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond CoreSite’s control that may cause actual results to differ significantly from those expressed in any forward-looking statement. These risks include, without limitation: the geographic concentration of the Company’s data centers in certain markets and any adverse developments in local economic conditions or the level of supply of or demand for data center space in these markets; fluctuations in interest rates and increased operating costs; difficulties in identifying properties to acquire and completing acquisitions; significant industry competition, including indirect competition from cloud service providers; failure to obtain necessary outside financing; the ability to service existing debt; the failure to qualify or maintain its status as a REIT; financial market fluctuations; changes in real estate and zoning laws and increases in real property tax rates; the effects on our business operations, demand for our services and general economic conditions resulting from the spread of the Novel Coronavirus (“COVID-19”) in our markets, as well as orders, directives and legislative action by local, state and federal governments in response to such spread of COVID-19; and other factors affecting the real estate industry generally. All forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in its most recent annual report on Form 10-K, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission.
CoreSite
Megan Ruszkowski
Vice President of Marketing
720-446-2014
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DUBLIN--(BUSINESS WIRE)--The "Global Oil and Gas Construction Projects, 2021 Update" report has been added to ResearchAndMarkets.com's offering.
The publisher is currently tracking oil and gas construction projects with a total value of US$3.52 trillion at all stages from announced to execution.
This pipeline mostly comprises production facilities, liquefaction plants, refineries, pipelines, and storage tanks. In terms of the current project pipeline value, the Middle East and Africa has the largest share, with its total of US$1.23 trillion accounting for nearly 35% of the global pipeline - ahead of the Asia-Pacific with 28% (US$1 trillion) and Americas with a 26% share (US$943 billion).
The pipeline in Europe is relatively small, totaling US$342 billion
Scope
Reasons to Buy
Key Topics Covered:
1. Global Overview
2. Regional Overviews
2.1 Americas
2.2 Asia-Pacific
2.3 Europe
2.4 Middle East and Africa
3. Project Analytics by Country
3.1 The US
3.2 Canada
3.3 Brazil
3.4 India
3.5 Russia
3.6 Iraq
3.7 Iran
3.8 Nigeria
3.9 Australia
3.10 Indonesia
4. Construction
For more information about this report visit https://www.researchandmarkets.com/r/qkflql
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Purchase of share of 92-megawatt wind project in southwestern Wisconsin will happen after construction is completed
MADISON, Wis.--(BUSINESS WIRE)--Madison Gas and Electric (MGE), in partnership with Wisconsin Public Service (WPS), a subsidiary of WEC Energy Group, received approval from the Public Service Commission of Wisconsin (PSCW) to purchase part of the Red Barn Wind Farm. MGE will own 9.1 megawatts (MW) of the 92-MW wind farm that will be built in the Towns of Wingville and Clifton in Grant County.
"The Red Barn Wind Farm will help MGE to meet future energy and capacity needs cost-effectively as we continue our ongoing transition to a more sustainable energy supply. We are working every day toward net-zero carbon electricity by 2050 for all our customers," said Jeff Keebler, MGE Chairman, President and CEO. "We have said since announcing our net-zero goal, if we can go further faster through partnerships with our customers and the evolution of new technologies, we will."
The Red Barn Wind Farm will be developed by PRC Wind and constructed by ALLETE Clean Energy. The approximately 12,000-acre project will feature 28 turbines. WPS will own the remaining 82.5 MW.
Construction is expected to begin this year, and the Red Barn Wind Farm is expected to begin serving customers by the end of the year. The project is expected to generate enough clean energy to power approximately 40,000 households. MGE's share of the project will power about 4,000 households.
Working toward net‐zero carbon electricity
MGE has reduced its carbon emissions 30% since 2005 and expects to achieve carbon reductions of at least 65% by 2030, consistent with global climate science to limit global warming. MGE continues to transition its energy supply to cleaner sources, with the anticipated addition of nearly 400 MW of wind, solar and battery storage between 2015 and 2024.
In May 2019, MGE announced its goal of net-zero carbon electricity by 2050, making it one of the first utilities in the nation to commit to net-zero carbon by mid-century. MGE's net-zero goal is consistent with climate science from the Intergovernmental Panel on Climate Change (IPCC) October 2018 Special Report on limiting global warming to 1.5 degrees Celsius. To achieve deep decarbonization, MGE is growing its use of renewable energy, engaging customers around energy efficiency and working to electrify transportation, all of which are key strategies identified by the IPCC.
About MGE
MGE generates and distributes electricity to 157,000 customers in Dane County, Wis., and purchases and distributes natural gas to 166,000 customers in seven south-central and western Wisconsin counties. MGE's parent company is MGE Energy, Inc. The company's roots in the Madison area date back more than 150 years.
Steve Schultz
Corporate Communications Manager
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- Hyundai Heavy Industries (HHI) Group and Palantir Technologies to establish a big data platform for HHI Group’s core businesses
- Palantir Technologies and Hyundai Heavy Industries plan to form a joint venture to commercialize big data solutions
- Hyundai Heavy Industries will deploy Palantir Foundry
DENVER & SEOUL, South Korea--(BUSINESS WIRE)--Hyundai Heavy Industries (HHI) Group and Palantir Technologies Inc. (Palantir, NYSE: PLTR), a leading builder of operating systems for the modern enterprise, will collaborate to build a big data platform for HHI’s core businesses, including shipbuilding and offshore engineering. The two parties will also consider establishing a joint venture to promote the big data platform business in the mid- to long-term.
HHI Group and Palantir signed a memorandum of understanding on January 4 for the establishment of the big data platform and a joint venture. The signing event was held in a hybrid online and offline format one day before “CES 2022” and was attended by Kisun Chung, CEO of Hyundai Heavy Industries Holdings; Young-cheul Cho, CEO of Hyundai Doosan Infracore; Seok Cho, CEO of Hyundai Electric; as well as chief executives from Palantir Technologies.
Based on the agreement, HHI Group and Palantir will jointly build a big data platform for the Group’s key affiliates related to shipbuilding & offshore engineering, energy, and industrial machinery. HHI Group will provide the affiliates’ process expertise and sales know-how whereas Palantir will offer software and development personnel.
Once the big data platform for each affiliate is built, the two parties plan to create a joint venture that specializes in developing and selling big data platform services. Based on the accumulated achievements, the joint venture will commercialize big data solutions from platform construction to operation to generate sales targeting domestic and foreign companies.
Hyundai Heavy Industries, a shipbuilding and offshore engineering affiliate of HHI Group, is working on the “Future of Shipyard (FOS)” project to transform itself into a smart shipyard, the first of its kind in the world, by 2030. All processes from design to production are connected in real time to build a shipyard that enables smart work management where Palantir’s Foundry data platform is applied.
The big data platform will also be adopted by energy affiliates, such as Hyundai Oilbank. The energy company plans to build a platform at its plant in Daesan, South Chungcheong Province, South Korea, for five years from this year with a strategy to maximize process efficiency by integrating more than 100 production management systems into one.
Hyundai Doosan Infracore, an affiliate of industrial machinery, already developed “DI 360,” a big data collaboration platform, with Palantir Technologies in 2019, and is currently using it to manage its parts supply chain, handle on-site quality claim issues, and seize sales opportunities. HHI Group and Palantir Technologies are also planning to consider building a platform for other affiliates, such as Hyundai Construction Equipment.
Kisun Chung, CEO of Hyundai Heavy Industries Holdings, said, “We expect that this partnership with Palantir Technologies will substantially improve the competitiveness of core businesses of the Group. It will be an important turning point in innovation of organizational culture that changes the way we work using data.”
“HHI Group shaped one of the most significant industries of the twentieth century and is absolutely vital to the lives we lead,” said Alexander C. Karp, co-founder and chief executive officer of Palantir Technologies Inc. “We are deeply grateful for the opportunity to partner with a company that is not only a leader among the world’s industrial giants but one whose continued growth and success are critical to our collective welfare and security.”
About Palantir Technologies Inc.
Palantir Technologies Inc. builds and deploys operating systems for the modern enterprise. Additional information is available at https://www.palantir.com.
Who dares, wins.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir Technologies’ expectations regarding the terms and the expected benefits of the partnership and the expected benefits of Palantir Technologies’ software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond Palantir Technologies’ control. These risks and uncertainties include Palantir Technologies’ ability to meet the unique needs of its customers; the failure of its platforms to satisfy its customers or perform as desired; the frequency or severity of any software and implementation errors; the reliability of Palantir Technologies’ platforms; the terms and conditions of any commercial agreements or relationships; and the ability of Palantir Technologies’ customers to modify or terminate their contracts. Additional information regarding these and other risks and uncertainties is included in the filings Palantir Technologies makes with the U.S. Securities and Exchange Commission from time to time. Except as required by law, Palantir Technologies does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
Lisa Gordon
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BELOIT, Wis.--(BUSINESS WIRE)--#FMD--Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (“Arcline”), today announced its acquisition of Federal Equipment Company (FEC). The acquisition significantly expands FMD’s product capabilities and service solutions for shipyard, defense, and industrial customers – with emphasis on its support for and offerings to the U.S. Nuclear Navy.
The transaction includes FEC Military, a global leader in designing and manufacturing mission-critical components and systems for the U.S. Navy and U.S. Coast Guard, including its advanced cargo elevators, engineered doors and specialized material handling equipment. The transaction also includes FEC’s commercial business, which delivers handling solutions to manufacturing customers outside the defense market.
“Fairbanks Morse Defense is committed to the values that define us as a leading defense contractor. The capabilities, experience, and quality reputation that we’re acquiring with FEC reinforce this commitment and solidify our position as a proven, single-source provider to our naval customers,” said FMD CEO George Whittier. “Both FEC and Fairbanks Morse Defense have highly experienced teams who understand the critical role that our customers play in protecting the nation, and they are all dedicated to delivering the highest quality service in support of that mission. Combining our knowledge and capabilities makes us a powerful asset for the defense industry.”
The FEC acquisition adds extensive capabilities to FMD, solidifying Fairbanks Morse Defense’s position as an integrated defense contractor and turnkey solutions provider to the U.S. Navy and U.S. Coast Guard. In recent years, FMD has completed multiple acquisitions to better serve defense customers, including its acquisitions of Hunt Valve Company, Ward Leonard, and Welin Lambie.
Founded in Ohio in 1982, FEC has approximately 145 employees. The company is headquartered on its campus near Cincinnati, Ohio, which includes two facilities totaling 100,000 square feet. In addition, FEC has begun construction on a 50,000 square foot facility, which will further increase its manufacturing capacity and capabilities. This building is expected to open in mid-2022.
“Through the process of designing and creating the systems for today’s and tomorrow’s marine fleets, we’re proud to have earned a reputation for successfully taking on some of the most difficult engineering and manufacturing challenges for the Navy, Marines, and the Coast Guard,” said FEC President Doug Ridenour. “Fairbanks Morse Defense has earned a similar reputation for excellence in the defense industry, which makes this a great fit for both companies.”
About Fairbanks Morse Defense (FMD)
Fairbanks Morse Defense (FMD) builds, maintains, and services the most trusted naval power and propulsion systems on the planet. For more than 100 years, FMD has been a principal supplier of a growing array of leading marine technologies, OEM parts, and turnkey services to the U.S. Navy, U.S. Coast Guard, Military Sealift Command, and Canadian Coast Guard. FMD stands ready to rapidly support the systems that power military fleets without compromising safety or quality. In times of peace and war, the experienced engineers, sailors, and technicians of FMD demonstrate our commitment to supporting the mission and vision of critical global naval operations wherever and whenever needed. FMD is a portfolio company of Arcline Investment Management.
To learn more, visit www.FairbanksMorseDefense.com.
About Federal Equipment Company (FEC)
Federal Equipment Company (FEC) was incorporated in Ohio in 1982 as a partnership of experienced shipboard equipment engineers and technical experts in specialized material handling equipment. Working closely with the many domestic shipyards for their various projects, the company grew with the added benefit of the expansive machining capabilities located in and around the Ohio Valley Area. Since then, the company has vastly expanded its capabilities and geographic presence, emerging as an internationally recognized organization.
Fairbanks Morse Media Contact:
Mercom Communications
Michelle Hargis
Tel: 512-215-4452
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VALLEY FORGE, Pa.--(BUSINESS WIRE)--#RenewableEthanol--UGI Corporation (NYSE: UGI) announced today that it has entered into a 15-year agreement with California-based technology developer, Vertimass, to utilize their catalytic technology to produce renewable fuels from renewable-ethanol in the U.S. and Europe.
The agreement centers on the development of production facilities using Vertimass’ catalytic technology to convert renewable ethanol into renewable-propane and sustainable aviation fuel (SAF). The technology enables flexible production of the renewable fuels to align with regional market demand. Up to 50% of the total production capacity from the facilities can be renewable-propane that will support UGI’s ongoing efforts to provide innovative, low-carbon, sustainable energy solutions to its customers.
UGI expects to invest either solely, jointly with Vertimass or in partnership with third parties to build and operate multiple production facilities over the next 15 years in locations across the U.S. and Europe, significantly increasing the supply of renewable-propane and SAF. UGI anticipates a total investment of roughly $500 million for the bolt-on production facilities over a 15-year period, including potential third party investment, with total production target from these aggregated facilities of approximately 1 billion gallons of combined renewable fuels per annum. The goal is to have the first production facility onstream in fiscal year 2024 with an annual production target of approximately 50 million gallons of combined renewable fuels.
Vertimass employs catalytic technology to convert renewable ethanol and other renewable alcohols into renewable hydrocarbon fuels that are compatible with the existing equipment and infrastructure. This technology can be bolted on to existing ethanol production facilities, optimizing GHG emissions reduction, and bringing further end product diversification to the existing ethanol producer. The introduction of such ethanol-based “bio-refineries” is an attractive proposition for skilled job development and the opportunity to further drive energy independence using local resources.
“This is another significant milestone in our commitment to providing renewable fuels to our customers,” said Roger Perreault, President and Chief Executive Officer of UGI Corporation. “Our business development team continues to seek out innovative opportunities and I am delighted with our newly established partnership with Vertimass. We believe this partnership will deliver significant renewable LPG for our customers as well as bring investment opportunity to interested stakeholders.”
Charles Wyman, Vertimass President and Chief Executive Officer, continued “Vertimass is extremely excited to work with UGI to commercialize our breakthrough technology. UGI and Vertimass have built strong relationships over the last year, which we believe will cement success.” Bill Shopoff, Vertimass Chair, noted “Together we will take advantage of this unique low-cost technology to transform ethanol facilities and produce renewable fuels that will cover UGI’s global footprint, as well as enable the production of SAF.”
More About the Technology
Vertimass is developing a unique Consolidated Alcohol Deoxygenation and Oligomerization (CADO) technology to allow ethanol producers to 1) produce sustainable aviation fuel (SAF) and diesel blendstocks that are compatible with the current transportation fuel infrastructure as well as LPG (liquified petroleum gases, mainly propane and butane), 2) eliminate the ethanol “blend wall” by converting ethanol into fungible gasoline components for powering light duty vehicles, 3) produce intermediates used to make plastics and other higher value products, and 4) possibly debottleneck processes to increase throughput with little additional costs other than for feedstock. CADO completely converts wet ethanol (and other alcohols) into targeted hydrocarbons in a simple reactor system at moderate temperatures and near atmospheric pressure without adding hydrogen. Other benefits include the ability to lower plant water usage, reduce overall energy consumption, and drop GHG emissions to levels required for the Renewable Fuel Standard (RFS) Advanced Biofuel category.
Introduction to Renewable-LPG (Renewable Propane)
Renewable LPG, also known as renewable-propane, is chemically identical to today’s fossil LPG (C3H8) and therefore can be used with existing infrastructure. It has up to 80% lower carbon footprint than that of conventional LPG.
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania and West Virginia, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas in the eastern region of the United States and California, and internationally in France, Belgium, the Netherlands and the UK.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
About Vertimass
Vertimass LLC is based in Irvine, California. The mission of Vertimass LLC is to develop and widely license breakthrough technologies that substantially expand production of sustainable transportation fuels and chemicals that reduce greenhouse gas emissions and improve energy security and domestic economies. Commercialization of proprietary Vertimass technology can overcome the blend wall that currently impedes expansion of ethanol production from multiple sources of biomass and open up large new markets for aircraft and heavy-duty vehicle fuels and for chemicals not currently amenable to ethanol.
For more information, visit http://www.vertimass.com/.
This is neither an offer to sell nor a solicitation of an offer to buy any security. Such an offer may only be made by means of an offering document that must accompany or precede this information. There is no assurance that this strategy will succeed to meet its objectives. An investment in this type of product involves a high degree of risk including loss of investment, and is illiquid with an uncertain illiquidity date. Securities offered through Shopoff Securities, Inc. Member FINRA/SIPC.
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Melissa Maycott
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LAS VEGAS--(BUSINESS WIRE)--Wallbox (NYSE:WBX), a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, announced the expansion of its digital presence of CES to bring CES2022 and its innovations to the living rooms of technology enthusiasts around the world.
As part of its digital campaign the company has transformed the in-person immersive experience available at its 3000 square feet booth at CES into a virtual reality (VR) and 360 degree experience that can be viewed for free on their Youtube channel. The VR experience showcases the scope of technology and innovation that Wallbox is presenting in person at CES and is designed to allow people to see how its next generation technology can change the user's day-to-day life.
“Innovation can be hard to explain in words, so we really wanted to show people what we are doing. Our virtual reality experience allows people to understand how these relatively new technologies like vehicle to home (V2H) or sustainable energy management work in real life situations.” said Bárbara Calixto, CMO of Wallbox.
The company also plans to produce daily content to share more of what’s happening at the show with home viewers. Part of this content will be dedicated to presenting the two latest pieces of hardware being unveiled at the event.
Copper 2 - Wallbox will present its latest Business charger for the European market. With 22kW charging power, Copper 2 has been rigorously designed to close the gap in business charging needs, bringing a new take on Business EV charging. The new charger addresses companies’, installers’ and drivers’ need for more robust and reliable chargers, that are user-centric and come with energy management, installation and maintenance options. Copper 2 is expected to begin production in Q3 2022.
Quasar 2 - the latest generation of its bidirectional home charger designed specifically for the North American market. As well as enabling EV owners to charge and discharge their electric vehicle to power their home or the grid, Wallbox’s latest innovation is designed to give EV drivers the ability to isolate their home from the grid and use their EV for backup power during a blackout.
“Wallbox continues to innovate pioneer technologies that make it easier for consumers all over the world to choose and adopt electric driving and the use of renewable energy in their daily lives. Quasar 2 and Copper 2 are our latest products designed to respond to the needs we anticipate as millions of people are expected to make this transition,” said Enric Asunción, CEO and co-founder of Wallbox. “We want to get people excited about our technology and show them how it is changing the way the world uses energy”
Through their digital content, the company will also give viewers insight into the design process behind Wallbox products, for which the company has been presented with many awards, including at CES2020. The company also plans to offer a tour of some of the hottest trends in the electric vehicle space at CES this year.
“CES is an opportunity for the tech community to showcase where technology is headed,” said Barbara Calixto, Chief Marketing Officer for Wallbox. “It’s an important event globally, and we wanted to ensure that we could share the experience with as many people as possible and get them excited for the future of EV charging and energy.”
Where to find Wallbox
Viewers can see Wallbox’s product unveilings, a guided tour of their booth and more through their official Youtube channel, Linkedin, Twitter, Instagram, and their CES2022 landing page.
For those attending CES2022 in person, Wallbox can be found in the West Hall 6627 of the Las Vegas Convention Center.
About Wallbox
Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine users' relationship to the grid. Wallbox goes beyond electric vehicle charging to give users the power to control their consumption, save money, and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public and public use in more than 80 countries.
Founded in 2015 and headquartered in Barcelona, the company now employs over 700 people in its offices in Europe, Asia, and the Americas.
For additional information, please visit www.wallbox.com.
Wallbox Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the content to be produced during the CES. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "believe," "may," "can," "should," "could," "might," "plan," "possible," "project," "strive," "budget," "forecast," "expect," "intend," "will," "estimate," "predict," "potential," "continue" or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that statement is not forward-looking. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking.
These forward-looking statements are based on management’s current expectations and beliefs. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause Wallbox’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to the factors discussed under the caption "Risk Factors" in Wallbox’s final prospectus on Form 424(b)(3) filed with the SEC on November 12, 2021, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at investors.wallbox.com.
These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.
Sara Long
Spark for Wallbox
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KENNESAW, Ga.--(BUSINESS WIRE)--The Yamaha Rightwaters plastics recycling program returned more than 10,000 pounds of Polyethylene and Polypropylene sheet plastics back to base materials during 2021, proving a pilot concept the sustainability initiative hopes to expand in 2022. Yamaha Rightwaters announced the program in August and continues to work with Nexus® of Atlanta, Georgia and Tommy Nobis Enterprises® of Marietta, Georgia, to develop a larger national program intended to reduce plastic waste in America’s waterways.
“Polyethylene and Polypropylene constitute a substantial portion of the plastic in our oceans harming fish populations. This pilot program proves these plastics can be broken down in a cost-effective manner that Yamaha Rightwaters can potentially replicate on a national level,” said Martin Peters, the Government Relations Division Manager for the Yamaha U.S. Marine Business Unit. “It also demonstrates that Yamaha builder and dealer partners are willing to become active participants in the program, further underscoring a marine industry commitment to conservation and sustainability.”
Yamaha developed a reverse logistics program to return the protective covers from select boat builders, retail dealers and its three boat production facilities. The sheet plastic used in the pilot program comes from protective boat covers at Contender Boats, Regulator Marine, Xpress Boats, Yamaha Jet Boat Manufacturing (YJBM), Skeeter and G3 Boats.
The materials ship to Tommy Nobis Enterprises, which separates recyclable plastics from other materials, such as plastic zippers, cords and eyelets. Tommy Nobis Enterprises then ships the material - known as feedstock in the recycling industry - to Nexus® for processing into raw materials, which range from gasses to waxes. Those raw materials are used for other products.
Yamaha Rightwaters is a national sustainability program that encompasses all of Yamaha Marine’s conservation and water quality efforts. Program initiatives include habitat restoration, support for scientific research, mitigation of invasive species, the reduction of marine debris and environmental stewardship education. Yamaha Rightwaters reinforces Yamaha’s long-standing history of natural resource conservation, support of sustainable recreational fishing and water resources and Angler Code of Ethics, which requires pro anglers to adhere to principles of stewardship for all marine resources.
Yamaha’s U.S. Marine Business Unit, based in Kennesaw, Ga., is responsible for the sales, marketing, and distribution of Yamaha Marine products in the U.S. including Yamaha Outboards, Yamaha WaveRunners, Yamaha Boats, G3 Boats and Skeeter Boats. Supporting 2,400 dealers and boat builders nationwide, Yamaha is the industry leader in reliability, performance, technology and customer service.
Tommy Nobis Center is a Marietta-based nonprofit that helps individuals with disabilities enter or return to employment.
Nexus®, based in Atlanta, Ga., is an end-to-end plastics recycling business – an operational, commercially scaled, continuous system. The Nexus® plant in Atlanta is the first multi-polymer pyrolysis operation in the US to receive ISCC Plus™ certification. Nexus has developed a highly efficient system built at low capital cost and without a need for catalysts or post-processing, yielding clean, ISCC Plus™ on-specification outputs. Nexus® has converted more than 2.5 million pounds and counting of landfill-bound plastics into virgin resins for customers like Royal Dutch Shell and Chevron Phillips Chemical. Investors include Cox Enterprises®, a $21-billion family-owned business committed to global sustainability. The Nexus® process is efficient, environmentally friendly, and encompasses rigorous operational and business standards. The company’s operating philosophy is founded on the principle that for any recycling solution to succeed, it must be profitable, technically proven at scale, and operate as a robust stand-alone business, while creating a meaningful and positive environmental impact.
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EL DORADO, Ark.--(BUSINESS WIRE)--Murphy USA Inc. (NYSE: MUSA) will release preliminary fourth quarter 2021 earnings results after the market close on Wednesday, February 2, 2022, followed by a conference call at 10:00 a.m. CT on Thursday, February 3, 2022. Interested parties may participate by dialing 1-888-330-2384 and referencing conference ID number 6680883. The call can also be accessed via webcast through the Investor Relations section of Murphy USA’s website at http://ir.corporate.murphyusa.com. The webcast will be available for replay one hour after the conference concludes and a transcript will be made available shortly thereafter.
About Murphy USA
Murphy USA (NYSE: MUSA) is a leading retailer of gasoline and convenience merchandise with more than 1,650 stores located primarily in the Southwest, Southeast, Midwest and Northeast United States. The company and its team of nearly 15,000 employees serve an estimated two million customers each day through its network of retail gasoline and convenience stores in 27 states. The majority of Murphy USA's stores are located in close proximity to Walmart Supercenters. The company also markets gasoline and other products at standalone stores under the Murphy Express and QuickChek brands. Murphy USA ranks 322 among Fortune 500 companies.
Source: Murphy USA Inc. (NYSE: MUSA)
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OSC founder Jon M. Williams steps down as CEO and President of OSC Holdings, Inc. to focus on point-of-use lithium-ion battery technology company Viridi Parente, Inc.
BUFFALO, N.Y.--(BUSINESS WIRE)--#batterytechnology--OSC Holdings, Inc. (OSC) announces several executive appointments, including John W. Yensan as President and Chief Executive Officer (CEO). Yensan steps into the role held by OSC founder Jon M. Williams and will drive the company's strategy and oversee operations. Williams will remain on the OSC Board but is shifting his responsibilities to facilitate the rapid growth and expansion of Viridi Parente, Inc. (Viridi), the point-of-use battery technology company he established in 2010.
Click here for images of John W. Yensan and Jon M. Williams
"I will always be part of OSC, but now is the right time for me to focus on Viridi and the fail-safe point-of-use lithium-ion battery technologies that the company is bringing to the market in 2022," said Williams. "I've worked with John Yensan over the last 25 years, and I have no doubt he is the right person to lead OSC into its next phase. I look forward to seeing how the company will grow and develop under the leadership of John and his executive team."
Yensan previously served as President of Ontario Specialty Contracting, Inc. (the U.S.-based specialty contracting group), working directly with Williams to ensure the successful delivery of projects throughout the Americas. Yensan combines more than 30 years of civil construction, environmental remediation, and brownfield redevelopment expertise. In his new role, Yensan will manage and oversee OSC Constructors, ULC (based in Mississauga, Ontario), OSC Equipment and Manufacturing Services, Inc. (based at 1001 East Delavan Ave., Buffalo N.Y.), and Ontario Specialty Contracting, Inc. (based at 140 Lee Street, Buffalo N.Y.)
"Jon has done an amazing job building OSC and leading it through an unprecedented journey of growth, especially during extreme market conditions that we have experienced over the past 25 years," said Yensan. "These are some big shoes to fill, but I'm certainly up to the challenge. With the support of this executive team, we are in a great position to build on the excellent reputation that Jon has established for OSC."
Founded in 1997 in Buffalo, N.Y., OSC has become one of North America's premier environmental contracting and brownfield redevelopment firms.
Additional members of the OSC executive team include the following:
Andrew Cappello, CFO – Andrew Cappello oversees all aspects of OSC's accounting and finance functions. Before joining the OSC team, Cappello worked for a large regional public accounting firm. He is a licensed Certified Public Accountant (CPA) in New York State.
Gil Nicolau, Vice President, OSC Constructors, ULC. – Gil Nicolau has over 15 years of experience in the contracting industry. Nicolau is the lead executive managing OSC’s Canadian operations. He has extensive experience in managing large, high-profile projects. His primary responsibilities include overall project management, allocation of equipment, manpower, scheduling, budgeting, and procurement.
Lenny Kostelnik, General Manager, OSC Manufacturing and Equipment Services – Lenny Kostelnik has over 35 years of management experience in the construction equipment industry. He is a decisive and effective manager who is skilled in leading cross-functional teams to meet customer demands and deadlines while producing high-quality products that exceed customers' expectations.
Daniel S. Flanigan, General Manager, Ontario Specialty Contracting, Inc. – Daniel S. Flanigan has over 20 years of experience in procuring and managing environmental and nuclear remediation, as well as industrial decommissioning. He has an excellent management ability to promote clear communication and establish a team approach between managers and clients to assure safe, successful, and timely project delivery.
Donald J. Wall, Vice President, Environmental Operations – Donald J. Wall brings with him more than two decades of management experience within the environmental construction and remediation industry. With over 250 projects successfully completed nationwide, Wall has the experience to deliver unrivaled excellence to OSC’s diverse customer base.
Alen Trpevski, Vice President, Industrial Decommissioning – During his 20 years with OSC, Alen Trpevski has demonstrated continued leadership in the areas of demolition, decommissioning and dismantlement, and related disciplines. He is responsible for estimating, project oversight and procurement.
Lawrence Pirrone MBA, Vice President, Brownfield Redevelopment – For 17 years with OSC, Lawrence Pirrone has taken numerous large-scale industrial sites from the decommissioning phase through full re-development, working in conjunction with outside engineering firms to find the highest and best use for the sites post-remediation.
Robert Wegrzyn, Vice President, Business Development – For more than 25 years, Robert Wegrzyn has established and maintained relationships with Fortune 500 companies, international industrial clients, and public and private entities throughout the U.S. on behalf of OSC.
In addition to the executive team, Heather A. Williams will continue serving as the Executive Director of the OSC Charitable Foundation. She manages, vets, selects, and interacts with the various non-profit institutions supported by the foundation.
About OSC Holdings, Inc.
OSC's mission statement today is the same as it was at its founding in 1997: provide the safest, most environmentally sound, and cost-effective solutions for our clients and their unique environmental challenges. To learn more, visit oscinc.com.
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WASHINGTON--(BUSINESS WIRE)--The world’s two largest economies—the United States and Mainland China—are poised to be the world’s top export and import markets for liquefied natural gas (LNG) in 2022, says a new report by IHS Markit, (NYSE: INFO), a world leader in critical information, analytics and solutions.
The report, entitled LNG Trade in 2021: Runaway Recovery finds that the United States, which was the third-largest LNG exporter behind Australia and Qatar for the full year of 2021, is poised to claim the top spot in 2022. The United States was the largest source of LNG supply growth in 2021, adding 25 million metric tons (MMt) amid continued buildup of liquefaction capacity as well as the ramping up of output from plants turned down the previous year. Average utilization for U.S. plants climbed from 43% in third quarter 2020 to 98% in third quarter 2021.
Meanwhile, Mainland China has already become the top global importer of LNG. Imports reached 81 MMt in 2021 (increase of 12.3 MMt or 18%), overtaking Japan where imports were flat year-over-year at 75 MMt. This marks the first time since the early 1970s that Japan has not been the world’s largest LNG importer.
“A new map of LNG is taking shape as 2021 became the year of rapid recovery, making the oversupply and price lows of 2020 seem like a distant memory,” said Michael Stoppard, chief strategist, global gas, IHS Markit. “It is a tale of two markets with China fueling the demand surge as the world’s top importer and the United States, poised to become the world’s leading exporter, providing the supply push.”
Among other key LNG trends observed in the report:
Additional Reference: IHS Markit’s headline 2021 LNG trade numbers
Total loaded LNG supply in 2021 reached 396.3 MMt, up 5.5% or 20.5 MMt relative to 2020. The largest LNG supplier in 2021 was Australia at 83.0 MMt (1% increase or 0.6 MMt), followed by Qatar at 81.3 MMt (2.0% increase or 1.6 MMt). The United States provided the largest supply growth with 25.3 MMt of additional LNG (52% increase), reaching 73.6 MMt.
Net delivered LNG trade* reached 381.9 MMt, up 5.8% or 21.0 MMt from prior year. The largest growth came from mainland China, propelling it to become the world’s largest LNG importer with 81.4 MMt (17.8% increase or 12.3 MMt). Japan fell to second place at 75.0 MMt (0.2% increase or 0.2 MMt), followed by South Korea at 46.4 MMt (13.6% increase or 5.6 MMt). The third largest growth in 2021 came from Brazil, which climbed by 5.1 MMt (210% increase) to reach 7.5 MMt.
For more information about the report LNG Trade in 2021: Runaway Recovery or about IHS Markit LNG research services visit https://ihsmarkit.com/products/LNG-market-outlook-demand-forecast.html
* Excluding re-exported cargoes and boil-off.
About IHS Markit (www.ihsmarkit.com)
IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2022 IHS Markit Ltd. All rights reserved.
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New investment subscription upsizes previously announced PIPE from $100 million to $150 million in conjunction with Energy Vault’s agreement to become a publicly-traded company through merger with Novus Capital Corporation II
Strategic partnership formed with Sun Metals, a wholly owned subsidiary of Korea Zinc, focused on future deployment beginning in mid-2022 of Energy Vault’s proprietary energy storage and energy management software technology to support decarbonization of Sun Metals’ zinc refinery operations
In conjunction with Korea Zinc’s $50 million PIPE commitment, approximately 90% of the minimum cash condition has been satisfied
LUGANO, Switzerland & WESTLAKE VILLAGE, Calif & SEOUL, South Korea & STUART, Australia--(BUSINESS WIRE)--Energy Vault, Inc. (Energy Vault), the company developing sustainable, grid-scale energy storage solutions, today announced a strategic partnership for renewable energy storage with Korea Zinc Co., Ltd. (“Korea Zinc”, KRX 010130) the global leader in non-ferrous metal smelting production including leading positions in Zinc, Lead, Silver and rare metal Indium. The partnership supports Korea Zinc’s strategy to decarbonize their refining and smelting operations focused initially under wholly owned subsidiary Sun Metals Corporation Pty. Ltd. (“Sun Metals”). The companies expect to begin project deployment in mid-2022.
Energy Vault Enters Into Strategic Partnership with Sun Metals
Sun Metals, an Australia-based zinc refinery and a wholly owned subsidiary of Korea Zinc, aims to deploy Energy Vault’s storage and energy management software technology to support renewable power supply and optimization to support their refining infrastructure. The scope of the partnership also includes the potential sustainable and beneficial re-use of tailings and other refining waste materials within Energy Vault’s eco-friendly composite blocks.
Sun Metals is targeting to become one of the first zinc refineries to produce “Green” Zinc in support of their broader strategy to shift to 100% renewable power by 2040 with an interim target of 80% renewable by 2030. Sun Metals’ mission is to be the safest, most environmentally-responsible, and most competitive zinc refinery in the world. In November 2020, the zinc refining leader joined the RE100 Climate Group initiative as part of its commitment to 100% renewable power by 2040. Korea Zinc recently announced Ark Energy Corporation Pty. Ltd. (“Ark Energy”), another wholly owned Australian subsidiary of Korea Zinc, will acquire a 100% interest in a leading utility-scale wind and solar energy developer (Epuron) in Australia which brings more than 9 GW of wind and solar projects with it that will play an important part in meeting or exceeding Sun Metals renewable power goals and supporting Ark Energy’s plans to become the most competitive producer of green hydrogen in the world. Sun Metals is currently the second largest consumer of electricity in Queensland, Australia with greater than 1 terawatt hours of consumption per annum.
“Energy Vault’s innovative storage technology and energy management software platform can play a key role in enabling and accelerating our decarbonization strategy as we enhance our ability to power our operations with renewable energy,” said Yun B. Choi, Vice Chairman of Korea Zinc.
“We are proud to partner with Korea Zinc and Sun Metals to broadly support their clean energy transition within their refining operations,” said Robert Piconi, CEO and Co-Founder, Energy Vault. “Korea Zinc has demonstrated tremendous global leadership as a company in setting aggressive decarbonization targets and then investing significant capital to make sustainable, decarbonized energy a reality for their operations, and that certainly is the case here with their investment in Energy Vault.”
“We look forward to collaborating with Energy Vault in pursuit of our goal to become the first refinery in the world to produce green zinc made entirely from renewable energy,” said Kiwon Park, CEO of Sun Metals. “As the second largest consumer of electricity in Queensland, Sun Metals has a strong focus on being both environmentally responsible and the most competitive zinc refinery in the world.”
New Investment from Korea Zinc Upsizes Novus Capital Corporation II PIPE to $150 Million
In conjunction with its previously announced business combination with Novus Capital Corporation II (NYSE:NXU), Energy Vault announced a $100 million private placement (“PIPE”) investment. In addition to the strategic partnership announced today, Korea Zinc has executed a subscription agreement committing a $50 million investment to Novus’s PIPE.
The new commitment announced today brings proceeds from the PIPE transaction to $150 million. These proceeds, combined with up to $288 million in Novus’s cash trust account, will be used to fund Energy Vault’s operations and support new and existing growth initiatives. Additionally, as a result of this increased PIPE investment, approximately 90% of the minimum cash condition has been satisfied.
Mr. Choi continued, “Our investment in Energy Vault underscores our commitment to advancing the production of metals that are essential for human life in a sustainable way.”
Mr. Piconi added, “This investment from one of the world’s largest metal producers and our partnership agreement with Sun Metals will further accelerate the global scale-up of our innovative energy storage infrastructure and software platform within one of the most important global markets of Australia. Importantly, with the majority of the minimum cash condition satisfied, it also significantly enhances deal certainty, thus allowing the Energy Vault team to remain hyper focused on deployment execution across the globe.”
Korea Zinc joins several other leading investors committed to participate in the Business Combination by investing in the PIPE. The PIPE is anchored by strategic and institutional investors, including funds and accounts managed by Adage Capital Partners LP, Pickering Energy Partners, Sailingstone Capital Energy Transition Strategy Fund, SoftBank Investment Advisers, CEMEX Ventures (NYSE:CX), Palantir Technologies Inc., (NYSE:PLTR) and other investors. Affiliates and associates of Novus Capital also participated in the PIPE investment. This follows the recent Series C funding round previously announced on August 28, 2021 which closed at $107.5 million and included strategic investments from Saudi Aramco Energy Ventures, BHP Ventures, +Volta Energy Technologies and Softbank Vision Fund, among others.
Completion of Energy Vault’s Business Combination with Novus II Capital Corporation is expected in the first quarter of 2022 and is subject to approval by Novus’ stockholders, the Registration Statement being declared effective by the SEC, and other customary closing conditions.
About Energy Vault
Energy Vault develops sustainable energy storage solutions designed to transform the world’s approach to utility-scale energy storage for grid resiliency. Our proprietary gravity-based Energy Storage Technology and the Energy Storage Management and Integration Platform are intended to help utilities, independent power producers and large industrial energy users significantly reduce their levelized cost of energy while maintaining power reliability. Utilizing eco-friendly materials with the ability to integrate waste materials for beneficial re-use, Energy Vault is facilitating the shift to a circular economy while accelerating the clean energy transition for its customers.
Energy Vault previously announced an agreement for a business combination with Novus Capital Corporation II (NYSE:NXU), which is expected to result in Energy Vault becoming a public company listed on the New York Stock Exchange under the ticker symbols “NRGV” and “NRGV WS” in the first quarter of 2022, subject to customary closing conditions.
About Korea Zinc
Korea Zinc Co., Ltd. is a Korea-based world class general non-ferrous metal smelting company principally engaged in the manufacture and marketing of non-ferrous metal products. Korea Zinc owns and operates zinc smelters in Korea and Australia and a lead smelter in Korea and its metal products consist of zinc products, including zinc slab ingots, zinc alloy jumbo blocks, zinc anode ingots and zinc die-casting ingots and precious metal products, including gold and silver products. Korea Zinc is leading the world resource market as the global number one in terms of zinc production and market share.
In September 2021, Korea Zinc was the first major refiner in the world to join RE100 and commit to powering its global operations from 100% clean energy by 2050.
Sun Metals Corporation Pty Ltd
Sun Metals is an Australian subsidiary of Korea Zinc Company Limited. Its Zinc Refinery is located 15km south of the city of Townsville in North Queensland, Australia. Korea Zinc group is the largest base metals and precious metals producer in the world, who is considered to have the most advanced technologies of metals refining.
As Queensland’s biggest zinc refinery, Sun Metals produce a Special High-Grade Zinc. In 2018, Sun Metals completed the largest (125MW) integrated industrial used solar plant in Australia. This solar farm generates 24% of the electricity used by Sun Metals.
Sun Metals is committed to the community and is a strong contributor to the local economy. It employs over 350 staff and contractors, primarily from the local community.
Ark Energy Corporation Pty Ltd
Ark Energy was established in 2021 as a new Australian subsidiary of Korea Zinc to decarbonise the energy supply of the Korea Zinc group starting with Sun Metals, accelerating the group’s energy transition as it aims to produce ‘green’ zinc. Ark Energy recently acquired a 100% interest in Epuron Holdings Pty Ltd, a leading utility-scale wind and solar energy developer in Australia with a development pipeline of over 9GW.
Ark Energy is leveraging and expanding on the group’s existing investments across the hydrogen supply chain to become an extreme user, demand creator and major exporter of green hydrogen. Ark Energy’s SunHQ hydrogen hub is the first hydrogen project in Australia to be jointly supported by the Australian Renewable Energy Agency, the Clean Energy Finance Corporation and the Queensland Government. SunHQ has been granted development approval from the Queensland Government and is on track to be commissioned by December 2022.
About Novus Capital Corporation II
Novus raised approximately $287.5 million in its February 2021 IPO and its securities are listed on the NYSE under the ticker symbols “NYSE: NXU, NXU.U, NXU WS.” Novus is a special purpose acquisition company organized for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. Novus Capital is led by Robert J. Laikin, Jeff Foster, Hersch Klaff, Larry Paulson, Heather Goodman, Ron Sznaider and Vince Donargo, who have significant hands-on experience helping high-tech companies optimize their existing and new growth initiatives by exploiting insights from rich data assets and intellectual property that already exist within most high-tech companies.
Forward-Looking Statements
Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “designed,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics, projections of market opportunity, expectations and timing related to the rollout of Energy Vault’s business and timing of deployments, including with respect to EVS and its anticipated benefits and capacities, the proposed features and designs of the EVx and the Energy Vault Resiliency Center (EVRC) platforms, the availability of low-cost and locally sourced materials to produce “mobile masses,” customer growth and other business milestones, potential benefits of the proposed business combination and PIPE investment (the “Proposed Transactions”), and expectations related to the timing of the Proposed Transactions.
These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Energy Vault’s and Novus’ management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Energy Vault and Novus.
These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political, and legal conditions; the inability of the parties to successfully or timely consummate the Proposed Transactions, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the Proposed Transactions or that the approval of the stockholders of Novus or Energy Vault is not obtained; failure to realize the anticipated benefits of the Proposed Transactions; risks relating to the uncertainty of the projected financial information with respect to Energy Vault; risks related to the rollout of Energy Vault’s business and the timing of expected business milestones; risks related to the inability or unwillingness of Energy Vault’s customers to perform under sales agreements; risks related to Energy Vault’s the performance and availability of EVS; demand for renewable energy; ability to commercialize and sell its solution; ability to negotiate definitive contractual arrangements with potential customers; the impact of competitive technologies; ability to obtain sufficient supply of materials; the impact of Covid-19; global economic conditions; ability to meet installation schedules; construction and permitting delays and related increases in costs; the effects of competition on Energy Vault’s future business; the amount of redemption requests made by Novus’ public shareholders; and those factors discussed in the Registration Statement and in Novus’ Registration Statement on Form S-4 relating to the business combination under the caption “Risk Factors”, and its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 under the heading “Risk Factors,” and other documents of Novus filed, or to be filed, with the SEC.
Important Information About the Proposed Business Combination and Where to Find It
This communication is being made in respect of the proposed merger transaction involving Novus and Energy Vault. Novus has filed a registration statement on Form S-4 with the SEC, which includes a preliminary proxy statement/prospectus of Novus, and certain related documents, to be used at the meeting of stockholders to approve the proposed business combination and related matters. Investors and security holders of Novus are urged to read the proxy statement/prospectus, as well as any amendments thereto and other relevant documents that will be filed with the SEC, carefully and in their entirety because they contain important information about Energy Vault, Novus and the business combination. The definitive proxy statement will be mailed to stockholders of Novus as of a record date to be established for voting on the proposed business combination. Investors and security holders will also be able to obtain copies of the registration statement and other documents containing important information about each of the companies once such documents are filed with the SEC, without charge, at the SEC’s web site at www.sec.gov. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.
Participants in the Solicitation
Novus and its directors and executive officers may be deemed participants in the solicitation of proxies of Novus’ shareholders in connection with the proposed business combination. Energy Vault and its executive officers and directors may also be deemed participants in such solicitation. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of Novus’ executive officers and directors in the solicitation by reading Novus’ Annual Report on Form 10-K for the fiscal year ended December 31, 2020, Quarterly Report on Form 10-Q for the six months ended June 30, 2021 and the proxy statement/prospectus and other relevant documents and other materials filed with the SEC in connection with the business combination when they become available. Information concerning the interests of Novus’ participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the proxy statement/prospectus relating to the business combination when it becomes available.
No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction.
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Carolina Power Partners, LLC delivers reliable, low-cost energy to Appalachian State University’s New River Light & Power
BOONE, N.C.--(BUSINESS WIRE)--The new year marked a change in electric service providers for Appalachian State University’s electric utility, New River Light and Power (NRLP). Carolina Power Partners (CPP), the leading independent wholesale electric provider in the Carolinas, began delivering reliable, low-cost power to NRLP on January 1, 2022.
The university-owned electric utility is one of 12 utilities in the Carolinas to enter into a long-term power purchase agreement (PPA) with CPP. In each case, the communities opted to enter into an agreement with CPP because of its proven reliability, significant price savings and low emissions profile. CPP has long-term PPAs with three cities in South Carolina and nine in North Carolina.
“We are extremely proud to start our full requirement energy service for Appalachian State University,” said TJ Higgins, CPP’s Asset Manager. “We welcome them to the CPP family and are happy to deliver low-cost, clean and reliable energy to the university and NRLP’s 9,000 residential and commercial customers in the Boone community. We look forward to more communities throughout the Carolinas obtaining these same advantages.”
In 2021, App State Chancellor Sheri Everts announced that with the new NRLP purchase agreement with CPP, it will purchase hydroelectric power to increase its renewable energy purchase portfolio from just under 2% to 15%. The contract with CPP will also allow the university and NRLP to continue exploring additional renewable energy sources.
“It is important that NRLP provides safe and reliable utilities to our customers at affordable and competitive rates,” said Ed Miller, NRLP’s General Manager. “CPP is a Carolina-based company that owns one of the most efficient, state-of-the-art power generating facilities and has demonstrated success in other similar communities. After an extensive review by our team and advisors, we believe this new energy contract with CPP will help us continue to meet our core objectives, while also providing increased accessibility to renewable energy opportunities.”
CPP provides much of its energy to App State and New River through the Kings Mountain Energy Center, a 475-MW combined-cycle power plant capable of efficiently providing energy to approximately 400,000 homes. Asset management services for the facility are provided by Consolidated Asset Management Services.
About Carolina Power Partners
Carolina Power Partners provides reliable electricity to local towns, cities, and universities in North and South Carolina. Strategically located in the fast-growing southeastern region of the United States, CPP is positioned to provide energy to local communities to help them achieve their economic and environmental needs.
About Appalachian State University and New River Light & Power
For more than 100 years, Appalachian State University’s nonprofit electric utility NRLP has provided power to Western North Carolina. Today, NRLP serves nearly 9,000 residential and commercial customers in and around the Town of Boone. In partnership with App State’s Office of Sustainability, Facilities Operations department and the university’s student-led, student-funded Renewable Energy Initiative organization, NRLP has assisted with numerous energy efficiency projects across App State’s campus and supported renewable energy projects including installing solar panels and providing funding for the Broyhill Wind Turbine. The utility holds the American Public Power Association’s highest Reliable Public Power Provider (RP3) designation for providing reliable and safe electric service, and approximately $650,000 of its budget is reserved annually for contributions to Appalachian’s general scholarship fund.
TJ Higgins, CPP Asset Manager
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DENVER--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) announced today it is making a commitment of $250,000 to support relief efforts underway in the communities affected by the Boulder County wildfires.
“As a leading employer and partner in several Colorado communities, Chevron is committed to helping the region and our neighbors rebuild, recover and heal from the impact of the wildfires,” said Hodge Walker, vice president of Chevron’s Rockies Business Unit, which has operations in Weld County and offices located in both Denver and Greeley. “Our hearts go out to those who have lost their homes, including those within the Chevron family. There is significant recovery work to be done, and Chevron stands by our fellow Coloradans through this difficult time.”
American Red Cross will receive a $150,000 donation and the Community Foundation Boulder County Wildfire Fund will receive a $100,000 donation to support immediate relief efforts throughout impacted neighborhoods. In addition, the company will match qualifying donations to wildfire relief efforts made by employees and retirees, as well as provide financial contributions to organizations where employees volunteer. Together, this financial assistance aims to help Chevron’s employees, families, and local communities during this time of extreme need.
About Chevron Corporation
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.
Trudi Boyd (346) 363-9157
Deena McMullen (281) 733-9323
HOUSTON--(BUSINESS WIRE)--EnVen Energy Corporation announced today its execution of a drilling contract with a subsidiary of Transocean Inc. for the use of the Transocean Discoverer Inspiration, an ultra-deepwater drillship. EnVen has committed to one firm well with options for two additional wells and expects to take delivery of the drillship early in the third quarter of 2022.
“We are excited to again work with Transocean on the Discoverer Inspiration as we continue our infrastructure-led exploration program, consistent with our proactive and disciplined strategy to develop our deepwater portfolio. We have several robust prospects to drill that provide tremendous growth potential,” said Steve Weyel, EnVen’s Chairman and Chief Executive Officer.
About EnVen
EnVen is an independent oil and natural gas company engaged in the development, exploitation, exploration and acquisition of primarily oil properties in the deepwater region of the U.S. Gulf of Mexico.
Forward-looking Statements
This release contains forward-looking statements. When used in this release, the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on EnVen’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, EnVen disclaims any duty to update any forward-looking statements, all of which are expressly qualified by this statement, to reflect events or circumstances after the date of this release.
Investor Contact:
EnVen Energy Corporation
609 Main Street, Suite 3200
Houston, Texas 77002
713-335-7335
Media Relations Contact:
Linda Madden
Pierpont Communications
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NEW YORK--(BUSINESS WIRE)--The Metals Company (NASDAQ: TMC) (the “Company” or “TMC”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today announced the completion of its latest offshore research campaign, Environmental Expedition 5E, a targeted sampling campaign of both benthic and pelagic fauna with wider investigations to characterize ecosystem function on the abyssal seafloor.
The completion of the six-week expedition — the Company’s fifth environmental campaign in the last twelve months — marks the latest offshore campaign required to develop an environmental baseline of the Company’s proposed operating environment in the Clarion Clipperton Zone (CCZ) of the Pacific Ocean and characterize the potential impacts of its proposed nodule collection operations to source critical battery metals from deep-sea polymetallic nodules. In 2022, the Company will conduct an initial Prototype Collector Vehicle manoeuvrability test in the Atlantic Ocean, followed by pilot collection system trials in the CCZ later in the year.
Aboard the Maersk Launcher were researchers from some of the world’s leading marine science institutions including the UK National Oceanography Centre (NOC), Japan Agency for Marine-Earth Science & Marine Technology (JAMSTEC), Natural History Museum (London), Heriot-Watt University and the University of Gothenburg, who deployed a range of cutting-edge technologies including a Remotely Operated Vehicle (ROV) and an array of seafloor landers.
Over the course of more than 390 ROV operational hours, researchers from the UK National Oceanography Centre conducted visual observations of over 30-square-kilometers of seafloor, capturing more than 35,000 high-resolution images and extensive video data which will be used to identify megafauna at depths of 4,000 meters. Whereas prior campaigns utilized randomised boxcore sampling to obtain macrofaunal samples, the technologies used for Expedition 5E allowed the team to conduct highly targeted sampling of benthic macro and megafauna and to focus on species of particular scientific interest.
To explore the gelatinous communities that occupy the midwater column , the pelagic team led by JAMSTEC supplemented traditional sampling methods such as nets with ROV mounted video to conduct 130 video transects at various depths, and used specialized D-samplers and the ROV’s suction sampler to collect specimens.
A team led by Heriot-Watt University used an array of seafloor landers, including seabed respirometers and baited traps and cameras, to collect a wide range of data to assess ecosystem function on the abyssal seafloor. In total, just under 1,200 tissue and specimen samples were collected throughout the campaign, contributing to a variety of baseline studies including DNA and morphological taxonomy, population genetics, ecotoxicology and ecosystem function.
Gerard Barron, CEO & Chairman of The Metals Company, said: “With five research campaigns under our belts in the last twelve months, the all-star research teams we’ve brought together are helping build a high-resolution picture of the potential impacts of collecting nodules. This data will enable our engineering and project teams to optimize our activities for low impact and ensure that we lift the nodules to the surface with the lightest possible touch.”
Planet’s largest known source of battery metals
TMC’s NORI-D nodule project — recently ranked as the #1 nickel project in the world by Mining.com — is the first in the Company’s project development pipeline. In January, The Metals Company published an upward revision to the nodule resource reported within the NORI-D area held by its subsidiary, Nauru Ocean Resources Inc. (NORI), improving resource confidence from ‘inferred’ to ‘indicated’ status. Resource tonnage increased by 7% over the reported area from 320Mt inferred to 341Mt indicated. The positive conversion rates arising from infill sampling grid with quality box core sample data are high compared to the typical outcomes from infill sampling of terrestrial mineral deposits.
As countries invest in large-scale clean energy transition programs and begin to phase out internal combustion engines, hundreds of millions of tons of critical battery metals will be needed to decarbonize the world’s energy and transport systems, according to the International Energy Agency. As noted in a recent report by the International Renewable Energy Agency, polymetallic nodules can “substantially change the supply outlook for several critical materials,” including nickel and cobalt.
About The Metals Company
TMC the metals company Inc. (The Metals Company) is an explorer of lower-impact battery metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for the clean energy transition with the least possible negative environmental and social impact and (2) accelerate the transition to a circular metal economy. The company through its subsidiaries holds exploration rights to three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean regulated by the International Seabed Authority and sponsored by the governments of Nauru, Kiribati and the Kingdom of Tonga. More information is available at www.metals.co.
Forward Looking Statements
Certain statements made in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. The forward-looking statements contained in this press release include, without limitation, TMC’s expectations with respect to the success of its research campaign Environmental Expedition 5E, the results or outcomes of the campaigns and expeditions and the data generated during Environmental Expedition 5E respectively. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside TMC’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: regulatory uncertainties and the impact of government regulation and political instability on TMC’s resource activities; changes to any of the laws, rules, regulations or policies to which TMC is subject; the impact of extensive and costly environmental requirements on TMC’s operations; environmental liabilities; the impact of polymetallic nodule collection on biodiversity in the CCZ and recovery rates of impacted ecosystems; TMC’s ability to develop minerals in sufficient grade or quantities to justify commercial operations; the lack of development of seafloor polymetallic nodule deposit; uncertainty in the estimates for mineral resource calculations from certain contract areas and for the grade and quality of polymetallic nodule deposits; risks associated with natural hazards; uncertainty with respect to the specialized treatment and processing of polymetallic nodules that TMC may recover; risks associated with collective, development and processing operations; fluctuations in transportation costs; testing and manufacturing of equipment; risks associated with TMC’s limited operating history; the impact of the COVID-19 pandemic; risks associated with TMC’s intellectual property; and other risks and uncertainties, including those in the “Risk Factors” sections, included in the final prospectus and definitive proxy statement, dated and filed with the Securities and Exchange Commission (the “SEC”) on August 12, 2021 relating to the business combination, in TMC’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed by TMC with the SEC on November 15, 2021, and in TMC’s other future filings with the SEC. TMC cautions that the foregoing list of factors is not exclusive. TMC cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. TMC does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based except as required by law.
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HWASEONG, South Korea--(BUSINESS WIRE)--#AdvancedMaterial--ThermVac Inc., a developer of vacuum furnaces based in Korea, continues to develop a variety of ultra-high temperature furnaces that can be optimally applied to diverse types of materials, which are to be fired in the range of 2,500°C or higher ultra-high temperature. This is particularly relevant for high-quality graphite materials of which global demand is rapidly increasing in secondary battery, electric vehicle and photovoltaic industries.
With regard to graphitization treatment, as the competition to advance material properties becomes intense and the firing process requires a higher temperature than the current operation of 2,700~2,800°C, ThermVac has recently developed a resistance heating type of ultra-high temperature vacuum furnace which can stably operate under 3,000°C mass production process. They supplied it to company T, a carbon catalyst manufacturer. In case of over 2,800°C, the furnaces have conventionally been manufactured using the induction-heating method because resistance-heating type carbon heater is extremely consumed. In this case, however, the cost of the induction power device is excessive and the temperature in the hot zone is not uniform. This time, ThermVac has succeeded in lowering the temperature of the carbon heater as much as possible, securing the standard for a 3,000°C resistance-heating furnace that can stably maintain the life of the heater.
Meanwhile, ThermVac developed a two-chamber type graphitization furnace where the heating and cooling chambers are separated, and has tested the graphitization process for more than two years, securing the durability and stability of the equipment through complementary work. The commercialization model of the two-chamber graphitization furnace will be launched in the first half of 2022. This two-chamber furnace heats a product while maintaining the hot zone at 800°C to 2,400°C at all times, and then transfers it to the cooling chamber for rapid cooling. Thereby, the process cycle, which previously took 2 to 3 days, can be shortened to less than one day, and electricity consumption can be reduced to 60% or less.
In addition, with respect to carbon purification treatment, ThermVac is diversifying the types of furnaces into horizontal and vertical types. It is also developing related purification processes along with equipment types to be suitable for various graphite products such as graphite fibers and felts as well as bulk materials.
ThermVac
Inseok Choi
+82-10-2735-4944
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IRVING, Texas--(BUSINESS WIRE)--ExxonMobil today said it made two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana.
The Fangtooth-1 well encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoirs. The well was drilled in 6,030 feet (1,838 meters) of water and is located approximately 11 miles (18 kilometers) northwest of the Liza field. The Lau Lau-1 well encountered approximately 315 feet (96 meters) of high-quality hydrocarbon-bearing sandstone reservoirs. The well was drilled in 4,793 feet (1,461 meters) of water and is located approximately 42 miles (68 kilometers) southeast of the Liza field.
These discoveries will add to the previously announced recoverable resource estimate for the block, of 10 billion oil-equivalent barrels.
“Initial results from the Fangtooth and Lau Lau wells are a positive sign for Guyana and continue to demonstrate the potential for the country’s growing oil and gas sector, ExxonMobil and our co-venturers in the Stabroek block,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil.
“The Fangtooth discovery is a successful result of our strategy to test deeper prospectivity, and the Lau Lau discovery adds to the large inventory of development opportunities in the southeast part of the Stabroek block. Both discoveries increase our understanding of the resource, our continued confidence in the block’s exploration potential, and our view that the many discoveries to date could result in up to 10 development projects,” added Cousins.
Fangtooth was drilled by the Stena DrillMAX, and Lau Lau was drilled by the Noble Don Taylor, which are two of six drillships supporting exploration and development drilling across three blocks operated by ExxonMobil offshore Guyana.
Separately, progress continues on infrastructure for future field development. The Liza Unity floating production storage and offloading (FPSO) vessel is undergoing hookup and commissioning after arriving in Guyanese waters in October 2021. The Unity is on track to start production in the first quarter of 2022 and has a target of 220,000 barrels of oil per day at peak production.
The hull for the Prosperity FPSO vessel, the third project on the Stabroek block at the Payara field is complete and topside construction activities are ongoing in Singapore for planned production start-up in 2024. The Field Development Plan and Environmental Impact Assessment for the fourth potential project, Yellowtail, have been submitted for government and regulatory review.
These new projects continue to drive investment in Guyana’s growing economy. More than 3,200 Guyanese are now employed in supporting project activities, and ExxonMobil and its key contractors have spent more than $540 million with more than 800 local companies since 2015.
The Stabroek block is 6.6 million acres (26,800 square kilometers). ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45% interest. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Limited holds 25% interest.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.
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Cautionary Statement
Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans, schedules, capacities, production rates, timing, and resource recoveries could differ materially due to: changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments including obtaining necessary regulatory permits; restrictions in trade, travel or broader government responses to current or future waves of COVID-19; reservoir performance; the outcome of future exploration and development efforts; technical or operating factors; the outcome of commercial negotiations; unexpected technological breakthroughs or challenges; and other factors cited under the caption “Factors Affecting Future Results” on the Investors page of our website at exxonmobil.com and under Item 1A. Risk Factors in our annual report on Form 10-K. References to “recoverable resource” include quantities of oil and gas that are not yet classified as proved reserves under SEC rules but that are expected to be ultimately recoverable.
ExxonMobil Media Relations
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Rouzbeh Fazlinejad Joins as a Managing Director to Lead Oil and Gas Coverage
DUBAI, United Arab Emirates--(BUSINESS WIRE)--Houlihan Lokey (NYSE:HLI), the global investment bank, announced today the expansion of its global Oil & Gas team into the Middle East with the appointment of Rouzbeh Fazlinejad as a Managing Director, based in Dubai. This appointment also marks the launch of the firm’s first industry group in the Middle East.
Mr. Fazlinejad joins the firm having held senior positions at both Berenberg and TD Securities. Most recently, he spent three years as Head of M&A at Berenberg, where he led the establishment of its international M&A franchise and also headed the firm’s relationships in the global energy and infrastructure industry. Prior to this, he spent 12 years at TD Securities, ultimately becoming Head of European Energy, advising clients on both M&A and capital markets assignments.
“Having expanded our Oil & Gas team into Europe earlier this year, we are now delighted to be launching our dedicated coverage team in the Middle East with Rouzbeh’s appointment,” said J.P. Hanson, Head of Houlihan Lokey’s global Oil & Gas Group. “He brings significant experience and deep industry knowledge as a trusted advisor to clients across the energy spectrum, including supermajors, NOCs, and independents as well as mid-cap energy and infrastructure companies in EMEA. His focus on achieving superior results for his clients makes him an ideal cultural fit for Houlihan Lokey.”
Arun Reddy, Managing Director and Head of Middle East and Africa at Houlihan Lokey, commented: “We are pleased with the progress that our Middle East business has made since we established our office here in 2017, advising on some of the largest and most complex transactions. We are excited to be expanding our client offering in the region and plan to add more expertise to our local team in due course to provide clients with the full suite of advisory services offered across Houlihan Lokey’s global network.”
Mr. Fazlinejad holds a BsC in Finance, Investment and Risk from Cass Business School and Emory University.
With more than 70 industry-dedicated professionals in seven offices around the world, Houlihan Lokey’s global Oil & Gas Group provides superior service and achieves outstanding results for its clients in M&A, A&D, capital markets, capital formation, corporate finance, and recapitalizations throughout the upstream, midstream, and downstream sectors of the oil and gas sector. The group has advised on more than 100 transactions over the past three years across every key global region.
About Houlihan Lokey
Houlihan Lokey (NYSE:HLI) is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, and valuation. The firm serves corporations, institutions, and governments worldwide with offices in the United States, Europe, the Middle East, and the Asia-Pacific region. Independent advice and intellectual rigor are hallmarks of the firm’s commitment to client success across its advisory services. Houlihan Lokey is the No. 1 M&A advisor for the past six consecutive years in the U.S., the No. 1 global restructuring advisor for the past seven consecutive years, and the No. 1 global M&A fairness opinion advisor over the past 20 years, all based on number of transactions and according to data provided by Refinitiv.
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Fourth Quarter Futures & Options ADV +16% y/y including Energy +17% y/y
Record annual volume across Brent, Heating Oil, TTF gas and Global Environmentals
ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today reported December, Fourth Quarter and Full Year 2021 trading volume and related revenue statistics, which can be viewed on the company’s investor relations website at https://ir.theice.com/ir-resources/supplemental-information in the Monthly Statistics Tracking spreadsheet.
“Throughout 2021, and particularly during the fourth quarter, we saw consistently high volumes as customers navigated volatile gas and carbon markets, as well as interest rate uncertainty,” said Ben Jackson, President of ICE. “In periods such as these, our diverse and liquid futures markets are mission critical for companies to manage their risk, and the resulting impact on end consumers.”
Highlights include:
Notes:
1 Interest rate ADV has been adjusted to reflect a common contract size between Sterling and SONIA for comparison purposes.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.
SOURCE: Intercontinental Exchange
ICE-CORP
ICE Investor Relations Contact:
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