HOUSTON--(BUSINESS WIRE)--DXP Enterprises, Inc. (NASDAQ: DXPE) today announced Nick Little and Paz Maestas were appointed the new Chief Operating Officer (COO) and Chief Marketing & Technology Officer (CM&TO), respectfully, effective January 7, 2022.
As COO, Nick Little is responsible for providing companywide leadership, team management and strategic vision to employees. Mr. Little began his career with DXP eighteen years ago as an application engineer. During his tenure, Nick has held various roles of increasing responsibility including outside sales, Director of Operations and more recently as the Regional Vice President of Sales and Operations. In his new role, he will be responsible for the execution of the strategic direction of the Company and oversee sales, operations and inventory management and procurement. He holds a Bachelor of Business Administration in Finance from Baylor University.
Paz Maestas was appointed Chief Marketing and Technology Officer. Mr. Maestas has been with DXP since 2002 and leads the Company’s e-commerce and Omni-Channel initiatives. In his twenty years with DXP, he has served in various roles and most recently as Vice President of Marketing & Operations. He holds a Bachelor of Science in Computer Science from the University of Texas at Austin.
David Little, Chairman and CEO remarked, “DXP has an outstanding leadership team that is the result of a focus on growing and improving the business talent at DXP. Nick and Paz’ wealth of company knowledge and expertise will be instrumental for DXP as we continue to grow and invest and enhance DXP going forward. Nick is a collaborative leader with a deep understanding of DXP’s history and extensive experience having been around the business nearly twenty years. With the appointments of Nick Little and Paz Maestas, we are well positioned to take full advantage of the industry’s recovery and transition into the long-term future.”
About DXP Enterprises, Inc.
DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada and Dubai. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production ("MROP") services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, metal working, industrial supplies and safety products and services. DXP's breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. For more information, go to www.dxpe.com.
The Private Securities Litigation Reform Act of 1995 provides a “safe-harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made by or to be made by the Company) contains statements that are forward-looking. These forward-looking statements include without limitation those about the Company’s expectations regarding the impact of and recovery from the COVID-19 pandemic and the impact of low commodity prices of oil and gas; the Company’s business, the Company’s future profitability, cash flow, liquidity, and growth. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future; and accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of the Company. These risks and uncertainties include, but are not limited to; decreases in oil and natural gas prices; decreases in oil and natural gas industry expenditure levels, which may result from decreased oil and natural gas prices or other factors; ability to obtain needed capital, dependence on existing management, leverage and debt service, domestic or global economic conditions, economic risks related to the impact of COVID-19, ability to manage changes and the continued health or availability of management personnel and changes in customer preferences and attitudes. In some cases, you can identify forward-looking statements by terminology such as, but not limited to, “may,” “will,” “should,” “intend,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “goal,” or “continue” or the negative of such terms or other comparable terminology. For more information, review the Company’s filings with the Securities and Exchange Commission. More information on these risks and other potential factors that could affect the Company’s business and financial results is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
Kent Yee, 713-996-4700
Senior Vice President, CFO
www.dxpe.com
AKRON, Ohio--(BUSINESS WIRE)--$bw #construction--Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Thermal segment has been awarded contracts totaling more than $18 million to install equipment to improve the operating efficiency, performance, and increase availability for two power plants for a large U.S. utility. B&W’s subsidiary, Babcock & Wilcox Construction Co., LLC (BWCC), will install waterwall panels, reheater tubes, and other technologies.
“BWCC provides field construction, construction management, and maintenance services for projects of all sizes for utilities and industrial customers, including for renewable energy, environmental, and decarbonization projects,” said B&W Chief Operating Officer Jimmy Morgan. “Our goal is always to help our customers maintain and improve their plants’ operation, efficiency, and availability so that they can continue to reliably serve their customers.”
BWCC provides outage services, installation, refurbishment, mechanical repair and maintenance services for a variety of industries, equipment and plant installations, regardless of the original manufacturer. Some industries served include power utility, oil & gas, oil sands, chemical and petrochemical, pulp & paper, biomass, waste-to-energy and general manufacturing.
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on LinkedIn and learn more at www.babcock.com.
About BWCC
Babcock & Wilcox Construction Co., LLC (BWCC) is a single-source turnkey supplier of a full range of field construction, construction management and maintenance services.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the receipt of equipment installation contracts for two U.S. power plants. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
Investor Contact:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox
704.625.4944 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
330.860.1345 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Wide application includes vehicles, industrial equipment and energy storage systems.
TOKYO--(BUSINESS WIRE)--Toshiba Corporation (TOKYO: 6502), a company dedicated to advancing carbon neutrality through its technologies, products and services, today expanded its SCiB™ product offering with the launch of an innovative 20Ah-HP rechargeable lithium-ion battery cell that delivers high energy and high power at the same time.
The market wants batteries that deliver both high-energy and high-power characteristics, but until now this has required a trade-off for rechargeable lithium-ion batteries. In an EV, for example, a high-energy battery allows the vehicle to drive further on a single charge—but it lowers power input and output and extends charge times. Toshiba drew on its knowhow in current high-energy and high-power products to develop a new cell that successfully combines the advantages of both.
The cell is ideal for heavy-load applications where high power input and output are essential, and for situations where battery cells must suppress heat and operate continuously, such as rapid charging of commercial vehicles, regenerative power systems for rolling stock, and industrial equipment. The cell is the same size as Toshiba’s current 20Ah product, allowing current customers to easily upgrade to the improved input and output power with the same module pack. The cell is now available to order worldwide.
Product Features
1. Excellent heat suppression
Compared to Toshiba’s current 20Ah cell, the new 20Ah-HP cell delivers 1.7x higher input and 1.6x higher output, realized by an approximately 40% reduction of resistance in the cell. This improvement efficiently suppresses heat generation when a large current is applied, allowing design of a simpler cooling system. For example, depending on the customer's system, water cooling can be simplified to forced air cooling, and forced air cooling simplified to natural cooling. The lowered resistance also reduces overvoltage, allowing the cell to function in a wider range of state-of-charge (SOC).
2. Long life
The new 20Ah-HP cell achieves a longer life than the current 20Ah cell by suppressing heat during continuous charging and discharging, due to its lower internal resistance. Under the test conditions shown in figure 1, the cell maintained almost 100% capacity after 8,000 charge/discharge cycles, while the capacity of the current 20Ah cell decreased by approximately 10%.
3. Compatibility
The new 20Ah-HP cell delivers improved input and output power but maintains the same size as the current 20Ah cell, allowing current customers to easily upgrade to the improved performance with the same module pack.
Applications
Toshiba expects to see the new cell deployed in automobiles, industrial equipment, and storage battery systems. Some examples include drive power supply and emergency power supply for railways, regenerative power supply for harbor cranes, electric ferries, hybrid buses, trucks, hybrid electric vehicles (HEVs) and plug-in HEVs (PHEVs), alternatives to lead-acid batteries and storage battery systems.
Product specifications
Product name |
20Ah-HP Cell |
Rated capacity |
20Ah |
Nominal voltage |
2.3V |
Input power |
1900W* （SOC 50%, 10sec, 25℃） |
Output power |
1900W* （SOC 50%, 10sec, 25℃） |
Energy density (volume) |
176Wh/L |
Energy density (mass) |
84Wh/kg |
Dimensions |
W116 × D22 × H106 mm |
Weight |
Approx. 545g |
* Calculated value with internal resistance
About Toshiba Corporation
Toshiba leads a global group of companies that combines knowledge and capabilities from over 140 years of experience in a wide range of businesses—from energy and social infrastructure to electronic devices—with world-class capabilities in information processing, digital and AI technologies. These distinctive strengths support Toshiba’s continued evolution toward becoming an Infrastructure Services Company that promotes data utilization and digitization, and one of the world’s leading cyber-physical-systems technology companies. Guided by the Basic Commitment of the Toshiba Group, “Committed to People, Committed to the Future,” Toshiba contributes to society’s positive development with services and solutions that lead to a better world. The Group and its 120,000 employees worldwide secured annual sales surpassing 3.1 trillion yen (US$27.5 billion) in fiscal year 2020. Find out more about Toshiba at www.global.toshiba/ww/outline/corporate.html
For Media Enquiries:
Samantha Smoak, PAN Communications
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For Products: https://www.webcom.toshiba.co.jp/scib/en/contact.php?cate=all
DUBLIN--(BUSINESS WIRE)--The "Australia Midstream Oil and Gas Industry Outlook to 2026" report has been added to ResearchAndMarkets.com's offering.
The report provides details such as name, type, operational status and operator for all active and planned (new build) LNG terminals, liquids storage terminals major trunk pipelines, underground gas storage sites and gas processing plants in Australia for the period 2016-2026. Further, the report also offers recent developments, financial deals as well as latest contracts in the country's midstream sector, wherever available.
Scope
Reasons to Buy
Key Topics Covered:
1. Tables & Figures
2. Introduction
3. Australia LNG Industry
3.1. Australia LNG Industry, Liquefaction
3.2. Australia LNG Industry, Liquefaction, Overview
3.3. Australia LNG Industry, Liquefaction Capacity by Major Companies
3.4. Australia LNG Industry, Liquefaction Capacity by Terminal
3.5. Australia LNG Industry, Liquefaction Asset Details
4. Australia Oil Storage Industry
4.1. Australia Oil Storage Industry, Key Data
4.2. Australia Oil Storage Industry, Overview
4.3. Australia Oil Storage Industry, Storage Operations
4.4. Australia Oil Storage Industry, Storage Capacity by Major Companies
4.5. Australia Oil Storage Industry, Storage Capacity Share by Area
4.6. Australia Oil Storage Industry, Storage Capacity by Terminal
4.7. Australia Oil Storage Industry, Asset Details
5. Australia Oil and Gas Pipelines Industry
5.1. Australia Oil Pipelines
5.2. Australia Oil Pipelines, Overview
5.3. Australia Oil and Gas Pipelines Industry, Crude Oil Pipeline Length by Major Companies
5.4. Australia Oil and Gas Pipelines Industry, Crude Oil Pipelines
5.5. Australia Oil and Gas Pipelines Industry, Petroleum Products Pipeline Length by Major Companies
5.6. Australia Oil and Gas Pipelines Industry, Petroleum Products Pipelines
5.7. Australia Oil and Gas Pipelines Industry, NGL Pipeline Length by Major Companies
5.8. Australia Oil and Gas Pipelines Industry, NGL Pipelines
5.9. Australia Oil and Gas Pipelines Industry, Oil Pipelines Asset Details
5.10. Australia Gas Pipelines, Key Data
5.11. Australia Oil and Gas Pipelines Industry, Natural Gas Pipeline Length by Major Companies
5.12. Australia Oil and Gas Pipelines Industry, Natural Gas Pipelines
5.13. Australia Oil and Gas Pipelines Industry, Gas Pipelines Asset Details
6. Australia Underground Gas Storage Industry
6.1. Australia Underground Gas Storage Industry, Key Data
6.2. Australia Underground Gas Storage Industry, Overview
6.3. Australia Underground Gas Storage Industry, Storage Capacity by Major Companies
6.4. Australia Underground Gas Storage Industry, Storage Capacity by Area
6.5. Australia Underground Gas Storage Industry, Storage Capacity by Site
6.6. Australia Underground Gas Storage Industry, Asset Details
7. Australia Gas Processing Industry
7.1. Australia Gas Processing Industry, Key Data
7.2. Australia Gas Processing Industry, Overview
7.3. Australia Gas Processing Industry, Gas Processing Capacity by Major Companies
7.4. Australia Gas Processing Industry, Processing Plant Number by Facility Type
7.5. Australia, Gas Processing Industry, Capacity Contribution of Various Provinces
7.6. Australia Gas Processing Industry, Active Gas Processing Capacity
7.7. Australia Gas Processing Industry, Planned Gas Processing Capacity
7.8. Australia Gas Processing Industry, Asset Details
8. Recent Contracts
8.1. Detailed Contract Summary
8.1.1. Awarded Contracts
9. Financial Deal Landscape
9.1. Detailed Deal summary
9.1.1. Acquisition
9.1.2. Equity Offerings
9.1.3. Asset Transactions
10. Recent Developments
10.1. Other Significant Developments
10.2. New Contracts Announcements
11. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/4g3kw4
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HELSINKI--(BUSINESS WIRE)--#AltumTechnologies--Altum Technologies Oy (CEO: Matias Tainela, HQ in Helsinki Finland, hereinafter “Altum”) and Nippon Steel Engineering Co., Ltd. (CEO: Yukito Ishiwa, HQ in Tokyo, Japan, hereinafter referred to as “NSE”) are announcing joint collaboration to launch a new Smart Cleaning Service.
This new service will allow process manufacturers to clean and prevent fouling from industrial equipment and piping by using software-guided ultrasonic technology. Both companies have now signed a licensing agreement of Altum’s ZPD technology to make the Smart Cleaning Service available throughout Japan across different industries like energy, petrochemicals, paper manufacturing, food, beverage companies and more.
Now Altum and NSE are combining forces to provide an ultrasonic solution that is not only powerful enough but effective for large and several types of industrial process equipment and devices. From now on companies won’t be suffering from fouling and its many related issues like production and capacity loss.
Regarding the current market size, which the Smart Cleaning Service will be covering in Japan, is estimated to be $1.8 billion dollars (200 billion yen). NSE and Altum will continue working towards expanding this market size to new heights.
The goal of Altum and NSE collaboration is not only to bring benefits to the industry but also to the entire Planet as there will be CO2 emissions reduction from industrial production facilities. In addition, alternative methods of cleaning include toxic chemicals and it is the aim of Altum and NSE to eliminate or reduce the need of using these chemicals for cleaning production processes. NSE’s and Altum’s ultrasonic service will serve as an unprecedented tool to fight climate change to help companies to meet several of the UN set SDGs.
Altum has also secured next round of growth funding from LocalTapiola insurance companies, Tesi (Finnish Industry Investment Ltd) and Maki.vc.
Altum provides its ZPD service globally to process industry contributing to improve the energy efficiency of factories. This will reduce the environmental burden and will contribute to the realization of a carbon-neutral society through its widespread use.
Bo Malmberg
Chairman of the board and co-founder
+358 40 515 6373
Altum Technologies Oy
Helsinki, Finland
https://altumtechnologies.com
VANCOUVER, British Columbia--(BUSINESS WIRE)--Loop EnergyTM (TSX: LPEN), a developer and manufacturer of hydrogen fuel cell solutions, is pleased to announce it has achieved its business objectives for 2021, which sets the foundation for further growth in 2022. Loop Energy’s milestones for 2021 focused on four pillars: go-to-market strategy, production capacity, product development and cost reduction.
1. Go-to-Market Strategy (GTM Strategy)
View Loop Energy’s Customer Adoption Cycle.
A key component of Loop's GTM Strategy is its Customer Adoption Cycle, which consists of three distinct phases:
Pilot “1” Phase involves the sale of a minimum of one hydrogen fuel cell module or system to an Original Equipment Manufacturer (OEM) who manufactures fuel cell electric vehicle (FCEV) applications such as buses and trucks and sells it to one or more operators. During this phase, the OEM focuses on prototyping and integrating the Loop hydrogen fuel cell into an FCEV application for design, testing and certification.
Scale up “10” Phase involves production scale up and deployment by the customer with a limited number of early adopter FCEV fleet operators.
Full Production “100” Phase involves the rollout of the product offering by the OEM to a wide cross-section of fleet operators.
We are pleased to announce that in December, Loop achieved its 2021 objective to add ten new qualified OEMs who manufacture FCEVs to the Customer Adoption Cycle (CAC). Loop has progressed ten customers to CAC with a total of 10 in the Pilot “1” Phase and advanced one customer (Skywell) to the Scale Up “10” Phase. Skywell’s buses with Loop’s fuel cells have completed over 300,000 kilometres as a part of the 11-vehicle fleet operated by the City of Nanjing, Lishui District, China, while successfully achieving a 96% uptime for the full cell systems, which exceeded our target.
The growth of Loop's customer portfolio has also seen its geographic footprint expand, with OEMs located in Europe, Asia and North America.
2. Production Capacity
The success of our GTM Strategy has driven the need to grow our production capacity. Therefore, a priority for the past year has been securing and developing a manufacturing facility in China. Substantial progress has been made on our new Shanghai-based facility, which will provide over 35,250 sq ft of dedicated production space. The facility will add geographic diversification in a key market and significantly increase Loop's production capacity. In addition, Loop expanded its 14,000 sq ft Canadian production facility and leased additional office space for its corporate headquarters in 2021.
Loop is pleased to report that it received Environment Protection Bureau (EPB) approval to manufacture stacks and modules at its Shanghai based facility and is in the process of outfitting the facility from an equipment perspective. This is expected to be completed and fully operational in H1 2022.
3. Product Development
Loop's current product portfolio is focused on the medium-duty commercial vehicle space, which enables us to gain rapid traction in a market comprised of existing electrified platforms such as logistics & delivery trucks and buses. Our current fuel cell plate design incorporates our patented eFlowTM hydrogen fuel cell technology. eFlow™ is designed to enable commercial customers to achieve performance maximization and cost minimization. We believe that Loop has superior fuel cell systems when compared to those of our competitors for a variety of reasons that are important to our customers, including (a) leading fuel efficiency, (b) higher durability, and (c) increased power capabilities1. Loop has over 30 patents in its IP portfolio at various stages2 to help ensure Loop can continue to benefit from its competitive advantages.
The evolution of our fuel cell stack technology, particularly the bipolar plates incorporated into the stack, is a cornerstone of Loop's future products, and we believe this is a vital component of our cost reduction strategy. In 2021, Loop significantly advanced the development and testing of its latest technology bipolar plate. We are planning for this next-gen plate and stack technology to be available to customers later in 2022. The new plate is significantly larger, reducing the number of plates required in the stack, and we expect this new design to deliver improved performance for our customers.
4. Cost Reduction
We are focused on driving cost reduction through increasing production scale coupled with vertical integration and improvements in production efficiencies through automation. In 2021, Loop evaluated key elements of its supply chain, successfully identifying multiple opportunities to reduce the overall cost of materials. Planned capital investment will also enable Loop to reduce its manufacturing cost per unit, continuing to drive down product cost.
Setting the Foundation for a Successful 2022
Loop set some aggressive targets in 2021, and we are pleased to be able to report we have delivered against our promises and started to lay the foundation for future successes. 2022 promises to be another landmark year for Loop, and we are excited to share our upcoming catalysts at our February 2022 webinar.
The successes of 2021 put Loop in a strong position to achieve its objectives for the upcoming year. Loop will provide details about the February webinar in the coming weeks to reveal its corporate, product, and sales initiatives for 2022.
About Loop Energy Inc.
Loop Energy is a leading designer and manufacturer of fuel cell systems targeted for the electrification of commercial vehicles, including light commercial vehicles, transit buses and medium and heavy-duty trucks. Loop's products feature the Company's proprietary eFlow™ technology in the fuel cell stack's bipolar plates. eFlow™ was designed to enable commercial customers to achieve performance maximization and cost minimization. Loop works with OEMs and major vehicle sub-system suppliers to enable the production of hydrogen fuel cell electric vehicles. For more information about how Loop is driving towards a zero-emissions future, visit www.loopenergy.com.
This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflect management's current expectations and projections regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control and could cause actual results and events to vary materially from those that are disclosed, or implied, by such forward‐looking information. Such risks and uncertainties include, but are not limited to, the ability of the Company to execute on its strategy, progress existing and future customers through the Customer Adoption Cycle in a timely way, meet manufacturing cost reduction targets, complete our new production facility in China on time and achieve the production capacity targets of such facility, make our next-gen stack technology available to customers in 2022, obtain future patent grants for our proprietary technology and the effectiveness of such patents in protecting our technology; the realization of electrification of transportation, elimination of diesel fuel and ongoing government support of such developments; the expected growth in demand for fuel cells for the commercial transportation market; and the factors discussed under "Risk Factors" in the Company's Annual Information Form dated March 30, 2021. Loop disclaims any obligation to update these forward-looking statements.
About Skywell New Energy Vehicles Corp. (Skywell)
Skywell New Energy Vehicles Corp., formed in 2011 following the acquisition of Nanjing Jinlong Bus Manufacturing Co., is a leading developer and global supplier of electric vehicles. With headquarters located in the Lishui Airport Economic Development Zone in Nanjing, China, with production factories located in Wuhan, Shenzhen and Xianyang, Skywell manufactures and markets an extensive range of sustainable vehicles from light-duty automobiles, to medium and heavy-duty buses, commercial and specialty fleet trucks. The company also operates buses in the Lishui district of China. For more information, please visit www.skywellcorp.com.
Investor Inquiries:
Bill Zhang | Tel: +1 604.222.3400 Ext. 299 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Laine Yonker | Tel: +1 646.653.7035 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Media Inquiries:
Lucas Schmidt | Tel: +1.604.222.3400 Ext. 603 | This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--Titan Division of Hunting Energy Services, a subsidiary of Hunting PLC, the international energy services company, today announced an exclusive licensing agreement with Nammo Defense Systems Inc. for the manufacture of time delay fuses for Hunting’s perforating applications.
Time delay fuses provide a controlled delay for operators to position perforating guns after commencing the firing sequence in a tubing-conveyed perforating operation.
According to Jason Mai, managing director of Hunting’s Titan Division, the licensing agreement allows Hunting to enter the oil and gas market with its own version of time delay products and removes constraints associated with purchasing time delay fuses from outside manufacturers.
“We’re now positioned to control manufacturing, develop complementary products that will better serve our customers, and increase our revenue and profit opportunities,” said Mai.
The innovative manufacturing method developed by Nammo Defense included in the license agreement will also allow Hunting to pursue non-oil and gas opportunities.
Hunting’s perforating technology is accessible through Hunting’s network of distribution centers strategically located in all the world’s oil-producing regions.
About Hunting
Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium-listed public company traded on the London Stock Exchange. The company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the company has operations in Canada, China, Indonesia, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.
The company’s Hunting Energy Services Titan Division engineers and manufactures perforating systems, wireline selective firing systems, cased hole logging instruments, nuclear detectors, energetics, and associated wireline hardware and accessories.
About Nammo Defense Systems Inc.
With its headquarters located in Mesa, Arizona, Nammo Defense Systems Inc. (NDS) specializes in the design, development and manufacture of ammunition and energetic material solutions for defense as well as selected commercial applications. NDS’ defense products include shoulder-fired weapon systems, propellant powders and a variety of rocket motors for fighter aircraft in addition to the manufacture of commercial ammunition and propellant powders. NDS is part of the Nammo group of companies, a conglomeration of expert companies and facilities within the ammunition, rocket motor, explosives and pyrotechnics business sectors in North America and across Europe.
Business Contacts:
John Feuerstein, Hunting, 281-442-7382, This email address is being protected from spambots. You need JavaScript enabled to view it.
Tim McDavid, Nammo Defense Systems Inc. +1 480.714.5791 This email address is being protected from spambots. You need JavaScript enabled to view it.
Communications Contact: Carole Thompson, Nammo Defense Systems Inc. +1 480.647.3287 This email address is being protected from spambots. You need JavaScript enabled to view it.
Cadmus EM&V report confirms highest CSAT ratings for Bidgely’s Home Energy Reports
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--An evaluation report prepared by Cadmus for PacifiCorp – a subsidiary of Berkshire Hathaway Energy with two operating business units: Pacific Power and Rocky Mountain Power – has validated Bidgely’s leadership in producing extremely high levels of customer satisfaction for utilities. According to the report, average home energy reports (HERs) yield 65 percent customer satisfaction scores, whereas Bidgely’s HERs program with Pacific Power Washington achieved 85 percent satisfaction. The program, which replaced Pacific Power’s legacy HERs program, delivered a mix of paper and digital reports at a cost-effective rate while also significantly increasing customer engagement and energy savings.
“Bidgely’s program with Pacific Power uniquely serviced non-smart meter customers, as our vast database of smart meter-derived customer intelligence can be leveraged to deliver a remarkably accurate and personalized customer experience,” said Abhay Gupta, CEO of Bidgely. “As we continue to support global decarbonization efforts, fostering a mutually beneficial relationship between utilities and their consumers is the solid foundation upon which to achieve meaningful energy efficiency goals.”
Bidgely’s HERs solution is core to the company’s UtilityAI Platform, providing personalized energy insights that support energy efficiency and reduced environmental impact among energy consumers. Bidgely’s expertise in transforming consumer data into energy insights has been recognized on Guidehouse Insights’ Home Energy Management leaderboard, where Bidgely is positioned as a “Leader.” Bidgely was further recognized by IDC Marketplace as a “Leader” in digital customer engagement solutions, favorably noted for its personalized engagement tools, such as high bill alerts, rate plan analysis, savings recommendations and more.
To learn how Rocky Mountain Power leveraged Bidgely’s UtilityAI platform to increase customer engagement, visit www.bidgely.com/resources/rocky-mountain-power-iher-program-roll-out.
About Bidgely
Bidgely is an AI-powered SaaS Company accelerating a clean energy future by enabling energy companies and consumers to make data-driven energy-related decisions. Powered by our unique patented technology, Bidgely's UtilityAI™ Platform transforms multiple dimensions of customer data - such as energy consumption, demographic, and interactions - into deeply accurate and actionable consumer energy insights. We leverage these insights to empower each customer with personalized recommendations, tailored to their individual personality and lifestyle, usage attributes, behavioral patterns, purchase propensity, and beyond. From a Distributed Energy Resources (DER) and Grid Edge perspective, whether it is smart thermostats to EV chargers, solar PVs to TOU rate designs and tariffs; UtilityAI™ energy analytics provides deep visibility into generation, consumption for better peak load shaping and grid planning, and delivers targeted recommendations for new value-added products and services. With roots in Silicon Valley, Bidgely has over 17 energy patents, $75M+ in funding, retains 30+ data scientists, and brings a passion for AI to utilities serving residential and commercial customers around the world. For more information, please visit www.bidgely.com or the Bidgely blog at bidgely.com/blog.
Christine Bennett
Bidgely
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A Milestone Closer to 100% Renewable Energy
TAIPEI, Taiwan--(BUSINESS WIRE)--As a response to the nation’s net-zero carbon emissions goals, E.SUN FHC has voiced its commitment to use 100% renewable energy by 2030. To achieve this goal, the company will increase its green energy usage by 10% each year. By building solar power equipment and purchasing green energy, the first green energy wheeling project was completed in 2021. The annual energy production of solar power projects that have already completed energy wheeling has reached 4.25 million kWh or 10% of the annual power consumption. E.SUN’s model zero-carbon Chiayi Branch and the soon-to-open second headquarters building will be the first to start using green energy.
Chairman Joseph N. C. Huang (黃男州) of E.SUN Commercial Bank stated that E.SUN started planning its green energy procurement since the beginning of 2020. E.SUN conducted analyses and discussions with external energy providers on its energy usage to find the most suitable energy generation methods and locations for its energy projects. After multiple meetings, and signing power purchase agreements, the projects were reviewed and approved by Taiwan Power Company, the Bureau of Energy, MEA, local governments, and the Bureau of Standards, Metrology and Inspection, MOEA. Finally, the first green energy wheeling project was completed in December 2021.
Furthermore, the solar power project in Chiayi is expected to begin green energy wheeling in the first quarter of 2022. By then, the E.SUN headquarters building, along with eight other branches, will have started using green energy, which will account for 8% of E.SUN’s total power consumption. This energy in addition to the green energy that has been wheeled accounts for 18% of the company’s annual power consumption.
E.SUN has implemented energy-saving measures including building solar power generation equipment, and signing power purchase agreements to lower its carbon emissions,. Since 2017, solar power panels have been installed on the rooftops of some of the company’s branches. By 2021, 20 branches have installed solar power panels, reaching a total installed capacity of 159 kW, and generating approximately 220,000 kWh of power per year.
E.SUN has proactively created a sustainable operating environment through green buildings, solar-powered branches, and green energy procurement. E.SUN has shown its determination to use 100% green energy by 2030 and become a “Net-zero Bank” by 2050.
Public Relations, E.SUN FHC
Virginia Lin
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(+8862)2175-1335
Leadership to outline new company’s business strategy at investor and analyst event
CHICAGO--(BUSINESS WIRE)--In preparation for separation from Exelon (Nasdaq: EXC), Constellation will hold an investor and analyst event today beginning at 7:30 a.m. Central Time, 8:30 a.m. Eastern Time. Management will discuss how Constellation is uniquely positioned to lead the nation’s response to the climate crisis as the largest carbon-free energy producer and leading supplier of energy products and services to residential and business customers, following its separation from Exelon into an independent, publicly traded, Fortune 200 company. The separation is expected to close on February 1.
“No other company is better positioned to accelerate our nation’s rapid transition to a carbon-free energy future, and that will be the primary focus of our strategy going forward,” said Joseph Dominguez, incoming Chief Executive Officer of Constellation. “Key state and federal policymakers and the scientific community all recognize that 24/7, zero-carbon nuclear energy must be part of the solution to the climate crisis. We are taking a national leadership role by providing our customers and communities across the U.S. with carbon-free energy solutions and a long-term foundation for stable, equitable economic and environmental progress that leaves no one behind.”
During the event, Constellation’s management team will provide insights into the new company’s business strategy. Highlights will include Constellation’s:
With by far the lowest carbon intensity of any major power producer, Constellation will be an essential partner in the nation’s rapid decarbonization efforts. Currently 25 states have greenhouse gas targets or clean energy goals, 600 local governments have developed climate action plans, 60 percent of Fortune 500 companies have set clean energy goals, and the U.S. is targeting to reduce its carbon emissions by 50-52 percent by 2030, providing a strong and growing market for Constellation’s carbon-free energy and the solutions that it provides.
With demand for clean energy accelerating, Constellation is exploring growth opportunities that build on its core businesses, including acquiring nuclear plants or other clean energy assets, creating clean hydrogen using its nuclear fleet, growing sustainability products and services for business customers, and leveraging the generation fleet for co-location of data centers and other opportunities. The company already has developed a clean hydrogen pilot project at its Nine Mile Point nuclear plant in upstate New York that could be a model for similar projects elsewhere in its fleet.
Along with sustainability, diversity, equity and inclusion will remain a core value at the new Constellation. The company is focused on attracting, retaining and advancing employees who reflect its customers and communities, while providing a respectful workplace where everyone has an opportunity to achieve their greatest potential. Constellation employees volunteered nearly 53,000 hours in 2020, and the company donated more than $5.6 million for STEM education, scholarships, workforce development and community programs.
2022 Analyst Day Presenters
The Analyst Day will feature presentations from the following incoming Constellation executives in order of their appearance:
Full biographies of the speakers can be found in the executive profiles section of Exelon’s website here.
Webcast Information
The Constellation event will begin at 7:30 a.m. Central Time, 8:30 a.m. Eastern Time. The webcast and associated materials can be accessed here.
About Exelon
Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2020 revenue of $33 billion. Exelon serves approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 31,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2 million residential, public sector and business customers, including three fourths of the Fortune 100. Follow Exelon on Twitter @Exelon.
About Constellation
Constellation will be the nation’s largest producer of carbon-free energy and the leading competitive retail supplier of power and energy products and services for homes and businesses across the United States. Headquartered in Baltimore, its generation fleet powers more than 20 million homes and businesses and is helping to accelerate the nation’s transition to clean energy with more than 32,400 megawatts of capacity and annual output that is 90 percent carbon-free. Constellation has set a goal to eliminate 100 percent of its greenhouse gas emissions by 2040 by leveraging innovative technology and enhancing its diverse mix of hydro, wind and solar resources paired with the nation’s largest carbon-free nuclear fleet. Constellation’s family of retail businesses serves approximately 2 million residential, public sector and business customers, including three-fourths of the Fortune 100.
Emily Duncan
Investor Relations
312-394-2345
Paul Adams
Corporate Communications
410-470-4167
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DUBLIN--(BUSINESS WIRE)--The "Global Biogas Market 2021-2025" report has been added to ResearchAndMarkets.com's offering.
The publisher has been monitoring the biogas market and it is poised to grow by $27.66 billion during 2021-2025, progressing at a CAGR of 9.79% during the forecast period.
The report on the biogas market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by increased generation of municipal solid waste and stringent regulations pertaining to the reduction of GHG emissions.
The biogas market analysis includes the application segment and geographic landscape. This study identifies the increasing government support for the development of biogas as fuel as one of the prime reasons driving the biogas market growth during the next few years.
Companies Mentioned
The report on biogas market covers the following areas:
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Key Topics Covered:
1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Five Forces Analysis
5. Market Segmentation by Application
6. Customer landscape
7. Geographic Landscape
8. Vendor Landscape
9. Vendor Analysis
10. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/ta8fxj
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Board Addition Enhances U.S. Governance as Part of U.S. Listing Strategy
TORONTO--(BUSINESS WIRE)--$NETZ #NETZ--Carbon Streaming Corporation (NEO: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (“Carbon Streaming” or the “Company”) is pleased to announce the addition of Alice Schroeder to the Company’s Board of Directors.
“We warmly welcome Alice Schroeder to Carbon Streaming’s Board of Directors,” stated Company Chairman Maurice Swan. “Her international board experience, combined with her financial and capital markets knowledge will strengthen our Board expertise, especially as we seek to execute on our international investments and U.S. listing strategy.”
Ms. Schroeder has chaired and served on several boards in the financial services and health care sectors throughout her career and has chaired or been a member of numerous Nominating & Governance, Audit and ESG committees. She is currently serving on the boards of Prudential plc, HSBC North America Holdings, RefleXion Medical, Natus Medical Inc. and Westland Insurance and previously served on the board of Bank of America Merrill Lynch International. Ms. Schroeder was named to the National Association of Corporate Directors “Directorship 100” list in 2020 and is the author of the #1 New York Times and Wall Street Journal bestseller, The Snowball: Warren Buffett and the Business of Life, the story of Buffett and Berkshire Hathaway.
“As a shareholder of Carbon Streaming, I look forward to taking an active role as an independent director and contributing my strengths on the board to help fight climate change and positively impact local communities while also maximizing shareholder returns,” stated Ms. Schroeder.
Alice Schroeder was formerly CEO and chair of WebTuner Corp from 2014-2017. Prior to WebTuner, Ms. Schroeder was a Managing Director and Senior Advisor in the equities division of Morgan Stanley, leading their global insurance research teams based in London and New York City. She was previously a Managing Director at CIBC Oppenheimer and PaineWebber, beginning her career on Wall Street in 1993.
Ms. Schroeder was appointed to the Board of the Company on January 10, 2022. With this appointment, six of the eight Board members are independent, and three are women. Ms. Schroeder holds an MBA and a BBA from the Red McCombs School of Business at The University of Texas at Austin and is a qualified CPA.
About Carbon Streaming
Carbon Streaming is a unique ESG principled investment vehicle offering investors exposure to carbon credits, a key instrument used by both governments and corporations to achieve their carbon neutral and net-zero climate goals. Our business model is focused on acquiring, managing and growing a high-quality and diversified portfolio of investments in projects and/or companies that generate or are actively involved, directly or indirectly, with voluntary and/or compliance carbon credits.
The Company invests capital through carbon credit streaming arrangements with project developers and owners to accelerate the creation of carbon offset projects by bringing capital to projects that might not otherwise be developed. Many of these projects will have significant social and economic co-benefits in addition to their carbon reduction or removal potential.
To receive corporate updates via e-mail as soon as they are published, please subscribe here.
ON BEHALF OF THE COMPANY:
Justin Cochrane, Chief Executive Officer
Tel: 647.846.7765
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www.carbonstreaming.com
DUBLIN--(BUSINESS WIRE)--The "Global Lubricating Oil Additives Market - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global lubricating oil additives market is estimated to be USD 18.2 billion in 2021 and is projected to reach USD 20.4 billion by 2026, at a CAGR of 2.3% between 2021 and 2026.
Factors such as increasing demand from the automotive and industrial sector are the major driving factors of the lubricating oil additives market.
Whereas drive towards alternative fuels, rising competition from unorganized and fragmented market, and reduction in the use of metal parts by automakers are the major restraints for the lubricating oil additives. Increasing demand for renewable energy is a major opportunity for the lubricating oil additives market.
Anti-oxidants is estimated to be the fastest-growing type in the lubricating oil additives market between 2021 and 2026
Anti-oxidants help inhibit the oxidation process of oils as the mineral oils react with the oxygen of air forming organic acid. Some of the oxidation products such as peroxide, alcohols, acids, esters, aldehydes, and ketones increase the viscosity of oil, form sludge and varnish, and corrode the metallic parts that are prone to oxidation.
Therefore, anti-oxidants are additives that help increase the oxidative resistance of base oil and also allow the lubricants to operate effectively at higher temperatures. The anti-oxidants used as additives are zinc dithiophosphate (ZDP), alkyl sulfides, aromatic sulfides, aromatic amines, and hindered phenols.
Gear oil was the third-largest application for lubricating oil additives market in 2020
The lubricating oil additives market size for gear oil applications accounted for the third-largest share of global lubricating oil additives, in terms of value, in 2020 this was led by the demand from the automotive industry. Gear oil is a fluid lubricant used in the gearbox to reduce friction and wear of the gear tooth surface, reduce heat generated by the operating gear, and protect the gear parts from corrosion. It helps to operate efficiently at a different speed, temperatures, and oil contaminations. The gear oils are mostly used in the automotive and industrial sectors.
The automotive gear oil offers better low-temperature performance, improved thermal and oxidative stability, lower volatility, improved solubility characteristics, and viscometric at high temperatures. The major function of automotive gear oils is to provide protection between moving and mating parts. The finished automotive gear oils are mostly composed of base stocks with 5 to 10% of additives. These additives mainly include extreme pressure additives, dispersants, and rust & corrosion inhibitors.
The industrial gear oil is used to minimize wear, reduce friction, dissipate heat, and also used to remove abrasive particles. It offers excellent low-temperature performance, improved lubricity and lower tendency to form residues, and improved thermal and oxidation resistance. Industrial gear oils are mostly composed of 1 to 5 % of additives. These additives mainly include anti-foamer, rust & corrosion inhibitor, demulsifier, extreme pressure additives, and oxidation inhibitors.
Automotive was the major sector for the lubricating oil additives market in 2020 in the world
The lubricating oil additives market size for automotive accounted for the largest share of global lubricating oil additives, in terms of value, in 2020 this was led by the demand for passenger vehicles and commercial vehicles. To enhance the performance of the complex engine, advanced lubricant is being used which includes various additives such as viscosity index improvers, dispersants, detergent, anti-oxidants, anti-wear agent, rust & corrosion inhibitors, friction modifiers, extreme pressure additives, pour point depressant, and others.
APAC is estimated to be the largest lubricating oil additives market in 2020, in terms of volume
APAC is one of the most crucial markets of lubricating oil additives. This is basically led by the demand of lubricating oil additives from various end use industries in China, Japan, India, South Korea and Indonesia These countries have major companies related to the automotive and industrial sector, in this region. China dominates the lubricating oil additives market in APAC. The growing automotive industry in the major economies is the main driver for the lubricating oil additives market.
The lubricating oil additives market is dominated by key market players such as the Afton Chemical Corporation (US), The Lubrizol Corporation (US), Chevron Oronite Company LLC (US), Infineum International Limited (US), and Evonik Industries AG (Germany), among others.
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Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Porter's Five Forces Analysis
Supply Chain Analysis
Patent Analysis
Case Studies
Company Profiles
Major Players
Startups and SMEs
For more information about this report visit https://www.researchandmarkets.com/r/y29lm4
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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IRVING, Texas--(BUSINESS WIRE)--ExxonMobil is expanding its interests in biofuels that can help reduce greenhouse gas emissions in the transportation sector, acquiring a 49.9% stake in Biojet AS, a Norwegian biofuels company that plans to convert forestry and wood-based construction waste into lower-emissions biofuels and biofuel components.
Biojet AS plans to develop up to five facilities to produce the biofuels and biofuel components. The company anticipates commercial production to begin in 2025 at a manufacturing plant to be built in Follum, Norway. The agreement enables ExxonMobil to purchase as much as 3 million barrels of the products per year, based on the potential capacity of five facilities.
“The agreement with Biojet AS advances ExxonMobil’s efforts to provide lower-emissions products for the transportation sector,” said Ian Carr, president of ExxonMobil Fuels and Lubricants Company. “Using our access at the Slagen terminal, we can efficiently distribute biofuels in Norway and to countries throughout northwest Europe.”
Biofuels and biofuel components can meet the requirements for advanced fuels under Norwegian, European Union and United Kingdom regulations. According to the European Union Renewable Energy Directive, biofuels produced from wood waste can help reduce life-cycle greenhouse gas emissions by 85% compared to petroleum-based diesel.
When produced, Biojet AS’s biofuels can be used for passenger vehicles and heavy trucks. Additional opportunities for marine transportation and aviation may develop as the market for lower-emissions biofuels expands.
The investment in Biojet AS builds on ExxonMobil’s continuing efforts to develop and deploy lower-emission energy solutions. ExxonMobil established a Low Carbon Solutions business in 2021 and is currently evaluating biofuels, carbon capture and storage, and hydrogen projects around the world.
ExxonMobil’s majority-owned affiliate, Imperial Oil Ltd., is moving forward with plans to produce renewable diesel at a new complex at its Strathcona refinery, and ExxonMobil expanded its agreement to annually purchase up to 5 million barrels of renewable diesel from Global Clean Energy’s biorefinery in California. Chemically similar to petroleum-based diesel, renewable diesel and other biofuels can be readily blended for use in engines on the market today.
Since 2000, ExxonMobil has invested more than $10 billion to research, develop and deploy lower-emission energy solutions.
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, plans or product offerings in this release are forward-looking statements. Actual future results, including product offerings, investment performance, delivery timing. available capacity, and the impact and results of new technologies on product efficiency and life-cycle emission reductions could vary depending on the outcome of general business conditions; further research and testing; the development and competitiveness of alternative technologies; the ability to scale pilot projects on a cost-effective basis; political and regulatory mandates, incentives and other developments; and other factors discussed in this release and under the heading “Factors Affecting Future Results” on the Investors page of ExxonMobil’s website at exxonmobil.com.
Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Mobil, Esso, and XTO. For convenience and simplicity, those terms and terms such as Corporation, company, our, we, and its are sometimes used as abbreviated references to specific affiliates or affiliate groups. Nothing contained herein is intended to override the corporate separateness of affiliated companies.
Media Relations
972-940-6007
BOCA RATON, Fla.--(BUSINESS WIRE)--Validor Capital, a private investment firm, announced today that it has made an investment in Fi-Foil Company, Inc. (“Fi-Foil” or the “Company”).
Fi-Foil, based in Auburndale, FL, is the industry leader in innovative, energy-efficient reflective and radiant insulation barriers for residential, commercial, and agricultural structures. For over 35 years, Fi-Foil has been committed to the principles of sustainable construction, practicing energy conservation, and minimal landfill impact. This category of insulation is one of the fastest growing technologies in the world, and Fi-Foil offers the most diversified range of products and systems in the category.
Since its founding, hundreds of millions of square feet of Fi-Foil products have been installed in residential, commercial and agricultural structures, providing cost effective thermal performance. Fi-Foil develops, manufactures, distributes, and services this technology every day in an effort to deliver energy efficient solutions for the building envelope.
Matt Kaufman, Managing Partner at Validor Capital stated, “We are excited to support the team at Fi-Foil as they continue their legacy of manufacturing and distributing high-quality insulation products. Fi-Foil has been a leader in sustainable insulation for decades and we look forward to working with them as they move into their next phase of growth.”
Bill Lippy, CEO at Fi-Foil stated, “We are thrilled to join the Validor Capital portfolio of companies. They are an ideal partner given their deep building products expertise and success growing business both organically and through acquisitions. Working with the Validor team will allow us to strengthen our capabilities and expand our service offerings.”
The transaction closed on December 17, 2021. Terms of the transaction were not disclosed.
About Fi-Foil
Fi-Foil is an industry leader in innovative, energy-efficient reflective and radiant insulation barriers for residential, commercial, and agricultural structures. For over 35 years, Fi-Foil has been committed to the principles of sustainable construction, practicing energy conservation, and minimal landfill impact. Learn more about Fi-Foil at www.fifoil.com.
About Validor Capital
Validor Capital is a private investment firm that provides liquidity to family and founder owned industrial, manufacturing, and service businesses in the lower middle market. We seek situations where we can partner with management teams to leverage our combined expertise and deep industry relationships to create significant value. For more information, please visit www.validorcap.com.
Lauren Smyers
561-210-9830
ANN ARBOR, Mich.--(BUSINESS WIRE)--The Coretec Group, Inc., (OTCQB: CRTG) (the “Company”) has partnered with The University of Adelaide, one of the global top universities in the field of applied glass science and photonics, to develop a glass to be used in The Coretec Group’s CSpace, a 3D static volumetric display technology. This project will be jointly funded by The University of Adelaide.
The University of Adelaide’s Prof. Heike Ebendorff-Heidepriem, Deputy Director of the Institute for Photonics and Advanced Sensing (IPAS) and Director of the Optofab Adelaide Hub at the Australian National Fabrication Facility (ANFF) will lead the research. Prof. Ebendorff-Heidepriem is one of the world’s foremost researchers in the field of the development of novel optical glasses, fibers, surface functionalization, and sensing approaches.
“Previous work in volumetric 3D displays have examined the use of low-phonon energy fluoride glasses such as ZBLAN, however these glasses have been severely limited by the difficulty in producing them in large -size and high-quality,” said Prof. Ebendorff-Heidepriem.
This research project will examine alternative low-phonon energy glasses such as tellurite and germanate glasses that have a greater potential for large-scale manufacturing. The development of these glasses will be led by Dr Yunle Wei, who is a glass scientist in Prof Ebendorff-Heidepriem’s team. The project will include characterization of the performance for volumetric display. Using these glasses in the C-Space image chamber could lead to a broader range of the C-Space applications.
“In order to develop new glasses for an image chamber, we rely on experts like Prof. Ebendorff-Heidepriem and her team who have the scientific expertise and the experience to generate alternative glasses to continue our improvements in our 3D volumetric display,” said Matthew Kappers, CEO, at The Coretec Group.
About The University of Adelaide’s Institute for Photonics and Advanced Sensing (IPAS)
The Institute for Photonics and Advanced Sensing (IPAS) fosters excellence in research in materials science, chemistry, biology and physics and develops disruptive new tools for measurement. IPAS was created to bring together experimental physicists, chemists, material scientists, biologists, experimentally driven theoretical scientists, and medical researchers to create new sensing and measurement technologies.
For more information about IPAS please visit www.adelaide.edu.au/ipas/
About The Coretec Group
The Coretec Group, Inc. is developing a portfolio of engineered silicon to improve energy-focused verticals, including electric vehicle and consumer batteries, solid-state lighting (LEDs), and semiconductors, as well as 3D volumetric displays and printable electronics. The Coretec Group serves the global technology markets in energy, electronics, semiconductor, solar, health, environment, and security.
For more information, please visit www.thecoretecgroup.com. Follow The Coretec Group on Twitter and LinkedIn.
Forward-Looking Statements
The statements in this press release that relate to The Coretec Group’s expectations with regard to the future impact on the Company’s results from operations are forward-looking statements, and may involve risks and uncertainties, some of which are beyond our control. Such risks and uncertainties are described in greater detail in our filings with the U.S. Securities and Exchange Commission. Since the information in this press release may contain statements that involve risk and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from expected results. We make no commitment to disclose any subsequent revisions to forward-looking statements. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.
Corporate contact:
The Coretec Group, Inc.
Lindsay McCarthy
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+1 (866) 916-0833
NEW YORK & OSLO, Norway & LUXEMBOURG--(BUSINESS WIRE)--FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean, next-generation battery cell production capacity, and Aleees (TWSE: 5227), a producer of lithium iron phosphate (“LFP”) cathode materials for batteries, have signed a Head of Terms agreement to pursue a Joint Venture (“JV”) with the ambition to establish an LFP cathode plant in the Nordic region. The joint venture partners will seek to commence production in 2024, coinciding with the anticipated ramp-up of operations from FREYR’s first Gigafactory in Mo i Rana, Norway.
The formation of the JV will seek to combine Aleees’ 17 years of experience in LFP cathode production with FREYR’s strategy of manufacturing decarbonized battery cells at scale and the FREYR team’s extensive experience in conducting and constructing complex technical projects in the Nordic region.
The partners will focus on the following priorities to drive value in accordance with FREYR’s core strategic tenets of speed, scale, and sustainability:
“This agreement with Aleees, which calls for the construction of the first giga scale LFP cathode plant outside mainland China, is another important step on our journey to localize and decarbonize battery cell production and their supply chains in the Nordic region,” said Tom Einar Jensen, CEO of FREYR. “FREYR and Aleees intend to establish the plant as part of a broader localized supply chain strategy that will leverage the abundance of cost-advantaged, renewable energy in the Nordics and the growing availability of raw materials produced in the region. We will be examining a limited number of suitable locations in the Nordic region over the next months.”
“Aleees has world-class production technology and R&D capabilities, with the aim to continuously improve energy density, while reducing end-market costs. The cooperation with FREYR will further allow us to improve the production process of cathode materials for LFP batteries to contribute to the reduction of global emissions. The combination of FREYR’s clean battery production and Aleees’ deep experience in LFP cathode production and established production capacity, will provide the basis for innovative solutions to the battery solutions worldwide,” said Edward Chang, The CEO and founder of Aleees.
About FREYR Battery
FREYR Battery aims to provide industrial scale clean battery solutions to reduce global emissions. Listed on the New York Stock Exchange, FREYR’s mission is to produce green battery cells to accelerate the decarbonization of energy and transportation systems globally. FREYR has commenced building the first of its planned factories in Mo i Rana, Norway and announced potential development of industrial scale battery cell production in Vaasa, Finland, and the United States. FREYR intends to deliver up to 43 GWh of battery cell capacity by 2025 and up to 83 GWh annual capacity by 2028. To learn more about FREYR, please visit www.freyrbattery.com
About Aleees
Aleees (TWSE: 5227), founded in 2005, is one of the few LFP cathode material manufacturers with the longest history in the world. Aleees has more than 200 independent patents worldwide, and its customers include world-renowned battery, electric vehicle and energy storage battery customers in Europe, America, Japan, Korea, and Asia.
Aleees develops and produces high-quality, cost-effective, and longer cycle life LFP cathode materials. In the 17 years since its establishment, it has accumulated more than 15,000 tons of shipments and accumulated revenue of nearly 240 million US dollars.
At the same time, Aleees has also achieved outstanding results in ESG, and its corporate governance performance has been among the top 5% of all listed companies in Taiwan for 7 consecutive years.
Aleees is committed to providing customers with first-class quality, safe and reliable products, and has obtained major international certifications including ISO9001, ISO14001, ISO14064, ISO/TS 16949, OHSAS18001 and corporate social responsibility AA1000 and so on.
For more information, please visit: www.aleees.com
Cautionary Statement Concerning Forward-Looking Statements
All statements, other than statements of present or historical fact included in this press release, including, without limitation, statements regarding the formation of a JV between the parties and any anticipated benefits thereof, the establishment of a giga scale cathode plant for LFP in the Nordic region, the development of an initial 10,000 tonnes of LFP cathode material per year in the Nordic region by 2024, the expansion to at least 30,000 tonnes by 2025 using Aleees’ modular LFP plant design, the development of a Nordic supply chain encompassing iron and phosphate products from the Nordic region, FREYR’s ability to bring lithium refining capacity to Norway, the ability of a Nordic supply chain to bring strong economic benefits to FREYR and the Nordic region based on localized and decarbonized production and transportation of raw materials to battery cell manufacturing facilities, a Norway-based facility’s ability to reduce CO2 emissions by 50,000 tonnes per year compared to Taiwan, FREYR’s decarbonization of battery cell production and supply chains in the Nordic region, FREYR’s ability to leverage the abundance of cost-advantaged, renewable energy in the Nordics and the growing availability of raw materials produced in the region, the development and commercialization of 24M’s technology (and any intended benefits thereof), FREYR’s production capacities and Aleees’ and FREYR’s ability to improve the production process of cathode materials for LFP batteries and contribute to the reduction of global emissions are forward-looking and involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.
Most of these factors are outside FREYR’s control and difficult to predict. Information about factors that could materially affect FREYR is set forth under the “Risk Factors” section in FREYR’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission (the "SEC") on August 9, 2021, as amended, and in other SEC filings available on the SEC’s website at www.sec.gov.
Investor contacts:
FREYR Battery:
Jeffrey Spittel
Vice President, Investor Relations
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Tel: (+1) 281-222-0161
Aleees:
Paul Chu
Chief of Investment Officer
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Media contacts:
FREYR Battery:
Katrin Berntsen
Vice President, Communication and Public Affairs
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Tel: (+47) 920 54 570
Aleees:
Paul Chu
Chief of Investment Officer
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DUBLIN--(BUSINESS WIRE)--The "Methanol Market - Global Forecasts to 2026" report has been added to ResearchAndMarkets.com's offering.
The global Methanol market is estimated to be USD 30.7 billion in 2021 and is projected to reach USD 36.3 billion by 2026, at a CAGR of 3.4% from 2021 to 2026.
Increase in demand of methanol from the end-use industries such as automotive, construction, electronics, solvents, pharmaceuticals, appliances, packaging, and insulation is propelling the growth of this market.
Coal feedstock is anticipated to grow at the highest CAGR during the forecast period
Coal is estimated to account for the fastest growth in the methanol feedstock segment from 2021 to 2026. Coal is considered to be the sustainable alternative raw material for large-scale methanol production which is one the important reason for the increase in demand of coal as feedstock of methanol.
MTO/MTP derivative is anticipated to grow at the highest CAGR during the forecast period
Methanol-to-olefins/methanol-to-propylene (MTO/MTP) is estimated to account for the fastest growth in the methanol derivatives segment from 2021 to 2026. The growth is due to the rise in MTO/CTO plants in China to produce olefins through methanol, as the demand for olefins is growing in the petrochemical industry. The growing demand for methanol is highly attributed to its increasing demand in the automotive and construction end-use industries.
Olefins sub-derivative is anticipated to grow at the highest CAGR during the forecast period
Olefins is estimated to account for the fastest growth in the methanol sub-derivatives segment from 2021 to 2026. The growth is due to high demand of olefins in end-use industries such as building and construction industry. The increase in production of methanol and high feedstock availability will increase the demand for methanol-based sub-derivatives such as olefins.
Solvents end-use industry is estimated to account for the fastest growth during the forecast period
Solvents end-use industry is estimated to account for the fastest growth in the methanol sub-derivatives segment from 2021 to 2026. The growth in the solvent industry is due to increasing demand of solvents in the pharmaceutical, construction, and paints & coatings industries.
Asia-Pacific is projected to grow at the highest CAGR during the forecast period
Asia Pacific is projected to grow at the highest CAGR in the methanol market from 2021 to 2026. Asia Pacific is the largest and fastest-growing market of methanol, with China and India being the major emerging markets. The growth can be attributed to the rapidly increasing demand for methanol from the automotive and construction industries. China is a major manufacturer of methanol and had the highest consumption of methanol. The increasing demand for UF/PF resins and increasing methanol usage as an emerging fuel for automotive are the key factors expected to drive the demand for methanol during the forecast period.
Some of the companies involved in the manufacturing of methanol are Methanex Corporation (Canada), Celanese Corporation (US), BASF SE (Germany), SABIC (Saudi Arabia), Petronas (Malaysia), Yangzhou Coal Mining Company (China), HELM Proman Methanol AG (Switzerland), Zagros Petrochemical Company (Iran), Mitsubishi Gas Chemical Company Inc. (Japan), and Mitsui & Co., Ltd. (Japan).
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GOTHENBURG, Sweden--(BUSINESS WIRE)--Polestar, the pure-play, premium electric car company, confirms that it continues to deliver on ambitious global sales, market, and retail expansion plans that underpin significant growth targets for the coming years. The company delivered on its global sales target of 29,000 vehicles in 2021, representing year-on-year growth exceeding 185%. Polestar’s proposed business combination with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU), is expected to close in the first half of 2022.
Polestar increased its global presence from 10 to 19 markets in 2021, with growth in Europe and Asia Pacific. In the first half of 2022, Polestar plans to add Spain, Portugal and Ireland to its European market footprint, and enter the Middle East with presence in the UAE, Kuwait and Israel. By the end of 2023, Polestar aims to be operating in at least 30 global markets.
“We are delivering on our targets,” says Thomas Ingenlath, Polestar CEO. “It is a hugely exciting time for the brand, with new markets and models to support the ambitious growth plans we have set for ourselves. Thanks to the relentless dedication of Polestar employees across the globe, we are progressing with confidence towards our proposed public listing.”
Mike Whittington, Polestar’s Head of Sales, adds: “With strong new market launches and the fantastic reception of an expanded Polestar 2 model line-up, we have seen interest in Polestar and vehicle sales increase in all our markets. Our order intake is strong and we are looking forward to further growth in our sales volume again in 2022.”
Additionally, Polestar’s retail footprint more than doubled in 2021 to 100 locations globally and the company aims to have 150 in operation by the end of 2022. In addition to the openings of inner-city Polestar Spaces, the company debuted its new, larger, out-of-town Polestar Destinations. The first permanent Polestar Destination opened in December 2021, outside Gothenburg, Sweden.
In 2021, Polestar also announced its plans to launch three new cars in the coming three years. Polestar 3, a premium electric performance SUV, is set to launch in 2022 and will be the first Polestar to be built in the US. Polestar 3 will benefit from advanced technologies from Luminar, Nvidia and Zenseact that will provide cutting-edge unsupervised autonomous driving functionality.
About Polestar
Polestar was established as a new, standalone Swedish premium electric vehicle manufacturer in 2017. Founded by Volvo Cars and Geely Holding, Polestar enjoys specific technological and engineering synergies with Volvo Cars and benefits from significant economies of scale as a result.
Polestar is headquartered in Gothenburg, Sweden, and its vehicles are currently available and on the road in markets across Europe, North America, China and Asia Pacific. By 2023, the company plans to be present in 30 global markets. Polestar cars are currently manufactured in two facilities in China, with additional future manufacturing planned in the USA.
In September 2021, Polestar announced its intention to list as a public company on the Nasdaq in a business combination agreement with Gores Guggenheim, Inc. Full information on this definitive agreement can be found here.
Polestar has produced two electric performance cars. The Polestar 1 was built between 2019 and 2021 as a low-volume electric performance hybrid GT with a carbon fiber body, 609 hp, 1,000 Nm and an electric-only range of 124 km (WLTP) – the longest of any hybrid car in the world.
The Polestar 2 electric performance fastback is the company’s first fully electric, high volume car. The Polestar 2 model range includes three variants with a combination of long- and standard range batteries as large as 78 kWh, and dual- and single-motor powertrains with as much as 300 kW / 408 hp and 660 Nm.
In the coming three years, Polestar plans to launch one new electric vehicle per year, starting with Polestar 3 in 2022 – the company’s first electric performance SUV. Polestar 4 is expected to follow in 2023, a smaller electric performance SUV coupe.
In 2024, the Polestar 5 electric performance 4-door GT is planned to be launched as the production evolution of Polestar Precept – the manifesto concept car that Polestar released in 2020 that showcases the brand’s future vision in terms of design, technology, and sustainability. As the company seeks to reduce its climate impact with every new model, Polestar aims to produce a truly climate-neutral car by 2030.
About Gores Guggenheim, Inc.
Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU) is a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, founded by Alec Gores, and by an affiliate of Guggenheim Capital, LLC. Gores Guggenheim completed its initial public offering in April 2021, raising approximately USD 800 million in cash proceeds for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Gores Guggenheim's strategy is to identify and complete business combinations with market leading companies with strong equity stories that will benefit from the growth capital of the public equity markets and be enhanced by the experience and expertise of Gores' and Guggenheim’s long history and track record of investing in and operating businesses.
Forward-Looking Statements
Certain statements in this press release (“Press Release”) may be considered “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or the future financial or operating performance of Gores Guggenheim, Inc. (“Gores Guggenheim”), Polestar Performance AB and/or its affiliates (the “Company”) and Polestar Automotive Holding UK Limited (“ListCo”). For example, projections of future Adjusted EBITDA or revenue and other metrics are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential”, “forecast”, “plan”, “seek”, “future”, “propose” or “continue”, or the negatives of these terms or variations of them or similar terminology. 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.
These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Gores Guggenheim and its management, and the Company and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of definitive agreements with respect to the Business Combination; (2) the outcome of any legal proceedings that may be instituted against Gores Guggenheim, the combined company or others following the announcement of the Business Combination and any definitive agreements with respect thereto; (3) the inability to complete the Business Combination due to the failure to obtain approval of the stockholders of Gores Guggenheim, to obtain financing to complete the Business Combination or to satisfy other conditions to closing; (4) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (5) the ability to meet stock exchange listing standards following the consummation of the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations of the Company as a result of the announcement and consummation of the Business Combination; (7) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (8) costs related to the Business Combination; (9) risks associated with changes in applicable laws or regulations and the Company’s international operations; (10) the possibility that the Company or the combined company may be adversely affected by other economic, business, and/or competitive factors; (11) the Company’s estimates of expenses and profitability; (12) the Company’s ability to maintain agreements or partnerships with its strategic partners Volvo Cars and Geely and to develop new agreements or partnerships; (13) the Company’s ability to maintain relationships with its existing suppliers and strategic partners, and source new suppliers for its critical components, and to complete building out its supply chain, while effectively managing the risks due to such relationships; (14) the Company’s reliance on its partnerships with vehicle charging networks to provide charging solutions for its vehicles and its strategic partners for servicing its vehicles and their integrated software; (15) the Company’s ability to establish its brand and capture additional market share, and the risks associated with negative press or reputational harm, including from lithium-ion battery cells catching fire or venting smoke; (16) delays in the design, manufacture, launch and financing of the Company’s vehicles and the Company’s reliance on a limited number of vehicle models to generate revenues; (17) the Company’s ability to continuously and rapidly innovate, develop and market new products; (18) risks related to future market adoption of the Company’s offerings; (19) increases in costs, disruption of supply or shortage of materials, in particular for lithium-ion cells or semiconductors; (20) the Company’s reliance on its partners to manufacture vehicles at a high volume, some of which have limited experience in producing electric vehicles, and on the allocation of sufficient production capacity to the Company by its partners in order for the Company to be able to increase its vehicle production capacities; (21) risks related to the Company’s distribution model; (22) the effects of competition and the high barriers to entry in the automotive industry, and the pace and depth of electric vehicle adoption generally on the Company’s future business; (23) changes in regulatory requirements, governmental incentives and fuel and energy prices; (24) the impact of the global COVID-19 pandemic on Gores Guggenheim, the Company, the Company’s post business combination’s projected results of operations, financial performance or other financial metrics, or on any of the foregoing risks; and (25) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Gores Guggenheim’s final prospectus relating to its initial public offering (File No. 333-253338) declared effective by the SEC on March 22, 2021, and other documents filed, or to be filed, with the SEC by Gores Guggenheim or ListCo, including the Registration/Proxy Statement. There may be additional risks that neither Gores Guggenheim, the Company nor ListCo presently know or that Gores Guggenheim, the Company or ListCo currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.
Nothing in this Press Release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither Gores Guggenheim, the Company nor ListCo undertakes any duty to update these forward-looking statements.
Additional Information
In connection with the proposed Business Combination, (i) ListCo has filed with the SEC a Registration/Proxy Statement, and (ii) Gores Guggenheim will file a definitive proxy statement relating to the proposed Business Combination (the “Definitive Proxy Statement”) and will mail the Definitive Proxy Statement and other relevant materials to its stockholders after the Registration/Proxy Statement is declared effective. The Registration/Proxy Statement will contain important information about the proposed Business Combination and the other matters to be voted upon at a meeting of Gores Guggenheim stockholders to be held to approve the proposed Business Combination. This Press Release does not contain all the information that should be considered concerning the proposed Business Combination and is not intended to form the basis of any investment decision or any other decision in respect of the Business Combination. Before making any voting or other investment decisions, securityholders of Gores Guggenheim and other interested persons are advised to read, the Registration/Proxy Statement and the amendments thereto and the Definitive Proxy Statement and other documents filed in connection with the proposed Business Combination, as these materials will contain important information about Gores Guggenheim, the Company, ListCo and the Business Combination. When available, the Definitive Proxy Statement and other relevant materials for the proposed Business Combination will be mailed to stockholders of Gores Guggenheim as of a record date to be established for voting on the proposed Business Combination. Stockholders will also be able to obtain copies of the Registration/Proxy Statement, the Definitive Proxy Statement and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to: Gores Guggenheim, Inc., 6260 Lookout Rd., Boulder, CO 80301, attention: Jennifer Kwon Chou.
INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
Participants in the Solicitation
Gores Guggenheim and certain of its directors and executive officers may be deemed participants in the solicitation of proxies from Gores Guggenheim’s stockholders with respect to the proposed Business Combination. A list of the names of those directors and executive officers and a description of their interests in Gores Guggenheim is set forth in Gores Guggenheim’s filings with the SEC (including Gores Guggenheim’s final prospectus related to its initial public offering (File No. 333-253338) declared effective by the SEC on March 22, 2021), and are available free of charge at the SEC’s website at www.sec.gov, or by directing a request to Gores Guggenheim, Inc., 6260 Lookout Rd., Boulder, CO 80301, attention: Jennifer Kwon Chou. Additional information regarding the interests of such participants is contained in the Registration/Proxy Statement.
The Company and ListCo, and certain of their directors and executive officers may also be deemed to be participants in the solicitation of proxies from the stockholders of Gores Guggenheim in connection with the proposed Business Combination. A list of the names of such directors and executive officers and information regarding their interests in the proposed Business Combination is included in the Registration/Proxy Statement.
No Offer and Non-Solicitation
This Press Release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Gores Guggenheim, the Company or ListCo, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.
For inquiries regarding Polestar:
Jonathan Goodman
Polestar
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Andrew Lytheer
Polestar
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John Paolo Canton
Polestar
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For inquiries regarding The Gores Group and affiliates:
Jennifer Kwon Chou
Managing Director
The Gores Group
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John Christiansen/Cassandra Bujarski
Sard Verbinnen & Co
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Actively managed ETF provides global exposure to companies committed to curbing or mitigating the deleterious effects of climate change; part of company approach will be to re-invest into climate change initiatives
NEW YORK--(BUSINESS WIRE)--Strategy Shares, an innovative family of exchange traded funds (ETFs) providing all types of investors with unique and compelling portfolio solutions, is today announcing the launch of the Strategy Shares Halt Climate Change ETF (Nasdaq: NZRO).
NZRO is an actively managed ETF designed to invest in companies globally that have adopted environmentally friendly business practices, produce products and services that combat climate change, and, in the view of the fund’s portfolio management team, are well positioned from a risk/return perspective for potential outperformance.
In addition to investing in companies with a focus on sustainability, Strategy Shares will use profits from NZRO to finance initiatives that work toward actively ending climate change.
NZRO was co-created by David Miller, Chief Investment Officer and Senior Portfolio Manager at Strategy Shares, and Rob Gough, portfolio manager, serial entrepreneur, and long-time investor. Rob’s interest and focus on climate change has been a recurring theme in his professional life, and he’s hoping to bring a wealth of insights to NZRO’s philosophy and approach to ensure this is an investment product that truly makes a difference.
“As a businessowner and investor, I’ve too often seen ‘greenwashing’ in action, and it’s become very clear to me that the companies best positioned to help drive efforts to halt climate change and potentially deliver outperformance to investors are those that are active in both words and deeds. That is the philosophy behind NZRO and I could not be more excited to be working with Strategy Shares to bring this new ETF to market,” said Gough, who will assist in the management of NZRO.
NZRO’s investment process begins by seeking out those companies that meet at least one of a set of climate-focused criteria:
Companies that meet any of the above criteria are then reviewed by the fund’s management team using a rigorous fundamental research approach focused on both their credit worthiness as well as their commitment to climate initiatives, with the final portfolio made up of those companies the team believes have the highest risk/return potential.
“The push for net zero will be a defining economic event for the foreseeable future. Companies that are positioning themselves to play a leadership role in carbon reduction aren’t just going to have an impact on our planet, they will be well positioned in the eyes of climate-conscious investors,” added David Miller, Portfolio Manager of NZRO. “We are committed to offering a differentiated product that can not only outperform the market over the long-term but can make a real difference in combatting climate change. Investors coming together with a common goal can have a real impact on fixing the climate crisis, and at Strategy Shares we hope to be part of the solution.”
For more information on Strategy Shares ETFs’ unique suite of investment products, please visit: www.StrategySharesETFs.com.
About Strategy Shares
Strategy Shares is a family of exchange traded funds (ETFs) focused on bringing unique strategies to the ETF marketplace. Currently, Strategy Shares offers four ETFs: the Strategy Shares Nasdaq 7HANDL™ Index ETF (HNDL), the Strategy Shares Nasdaq 5HANDL Index ETF (FIVR), the Strategy Shares Newfound/ReSolve Robust Momentum ETF (ROMO) and the Strategy Shares Gold-Hedged Bond ETF (GLDB). For more information on Strategy Shares and its fund offerings, please visit: www.StrategySharesETFs.com.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Strategy Shares ETFs. This and other important information about the Funds are contained in the full or summary prospectus, which can be obtained by calling (855) HSS-ETFS (855-477-3837) or at www.StrategySharesETFs.com.
The information in this communication is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This communication is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.
For more complete information on Strategy Shares, download and view a prospectus or summary prospectus now or call (855) 477-3837 for a free prospectus or summary prospectus. You should consider the fund’s investment objectives, risks, charges, and expenses carefully before you invest. Information about these and other important subjects is in the fund’s prospectus or summary prospectus, which you should read carefully before investing.
Investments involve risk Principal loss is possible. The Fund's focus on securities of issuers that seek prevent or mitigate the deleterious effects of climate change may affect the Fund's exposure to certain sectors or types of investments. The Fund’s relative investment performance may also be negatively affected if such sectors or investments are out of favor with the market. The Fund may invest in countries with newly organized or less developed securities markets. There are typically greater risks involved in investing in emerging markets securities. To the extent the Fund invest in foreign securities, the Fund could be subject to greater risks because the Fund's performance may depend on issues other than the performance of a particular company or U.S. market sector. The Fund is a new fund with no history of operations for investors to evaluate. The Fund may have a high turnover of the securities held in its portfolio. Increased portfolio turnover causes the Fund to incur higher brokerage costs, which may adversely affect the Fund's performance and may produce increased taxable distributions. Shares of these ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. Brokerage commissions will reduce returns.
The Strategy Shares are distributed by Foreside Fund Services, LLC, which is not affiliated with Rational Advisors, Inc., or any of its affiliates.
Chris Sullivan
MacMillan Sullivan Communications
(212) 473-4442
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