NEW YORK--(BUSINESS WIRE)--Liquidity Group leveraged its machine learning due diligence platform to analyze and deploy $7.5 million in growth funding for Zizoo, the leading global boat rental platform that offers more than 40,000 boats in more than 1,000 destinations globally.
“At Liquidity, our technology-driven strategy helps us move at light speed to provide the growth funding companies need to expand and make an impact on the world,” said Ron Daniel, CEO and Co-Founder of Liquidity Group. “We’re pleased to support Zizoo’s work, and we look forward to supporting other companies seeking to use technology to provide great leisure & travel options.”
Based in Berlin, Germany, Zizoo is the largest global SaaS enabled marketplace for boat rentals and on water experiences. Zizoo’s unique technology is used by more than 4,000 boat operating companies worldwide. Zizoo’s platform allows travelers to easily search and book all types of boat vacations with or without crew in a click. The boat rental market is one of the fastest growing travel segments, a trend that has only accelerated recently. Zizoo’s goal is to be the leader of this digital transformation with its technology.
“Zizoo is a one-of-a-kind company that blends expertise in boating with innovative digital technologies,” said Nir Shmueli, Investment Manager at Liquidity Group. “We are pleased to use our technology-driven approach to fund their ability to serve more customers.”
“The Liquidity team has not only provided funding to enable further growth but validated our plans and ambitions through their ‘Liquidity Analysis’ platform,” said Zizoo CEO and co-founder Anna Banicevic. “From the initial discussion, the entire process was effortless and took only days before they presented us with a term sheet. The financing option was a great way to assist us in fueling our growth. At Zizoo, we’re on a mission to bring the joy of boating holidays and days out to millions around the world, making lasting memories.”
About Liquidity Group:
Founded in 2018, the Liquidity Group is a global capital market credit automation company and fund manager providing growth capital through funds focused on the US, Asia, Europe and the Middle East. Liquidity Group’s subsidiary fund, Singapore-based Mars Growth Capital, and its partner MUFG [MUFG:NYSE] jointly handle the company’s South East Asia activity. It combines real-time data with proprietary machine learning technology to offer tailored financing that matches a company’s future growth. Liquidity Group operates three main divisions: Analysis, Capital, and Market Syndication, which together provide global lenders a complete cycle of scaled and quick credit deployment. www.liquiditygroup.com
About Zizoo:
Founded in 2014, Zizooboats GmbH provides boat holidays to millions around the world by bringing digital technologies to the nautical industry. Operating from its headquarters in Berlin, Germany, the company serves customers in more than 30 countries and 1,000 destinations. Zizoo continues to add to its boat fleet to provide holidays to customers worldwide. https://www.zizoo.com
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New project with the Indian Ministry of Power will showcase Bloom’s hydrogen and power production technologies
SAN JOSE, Calif. & NEW DELHI--(BUSINESS WIRE)--$BE #hydrogen--Bloom Energy today announced that NTPC Limited, India’s largest energy conglomerate under the jurisdiction of the Ministry of Power, has selected Bloom’s electrolyzer and hydrogen-powered fuel cell technologies for the country’s first green hydrogen-based energy storage deployment. As part of India’s pledge to reach carbon neutrality by 2070, the project is designed to explore large-scale, off-grid hydrogen energy storage and microgrid projects at strategic locations throughout the country.
Bloom Energy (India) Private Limited, a wholly owned subsidiary of Bloom Energy, was selected for its holistic, comprehensive and efficient technology ecosystem spanning green hydrogen production and carbon-free power. The initial collaboration between NTPC and Bloom Energy India is expected to serve as a foundation for expanded future cooperation.
The collaboration will utilize Bloom Energy’s solid oxide, high temperature electrolyzer to generate green hydrogen from renewable electricity produced by a nearby floating solar farm. The hydrogen will then be converted into carbon neutral electricity without combustion through Bloom Energy’s hydrogen fuel cells to power NTPC’s Guest House, a local accommodation intended for use by NTPC employees and guests. The project is expected to commence in 2022 in Simhadri, Visakhapatnam, India.
The solar farm coupled with Bloom Energy’s electrolyzer and hydrogen fuel cells is intended to operate around the clock. At scale, the combination could enable long duration clean energy storage and resilient power for businesses, residential neighborhoods, dense urban areas, and remote and island communities.
India is pursuing aggressive plans to move towards renewable energy and storage capacity while ensuring grid stabilization for its citizens. Hydrogen is a natural complement to renewable sources of energy, leveraging excess peak power created during the day for conversion into hydrogen to provide pollution-free, reliable power that provides long-duration storage.
“Reducing carbon emissions is the number one priority in the fight against climate change, and green hydrogen will be critical to India’s decarbonization objectives,” said Venkat Venkataraman, executive vice president and chief technology officer, Bloom Energy. “Bloom’s technology is well-positioned to help India transition to a net-zero, hydrogen-powered economy, and we are excited to collaborate with NTPC to bring the country’s first green hydrogen microgrid to life. The powerful combination of Bloom’s high-efficiency electrolyzers and fuel cells enables the highest possible round trip efficiency with green hydrogen for energy storage.”
Bloom Energy’s high-temperature electrolyzer produces hydrogen more efficiently than low-temperature PEM and alkaline electrolyzers. Because it operates at high temperatures, the Bloom Electrolyzer requires less energy to break up water molecules and produce hydrogen. Electricity accounts for nearly 80 percent of the cost of hydrogen from electrolysis. By using less electricity, hydrogen production becomes more economical and will accelerate adoption.
Bloom Energy Servers – solid oxide fuel cells that combine ambient air with a fuel source, such as natural gas, biogas, hydrogen, or a blend of fuels – produce electricity through a non-combustion electrochemical reaction, resulting in reduced carbon emissions, harmful air pollutants, and water use compared to grid alternatives. When hydrogen is used as a fuel source, Bloom Energy Servers emit zero carbon.
Bloom Energy is engaged with industry leaders to accelerate the global hydrogen economy, including projects related to producing low-cost, green hydrogen and utilizing nuclear energy to create clean hydrogen. To see how Bloom Energy is powering the future, visit: bloomenergy.com/technology/powering-the-future/
About Bloom Energy
Bloom Energy’s mission is to make clean, reliable energy affordable for everyone in the world. Bloom’s product, the Bloom Energy Server, delivers highly reliable and resilient, always-on electric power that is clean, cost-effective, and ideal for microgrid applications. Bloom’s customers include many Fortune 100 companies and leaders in manufacturing, data centers, healthcare, retail, higher education, utilities, and other industries. For more information, visit www.bloomenergy.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws that involve risks and uncertainties. Words such as “anticipates,” “could,” “expects,” “intends,” “plans,” “projects,” “believes,” “seeks,” “estimates,” “can,” “may,” “will,” “would” and similar expressions identify such forward-looking statements. These statements include, but are not limited to, timing of the initial deployment of Bloom’s electrolyzer and hydrogen-powered fuel cell technologies for NTPC in India; expectations of the parties entering into an agreement for future cooperation between NTPC and Bloom Energy; expectations regarding hydrogen technology; expectations regarding Bloom’s high-efficiency electrolyzers; and expectations regarding the acceleration of the global hydrogen economy. These statements should not be taken as guarantees of results and should not be considered an indication of future activity or future performance. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, including timing of market adoption of Bloom Energy Servers and electrolyzers in India, successful trials of Bloom Energy technology, adoption of a definitive agreement between the parties; and those included in the risk factors section of Bloom Energy’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 and other risks detailed in Bloom Energy’s SEC filings from time to time. Bloom Energy undertakes no obligation to revise or publicly update any forward-looking statements unless if and as required by law.
MEDIA CONTACTS:
Bloom Energy
Jennifer Duffourg
(480) 341-5464
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INVESTOR RELATIONS:
Bloom Energy
Edward Vallejo
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Solar power and non-flammable long-duration energy storage will support critical facilities during emergencies
WILSONVILLE, Ore.--(BUSINESS WIRE)--$GWH #batterystorage--ESS Tech, Inc. (“ESS,” “ESS Inc.”) (NYSE: GWH), a U.S. manufacturer of long-duration batteries for utility-scale and commercial energy storage applications, announced today that its iron flow batteries are being deployed by San Diego Gas & Electric (SDG&E) in a microgrid project that will strengthen community resilience and back up critical resources in the town of Cameron Corners, California.
The ESS solution will be paired with a large on-site solar array to create a zero-emissions microgrid to support numerous critical community facilities – including a fire station, a health center, and key telecommunications equipment – during Public Safety Power Shutoff (PSPS) events. The first-of-its-kind, utility-scale project will utilize six ESS second-generation Energy Warehouse™ systems to provide up to 3 megawatt-hours (MWh) of stored energy capacity. When the microgrid is not in use, the energy stored in the ESS system will be bid into the California wholesale energy market to earn revenue while supporting grid reliability.
“The Cameron Corners Microgrid Project symbolizes SDG&E’s commitment to keeping our customers safe and building resilience against wildfires and extreme weather,” said Don Balfour, Advanced Clean Technology Program Manager at SDG&E. “By pioneering zero-emissions microgrids, SDG&E seeks to meet the reliability and resiliency needs of our customers as climate change presents growing challenges.”
“SDG&E has demonstrated global leadership in addressing the reliability challenges caused by climate change. This project will demonstrate how microgrids can benefit customers in California and beyond,” said Eric Dresselhuys, ESS Inc. CEO. “ESS is proud to collaborate with SDG&E on this project and to offer a safe, sustainable long-duration energy storage solution to help utilities and energy users achieve their clean energy and resiliency goals.”
The ESS energy storage solution will be integrated with a solar PV array and into SDG&E’s local area distribution controller (LADC) to ensure multi-day continuity of services to first responders and critical customer loads in a remote location. The Cameron Corners Microgrid Project is scheduled to come online in the first quarter of 2022.
In recent years, the need for microgrid-based energy resilience has become more critical, due to the sharp increase in extreme weather events and wildfires across the Western U.S. According to the latest U.S. Department of Energy data, there are now 575 operational microgrids in the U.S., totaling 4.25 gigawatts (GW).
About ESS Inc.
ESS Inc. (NYSE:GWH) designs, builds and deploys environmentally sustainable, low-cost, iron flow batteries for long-duration commercial and utility-scale energy storage applications requiring from 4 to 12 hours of flexible energy capacity. The Energy Warehouse™ and Energy Center™ use earth-abundant iron, salt, and water for the electrolyte, resulting in an environmentally benign, long-life energy storage solution for the world’s renewable energy infrastructure. Established in 2011, ESS Inc. enables project developers, utilities, and commercial and industrial facility owners to make the transition to more flexible, non-lithium-ion storage that is better suited for the grid and the environment. For more information, visit www.essinc.com.
Investors:
Erik Bylin
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Media:
Gene Hunt
Trevi Communications, Inc.
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BETHESDA, Md.--(BUSINESS WIRE)--Enviva Partners, LP (NYSE: EVA) (“Enviva,” “we,” “us,” or “our”) today announced that it has amended and restated its senior secured revolving credit facility (the “Amended & Restated Credit Facility”) and increased the facility’s size from $525 million to $570 million. The transaction closed on December 17, 2021.
Enviva remains committed to conservatively managing its balance sheet and expects to use future borrowings under the Amended & Restated Credit Facility primarily to support its strategic, highly accretive growth initiatives.
“With this revolver expansion, we welcome Truist Bank into our credit facility and increase the breadth of our lending relationships,” said Shai Even, Executive Vice President and Chief Financial Officer. “The amended credit facility also enhances the financial flexibility of our operations, as we build and expand our fleet of fully contracted wood pellet production plants in one of the most robust, renewable, and sustainable natural resource basins in the world.”
Barclays is Administrative Agent and Collateral Agent on the Amended & Restated Credit Facility and, together with Bank of Montreal, Citibank, N.A., Goldman Sachs Bank USA, HSBC Bank USA, N.A., JPMorgan Chase Bank, N.A., Royal Bank of Canada, and Truist Bank, acted as Joint Bookrunner, Joint Lead Arranger, and Co-Documentation Agent. AgFirst Farm Credit Bank and American AgCredit, PCA acted as Joint Bookrunners, Joint Lead Arrangers, and Co-Syndication Agents.
About Enviva
Enviva (NYSE: EVA) aggregates a natural resource, wood fiber, and processes it into a transportable form, wood pellets. Enviva sells a significant majority of its wood pellets through long-term, take-or-pay off-take contracts with creditworthy customers in the United Kingdom, the European Union, and Japan. Enviva owns and operates 10 plants with a combined production capacity of approximately 6.2 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi. In addition, Enviva exports wood pellets through its marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.
To learn more about Enviva, please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.
Cautionary Note Concerning Forward-Looking Statements
The information included herein and in any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein, regarding Enviva’s future financial performance, as well as Enviva’s strategy, future operations, financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms, and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Enviva disclaims any duty to revise or update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Enviva cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Enviva.
INVESTOR CONTACT:
Kate Walsh
Vice President, Investor Relations
+1 240-482-3856
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CARNEGIE, Pa.--(BUSINESS WIRE)--Ampco-Pittsburgh Corporation (NYSE: AP) (the "Corporation" or “Ampco-Pittsburgh”) today announced the appointment of David G. Anderson as President of Air & Liquid Systems Corporation (“Air & Liquid Systems”), a wholly-owned subsidiary of Ampco-Pittsburgh, effective January 1, 2022. Mr. Anderson succeeds Terrence W. Kenny, who has served as Air & Liquid Systems’ President since 2010 and has announced his retirement.
Brett McBrayer, Chief Executive Officer of the Corporation, stated, “Terry’s retirement will cap more than three decades of achievement and growth. He and his valued leadership will be greatly missed. On behalf of the Board and the Corporation, I would like to thank Terry for his exemplary contributions and wish him the very best in his retirement.”
Mr. Anderson brings over 32 years of experience in finance and operations leadership to his role at Air & Liquid Systems, most recently serving as Vice President of Finance for Union Electric Steel Corporation, a wholly-owned subsidiary of Ampco-Pittsburgh. Before this position, Mr. Anderson was Vice President of Air & Liquid Systems.
Mr. McBrayer continued, “Dave joined Air & Liquid Systems in 2010 and has served in roles of increasing responsibility. We look forward to what Dave will bring to Air & Liquid Systems as its President. With an experienced leadership team, Air & Liquid Systems is poised for continued success through this transition.”
About Ampco-Pittsburgh Corporation
Ampco-Pittsburgh Corporation manufactures and sells highly engineered, high-performance specialty metal products and customized equipment utilized by industry throughout the world. Through its operating subsidiary, Union Electric Steel Corporation, it is a leading producer of forged and cast rolls for the global steel and aluminum industry. It also manufactures open-die forged products that principally are sold to customers in the steel distribution market, oil and gas industry, and the aluminum and plastic extrusion industries. The Corporation is also a producer of air and liquid processing equipment, primarily custom-engineered finned tube heat exchange coils, large custom air handling systems, and centrifugal pumps. It operates manufacturing facilities in the United States, England, Sweden, Slovenia, and participates in three operating joint ventures located in China. It has sales offices in North and South America, Asia, Europe, and the Middle East. Corporate headquarters is located in Carnegie, Pennsylvania.
Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 (the “Act”) provides a safe harbor for forward-looking statements made by or on behalf of Ampco-Pittsburgh Corporation (the “Corporation”). This press release may include, but is not limited to, statements about operating performance, trends, events that the Corporation expects or anticipates will occur in the future, statements about sales and production levels, restructurings, the impact from global pandemics (including COVID-19), profitability and anticipated expenses, future proceeds from the exercise of outstanding warrants, and cash outflows. All statements in this document other than statements of historical fact are statements that are, or could be, deemed “forward-looking statements” within the meaning of the Act and words such as “may,” “will,” “intend,” “believe,” “expect,” “anticipate,” “estimate,” “project,” “forecast” and other terms of similar meaning that indicate future events and trends are also generally intended to identify forward-looking statements. Forward-looking statements speak only as of the date on which such statements are made, are not guarantees of future performance or expectations, and involve risks and uncertainties. For the Corporation, these risks and uncertainties include, but are not limited to: cyclical demand for products and economic downturns; excess global capacity in the steel industry; fluctuations of the value of the U.S. dollar relative to other currencies; increases in commodity prices or shortages of key production materials; consequences of global pandemics (including COVID-19); changes in the existing regulatory environment; new trade restrictions and regulatory burdens associated with “Brexit”; inability of the Corporation to successfully restructure its operations; limitations in availability of capital to fund the Corporation’s operations and strategic plan; inoperability of certain equipment on which the Corporation relies; work stoppage or another industrial action on the part of any of the Corporation’s unions; liability of the Corporation’s subsidiaries for claims alleging personal injury from exposure to asbestos-containing components historically used in certain products of those subsidiaries; inability to satisfy the continued listing requirements of the New York Stock Exchange or NYSE American; failure to maintain an effective system of internal control; potential attacks on information technology infrastructure and other cyber-based business disruptions; and those discussed more fully elsewhere in this report and in documents filed with the Securities and Exchange Commission by the Corporation, particularly in Item 1A, Risk Factors, in Part I of the Corporation’s latest Annual Report on Form 10-K. The Corporation cannot guarantee any future results, levels of activity, performance or achievements. In addition, there may be events in the future that the Corporation may not be able to predict accurately or control which may cause actual results to differ materially from expectations expressed or implied by forward-looking statements. Except as required by applicable law, the Corporation assumes no obligation, and disclaims any obligation, to update forward-looking statements whether as a result of new information, events or otherwise.
Melanie L. Sprowson
Director, Investor Relations
412-429-2454
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Announces Sale of Hector, Minnesota Real Estate Holdings; Provides Information on Nature of October 15, 2021 $3.50 Special Cash Dividend
MINNETONKA, Minn.--(BUSINESS WIRE)--Communications Systems, Inc. (Nasdaq: JCS) (“CSI” or the “Company”) announced today that on December 16, 2021, the Company entered an amendment (Amendment”) to the definitive merger agreement (“Merger Agreement”) dated March 1, 2021, between the Company and privately held Pineapple Energy, LLC (“Pineapple”), a growing U.S. operator and consolidator of residential solar, battery storage, and grid services solutions.
Under the Amendment, among other things, CSI and Pineapple agreed:
In connection with the Amendment, the parties also agreed to a revised form of contingent value rights (“CVR”) agreement. The principle changes in the form of CVR agreement were (i) to extend the CVR Term from 18 months to 24 months following the closing date; (ii) to provide that certain qualified letters of intent entered into prior to the closing date will be treated in the same manner as a binding agreement for purposes of determining the CVR Payment Amount, subject to certain additional conditions; (iii) to change the timing and dispute resolution process for determination of and payment of CVR Payment Amount; (iv) to clarify the treatment of net insurance proceeds as a credit to Monetization Expense; (v) to add certain limits on the duties and responsibilities of the CVR Holders’ Representative; and (vi) to add a covenant prohibiting CSI or its subsidiaries following the closing date from creating or permitting any encumbrance on any of the CSI Legacy Assets (including Legacy Cash and the equity of any CSI subsidiary that was a subsidiary prior to the closing date) until the expiration of the CVR Term.
Roger Lacey, CSI Executive Chair and Interim CEO stated, “CSI and Pineapple are moving with deliberate speed for a closing to occur by March 31, 2022. We expect to file our amended S-4 Registration Statement and provide notice of the special meeting to CSI shareholders in January 2022.”
Sale of Real Estate Assets
On December 15, 2021, CSI completed the sale of its real estate located in Hector, Minnesota for $900,000. The buildings currently support the former Suttle operations that were sold to Oldcastle/Primex in 2020. As previously announced, like any transactions entered into prior to the closing of the CSI-Pineapple merger transaction, we expect 100% of net proceeds of this real estate transaction will inure to the benefit of the pre-merger CSI shareholders.
Taxable Dividend
As we previously reported, based on our preliminary analysis of the Company’s accumulated earnings and profits determined for U.S. federal income tax purposes, the Company believes that the full amount of the $3.50 special dividend paid on October 15, 2021, to CSI shareholders of record at the close of business on September 30, 2021 should be treated as an ordinary taxable dividend. CSI shareholders that received the special dividend will receive an IRS Form 1099-DIV in January of 2022. CSI shareholders are encouraged to consult their own tax advisor as to the characterization of the special dividend and the U.S. federal, state, local, foreign income tax or other tax consequences.
About Communications Systems, Inc.
Communications Systems, Inc. (Nasdaq: JCS), which has operated as an IoT intelligent edge products and services company, announced its planned merger transaction with Pineapple Energy. After the closing of the Pineapple merger transaction, the Company will be renamed “Pineapple Holdings, Inc.” and will be positioned to grow organically and to acquire and grow leading local and regional solar, storage, and energy services companies nationwide. The vision is to power the energy transition through grass-roots growth of solar electricity paired with battery storage on consumers’ homes.
Website Information
CSI routinely posts important information for investors on its website, www.commsystems.com, in the “Investor Resources” section. CSI uses this website as a means of disclosing material information in compliance with its disclosure obligations under SEC Regulation FD. Accordingly, investors should monitor the “Investor Resources” section of CSI’s website, in addition to following its press releases, SEC filings, future public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, CSI’s website is not incorporated by reference into, and is not a part of, this document.
No Offer or Solicitation
This press release is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.
Additional Information and Where to Find It; Participants in the Solicitation
In connection with the proposed merger transaction between CSI and Pineapple, CSI filed a Registration Statement on Form S-4 with the with the Securities and Exchange Commission (“SEC”) on November 12, 2021 (SEC File No 333-260999) that includes a notice of meeting and a proxy statement with respect to the special meeting of CSI shareholders at which CSI shareholders will be asked to consider and vote upon a proposal to approve the merger agreement, among other matters, and a prospectus of CSI with respect to the shares of CSI common stock to be issued in the merger, as well as other relevant documents concerning the proposed merger, the PIPE Offering, and related transactions. The Registration Statement is not complete, may be changed and has not been declared effective by the SEC. This press release does not constitute a solicitation of proxy, an offer to purchase, or a solicitation of an offer to sell any securities.
CSI URGES INVESTORS, SHAREHOLDERS AND OTHER INTERESTED PERSONS TO READ THE REGISTRATION STATEMENT AND PROXY STATEMENT/PROSPECTUS, AND ANY AMENDMENTS OR SUPPLEMENTS THERETO, AND ANY OTHER DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE MERGER BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
A definitive proxy statement/prospectus will be mailed to CSI shareholders as of a record date to be established for the special meeting. CSI investors and shareholders are urged to read the entire definitive proxy statement/prospectus and other documents that will be filed with the SEC carefully and in their entirety when they become available because they will contain important information.
The Registration Statement, preliminary and definitive proxy statement/prospectus, any other relevant documents, and all other documents and reports CSI filed with or furnishes to the SEC are (or, when filed, will be) available free of charge under the “Financial Reports” tab of the Investors Relations section of our website at www.commsystems.com or by directing a request to: Communications Systems, Inc., 10900 Red Circle Drive, Minnetonka, MN 55343. The contents of the CSI website is not deemed to be incorporated by reference into this Form 8-K, the registration statement or the proxy statement/prospectus. The documents reports that CSI files with or furnishes to the SEC are (or, when filed, will be) available free of charge through the website maintained by the SEC at http://www.sec.gov.
CSI and its directors and executive officers may be considered participants in the solicitation of proxies by CSI in connection with approval of the proposed merger and the PIPE Offering. Information regarding the names of these persons and their respective interests in the transaction, by securities holdings or otherwise, will be set forth in the definitive proxy statement/prospectus when it is filed with the SEC. Additional information about the directors and executive officers of CSI is set forth in (i) its Annual Report on Form 10-K for the fiscal year ended December 31, 2020; (ii) its Amendment No. 1 on Form 10-K/A; and(iii) its definitive Proxy Statement for the CSI 2021 annual meeting of shareholders, which will be held on December 3, 2021, which document were filed with the SEC on March 31, 2021, April 30, 2021, and November 16, 2021, respectively. To the extent the Company’s directors and executive officers or their holdings of the Company’s securities have changed from the amounts disclosed in those filings, to the Company’s knowledge, these changes have been reflected in SEC filings, including statements of change in ownership on Form 4 on file with the SEC. You may obtain these documents (when they become available, as applicable) free of charge through the sources indicated above.
Forward Looking Statements
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statements are based on Communications Systems’ current expectations or beliefs and are subject to uncertainty and changes in circumstances. There can be no guarantee that the proposed transactions described in this document will be completed, or that they will be completed as currently proposed, or at any particular time. Actual results may vary materially from those expressed or implied by the statements here due to changes in economic, business, competitive or regulatory factors, and other risks and uncertainties affecting the operation of Communications Systems’ business. These risks, uncertainties and contingencies are presented in the Company’s Annual Report on Form 10-K and, from time to time, in the Company’s other filings with the Securities and Exchange Commission. The information set forth herein should be read considering such risks. Further, investors should keep in mind that the Company’s financial results in any period may not be indicative of future results. Communications Systems is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether because of new information, future events, changes in assumptions or otherwise. In addition to these factors, there are a number of additional factors, including:
For Communications Systems, Inc.
Roger H. D. Lacey
Executive Chair and Interim Chief Executive Officer
+1 (952) 996-1674
Mark D. Fandrich
Chief Financial Officer
+1 (952) 582-6416
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The Equity Group Inc.
Lena Cati
Vice President
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Mark McGough joins H2U Technologies, Inc. as CEO and President.
LOS ANGELES--(BUSINESS WIRE)--H2U Technologies, Inc. (H2U) announced today that Mark McGough has joined the company as President and Chief Executive Officer. Mr. McGough has a long and successful track record commercializing new energy technologies, including introduction of the ultracapacitor as a new class of energy storage technology while President of Maxwell’s Advanced Energy Storage business, and as CEO and commercialization leader of fast growth startups like Ioxus, Energetics and Pentadyne Power.
H2U is developing the world’s lowest cost PEM electrolyzer, the Gramme50, designed specifically for producing the lowest levelized cost green hydrogen, to enable scaling of the Hydrogen Economy. H2U’s key enabling technologies for achieving and maintaining low CAPEX are H2U’s proprietary low cost earth abundant non-PGM catalysts, and its disruptive PEM design which allows for easy upgrades to the catalyst/MEA as H2U continuously improves it’s Platinum and Iridium replacements.
“Green Hydrogen” is the new highly anticipated energy source for decarbonizing the global economy. Green hydrogen is made from renewable energy sources like solar and wind generation, and PEM electrolyzers, which produce hydrogen, are ideally suited for pairing with such resources. Green hydrogen offers the ability to inexpensively store renewable electricity at grid scale for long periods of time, as well as the ability to serve as a carbon free fuel for heavy transportation such as ships, aircraft, trains and trucks – a clear advantage over battery storage.
"I am thrilled to join H2U Technologies - the best science team in this business – and equally excited to lead commercialization of the unique H2U catalyst and electrolyzer product sets that address a key barrier to scaling the Hydrogen Economy," said Mark McGough, the new President and CEO of H2U Technologies. “H2U has the world’s fastest electrocatalyst discovery capability, and we have already demonstrated the ability to produce hydrogen with full replacement of expensive iridium catalyst materials. Also, H2U’s novel low cost electrolyzer design, fitted with our new PGM-free catalysts, will begin customer demonstrations in mid 2022.”
CalTech Professor and H2U Co-Founder Nathan Lewis adds, "I couldn’t be more pleased to welcome Mark onto our team. I founded H2U with the vision of a clean energy future, and we have just hired a highly successful, proven executive with the experience and capabilities to lead us to a realization of that vision."
About H2U Technologies, Inc.
H2U Technologies is a developer of new catalysts used for the electrolysis of water into hydrogen and oxygen. The company also develops a grid-scale PEM electrolyzer, the Gramme 50. The technology underpinning H2U Technologies' products is based on 10 years of research and development funded by the U.S. Department of Energy through Caltech's Joint Center for Artificial Photosynthesis (JCAP). For more information, visit h2utechnologies.com.
Anita Maharaj
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Six Drilling Rigs and Three Workover Rigs in Operation in Three Basins
Including Kickoff of High Impact Multi-Year Drilling Campaign in the CPO-5 Block After Spudding Indico 4 Well
BOGOTA, Colombia--(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator today provides an operations and business update.
Colombia: Drilling Underway to Grow Production, Extend Field Boundaries and Test New High Potential Prospects
In the CPO-5 block (GeoPark non-operated, 30% WI) - Llanos basin:
In the Llanos 34 block - Llanos basin:
In the Platanillo block (GeoPark operated, 100% WI) - Putumayo basin:
Ecuador: Spudded First Test of Attractive Low Risk Short-Cycle Exploration Inventory
In the Perico block (GeoPark non-operated, 50% WI) - Oriente basin:
In the Espejo block (GeoPark operated, 50% WI) - Oriente basin:
Oil and Gas Production Growth
2022 Work Program: Multiple Catalysts Ahead
Continued and Recognized Commitment to Community Development
NOTICE
Additional information about GeoPark can be found in the “Investor Support” section on the website at www.geo-park.com.
Certain amounts included in this press release have been rounded for ease of presentation.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘could,’’ ‘‘expect,’’ ‘‘should,’’ ‘‘plan,’’ ‘‘intend,’’ ‘‘will,’’ ‘‘estimate’’ and ‘‘potential’’, among others.
Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief, or current expectations, regarding various matters, including expected future financial performance and free cash flow generation, expected production growth, drilling activities, demand for oil and gas, oil and gas prices, our work program and investment guidelines, regulatory approvals, reserves and exploration resources. Forward-looking statements are based on management’s beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors.
Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances, or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see filings with the U.S. Securities and Exchange Commission (SEC).
1 Subject to execution of an amendment of the E&P Contract with the ANH.
2 Calculated using GPRK’s market capitalization in December 17, 2021.
INVESTORS:
Stacy Steimel
Shareholder Value Director
T: +562 2242 9600
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Miguel Bello
Market Access Director
T: +562 2242 9600
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Diego Gully
Investor Relations Director
T: +5411 4312 9400
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MEDIA:
Communications Department
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Urges Stockholders to Vote Today “FOR” the Election of Three Well-Qualified Directors
DALLAS--(BUSINESS WIRE)--Texas Pacific Land Corporation (NYSE: TPL) (“TPL Corporation” or the “Company”) today sent a letter to stockholders from the Board of Directors (the “Board”) discussing the proposals on the ballot for the Annual Meeting of Stockholders (the “Annual Meeting”) on December 29, 2021.
In the letter, the Board urges stockholders to vote TODAY ‘FOR’ Proposal One, the election of three well-qualified directors – Barbara Duganier, Tyler Glover and Dana McGinnis – each of whom contributes to the Board a unique perspective and diverse, relevant experience. The Board also recommends that stockholders vote ‘FOR’ Proposals Two, Four, Five and Six, ‘FOR’ one year in Proposal Three, and ‘AGAINST’ Proposal Seven regarding the classified structure of the Company’s Board.
Highlights from the letter include:
Please review the attached letter to stockholders, which will also be filed with the United States Securities and Exchange Commission (“SEC”) and mailed to stockholders ahead of the Annual Meeting. Stockholders who have questions or who need assistance in voting their shares should contact the Company’s proxy solicitor, MacKenzie Partners, at (212) 929-5500 or Toll-Free (800) 322-2885.
About TPL
Texas Pacific Land Corporation is one of the largest landowners in the State of Texas with approximately 880,000 acres of land in West Texas, with the majority of its ownership concentrated in the Permian Basin. The Company is not an oil and gas producer, but its surface and royalty ownership allow revenue generation through the entire value chain of oil and gas development, including through fixed fee payments for use of our land, revenue for sales of materials (caliche) used in the construction of infrastructure, providing sourced water and treated produced water, revenue from our oil and gas royalty interests, and revenues related to saltwater disposal on our land. The Company also generates revenue from pipeline, power line and utility easements, commercial leases and seismic and temporary permits related to a variety of land uses including midstream infrastructure projects and hydrocarbon processing facilities.
Additional Information
In connection with the 2021 Annual Meeting, the Company filed a definitive proxy statement with the SEC on October 4, 2021, an Amendment No. 1 to the definitive proxy statement with the SEC on October 22, 2021, and a revised definitive proxy statement with the SEC on December 7, 2021. The definitive proxy statement, Amendment No. 1, and the revised definitive proxy statement, as well as the form of proxy, have been made available to the Company’s stockholders. Stockholders are urged to read the definitive proxy statement, as amended and revised, and any other documents filed by the Company with the SEC in connection with the 2021 Annual Meeting because they contain important information. Stockholders are able to obtain, for free, copies of documents filed with the SEC at the SEC’s website at http://www.sec.gov.
Investor Relations
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Media Relations
Abernathy MacGregor
Sydney Isaacs / Jeremy Jacobs
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DUBLIN--(BUSINESS WIRE)--The "Turbomachinery Control Systems, Retrofitting, and Ancillary Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The turbomachinery control system, retrofitting, and ancillary system market is expected to register a CAGR of 4.09% during the forecast period, 2020-2025.
Companies Mentioned
Key Market Trends
Increasing Demand from Oil and Gas Sector
Asia-Pacific to Dominate the Market
Key Topics Covered:
1 INTRODUCTION
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast for Turbomachinery Control Systems, Retrofitting, and Ancillary Services in USD billion, until 2025
4.3 Market Size and Demand Forecast for Turbines and Compressors in USD billion, until 2025
4.4 Recent Trends and Developments
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Industry Attractiveness - Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Application
5.2 End-user Industry
5.3 Service Type
5.4 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/4fsrqp
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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14th Annual Week of Employee Volunteerism Addresses Food Insecurity in Communities across 20 States
HOUSTON--(BUSINESS WIRE)--NRG Energy, Inc.’s (NYSE:NRG) fourteenth annual week of employee volunteerism—dubbed positiveNRG week by the organization —brought more than 500 NRG employees across 20 states together to donate over 1,600 hours to help alleviate the impact of food insecurity in their communities. From November 8-12, the NRG family donated over 100,000 pounds of food and packed and delivered over 74,000 meals.
Employees had the opportunity to make a positive impact through monetary and food donations, packaging meals, and distributing food at local food banks and other food security initiatives.
“So many of our neighbors have, and continue to, struggle to put food on their table. We were able to spend positiveNRG week helping to alleviate some of the hardships that so many in our communities are facing, particularly following the pandemic,” said Jennifer Brunelle, Senior Director, positiveNRG, NRG’s corporate philanthropy program. “We always aim to be active and positive members of our communities, by reconnecting in person for our annual positiveNRG week, our employees capitalized on the opportunity to make a difference.”
Participating in over 29 events over the course of the week, employees volunteered with a number of organizations, including:
• United Way of Greater Mercer County
• Greater Pittsburgh Food Bank
Many non-profit organizations and community groups have experienced an increased need for food assistance in the past two years. One of NRG's partners, the United Way of Greater Mercer County, noted that prior to the pandemic 55,000 families in the area were struggling with food insecurity and that need has continued to increase exponentially. Houston Food Bank has experienced a similar increase and has been distributing an average of 688,000 pounds of food and other essentials per day, a more than 126% increase.
Courtney Matlock, Senior Director of Development, United Way of Greater Mercer County, spoke about the importance of working with partners such as NRG, “Around food security, we pride ourselves on being able to bring together partners who are truly vested in the community, we count [NRG] among our “crew,” Courtney said. “The head of the Mercer Street Friends Food Bank called to express his gratitude in being able to be part of the effort – they are so very appreciative of the trucks that [NRG and their employees] helped to make possible.”
“We are so grateful for NRG’s partnership,” said Amy Ragan, Chief Development Officer of Houston Food Bank. “NRG employees are very productive volunteers because they work fast and push to get as much product ready for distribution as possible. Their volunteer support means that many more families will have food in their homes within 24 hours. It’s humbling to see a company such as NRG make so much impact in their community.”
PositiveNRG will continue to contribute to the causes critical to our communities and to recognize and support the organizations who work every day to alleviate hunger.
To learn more about positiveNRG week.
About positiveNRG
PositiveNRG is NRG Energy’s charitable giving arm, focused on creating a positive impact for employees, customers and communities. The program is reflective of our company’s values by empowering healthy choices, enabling community resilience and supporting environmental health. PositiveNRG establishes long-term relationships with non-profits and organizations that help our communities to flourish, co-creating a better future for everyone.
About NRG
At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to millions of customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working toward a sustainable energy future. More information is available at nrg.com. Connect with NRG on Facebook, LinkedIn, and follow us on Twitter @nrgenergy.
Media:
Candice Adams
609.524.5428
Investors:
Kevin L. Cole, CFA
609.524.4526
OSLO, Norway--(BUSINESS WIRE)--Cognite today announced a collaboration with Equinor (OSE: EQNR, NYSE: EQNR), a world-leading energy company, to expand Equinor’s data capabilities and support the company’s digital ambitions.
Using Cognite’s industrial DataOps technology, Cognite Data Fusion®, as a module in Equinor’s OMNIA data architecture, built on the Microsoft Azure cloud, a joint Equinor and Cognite team will develop and explore tools and solutions to accelerate Equinor’s digital ambitions. These efforts include developing data-driven insights within Marketing & Supply and other business areas across Equinor’s global footprint and asset portfolio.
Equinor’s ambition is to develop an advanced analytical ecosystem with highly accessible data and insights generation through enhanced digital capabilities. Equinor and Cognite, in collaboration with Microsoft, will build solutions to liberate and contextualize data, creating a competitive edge in highly complex and dynamic global markets. The partnership will focus on building a future-proof data architecture, new ways of working, and accelerating data extraction and contextualization.
“Leveraging Cognite and Microsoft technology and competence, working closely with our own teams, will help drive our ambition to take a leading role in the digital step-up happening in global commodity markets,'' says Ann-Elisabeth Serck-Hanssen, SVP Marketing & Supply in Equinor.
“Liberation, integration, and contextualization of data will be a key accelerator and a critical differentiator in the markets of the future, and Equinor’s ambition is to become a leader in the way we manage and derive insights from data,” says Torbjørn Folgerø, SVP Enterprise Digital in Equinor.
With contextualized data, Equinor can develop accessible data models and analytics, empowering employees to develop competitive insights and stress-test hypotheses on a continuous basis.
“We are very proud to establish a partnership with Equinor, a world leading energy company with a global portfolio of market operations,” says Dr. John Markus Lervik CEO and co-founder of Cognite. “Data liberation and DataOps in commercial operations will be a key differentiator for Equinor in the global energy markets, and a critical enabler for next-generation decision support, quality, resilience, and competitiveness. Partnering with Equinor to help support their digital ambitions is not only a great opportunity to demonstrate the power of contextualized data, but also to show the value of close cross-functional teamwork.”
About Equinor
Equinor develops oil, gas and new energy solutions for today and tomorrow, turning natural resources into energy for people and progress for society. Equinor has more than 40 years of experience developing oil and gas on the Norwegian Continental shelf and now operates in more than 30 countries. The company is headquartered in Stavanger, Norway, listed on the New York and Oslo stock exchanges and employs approximately 22,000 people worldwide.
About Cognite
Cognite is a global industrial SaaS company that was established with one clear vision: to rapidly empower industrial companies with contextualized, trustworthy, and accessible data to help drive the full-scale digital transformation of asset-heavy industries around the world. Our core Industrial DataOps platform, Cognite Data Fusion®, enables industrial data and domain users to collaborate quickly and safely to develop, operationalize, and scale industrial AI solutions and applications to deliver both profitability and sustainability. Visit us at www.cognite.com, and follow us on Twitter and LinkedIn.
Press contact - Equinor
Magnus Franzen Eidsvold,
Manager media relations
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Press contact - Cognite
Michelle Holford
Global PR Lead - Cognite
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Introducing integrated solutions for sustainability under “Smart Society” concept
TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today that it will exhibit at CES 2022 in Las Vegas, U.S.A. from January 5 to 8, with the concept "Smart Society." The company will introduce its vision of contributing to a vibrant and sustainable future by addressing social issues through various advanced technologies and solutions that help society connect, unite and share. The exhibit will be located in the West Hall of the Las Vegas Convention Center at booth No. 4425
Highlights of the Exhibition
1) Company Vision and Exhibition Concept Toward the Next 100 Years to be Presented at Main Stage
2) Integrated Solutions for within Key Pillars of Society
3) Special Events
- For the full text, please visit: www.MitsubishiElectric.com/news/
Customer Inquiries
Global Strategic Planning & Marketing Group
Mitsubishi Electric Corporation
www.MitsubishiElectric.com/ssl/contact/company/form.html
Media Inquiries
Takeyoshi Komatsu
Public Relations Division
Mitsubishi Electric Corporation
Tel: +81-3-3218-2346
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www.MitsubishiElectric.com/news/
Evergy also Prepares to Ask MPSC to Extend Missouri Energy Efficiency Offerings.
KANSAS CITY, Mo.--(BUSINESS WIRE)--On Friday, Dec. 17, Evergy proposed a suite of energy efficiency programs to the Kansas Corporation Commission. Evergy’s proposed programs would provide Kansas residential and business customers with $42 million in anticipated net bill savings, offer $13 million in enhanced assistance for low-income and rural customers, and would unlock community benefits through job creation, energy education and agency partnerships.
Evergy also is preparing to ask the Missouri Public Service Commission to extend the current package of energy efficiency programs being offered to Evergy’s Missouri customers.
“As energy efficiency products and technologies continue to evolve, Evergy wants to provide energy solutions to help Kansas customers with their energy efficiency needs,” said Chuck Caisley, Evergy senior vice president and chief customer officer. “We’ve been able to offer similar successful programs in Missouri and believe Kansas customers will embrace having choices that help them manage their energy costs.”
A 2021 Wichita State University study showed that Evergy’s Kansas customers want their utility to offer energy efficiency programs. Evergy has a long history of delivering successful cost-effective programs in Missouri, making it the ideal partner to help customers save energy and money. As the first utility in Missouri to make a strong commitment to energy efficiency, Evergy has helped more than 370,000 residents and 8,000 businesses save energy.
In Missouri, Evergy plans to ask to extend its 11 current programs with enhancements for one additional year through 2023. Through a set of programs that include measures like home energy audits, programmable thermostats, rebates for efficient lighting and other efficiency upgrades, Evergy has helped save customers more than 1 billion kilowatt hours of electricity since 2013. Missouri customers have seen more than $2 of benefit for each dollar spent toward energy efficiency programs. Extension of these programs is expected to bring another $23 million of net benefits to Evergy’s Missouri customers.
“The Evergy incentives that we are able to offer in Missouri help alleviate some of the cost concerns our customers have when wanting to purchase higher-end, more efficient equipment. These rebates provide even more value to the customer,” said Anthony Plumbing, Heating & Cooling, which participates as a trade-ally for residential energy efficiency programs. “Any additional rebates offered to customers will help them justify being able to spend more.”
“Customers want more ways to manage their energy and save money. The goal for our energy efficiency programs is to offer more innovative and personalized solutions that give customers more choices,” Caisley said. “We’re excited for the opportunity to provide our customers the latest in energy efficiency products and programs while continuing our role as a leader in customer programs within the utility industry.”
The programs proposed in Kansas are subject to review and approval by the Kansas Corporation Commission and an order would be anticipated in summer 2022. Programs are proposed to start in January 2023. The extension requested in Missouri is subject to approval by the Missouri Public Service Commission, and Evergy has requested a decision by spring 2022.
The programs are proposed under the Kansas Energy Efficiency Investment Act (KEEIA), which was passed by the Kansas Legislature and became effective on July 1, 2014. KEEIA was established to support the state’s goal of promoting the implementation of cost-effective demand-side programs in Kansas and the state policy to value demand -side program investments equal to traditional investments in supply and delivery infrastructure. A similar law in Missouri has helped customers save millions of dollars in energy costs since programs began in 2013.
About Evergy, Inc.
Evergy, Inc. (NYSE: EVRG) serves approximately 1.6 million customers in Kansas and Missouri. We were formed in 2018 when long-term local energy providers KCP&L and Westar Energy merged. We generate nearly half the power we provide to homes and businesses with emission-free sources. We support our local communities where we live and work, and strive to meet the needs of customers through energy savings and innovative solutions.
Gina Penzig
Manager, External Communications
Phone: 785.508.2410
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Media Line: 888-613-0003
TULSA, Okla.--(BUSINESS WIRE)--ADNOC Drilling Company PJSC (“ADNOC Drilling” or the “Company”) (ADX symbol: ADNOCDRILL / ISIN: AEA007301012) and Helmerich & Payne, Inc. (“H&P”) (NYSE: HP) today jointly announced the finalization of the Rig Enablement Framework Agreement (“Framework Agreement”).
The Framework Agreement will advance ADNOC Drilling’s land rig operational performance, as well as support its ambitious growth and expansion plans. Focused on improving drilling efficiencies and unlocking operational savings, the Framework Agreement builds on the Asset Purchase Agreement and IPO Cornerstone Agreement announced on September 8, 2021, further strengthening the strategic alliance between ADNOC Drilling and H&P.
Abdulrahman Abdullah Al Seiari, CEO of ADNOC Drilling, said: “The Rig Enablement Framework Agreement announced today is a natural evolution of both our strategic alliance with H&P and ADNOC Drilling’s growth trajectory. By sharing global best practices and further optimizing our world-class rig fleet, this agreement turbocharges ADNOC Drilling’s significant competitive advantage, enabling us to further capitalize on and cement our leading position as the largest national drilling company in the Middle East and the only national drilling company that offers start-to-finish well services. The resulting efficiency gains will deliver enhanced operational excellence, in turn delivering even greater value to our shareholders.”
John Lindsay, H&P’s President and CEO commented, “We are excited about our alliance with ADNOC Drilling. Our cornerstone investment in ADNOC Drilling’s IPO supported the execution of our international growth strategy to allocate additional capital outside the U.S. and is a testament to our belief in what ADNOC Drilling and H&P can achieve together. The finalization of the Rig Enablement Framework Agreement now provides further opportunity to build on this strategic relationship and combine our capabilities to deliver exceptional operational performance.”
ADNOC Drilling’s recent IPO was the largest-ever listing on ADX, raising over $1.1 billion and marking a significant milestone in ADNOC’s value creation strategy. Substantial demand saw the IPO oversubscribed more than 31 times, highlighting strong confidence in the Company’s growth trajectory. As a Cornerstone Investor, H&P committed $100 million to the Offer, subject to a three-year lock-up period.
About ADNOC Drilling
ADNOC Drilling, listed on the Abu Dhabi Securities Exchange (ADX symbol “ADNOCDRILL”; ISIN AEA007301012), is the largest national drilling company in the Middle East by rig fleet size, with 96 owned rigs, as well as the sole provider of drilling rig hire services and certain associated rig-related services to ADNOC Group. ADNOC Drilling is also the first national Integrated Drilling Services (IDS) company in the region, offering start-to-finish wells and services that encompass the entire drilling value chain. The Company is a critical link in ADNOC’s upstream business, as ADNOC continues to move towards its oil production capacity target of 5 million barrels per day by 2030 and enables gas self-sufficiency for the UAE. To find out more, visit: www.adnocdrilling.ae
About Helmerich & Payne, Inc.
Founded in 1920, Helmerich & Payne, Inc. is committed to delivering industry leading drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for our customers and returns for shareholders. Through its subsidiaries, H&&P designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies. For more information, visit www.helmerichpayne.com.
Forward-Looking Statements
This release includes “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, and such statements are based on current expectations and assumptions that are subject to risks and uncertainties. All statements other than statements of historical facts included in this release are forward-looking statements. For information regarding risks and uncertainties associated with H&P’s business, please refer to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of H&P’s SEC filings, including but not limited to its annual report on Form 10‑K and quarterly reports on Form 10‑Q. As a result of these factors, H&P’s, actual results may differ materially from those indicated or implied by such forward-looking statements. H&P undertakes no duty to update or revise its forward-looking statements based on changes in internal estimates, expectations or otherwise, except as required by law.
Helmerich & Payne uses its website as a channel of distribution for material company information. Such information is routinely posted and accessible on its Investor Relations website at www.helmerichpayne.com.
ADNOC Drilling Contact:
Iain Cracknell
Vice President, Communications
+971 2 698 3614
H&P Contact:
Dave Wilson, Vice President of Investor Relations
+1-918-588-5190
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HOUSTON--(BUSINESS WIRE)--PNC Bank, National Association, as the successor trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders of its Units of beneficial interest (the “Unit Holders”) of $5,240,726.18 or $0.112441 per Unit, based primarily upon the reported production during the month of October 2021. The distribution is payable January 14, 2022, to the Unit Holders of record as of December 31, 2021.
For the production month of October 2021, the operator of the Trust’s subject interests, Hilcorp San Juan L.P. (“Hilcorp”), reported to the Trust net profits of $7,120,430 ($5,340,323 net royalty amount to the Trust).
Hilcorp reported $10,514,072 of revenue from the Subject Interests for the production month of October 2021. The reporting month of October 2021 also included other revenues of $201,015 consisting of $101,015 in nonrecurring additional revenue related to granted audit exceptions and interest, and an estimated $100,000 for non-operated income. For the Subject Interests, Hilcorp reported $3,393,641 of production costs during the production month of October 2021. Production costs consist of $2,025,265 of lease operating expenses, $1,352,895 of severance taxes and $15,481 of capital costs.
Based upon information Hilcorp provided to the Trust, gas volumes for the subject interests for October 2021 totaled 2,238,507 Mcf (2,487,230 MMBtu), as compared to 2,120,403 Mcf (2,356,003 MMBtu) for September 2021, excluding prior actualizations. Dividing revenues by production volume yielded an average gas price for October 2021 of $4.35 per Mcf ($3.92 per MMBtu), as compared to an average gas price for September 2021, excluding prior actualizations, of $3.60 per Mcf ($3.24 per MMBtu).
Hilcorp has informed the Trust that it has completed the implementation of its new accounting system. Hilcorp began reporting actual, instead of estimated, production for the June 2021 production month (corresponding to the August 2021 Trust reporting month) and that it intends to continue to report actual production going forward. The remaining months of non-operated revenue and non-operated severance tax actualizations for prior periods will be accounted for and reported in future distribution reports. At this time, the amount of these actualizations is unknown. The Trustee will coordinate with Hilcorp on the timing of any further actualizations and will communicate that timing to the Unit Holders.
The Trustee also continues to engage with Hilcorp regarding its ongoing accounting and reporting to the Trust, and the Trust’s third-party compliance auditors continue to audit all payments made by Hilcorp to the Trust, including adjustments, actualizations, and recoupments. The Trustee continues to consult with outside counsel to review the rights of the Trust with respect to these matters and to evaluate any available potential legal remedies.
Except for historical information contained in this news release, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements generally are accompanied by words such as “estimates,” “intends,” “unknown,” “plan,” or other words that convey the uncertainty of future events or outcomes. Forward-looking statements and the business prospects of San Juan Basin Royalty Trust are subject to a number of risks and uncertainties that may cause actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, certain information provided to the Trust by Hilcorp, volatility of oil and gas prices, governmental regulation or action, litigation, and uncertainties about estimates of reserves. These and other risks are described in the Trust’s reports and other filings with the Securities and Exchange Commission.
San Juan Basin Royalty Trust
PNC Bank, National Association
PNC Asset Management Group
2200 Post Oak Blvd., Floor 18
Houston, TX 77056
website: www.sjbrt.com
e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
James R. Wilharm, Senior Vice President and Director of Trust Real Estate Services
Kaye Wilke, Investor Relations, toll-free: (866) 809-4553
Indoor air quality dashboard with real-time data and insights helps building owners monitor, manage and improve the health and efficiency of indoor spaces
SWORDS, Ireland--(BUSINESS WIRE)--#challengepossible--Trane – by Trane Technologies (NYSE: TT), a global climate innovator – is introducing new digital indoor environmental quality (IEQ) management solutions that provide building owners and facility managers with actionable insights for healthier and more efficient indoor spaces and occupants’ peace of mind.
IEQ remains a primary concern as people return to offices, restaurants, shopping, and travel and entertainment. Building owners and facility managers are increasingly looking for solutions that help them continuously monitor and verify the status of their indoor spaces to maintain healthy environments.
As an extension to Wellsphere™, Trane’s holistic approach to creating healthier buildings, the new offerings bring together Trane’s exclusive Indoor Air Quality Assessment services, remote monitoring services, and integrated controls and sensors to diagnose building performance issues; prescribe optimal air quality and efficiency solutions; and automatically adjust HVAC systems based on real-time air quality indicators.
Trane, a leader in creating digitally connected buildings through high-performance building controls, is enabling customers to use data and intelligent analytics to make safe and comfortable spaces for occupants. Building managers can maintain optimal IEQ parameters tied to air quality and thermal comfort without compromising building efficiency and sustainability goals.
“Trane has been bringing deep expertise and leading technologies in building HVAC performance, sustainability and indoor environmental quality for decades,” said Donny Simmons, president, Commercial HVAC Americas, Trane Technologies. “We’re pleased to combine our unmatched building insights and data with new capabilities that keep building owners and facility managers more informed and in control of their air quality and energy efficiency.”
Air Quality Insights, Automation and Optimization
The integrated solutions work seamlessly with smart sensing technologies such as Awair Omni indoor air quality monitoring devices that measure airborne contaminants, including particulate matter, volatile organic compounds and carbon dioxide that can impact wellbeing, comfort and productivity. The data-driven insights also support smarter energy usage and air quality monitoring requirements for building certifications, including WELL, LEED, RESET and Fitwel.
Trane’s new Indoor Air Quality dashboard then brings the data to life, enabling building owners and facility managers to monitor, manage and share more information about the indoor air quality within the building. Simple occupant-facing air quality and building performance data bring added peace of mind for people inside the building.
Effectively managing IEQ goes beyond information; building owners and facility managers also need data-driven solutions. At pilot locations, Trane has demonstrated that air quality and other building conditions can change rapidly, requiring environment-specific solutions. Trane analysis services, based on third-party laboratory tests of various mitigation technologies, offer improvement strategies based on data and optimized for specific indoor environmental conditions.
Trane offers a full range of expertise and innovative IEQ solutions that assess the holistic needs of indoor spaces, mitigate specific issues, and manage ongoing effectiveness and efficiency through digital monitoring and integrated controls.
To learn more about Trane’s holistic approach to building wellness, visit www.trane.com/wellsphere or explore the Trane Technologies’ Center for Healthy & Efficient Spaces (CHES), which convenes leading experts to advance IEQ policy, strategies and solutions for a more sustainable world.
About Trane Technologies
Trane Technologies is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our environmentally responsible portfolio of products and services, we bring efficient and sustainable climate solutions to buildings, homes, and transportation. Learn more at tranetechologies.com.
About Trane
Trane – by Trane Technologies (NYSE: TT), a global climate innovator – creates comfortable, energy efficient indoor environments for commercial and residential applications. For more information, please visit www.trane.com or www.tranetechnologies.com.
Media:
Jennifer Regina, Trane Technologies
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BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent”) today announced that its fuel cell unit for the Maritime Sector – developed within the frame of the RiverCell Consortium – has passed safety testing, as well as a safety assessment completed by DNV, one of the world's leading classification societies.
RiverCell, a demonstration project supported by a consortium of partners, was initiated in 2015 and is expected to be completed by the end of this year. Funded by Germany’s Federal Ministry for Digital and Transport and led by Meyer Werft, it consists of a range of experienced partners throughout the maritime sector, including DNV, HADAG, Helm Proman Methanol, Neptun Werft, Pella Sietas, Technische Universität Berlin, Viking River Technical Cruises, and Advent.
The project is dedicated to the design and development of a fuel cell hybrid system for inland vessels, and its realization has provided valuable insights in terms of the suitability, practical use, and economic efficiency of hybrid powertrains. In addition to cutting greenhouse gas emissions, the hybrid concept – featuring energy storage combined with sustainable fuel cell-powered energy production – demonstrated an increase to both safety and efficiency in shipping.
As part of the demonstration, a section of a river cruise vessel was set up on dryland at Neptun Werft, in Rostock, Germany. There, the prototype of Advent’s Serene marine fuel cell unit was successfully integrated into a modern hybrid DC electric energy grid, which was equipped with all relevant ship systems, including battery storage as well as a conventional diesel genset.
With current regulations still based on the traditional use of diesel-powered energy sources, another core objective of the demonstrations has been to encourage the development of new global regulatory frameworks for the shipping sector, thus paving the way for future use of sustainable technologies.
Commenting on the project, RiverCell’s Project Manager, Ragnar Christenson from Meyer Werft, stated. “The maritime industry needs to find new ways to reduce all its emissions. Not only in the long run, but starting immediately, the shipping industry needs to deploy sustainable technologies and in particular speed up the change to renewable fuel sources. By RiverCell, we have demonstrated how fuel cell technology can be a safe, clean and efficient alternative to today’s diesel gensets in marine use. We have also been able to demonstrate how hydrogen for fuel cells, in the form of methanol, can be safely and efficiently stored on ships. The HT PEM fuel cells developed and manufactured by Advent Technologies can use methanol, carrier of hydrogen, as the fuel source, and we consider methanol one of the most promising and practical future fuels for the shipping sector. At Meyer Werft, we are happy to pioneer alongside our partners with our demonstrations of fuel cell technology, both to gain a competitive edge but also to influence global standards, paving the way for this sustainable alternative.”
Advent’s Senior Vice President, Morten Hougaard Sørensen, similarly highlighted the importance of the project and its potential influence on future standards: “Fuel cell technologies to replace diesel gensets for inland and sea-going vessels will significantly reduce carbon dioxide emissions. Using methanol produced from natural gas offers reduction of local pollution (NOx, SOx emissions), and methanol produced from renewable sources can substantially contribute to reducing GHG emissions from shipping. In recent years, interest in methanol as a fuel for the shipping industry has grown significantly, but the industry is also waiting for the final regulatory frameworks to come into place before committing to large-scale investments. Now, with our prototype design of the marine fuel cell unit successfully passing its safety testing, and the safety assessment successfully completed with DNV, we hope to see this data included alongside equivalent standards using the technology, so the industry understands that fuel cells are both efficient, safe, and practical in use. And on that basis, we look forward to continuing our journey with Meyer Werft and lots of new customers in the industry. At Advent, we believe that only together can we build a better future”.
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems, and the critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 100 patents issued for its fuel cell technology, Advent holds the IP for next-generation HT-PEM that enable various fuels to function at high temperatures under extreme conditions – offering a flexible “Any Fuel. Anywhere.” option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance our corporate reputation and brand; expectations concerning our relationships and actions with our technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in our Annual Report on Form 10-K/A filed with the Securities and Exchange Commission on May 20, 2021, as well as the other information we file with the SEC. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
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Integration with Supercritical Carbon Dioxide Power Cycle Expected to Drive Commercial Adoption of Breakthrough Carbon-free Technologies
PASADENA, Calif.--(BUSINESS WIRE)--#ArtificialIntelligence--Heliogen, Inc. (the “Company” or “Heliogen”), a leading provider of AI-enabled concentrated solar power, today announced it has finalized a $39 million award from the U.S. Department of Energy (“DOE”) to deploy the Company’s breakthrough renewable energy technology in California.
The Company will apply the funds received from the DOE towards a commercial-scale facility leveraging its AI-enabled concentrated solar technology. In particular, the DOE funds will support the implementation of Heliogen’s unique concentrated solar technology which couples its AI-powered heliostat field with a supercritical carbon dioxide (sCO2) power cycle. To do this, Heliogen's AI-powered heliostat field will efficiently generate higher temperatures than traditional concentrated solar, enabling the cost-effective integration of a sCO2 power cycle. Steam-based power cycles are typically used in thermal energy plants to convert heat into electricity, but advanced sCO2 cycles will reach higher efficiencies at lower cost with a smaller footprint and reduced water use. With its numerous advanced technologies, the Heliogen system is expected to unlock the production of low-cost, near 24/7 carbon-free electricity, highlighting the potential for concentrated solar technology to power industry and accelerate the clean energy transition in the United States and beyond.
“We’re proud to lead the way for clean energy through the deployment of breakthrough technologies that utilize sunlight to displace fossil fuels,” said Heliogen Founder and CEO, Bill Gross. "The large and ambitious scope of this DOE award adds momentum to deployment of Heliogen’s breakthrough AI-enabled, modular concentrated solar solution for carbon-free energy at scale.”
The DOE’s Solar Energy Technologies Office – which supports projects that are expected to improve the affordability, reliability, and value of solar technologies on the U.S. grid and tackle emerging challenges in the solar industry – previously announced Heliogen’s selection to begin negotiating the award on November 12, 2020.
About Heliogen
Heliogen is a renewable energy technology company focused on eliminating the need for fossil fuels in heavy industry and powering a sustainable future. The company’s AI-enabled, modular concentrated solar technology aims to cost-effectively deliver near 24/7 carbon-free energy in the form of heat, power, or green hydrogen fuel at scale – for the first time in history. Heliogen was created at Idealab, the leading technology incubator founded by Bill Gross in 1996. For more information about Heliogen, please visit heliogen.com.
On July 6, 2021, Heliogen entered into a definitive business combination agreement with Athena Technology Acquisition Corp. (NYSE: ATHN). Upon the closing of the business combination, Heliogen will become publicly traded on the New York Stock Exchange under the new ticker symbol “HLGN”. Additional information about the transaction can be viewed here: heliogen.com/investor-center/.
Additional Information and Where to Find It
In connection with the proposed business combination, Athena Technology Acquisition Corp. (“Athena”) has filed with the Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 that has been declared effective by the SEC, which includes a prospectus of Athena with respect to the securities to be issued in connection with the business combination with Heliogen, Inc. (“Heliogen”) and a definitive proxy statement of Athena with respect to the special meeting of stockholders to be held to approve, among other things, the proposed business combination and related transactions (“Special Meeting”). The combined proxy statement/prospectus relating to the proposed business combination was mailed to Athena’s stockholders on or about December 6, 2021. 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. The proposed business combination and related transactions will be submitted to stockholders of Athena for their consideration. Athena’s stockholders and other interested persons are advised to read the definitive proxy statement/prospectus and other documents filed in connection with Athena’s solicitation of proxies for its Special Meeting, because these materials contain important information about Heliogen, Athena and the proposed business combination and related transactions. The definitive proxy statement/prospectus and other relevant materials for the proposed business combination were mailed to stockholders of Athena as of November 23, 2021. Stockholders may also obtain a copy of the preliminary or definitive proxy statement/prospectus, once available, as well as other documents filed with the SEC by Athena, without charge, at the SEC’s website located at www.sec.gov or by directing a request to Phyllis Newhouse, President and Chief Executive Officer, Athena Technology Acquisition Corp., 125 Townpark Drive, Suite 300, Kennesaw, GA 30144, or by telephone at (970) 924-0446.
Participants in the Solicitation
Athena, Heliogen and their respective directors and executive officers and other persons may be deemed to be participants in the solicitations of proxies from Athena’s stockholders in respect of the proposed business combination and related transactions. Information regarding Athena’s directors and executive officers is available in its Registration Statement on Form S-1 and the prospectus included therein filed with the SEC on March 3, 2021. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests are contained in the definitive proxy statement/prospectus related to the proposed business combination and related transactions, and which can be obtained free of charge from the sources indicated above.
No Offer or Solicitation
This communication shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction. This communication shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Heliogen Media Contact:
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Heliogen Investor Contact
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BRISBANE, Australia--(BUSINESS WIRE)--NOVONIX Limited (ASX: NVX, OTCQX: NVNXF) (“NOVONIX” or “the Company”) is excited to announce that the preliminary results from an assessment by an independent globally recognised sustainability and life cycle assessment consultancy shows NOVONIX Anode Material offers an approximate 60% decrease in CO2 emissions in a lifecycle assessment.
NOVONIX has appointed Minviro Ltd. (“Minviro”), a UK-based and globally recognised sustainability and life cycle assessment consultancy, to conduct a life cycle assessment (LCA) on a grade of the Company’s synthetic graphite EV and ESS battery anode product, GX-23.
LCA is a robust, globally-recognised tool for quantifying the direct and embodied environmental impacts associated with a particular product or process. By taking into account all material and energy inputs, direct emissions and waste products within a given production process, LCAs provide a detailed account of the environmental footprint of a project and identify environmental ‘hotspots’ in process flows. LCAs go beyond simple carbon accounting and can quantify acidification potential, disease incidence related to particulate emissions and water use impacts, amongst other categories. Furthermore, the approach identifies scope 1, 2 and 3 CO2 emissions (from the Greenhouse Gas Protocol) that are often overlooked in other methodologies and can contribute substantial environmental burdens to projects overall.
This current study involves a complete ‘cradle-to-gate’ assessment of a grade of synthetic graphite from NOVONIX Anode Materials division’s production process, and benchmarks all results against other natural and synthetic anode grade graphite projects. It will also explore impacts associated with the use phase of synthetic graphite anodes by contextualising the product’s environmental performance relative to the kWh of a final lithium-ion battery in an electric vehicle and kilometers travelled. All results will be reviewed by a third-party under ISO-compliance, ensuring all results are scientifically robust and transparent, for communication to the public.
Preliminary results, that have yet to be finalized and are not yet third-party peer reviewed, show that as compared to data extracted from graphite processing facilities in Inner Mongolia and Heilongjiang Provinces, China, NOVONIX Anode Material’s division’s GX-23 synthetic graphite product offers an approximate 60% decrease in CO2 emissions. If final results, which will be third party peer reviewed, confirm this preliminary data, NOVONIX Anode Materials GX-23 product will show that it is 2.5x better for the environment than Chinese synthetic graphite EV and ESS battery anode material.
Dr. Chris Burns, CEO of NOVONIX states: “As we continue to see tremendous growth in demand for key battery materials such as synthetic graphite, cell manufacturers and automotive OEMs are not only looking for companies that can produce high performance materials at competitive costs but also those that prioritize environmental responsibility. We are excited to work with Minviro to evaluate our production technology compared to industry and look for opportunities to continue to lower the environmental impact of producing battery grade graphite.”
Dr Robert Pell, Founder & Director of Minviro states: “We are excited to be working with NOVONIX on quantifying the impact of their production process, especially considering the importance of the material to the low-carbon transition.”
NOVONIX’s Anode Materials division is based in Chattanooga, Tennessee, North America, where it is scaling up capacity to produce 150,000 metric tons per year of synthetic graphite by 2030. The results of the Minviro-led LCA will help NOVONIX optimise its project’s environmental performance and allow it to lead in sustainability-focused decision-making within the sector.
About Minviro
Minviro is a London based and globally recognized consultancy and technology company, specialising in carrying out life cycle assessments in the technology metal space. The company provides quantitative environmental and climate impact data for mineral resource projects, battery manufacturers and OEMs to make environmentally informed decisions
About NOVONIX
NOVONIX Limited is an integrated developer and supplier of high-performance materials, equipment and services for the global lithium-ion battery industry with operations in the U.S. and Canada and sales in more than 14 countries. NOVONIX's mission is to enable a clean energy future by producing longer-life and lower-cost battery materials and technologies.
This has been approved by NOVONIX Chairman, Robert J. Natter, Admiral, USN Ret.
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